GlaxoSmithkline Consumer Healthcare Ltd

About

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

  • Market Cap 45,141 Cr.
  • Current Price 10,733
  • High / Low 11,296 / 7,201
  • 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 44.94%

Cons

  • Stock is trading at 10.86 times its book value
  • The company has delivered a poor growth of -0.36% over past five years.
  • Earnings include an other income of Rs.443.64 Cr.

Peer comparison

Sector: FMCG Industry: Food - Processing - MNC

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Quarterly Results

Figures in Rs. Crores

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

Profit & Loss

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 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 1,306 1,611 1,929 2,261 2,614 3,996 3,569 3,298 3,153 3,433 3,641 3,718
Operating Profit 225 236 311 377 504 573 873 738 838 838 883 1,141 1,267
OPM % 18% 15% 16% 16% 18% 18% 18% 17% 20% 21% 20% 24% 25%
Other Income 68 95 89 117 85 114 207 214 278 239 257 433 444
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%
Net Profit 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:17%
5 Years:12%
3 Years:21%
1 Year:22%
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
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
Borrowings -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
ROCE % 42% 41% 43% 48% 52% 52% 64% 46% 43% 34% 33% 40%
Debtor Days 8 10 6 8 13 13 22 27 31 29 24 29
Inventory Turnover 2.06 1.99 2.15 2.48 2.47 2.63 3.80 3.58 3.07 2.44 2.87 2.80

Shareholding Pattern

Numbers in percentages

Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 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

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