FDC Ltd

FDC Ltd

₹ 451 0.45%
22 Apr 12:44 p.m.
About

FDC (Fairdeal Corporation) Ltd Limited (found in 1936) is among India’s leading fully integrated pharmaceutical companies. The Company is a pioneer in the manufacture of specialized formulations, and among the world’s foremost manufacturers and marketers of Oral Rehydration Salts (ORS). Some of FDC’s leading brands in India include Zifi, Electral, Enerzal, Vitcofol, Pyrimon, Zocon, Zathrin, Zipod, Cotaryl and Mycoderm in the domestic and international markets.[1]

Key Points

Revenue Breakup
Anti-infective medicines contribute 42% of revenues, followed by gastro intestinal 24%, vitamins/ minerals 7%, ophthalmology 6%, cardiac 7%, dermatology 4% and others 11%.[1]

  • Market Cap 7,338 Cr.
  • Current Price 451
  • High / Low 488 / 278
  • Stock P/E 25.4
  • Book Value 121
  • Dividend Yield 0.00 %
  • ROCE 12.8 %
  • ROE 9.63 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 10.7% over past five years.
  • Company has a low return on equity of 12.5% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
340 313 447 398 342 341 495 445 409 435 536 486 458
266 262 332 326 294 322 417 378 360 386 414 410 374
Operating Profit 74 52 115 71 48 19 78 67 49 49 122 76 84
OPM % 22% 16% 26% 18% 14% 6% 16% 15% 12% 11% 23% 16% 18%
35 13 23 30 13 10 19 13 18 7 29 27 25
Interest 1 1 1 1 1 1 1 1 1 1 1 1 1
Depreciation 9 10 10 9 9 9 9 10 10 10 10 10 10
Profit before tax 99 54 128 91 51 19 87 69 57 45 141 93 98
Tax % 24% 13% 24% 21% 30% 45% 19% 25% 28% 32% 22% 25% 19%
75 47 98 72 36 10 71 52 41 31 110 70 79
EPS in Rs 4.46 2.78 5.80 4.29 2.11 0.62 4.26 3.12 2.46 1.85 6.62 4.29 4.87
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
710 772 845 888 994 1,013 1,074 1,089 1,341 1,331 1,525 1,781 1,916
545 591 638 690 765 769 841 860 1,038 997 1,271 1,530 1,585
Operating Profit 165 181 207 199 229 243 233 229 304 334 254 251 331
OPM % 23% 23% 24% 22% 23% 24% 22% 21% 23% 25% 17% 14% 17%
27 46 39 46 39 44 45 42 57 95 76 50 88
Interest 1 2 3 2 1 1 1 1 3 3 3 4 4
Depreciation 18 28 25 39 34 35 35 33 37 38 37 39 39
Profit before tax 172 198 218 204 232 252 241 237 320 388 289 258 376
Tax % 22% 22% 38% 27% 27% 25% 28% 28% 25% 22% 25% 25%
134 155 135 148 169 189 174 170 240 301 216 194 289
EPS in Rs 7.33 8.49 7.61 8.33 9.48 10.60 9.95 9.74 14.03 17.85 12.82 11.70 17.63
Dividend Payout % 27% 26% 30% 27% 24% 21% 0% 0% 6% 0% 0% 0%
Compounded Sales Growth
10 Years: 9%
5 Years: 11%
3 Years: 10%
TTM: 13%
Compounded Profit Growth
10 Years: 3%
5 Years: 1%
3 Years: -7%
TTM: 67%
Stock Price CAGR
10 Years: 13%
5 Years: 22%
3 Years: 14%
1 Year: 55%
Return on Equity
10 Years: 14%
5 Years: 13%
3 Years: 13%
Last Year: 10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 18 18 18 18 18 18 18 18 17 17 17 17 16
Reserves 677 766 827 919 1,065 1,252 1,259 1,428 1,530 1,717 1,940 1,965 1,956
4 3 3 2 1 1 1 1 15 15 32 28 25
163 179 211 210 182 197 228 194 250 207 281 333 345
Total Liabilities 863 966 1,059 1,148 1,266 1,468 1,505 1,640 1,813 1,956 2,270 2,343 2,342
293 289 284 393 675 678 674 682 674 689 705 699 693
CWIP 11 7 18 29 20 6 13 12 24 19 105 198 224
Investments 340 416 417 489 325 491 471 585 665 790 886 806 731
219 254 340 237 246 293 348 360 451 458 575 640 695
Total Assets 863 966 1,059 1,148 1,266 1,468 1,505 1,640 1,813 1,956 2,270 2,343 2,342

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
144 150 150 128 174 154 150 112 250 207 162 155
-108 -107 -55 -89 -73 -144 21 -121 -98 -77 -145 11
-58 -63 -75 -48 -97 0 -169 -0 -142 -129 -10 -180
Net Cash Flow -22 -20 19 -9 4 11 1 -8 10 1 7 -14

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 22 20 26 25 23 27 28 29 34 30 20 25
Inventory Days 132 117 116 132 134 148 166 184 180 189 210 183
Days Payable 74 72 90 94 84 81 101 82 101 68 94 99
Cash Conversion Cycle 79 66 51 64 72 94 93 131 113 152 135 109
Working Capital Days 25 24 2 11 21 23 29 45 41 50 47 49
ROCE % 25% 23% 25% 21% 22% 21% 19% 17% 21% 22% 15% 13%

Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
69.35% 69.35% 69.36% 69.36% 69.50% 69.49% 69.49% 69.49% 69.49% 69.66% 69.66% 69.66%
4.76% 4.51% 4.47% 4.52% 4.34% 3.99% 3.77% 3.80% 2.06% 2.42% 2.43% 2.65%
4.48% 4.65% 5.46% 5.86% 6.07% 6.77% 7.76% 8.27% 9.13% 8.12% 7.76% 6.94%
21.40% 21.48% 20.72% 20.27% 20.09% 19.75% 18.98% 18.44% 19.32% 19.80% 20.15% 20.76%
No. of Shareholders 49,33549,88953,58286,50365,31863,17259,87157,01256,71756,92855,34152,377

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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