Lincoln Pharmaceuticals Ltd

Lincoln Pharmaceuticals Limited (LPL) is engaged in the business of manufacturing, marketing and distribution of pharmaceutical products.

Pros:
Company has good consistent profit growth of 29.61% over 5 years
Cons:
Promoter's stake has decreased
The company has delivered a poor growth of 11.13% over past five years.
Promoter holding is low: 32.39%

Peer Comparison

Pharmaceuticals >> Pharmaceuticals - Indian - Formulations
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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Dec 2015 Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018
82.69 86.89 76.11 69.82 62.81 87.85 87.19 85.64 75.56 72.50 96.63 97.95
72.15 85.70 62.88 60.36 56.92 81.58 81.37 72.65 60.84 64.14 74.96 81.85
Operating Profit 10.54 1.19 13.23 9.46 5.89 6.27 5.82 12.99 14.72 8.36 21.67 16.10
OPM % 12.75% 1.37% 17.38% 13.55% 9.38% 7.14% 6.68% 15.17% 19.48% 11.53% 22.43% 16.44%
Other Income 0.00 7.99 3.44 3.31 3.17 0.22 2.56 2.91 2.74 1.67 2.24 4.39
Interest 1.55 1.07 1.64 1.32 1.01 1.43 1.17 1.03 0.95 1.11 0.82 1.46
Depreciation 0.89 0.90 0.96 0.86 1.04 0.99 0.96 1.37 0.97 1.10 1.14 1.07
Profit before tax 8.10 7.21 14.07 10.59 7.01 4.07 6.25 13.50 15.54 7.82 21.95 17.96
Tax % 36.67% 29.40% 24.59% 25.21% 28.67% 5.41% 27.84% 26.44% 28.38% 8.06% 28.93% 19.77%
Net Profit 5.14 5.10 10.61 7.93 5.01 3.85 4.50 9.93 11.13 7.19 15.60 14.41

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
63 89 114 121 166 175 192 208 223 311 304 325 343
57 79 104 111 157 161 176 190 200 278 261 279 282
Operating Profit 6 9 10 11 9 13 16 19 23 33 43 46 61
OPM % 10% 11% 9% 9% 6% 8% 8% 9% 10% 11% 14% 14% 18%
Other Income -0 -0 -1 1 3 3 5 1 5 6 2 6 11
Interest 1 2 2 3 5 8 7 5 6 6 5 4 4
Depreciation 1 1 1 1 2 2 2 2 3 3 4 4 4
Profit before tax 4 7 7 8 6 7 11 13 19 30 36 43 63
Tax % 31% 29% 35% 28% 32% 31% 13% 9% 23% 28% 23% 24%
Net Profit 3 5 4 6 4 5 10 11 15 22 27 33 48
EPS in Rs 3.80 5.90 27.25 4.90 2.37 2.95 5.91 6.90 8.85 13.13 13.70 16.38
Dividend Payout % 30% 20% 21% 24% 24% 20% 10% 9% 11% 8% 9% 9%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:13.84%
5 Years:11.13%
3 Years:13.33%
TTM:5.92%
Compounded Profit Growth
10 Years:21.46%
5 Years:29.61%
3 Years:31.49%
TTM:107.51%
Return on Equity
10 Years:13.70%
5 Years:15.87%
3 Years:17.02%
TTM:16.09%

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 Sep 2018
8 8 9 11 16 16 16 16 16 16 20 20 20
Reserves 21 25 28 42 60 64 73 83 95 115 170 200 226
Borrowings 13 13 16 27 45 57 61 51 48 61 53 56 37
13 16 22 30 42 60 61 70 32 50 42 52 68
Total Liabilities 55 61 73 110 164 197 211 220 192 242 285 327 351
9 11 17 21 28 33 33 32 33 63 68 83 85
CWIP 0 0 0 1 4 2 2 2 3 3 7 0 1
Investments 0 4 0 0 0 11 11 11 13 20 36 39 41
47 46 56 88 132 151 164 174 144 156 174 205 224
Total Assets 55 61 73 110 164 197 211 220 192 242 285 327 351

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
2 10 2 -12 -34 10 4 9 9 29 18 18
-1 -8 -4 -6 -11 -17 -1 3 -5 -40 -26 -10
-1 -1 3 26 45 3 -1 -17 -5 11 8 -4
Net Cash Flow 0 1 1 8 1 -4 2 -5 -1 -0 -0 4

Ratios Standalone / 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
ROCE % 14% 20% 19% 16% 10% 10% 12% 12% 16% 21% 19% 18%
Debtor Days 110 69 74 94 88 136 139 152 135 88 95 108
Inventory Turnover 5 7 9 6 7 8 10 11 11 14 11 10