Ipca Laboratories Ltd

About [ edit ]

Ipca Laboratories is engaged in the manufacturing and marketing of pharmaceuticals.(Source : 201903 Annual Report Page No: 68)

  • Market Cap 27,259 Cr.
  • Current Price 2,149
  • High / Low 2,460 / 1,466
  • Stock P/E 25.6
  • Book Value 345
  • Dividend Yield 0.37 %
  • ROCE 19.4 %
  • ROE 18.0 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 19.39% CAGR over last 5 years

Cons

  • The company has delivered a poor sales growth of 7.99% over past five years.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
875 1,012 1,006 880 1,078 1,284 1,213 1,074 1,534 1,361 1,410
757 838 772 716 881 1,019 942 908 947 1,003 1,045
Operating Profit 119 174 234 164 197 264 271 166 587 358 365
OPM % 14% 17% 23% 19% 18% 21% 22% 15% 38% 26% 26%
Other Income 15 15 13 15 20 15 18 14 12 15 15
Interest 5 2 5 6 5 4 4 4 3 2 2
Depreciation 47 45 46 45 46 50 51 64 51 52 54
Profit before tax 82 141 197 128 167 225 234 112 546 319 324
Tax % 16% 16% 19% 25% 22% 14% 16% 26% 18% 16% 17%
Net Profit 69 119 159 99 130 193 198 86 446 267 265
EPS in Rs 5.43 9.38 12.60 7.80 10.26 15.28 15.64 6.81 35.31 21.05 20.93

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
1,286 1,567 1,900 2,359 2,813 3,282 3,144 2,867 3,156 3,258 3,746 4,619 5,379
1,125 1,258 1,478 1,894 2,250 2,540 2,604 2,575 2,707 2,804 3,052 3,717 3,903
Operating Profit 161 308 421 465 563 742 540 292 449 454 693 902 1,476
OPM % 13% 20% 22% 20% 20% 23% 17% 10% 14% 14% 19% 20% 27%
Other Income 34 38 7 11 14 22 33 22 13 42 58 67 57
Interest 38 33 32 44 36 30 32 35 27 28 22 20 11
Depreciation 40 47 56 67 87 103 180 163 173 178 182 210 221
Profit before tax 118 266 341 364 454 631 361 117 262 291 546 739 1,301
Tax % 20% 24% 23% 24% 29% 24% 28% 18% 26% 18% 19% 18%
Net Profit 101 205 263 277 324 479 254 93 195 239 445 606 1,065
EPS in Rs 8.07 16.40 20.91 22.02 25.64 37.92 20.15 7.38 15.42 18.97 35.21 47.99 84.10
Dividend Payout % 27% 17% 15% 15% 16% 13% 5% 0% 6% 5% 9% 10%
Compounded Sales Growth
10 Years:11%
5 Years:8%
3 Years:14%
TTM:21%
Compounded Profit Growth
10 Years:11%
5 Years:19%
3 Years:47%
TTM:72%
Stock Price CAGR
10 Years:22%
5 Years:37%
3 Years:45%
1 Year:35%
Return on Equity
10 Years:15%
5 Years:12%
3 Years:15%
Last Year:18%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
25 25 25 25 25 25 25 25 25 25 25 25 25
Reserves 606 840 1,026 1,229 1,529 1,934 2,183 2,234 2,430 2,663 3,097 3,590 4,348
Borrowings 459 455 530 601 617 603 935 867 716 628 465 501 335
281 294 330 472 526 648 669 765 788 799 961 1,142 1,182
Total Liabilities 1,372 1,614 1,912 2,327 2,697 3,211 3,812 3,892 3,960 4,116 4,549 5,258 5,890
577 638 699 944 1,104 1,354 1,800 2,014 1,983 1,953 1,940 2,107 2,048
CWIP 14 38 95 95 129 165 267 129 95 73 66 85 142
Investments 41 33 41 34 9 9 16 26 136 87 120 310 296
739 905 1,077 1,255 1,455 1,683 1,729 1,723 1,746 2,003 2,422 2,756 3,404
Total Assets 1,372 1,614 1,912 2,327 2,697 3,211 3,812 3,892 3,960 4,116 4,549 5,258 5,890

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
152 191 214 354 389 522 468 709 282 341 501 564
-109 -117 -198 -280 -260 -369 -689 -218 -149 -135 -165 -509
-42 -74 -18 -72 -83 -136 251 -462 -159 -130 -183 -130
Net Cash Flow 1 0 -2 2 46 18 29 29 -26 75 153 -76

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 15% 25% 26% 24% 24% 28% 14% 5% 9% 10% 16% 19%
Debtor Days 96 90 71 54 54 50 41 57 58 67 66 71
Inventory Turnover 2.01 2.10 1.97 1.75 1.70 1.59 1.45 1.36 1.47 1.46 1.45 1.54

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
46.07 46.07 46.07 46.07 46.07 46.07 46.07 46.07 46.07 46.07 46.29 46.29
17.06 16.41 15.77 14.87 15.58 16.14 13.99 12.64 12.39 12.40 18.22 17.47
22.78 23.88 24.79 24.88 24.07 24.07 25.93 26.61 28.06 28.65 24.22 24.82
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.12 0.16 0.28 0.28 0.28
14.09 13.64 13.36 14.18 14.28 13.71 14.00 14.56 13.32 12.59 10.99 11.14

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