Lincoln Pharmaceuticals Ltd

₹ 284 0.02%
May 20 - close price
About

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

Key Points

Revenue mix
Domestic sales: 164 Cr. in FY21 vs 168 Cr. in FY20
Exports: 261 Cr. in FY21 vs 218 Cr. in FY20
Focus of the company shifted from domestic contract manufacturing business to exports business in FY17 leading to higher margins in recent years.

  • Market Cap 569 Cr.
  • Current Price 284
  • High / Low 415 / 275
  • Stock P/E 8.20
  • Book Value 216
  • Dividend Yield 0.53 %
  • ROCE 24.0 %
  • ROE 17.2 %
  • Face Value 10.0

Pros

  • Company is almost debt free.

Cons

  • The company has delivered a poor sales growth of 5.56% over past five 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
97 113 99 78 104 126 115 80 122 127 120 103
78 88 85 70 82 96 95 64 97 98 96 85
Operating Profit 19 25 13 9 22 30 20 15 25 29 23 17
OPM % 20% 22% 13% 11% 21% 24% 17% 19% 21% 23% 20% 17%
1 3 3 4 2 1 1 3 2 3 3 2
Interest 1 1 1 -1 1 -0 0 1 0 0 0 1
Depreciation 2 2 2 2 2 2 2 2 2 2 2 2
Profit before tax 18 25 13 12 21 29 18 15 25 31 24 17
Tax % 29% 24% 16% 22% 29% 27% 27% 18% 29% 25% 25% 34%
Net Profit 13 19 11 9 15 21 13 13 18 23 18 11
EPS in Rs 6.34 9.46 5.46 4.47 7.63 10.46 6.74 6.29 8.85 11.51 8.79 5.50

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
176 188 195 210 266 400 360 361 366 386 424 472
167 174 179 190 240 359 313 308 299 321 337 377
Operating Profit 10 14 16 20 26 41 47 53 68 66 87 95
OPM % 5% 7% 8% 10% 10% 10% 13% 15% 18% 17% 21% 20%
3 3 6 2 7 7 2 5 5 11 5 10
Interest 5 8 8 7 8 10 7 5 4 2 2 1
Depreciation 2 2 3 4 5 5 6 6 7 7 8 8
Profit before tax 6 7 11 12 20 33 37 46 62 67 84 96
Tax % 33% 30% 16% 16% 24% 28% 25% 25% 22% 23% 26% 28%
Net Profit 4 5 10 11 15 24 28 35 49 51 62 69
EPS in Rs 2.56 3.14 5.92 6.53 9.20 14.52 14.06 17.31 24.36 25.72 31.11 34.63
Dividend Payout % 23% 19% 10% 9% 11% 7% 9% 9% 6% 6% 5% 4%
Compounded Sales Growth
10 Years: 10%
5 Years: 6%
3 Years: 9%
TTM: 11%
Compounded Profit Growth
10 Years: 32%
5 Years: 20%
3 Years: 12%
TTM: 11%
Stock Price CAGR
10 Years: 26%
5 Years: 7%
3 Years: 15%
1 Year: -13%
Return on Equity
10 Years: 17%
5 Years: 18%
3 Years: 18%
Last Year: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
16 16 16 16 16 16 20 20 20 20 20 20
Reserves 60 64 73 82 95 117 172 204 249 293 355 413
Borrowings 44 65 76 68 76 78 64 61 34 5 1 2
44 66 72 93 70 64 48 62 63 71 84 99
Total Liabilities 165 212 237 260 258 275 305 347 366 389 459 534
28 38 65 65 66 98 103 117 121 123 120 132
CWIP 4 14 2 2 3 3 7 0 2 0 2 16
Investments 0 0 0 0 0 0 10 11 18 34 81 97
133 161 169 192 190 174 186 219 225 232 257 290
Total Assets 165 212 237 260 258 275 305 347 366 389 459 534

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-34 12 -16 5 25 45 25 27 53 75 69 76
-11 -27 -16 1 7 -42 -25 -12 -18 -31 -64 -78
45 16 29 -11 -32 -3 0 -11 -36 -38 -6 -3
Net Cash Flow -0 1 -3 -4 -1 -0 -0 3 -1 7 -1 -4

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 83 127 140 154 163 73 92 111 122 96 96 90
Inventory Days 90 64 54 62 44 36 63 86 75 95 86 121
Days Payable 78 125 133 174 92 40 54 82 92 102 105 120
Cash Conversion Cycle 95 66 62 43 116 70 100 115 106 88 77 91
Working Capital Days 144 99 91 98 146 81 122 144 145 130 119 188
ROCE % 10% 10% 11% 12% 16% 22% 19% 19% 23% 22% 25% 24%

Shareholding Pattern

Numbers in percentages

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
32.40 32.40 32.40 32.36 32.36 32.41 33.41 37.26 37.78 40.28 42.08 42.05
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.75 0.95 0.77
0.30 0.23 0.28 0.35 0.43 0.00 0.00 0.00 0.00 0.00 0.00 0.00
67.31 67.37 67.33 67.29 67.21 67.59 66.59 62.74 62.21 58.97 56.97 57.19

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