Lincoln Pharmaceuticals Ltd

About

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

  • Market Cap 433 Cr.
  • Current Price 216
  • High / Low 283 / 85.0
  • Stock P/E 8.26
  • Book Value 152
  • Dividend Yield 0.69 %
  • ROCE 21.8 %
  • ROE 17.5 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is virtually debt free.
  • Company has delivered good profit growth of 27.92% CAGR over last 5 years

Cons

  • The company has delivered a poor growth of 10.99% over past five years.
  • Promoter holding is low: 32.41%
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
86 76 72 97 98 81 77 95 111 96 75 101
73 61 64 75 82 68 68 77 88 84 68 81
Operating Profit 13 15 8 22 16 13 10 17 23 12 8 20
OPM % 15% 19% 12% 22% 16% 16% 12% 18% 20% 12% 10% 20%
Other Income 3 3 2 2 4 1 -1 2 3 2 5 2
Interest 1 1 1 1 1 1 1 1 1 0 0 0
Depreciation 1 1 1 1 1 1 1 1 1 1 1 1
Profit before tax 14 16 8 22 18 11 7 17 24 12 11 21
Tax % 26% 28% 8% 29% 20% 16% -3% 28% 24% 16% 19% 27%
Net Profit 10 11 7 16 14 9 7 12 18 10 9 15
EPS in Rs 4.96 5.56 3.60 7.80 7.20 4.72 3.59 6.08 9.00 5.09 4.62 7.50
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

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
114 121 165 175 192 208 223 311 304 325 353 376 383
104 111 156 161 176 190 200 278 261 279 292 317 320
Operating Profit 10 11 9 13 16 19 23 33 43 46 61 59 62
OPM % 9% 9% 6% 8% 8% 9% 10% 11% 14% 14% 17% 16% 16%
Other Income -1 1 3 3 5 1 5 6 2 6 6 12 13
Interest 2 3 5 8 7 5 6 6 5 4 4 2 2
Depreciation 1 1 2 2 2 2 3 3 4 4 5 5 5
Profit before tax 7 8 6 7 11 13 19 30 36 43 58 64 68
Tax % 35% 28% 32% 31% 13% 9% 23% 28% 23% 24% 20% 23%
Net Profit 4 6 4 5 10 11 15 22 27 33 47 50 52
EPS in Rs 5.10 2.47 3.05 6.01 7.01 9.06 13.33 13.70 16.38 23.32 24.78 26.21
Dividend Payout % 21% 24% 24% 20% 10% 9% 11% 8% 9% 9% 6% 6%
Compounded Sales Growth
10 Years:12%
5 Years:11%
3 Years:7%
TTM:9%
Compounded Profit Growth
10 Years:24%
5 Years:28%
3 Years:22%
TTM:21%
Stock Price CAGR
10 Years:18%
5 Years:7%
3 Years:3%
1 Year:33%
Return on Equity
10 Years:15%
5 Years:18%
3 Years:18%
Last Year:17%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
9 11 16 16 16 16 16 16 20 20 20 20
Reserves 28 42 60 64 73 83 95 115 170 200 243 284
Borrowings 16 27 45 57 61 51 48 61 53 56 34 5
22 30 42 60 61 70 32 50 39 50 51 58
Total Liabilities 73 110 164 197 211 220 192 242 282 326 347 367
17 21 28 33 33 32 33 63 68 83 88 91
CWIP 0 1 4 2 2 2 3 3 7 0 2 0
Investments 0 0 0 11 11 11 13 20 36 39 46 60
56 88 132 151 164 174 143 156 171 204 211 216
Total Assets 73 110 164 197 211 220 192 242 282 326 347 367

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
2 -12 -34 10 4 9 9 29 18 21 51 71
-4 -6 -11 -17 -1 3 -5 -40 -26 -14 -22 -29
3 26 45 3 -1 -17 -5 11 8 -4 -30 -38
Net Cash Flow 1 8 1 -4 2 -5 -1 -0 -0 4 -1 4

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 % 19% 16% 10% 10% 12% 12% 16% 21% 19% 18% 22% 22%
Debtor Days 74 94 88 136 139 152 135 88 95 108 117 88
Inventory Turnover 5.54 3.77 4.38 4.83 6.63 7.64 7.28 9.44 6.31 5.20 5.58 5.80

Shareholding Pattern

Numbers in percentages

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
33.43 32.14 32.39 32.39 32.39 32.39 32.40 32.40 32.40 32.36 32.36 32.41
0.00 0.00 0.00 0.47 0.43 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.09 0.06 0.20 0.15 0.23 0.33 0.30 0.23 0.28 0.35 0.43 0.00
0.09 0.09 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
66.39 67.70 67.40 66.99 66.94 67.28 67.31 67.37 67.33 67.29 67.21 67.59

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