Ipca Laboratories Ltd
Ipca Laboratories is engaged in the manufacturing and marketing of pharmaceuticals.(Source : 201903 Annual Report Page No: 68)
- Market Cap ₹ 28,802 Cr.
- Current Price ₹ 1,135
- High / Low ₹ 1,140 / 670
- Stock P/E 59.5
- Book Value ₹ 242
- Dividend Yield 0.35 %
- ROCE 11.2 %
- ROE 8.04 %
- Face Value ₹ 1.00
Pros
Cons
- Company might be capitalizing the interest cost
- Dividend payout has been low at 14.0% of profits 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.
Peer comparison
Sector: Pharmaceuticals Industry: Pharmaceuticals - Indian - Bulk Drugs & Formln
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2,359 | 2,813 | 3,282 | 3,144 | 2,867 | 3,156 | 3,258 | 3,746 | 4,619 | 5,395 | 5,797 | 6,204 | 6,677 | |
1,894 | 2,248 | 2,539 | 2,604 | 2,573 | 2,705 | 2,803 | 3,051 | 3,715 | 3,843 | 4,472 | 5,272 | 5,651 | |
Operating Profit | 465 | 565 | 743 | 541 | 294 | 451 | 455 | 695 | 904 | 1,552 | 1,325 | 932 | 1,026 |
OPM % | 20% | 20% | 23% | 17% | 10% | 14% | 14% | 19% | 20% | 29% | 23% | 15% | 15% |
11 | 13 | 21 | 32 | 21 | 11 | 41 | 56 | 65 | 59 | 54 | 123 | 151 | |
Interest | 44 | 36 | 30 | 32 | 35 | 27 | 28 | 22 | 20 | 12 | 11 | 48 | 105 |
Depreciation | 67 | 87 | 103 | 180 | 163 | 173 | 178 | 182 | 210 | 209 | 232 | 262 | 296 |
Profit before tax | 364 | 454 | 631 | 361 | 117 | 262 | 291 | 546 | 739 | 1,389 | 1,136 | 745 | 776 |
Tax % | 24% | 29% | 24% | 28% | 18% | 26% | 18% | 19% | 18% | 17% | 20% | 34% | |
277 | 324 | 479 | 254 | 93 | 195 | 239 | 442 | 604 | 1,141 | 890 | 479 | 488 | |
EPS in Rs | 11.01 | 12.82 | 18.96 | 10.07 | 3.69 | 7.71 | 9.49 | 17.60 | 23.99 | 44.94 | 34.85 | 18.58 | 19.41 |
Dividend Payout % | 15% | 16% | 13% | 5% | 0% | 6% | 5% | 9% | 10% | 9% | 11% | 22% |
Compounded Sales Growth | |
---|---|
10 Years: | 8% |
5 Years: | 14% |
3 Years: | 10% |
TTM: | 13% |
Compounded Profit Growth | |
---|---|
10 Years: | 3% |
5 Years: | 14% |
3 Years: | -9% |
TTM: | -21% |
Stock Price CAGR | |
---|---|
10 Years: | 13% |
5 Years: | 23% |
3 Years: | 0% |
1 Year: | 31% |
Return on Equity | |
---|---|
10 Years: | 15% |
5 Years: | 17% |
3 Years: | 17% |
Last Year: | 8% |
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 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 |
Reserves | 1,229 | 1,529 | 1,934 | 2,183 | 2,234 | 2,430 | 2,663 | 3,097 | 3,590 | 4,676 | 5,439 | 5,817 | 6,123 |
601 | 617 | 603 | 935 | 867 | 716 | 628 | 465 | 501 | 265 | 807 | 1,481 | 1,987 | |
472 | 526 | 648 | 669 | 765 | 788 | 799 | 961 | 1,142 | 1,099 | 1,349 | 1,300 | 3,248 | |
Total Liabilities | 2,327 | 2,697 | 3,211 | 3,812 | 3,892 | 3,960 | 4,116 | 4,549 | 5,258 | 6,066 | 7,622 | 8,623 | 11,384 |
944 | 1,104 | 1,354 | 1,800 | 2,014 | 1,983 | 1,953 | 1,940 | 2,059 | 2,072 | 2,402 | 2,751 | 4,588 | |
CWIP | 95 | 129 | 165 | 267 | 129 | 95 | 73 | 66 | 133 | 235 | 306 | 140 | 267 |
Investments | 34 | 9 | 9 | 16 | 26 | 136 | 87 | 120 | 310 | 505 | 989 | 626 | 760 |
1,255 | 1,455 | 1,683 | 1,729 | 1,723 | 1,746 | 2,003 | 2,422 | 2,756 | 3,254 | 3,924 | 5,105 | 5,769 | |
Total Assets | 2,327 | 2,697 | 3,211 | 3,812 | 3,892 | 3,960 | 4,116 | 4,549 | 5,258 | 6,066 | 7,622 | 8,623 | 11,384 |
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
354 | 389 | 522 | 468 | 709 | 282 | 341 | 501 | 570 | 1,090 | 856 | 806 | |
-280 | -260 | -369 | -689 | -218 | -149 | -135 | -165 | -509 | -521 | -851 | -725 | |
-72 | -83 | -136 | 251 | -462 | -159 | -130 | -183 | -137 | -306 | 427 | 507 | |
Net Cash Flow | 2 | 46 | 18 | 29 | 29 | -26 | 75 | 153 | -76 | 264 | 432 | 588 |
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 | 54 | 54 | 50 | 41 | 57 | 58 | 67 | 66 | 71 | 55 | 57 | 58 |
Inventory Days | 268 | 247 | 272 | 293 | 289 | 290 | 286 | 316 | 294 | 337 | 337 | 276 |
Days Payable | 95 | 89 | 110 | 97 | 145 | 130 | 137 | 154 | 135 | 140 | 101 | 83 |
Cash Conversion Cycle | 227 | 212 | 213 | 237 | 200 | 218 | 216 | 228 | 229 | 251 | 293 | 251 |
Working Capital Days | 117 | 112 | 98 | 106 | 84 | 94 | 107 | 109 | 113 | 119 | 127 | 119 |
ROCE % | 24% | 24% | 28% | 14% | 5% | 9% | 10% | 16% | 19% | 31% | 20% | 11% |
Documents
Announcements
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 22 Nov
- Announcement under Regulation 30 (LODR)-Newspaper Publication 13 Nov
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
13 Nov - Transcript of Q2 / H1 FY24 Earnings Call
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 13 Nov
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
10 Nov - Audio Link for Investors / Analysts Call held on 10.11.2023
Annual reports
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Financial Year 2010
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Concalls
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Nov 2023TranscriptPPT
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Nov 2019TranscriptPPT
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May 2019TranscriptPPT
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Feb 2019TranscriptPPT
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Nov 2018TranscriptPPT
Integrated nature of operations
Ipca Laboratories is a fully-integrated pharmaceutical company that manufactures over 350 formulations and 80 APIs for various therapeutic segments. [1]
IPCA is among India’s top 20 pharmaceutical companies. [2]
Business segments FY22:
API Business (25%) [3]
Ipca produces over 80 APIs, nearly 79% of the APIs and Intermediates business is from exports making them one of India’s top exporters of APIs, serving over 100 countries around the globe. The core strategic focus has been on backward integration, resulting in superior supply chain reliability and cost competitiveness [4] [1] [5]