GlaxoSmithkline Consumer Healthcare Ltd(Merged)

GlaxoSmithkline Consumer Healthcare Ltd(Merged)

₹ 10,733 4.85%
15 Apr 2020
About

GlaxoSmithkline Consumer Healthcare is engaged in manufacturing and sale of healthcare consumer products.(Source : 201903 Annual Report Page No: 52)

Key Points

GSK Consumer Healthcare Ltd is an associate of GlaxoSmithKline plc.of U.K, one of world’s largest consumer healthcare companies. We have a heritage that goes back over 160 years. Our purpose is to help more people around the world to do more, feel better and live longer with everyday healthcare products. Our goal is to build a global, growing business - we call a Fast Moving Consumer Healthcare (FMCH) company - dedicated to everyday healthcare with all of the scientific expertise and quality guarantees that demands, working at the speed and with the genuine consumer understanding the modern world expects. [1]

  • Market Cap 45,141 Cr.
  • Current Price 10,733
  • High / Low /
  • Stock P/E 39.1
  • Book Value 989
  • Dividend Yield 0.00 %
  • ROCE 39.9 %
  • ROE 25.9 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 44.9%

Cons

  • Stock is trading at 10.9 times its book value
  • The company has delivered a poor sales growth of -0.36% over past five years.
  • Earnings include an other income of Rs.444 Cr.

* 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.

Peer comparison

Sector: FMCG Industry: Food - Processing - MNC

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Quarterly Results

Figures in Rs. Crores

Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019
860 1,103 986 1,112 1,039 1,180 1,107 1,272 1,117 1,286 1,194 1,345 1,159
693 885 819 853 832 930 877 918 878 968 914 949 887
Operating Profit 168 218 167 259 208 250 230 354 239 318 280 396 272
OPM % 19% 20% 17% 23% 20% 21% 21% 28% 21% 25% 23% 29% 23%
56 70 55 57 61 84 96 89 124 123 127 78 116
Interest 1 1 1 1 0 1 0 0 0 0 2 2 1
Depreciation 17 18 17 18 15 15 15 15 16 15 20 20 19
Profit before tax 206 269 204 298 253 319 312 427 347 426 386 452 367
Tax % 34% 35% 35% 35% 35% 34% 36% 36% 36% 33% 36% 24% 25%
136 176 132 192 164 212 200 275 221 286 248 345 277
EPS in Rs 32.40 41.78 31.41 45.70 38.87 50.31 47.61 65.44 52.51 67.89 58.93 82.02 65.71
Raw PDF

Profit & Loss

Figures in Rs. Crores

Dec 2007 Dec 2008 Dec 2009 Dec 2010 Dec 2011 Dec 2012 Mar 2014 15m Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
1,274 1,542 1,921 2,306 2,765 3,187 4,869 4,308 4,136 3,991 4,317 4,782 4,984
1,049 1,308 1,611 1,932 2,261 2,614 3,996 3,569 3,298 3,153 3,433 3,641 3,718
Operating Profit 225 234 310 374 504 573 873 739 838 838 883 1,141 1,267
OPM % 18% 15% 16% 16% 18% 18% 18% 17% 20% 21% 20% 24% 25%
69 98 89 120 85 114 207 213 278 239 257 433 444
Interest 5 5 4 3 3 2 1 1 2 3 2 1 5
Depreciation 43 42 42 40 46 36 63 62 57 64 64 60 74
Profit before tax 245 284 354 452 540 649 1,016 889 1,056 1,010 1,074 1,512 1,631
Tax % 34% 34% 34% 34% 34% 33% 34% 34% 35% 35% 35% 35%
163 188 233 300 355 437 675 584 687 657 700 983 1,156
EPS in Rs 38.64 44.73 55.29 71.22 84.37 103.74 160.27 138.62 163.25 155.98 166.29 233.44 274.55
Dividend Payout % 31% 34% 33% 70% 41% 43% 28% 40% 43% 45% 45% 45%
Compounded Sales Growth
10 Years: 12%
5 Years: 0%
3 Years: 5%
TTM: 7%
Compounded Profit Growth
10 Years: 18%
5 Years: 8%
3 Years: 13%
TTM: 27%
Stock Price CAGR
10 Years: 6%
5 Years: 4%
3 Years: %
1 Year: %
Return on Equity
10 Years: 28%
5 Years: 25%
3 Years: 23%
Last Year: 26%

Balance Sheet

Figures in Rs. Crores

Dec 2007 Dec 2008 Dec 2009 Dec 2010 Dec 2011 Dec 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Sep 2019
Equity Capital 42 42 42 42 42 42 42 42 42 42 42 42 42
Reserves 604 719 863 918 1,102 1,319 1,771 2,071 2,757 3,081 3,443 4,053 4,120
0 0 0 0 0 0 0 0 13 8 0 0 0
266 319 511 800 938 1,194 1,599 1,907 1,684 1,824 1,928 1,973 1,981
Total Liabilities 912 1,079 1,416 1,760 2,082 2,555 3,411 4,020 4,495 4,955 5,413 6,068 6,143
226 210 194 202 201 194 340 492 481 487 476 462 503
CWIP 17 16 38 108 149 197 38 42 51 58 38 18 15
Investments 298 0 0 0 0 0 0 0 0 0 0 0 0
371 853 1,184 1,450 1,733 2,163 3,033 3,486 3,963 4,410 4,899 5,588 5,625
Total Assets 912 1,079 1,416 1,760 2,082 2,555 3,411 4,020 4,495 4,955 5,413 6,068 6,143

Cash Flows

Figures in Rs. Crores

Dec 2007 Dec 2008 Dec 2009 Dec 2010 Dec 2011 Dec 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
188 135 400 326 391 554 644 611 573 603 723 671
-21 19 -22 -79 -125 -377 -271 331 -152 -602 -446 -335
-63 -55 -30 -91 -248 -175 -223 -222 -286 -361 -363 -377
Net Cash Flow 104 99 349 156 17 2 150 720 136 -361 -87 -41

Ratios

Figures in Rs. Crores

Dec 2007 Dec 2008 Dec 2009 Dec 2010 Dec 2011 Dec 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
Debtor Days 8 10 6 8 13 13 22 27 31 29 24 29
Inventory Days 222 238 178 170 171 148 108 114 125 160 127 148
Days Payable 164 148 191 194 166 192 178 185 213 303 312 303
Cash Conversion Cycle 66 100 -7 -16 18 -31 -48 -45 -57 -114 -161 -125
Working Capital Days 8 17 -30 -56 -42 -60 -39 -57 -36 -50 -65 -49
ROCE % 42% 41% 43% 48% 52% 52% 64% 46% 43% 34% 33% 40%

Shareholding Pattern

Numbers in percentages

Mar 2017Jun 2017Sep 2017Dec 2017Mar 2018Jun 2018Sep 2018Dec 2018Mar 2019Jun 2019Sep 2019Dec 2019
72.46% 72.46% 72.46% 72.46% 72.46% 72.46% 72.46% 72.46% 72.46% 72.46% 72.46% 72.46%
4.37% 4.15% 3.95% 4.10% 4.54% 3.96% 4.00% 4.68% 4.27% 4.20% 4.37% 4.58%
8.39% 8.64% 8.91% 8.69% 8.20% 8.43% 8.29% 7.33% 7.22% 6.92% 6.92% 6.56%
14.78% 14.75% 14.68% 14.76% 14.80% 15.15% 15.26% 15.54% 16.05% 16.42% 16.26% 16.40%
No. of Shareholders 41,91641,17840,92839,61245,71247,74951,50453,86354,86754,62654,33353,936

* 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.

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