Lincoln Pharmaceuticals Ltd

Lincoln Pharmaceuticals Ltd

₹ 599 -0.75%
12 Apr - close price
About

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

Key Points

Product Basket
Lincoln Pharma has developed 600+ formulations in 15 therapeutic areas. It has 1700 registered products and another 700 in the pipeline. Focus areas include anti-effective, respiratory system, gynecology, cardio & CNS, antidiabetic, anti-malaria among others. [1] During FY23, co. has launched 18 products in the domestic market and filled 130 plus dossiers in the export market.

  • Market Cap 1,200 Cr.
  • Current Price 599
  • High / Low 755 / 365
  • Stock P/E 13.8
  • Book Value 273
  • Dividend Yield 0.25 %
  • ROCE 21.7 %
  • ROE 15.5 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Promoter holding has decreased over last quarter: -0.73%
  • The company has delivered a poor sales growth of 7.19% over past five years.
  • Dividend payout has been low at 4.43% 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
115 80 122 127 120 103 123 141 134 112 136 156 146
95 64 97 98 96 85 107 112 107 96 115 125 117
Operating Profit 20 15 25 29 23 17 17 29 27 17 21 31 30
OPM % 17% 19% 21% 23% 20% 17% 14% 21% 20% 15% 15% 20% 20%
1 3 2 3 3 2 6 6 6 4 8 9 11
Interest 0 1 0 0 0 1 0 0 0 1 0 0 0
Depreciation 2 2 2 2 2 2 2 2 2 2 3 3 3
Profit before tax 18 15 25 31 24 17 21 32 31 17 25 37 38
Tax % 27% 18% 29% 25% 25% 34% 28% 26% 29% 26% 25% 25% 26%
13 13 18 23 18 11 15 24 22 13 19 28 28
EPS in Rs 6.74 6.29 8.85 11.52 8.79 5.50 7.49 11.84 10.79 6.27 9.49 13.80 14.00
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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
188 195 210 266 400 360 361 366 386 424 472 510 551
174 179 190 240 359 313 308 299 321 337 376 421 452
Operating Profit 14 16 20 26 41 47 53 68 66 87 96 90 98
OPM % 7% 8% 10% 10% 10% 13% 15% 18% 17% 21% 20% 18% 18%
3 6 2 7 7 2 5 5 11 5 10 22 31
Interest 8 8 7 8 10 7 5 4 2 2 1 2 2
Depreciation 2 3 4 5 5 6 6 7 7 8 8 9 10
Profit before tax 7 11 12 20 33 37 46 62 67 84 96 100 117
Tax % 30% 16% 16% 24% 28% 25% 25% 22% 23% 26% 28% 27%
5 10 10 15 24 28 35 49 51 62 69 73 87
EPS in Rs 3.14 5.92 6.53 9.20 14.52 14.06 17.31 24.36 25.72 31.12 34.63 36.40 43.56
Dividend Payout % 19% 10% 9% 11% 7% 9% 9% 6% 6% 5% 4% 4%
Compounded Sales Growth
10 Years: 10%
5 Years: 7%
3 Years: 10%
TTM: 10%
Compounded Profit Growth
10 Years: 24%
5 Years: 16%
3 Years: 12%
TTM: 22%
Stock Price CAGR
10 Years: 30%
5 Years: 25%
3 Years: 37%
1 Year: 50%
Return on Equity
10 Years: 17%
5 Years: 17%
3 Years: 17%
Last Year: 16%

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 16 16 16 16 16 20 20 20 20 20 20 20 20
Reserves 64 73 82 95 117 172 204 249 293 346 413 482 526
65 76 68 76 78 64 61 34 5 1 2 2 1
66 72 93 70 64 48 62 63 71 85 99 83 116
Total Liabilities 212 237 260 258 275 305 347 366 389 452 534 587 663
38 65 65 66 98 103 117 121 123 111 132 151 147
CWIP 14 2 2 3 3 7 0 2 0 2 16 7 9
Investments 0 0 0 0 0 10 11 18 34 81 97 91 132
161 169 192 190 174 186 219 225 232 259 290 339 375
Total Assets 212 237 260 258 275 305 347 366 389 452 534 587 663

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
12 -16 5 25 45 25 27 53 75 69 76 39
-27 -16 1 7 -42 -25 -12 -18 -31 -64 -78 -37
16 29 -11 -32 -3 0 -11 -36 -38 -6 -3 -4
Net Cash Flow 1 -3 -4 -1 -0 -0 3 -1 7 -1 -4 -2

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 127 140 154 163 73 92 111 122 96 98 90 98
Inventory Days 64 54 62 44 36 63 86 75 95 86 121 106
Days Payable 125 133 174 92 40 54 82 92 102 105 120 77
Cash Conversion Cycle 66 62 43 116 70 100 115 106 88 78 91 126
Working Capital Days 90 84 97 145 79 115 138 143 130 119 115 123
ROCE % 10% 11% 11% 15% 22% 19% 19% 23% 22% 25% 24% 22%

Shareholding Pattern

Numbers in percentages

16 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
37.26% 37.78% 40.28% 42.08% 42.05% 44.08% 44.09% 46.34% 47.00% 48.68% 50.53% 49.81%
0.00% 0.01% 0.75% 0.95% 0.77% 0.64% 0.63% 1.44% 1.27% 1.74% 2.59% 3.22%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.06%
62.74% 62.21% 58.97% 56.97% 57.19% 55.28% 55.29% 52.22% 51.74% 49.57% 46.87% 46.92%
No. of Shareholders 21,41526,42030,27431,91332,44731,90231,73129,84629,08827,48028,67029,316

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Concalls