Hester Biosciences Ltd // Pharmaceuticals

Pros:
Company has good consistent profit growth of 25.80% over 5 years
Company has been maintaining a healthy dividend payout of 22.09%
Cons:

Peer Comparison

S.No. Name CMP Rs. P/E Mar Cap Rs.Cr. Div Yld % NP Qtr Rs.Cr. Qtr Profit Var % Sales Qtr Rs.Cr. Qtr Sales Var % ROCE %
1. Piramal Enterp. 2518.35 9.07 45502.37 0.99 -69.81 -33.36 2902.49 29.24 28.33
2. Sun Pharma.Inds. 624.00 37.04 149717.86 0.32 1111.06 138.36 7224.17 16.35 10.24
3. Unichem Labs. 207.25 0.58 1457.86 2.41 -20.65 -1476.67 201.43 42.54 -242.51
4. Aurobindo Pharma 731.35 18.15 42850.35 0.34 455.66 -12.12 4250.27 15.54 25.84
5. Cadila Health. 385.05 18.79 39419.21 0.91 460.50 232.73 2893.70 32.42 21.04
6. Claris Lifescien 396.55 1.37 2163.88 0.50 -317.43 -1809.37 2.07 -54.51 -10.91
7. Cipla 645.60 35.00 51985.51 0.46 445.61 4.87 3938.99 11.74 8.91
8. Hester Bios 1140.45 28.49 970.17 0.88 9.68 56.63 38.26 33.92 34.90

Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2015 Dec 2015 Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018
24.0 24.18 28.18 30.72 30.17 29.09 34.93 28.57 38.48 31.93 37.49 38.26
16.56 16.49 18.43 19.97 20.95 19.67 23.25 17.81 23.41 19.31 26.33 23.5
Operating Profit 7.44 7.69 9.75 10.75 9.22 9.42 11.68 10.76 15.07 12.62 11.16 14.76
OPM % 31.0% 31.8% 34.6% 34.99% 30.56% 32.38% 33.44% 37.66% 39.16% 39.52% 29.77% 38.58%
Other Income 0.27 0.59 0.33 0.34 0.11 0.19 0.1 0.55 0.63 0.37 0.32 0.77
Depreciation 1.29 1.43 1.68 1.29 1.34 1.24 1.64 1.38 1.33 1.31 1.43 1.59
Interest 0.52 0.92 1.04 0.78 0.88 0.78 0.78 0.62 0.35 0.75 0.6 0.53
Profit before tax 5.91 5.93 7.36 9.01 7.12 7.59 9.36 9.32 14.02 10.93 9.45 13.41
Tax 1.61 1.17 1.86 2.99 1.12 1.77 2.26 3.14 5.16 4.42 0.43 3.72
Net Profit 4.3 4.76 5.51 6.02 5.99 5.82 7.11 6.18 8.86 6.5 9.01 9.68

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
22 33 30 38 42 48 65 69 90 101 123 135 146
13 16 15 21 24 29 43 44 64 67 82 85 93
Operating Profit 9 17 15 16 18 19 22 25 26 33 41 50 54
OPM % 39.95% 52.04% 49.04% 42.93% 43.04% 39.18% 34.46% 36.68% 28.52% 33.11% 33.32% 36.8% 36.68%
Other Income 0 0 0 0 0 0 0 1 3 1 1 2 2
Interest 1 3 3 2 3 3 3 6 4 4 3 2 2
Depreciation 0 4 4 4 4 4 4 5 5 6 6 5 6
Profit before tax 8 11 8 10 11 12 15 14 19 25 33 44 48
Tax 3 4 3 4 4 4 5 4 5 6 8 13 14
Net Profit 5 7 5 6 8 8 10 10 14 19 25 31 34
EPS 6.39 8.76 5.81 7.41 9.38 9.05 11.05 11.52 15.82 22.6 29.32 35.92
Dividend Payout % 20.19% 18.47% 27.43% 25.87% 23.95% 7.32% 17.54% 16.85% 18.87% 18.16% 18.08% 27.85%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:18.10%
5 Years:15.66%
3 Years:14.39%
TTM:19.06%
Compounded Profit Growth
10 Years:22.99%
5 Years:25.80%
3 Years:36.66%
TTM:35.66%
Return on Equity
10 Years:18.09%
5 Years:19.87%
3 Years:22.20%
TTM:22.77%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
5 5 5 5 5 6 9 9 9 9 9 9
Reserves 23 28 31 36 41 54 59 67 76 92 114 138
Borrowings 22 20 19 20 21 16 24 35 39 39 39 43
15 17 22 20 14 16 23 18 18 20 22 24
Total Liabilities 66 71 77 81 82 92 115 129 140 159 184 213
35 41 41 40 39 37 35 51 57 62 61 67
CWIP 1 0 0 0 0 6 24 13 14 10 21 30
Investments 0 0 0 0 3 3 3 4 9 9 9 14
30 30 37 41 40 47 53 61 61 78 93 101
Total Assets 66 71 77 81 82 92 115 129 140 159 184 213

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
18 10 8 16 8 13 13 11 20 19 28 31
-29 -9 -3 -3 -6 -7 -18 -14 -12 -6 -15 -26
18 -7 -4 -12 -1 -5 4 3 -5 -12 -6 -5
Net Cash Flow 7 -6 0 0 0 0 0 0 3 1 6 0