Morepen Laboratories Ltd

About [ edit ]

Morepen Laboratories is engaged in the business of manufacturing, producing, developing and marketing a wide range of Active Pharmaceutical Ingredients (APIs), branded and generic formulations and also the Home Health products.

  • Market Cap 1,309 Cr.
  • Current Price 29.1
  • High / Low 35.1 / 7.20
  • Stock P/E 16.1
  • Book Value 7.36
  • Dividend Yield 0.00 %
  • ROCE 10.2 %
  • ROE 12.5 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter

Cons

  • Stock is trading at 3.95 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoter holding is low: 34.54%
  • Tax rate seems low
  • Company has a low return on equity of 12.79% for last 3 years.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
171 164 174 212 219 203 213 230 207 258 336 307
154 152 157 195 197 184 198 215 188 231 305 278
Operating Profit 18 12 17 17 22 19 15 15 19 27 32 30
OPM % 10% 7% 10% 8% 10% 10% 7% 7% 9% 10% 9% 10%
Other Income 0 0 0 2 1 0 3 5 2 1 4 3
Interest 1 0 0 0 1 0 0 1 1 0 0 1
Depreciation 10 9 10 10 11 12 8 9 9 8 8 8
Profit before tax 7 3 7 9 11 8 9 11 11 20 28 24
Tax % -0% 7% -3% 1% 2% 0% 56% 0% 3% 1% 1% 0%
Net Profit 7 2 7 9 10 8 4 11 11 19 27 24
EPS in Rs 0.15 0.05 0.15 0.20 0.23 0.17 0.09 0.24 0.24 0.43 0.60 0.53
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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
181 208 228 289 326 367 401 485 595 607 769 853 1,108
180 200 223 270 295 318 352 424 534 542 701 785 1,001
Operating Profit 1 8 6 19 31 49 48 62 61 65 68 69 107
OPM % 1% 4% 3% 7% 10% 13% 12% 13% 10% 11% 9% 8% 10%
Other Income 12 38 1 13 6 4 1 -3 4 4 4 9 10
Interest 3 4 6 8 12 10 9 10 8 4 2 2 2
Depreciation 52 48 48 48 46 46 39 35 34 34 40 37 32
Profit before tax -41 -6 -48 -24 -21 -3 2 13 24 30 29 39 82
Tax % -2% -0% 1% -0% -0% -0% 6% -1% 0% 0% 1% 14%
Net Profit -42 -6 -47 -24 -21 -3 2 13 24 30 29 34 81
EPS in Rs -1.17 -0.14 -1.04 -0.53 -0.46 -0.06 0.05 0.28 0.53 0.66 0.64 0.75 1.80
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years:15%
5 Years:16%
3 Years:13%
TTM:28%
Compounded Profit Growth
10 Years:22%
5 Years:73%
3 Years:12%
TTM:146%
Stock Price CAGR
10 Years:17%
5 Years:1%
3 Years:-6%
1 Year:138%
Return on Equity
10 Years:1%
5 Years:11%
3 Years:13%
Last Year:13%

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
191 210 210 210 210 210 210 210 90 90 90 90 90
Reserves 99 181 134 111 90 88 78 91 106 136 163 194 241
Borrowings 280 140 133 121 111 89 81 68 169 134 132 133 16
203 204 224 225 215 223 240 276 173 226 230 246 440
Total Liabilities 653 616 581 547 506 490 489 524 538 586 615 663 787
583 540 496 452 409 368 322 297 272 264 236 216 206
CWIP 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 4 4 4 4 4 0 0 0 0 0 0 1 1
66 71 81 91 93 121 167 227 266 321 379 446 579
Total Assets 653 616 581 547 506 490 489 524 538 586 615 663 787

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
-3 7 11 27 34 34 51 50 41 63 17 11
-1 -4 -4 -3 -3 -1 -32 -27 -14 -27 -13 -12
-6 -6 -6 -22 -30 -29 -19 -27 -24 -38 -0 5
Net Cash Flow -11 -3 1 2 1 4 -0 -4 3 -1 4 4

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 % -6% -0% -8% -6% -3% 1% 3% 7% 9% 9% 8% 10%
Debtor Days 43 42 47 44 44 42 51 66 57 73 64 59
Inventory Turnover 5.86 4.93 4.70 5.27 5.50 6.36 7.18 7.76 7.04 5.36 5.96 4.90

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
34.54 34.54 34.54 34.54 34.54 34.54 34.54 34.54 34.54 34.54 34.54 34.54
0.44 0.71 0.88 0.88 0.78 0.77 0.77 0.74 0.74 0.82 0.82 0.76
13.88 13.91 13.79 13.86 13.82 13.96 13.90 14.00 13.81 13.88 4.85 4.24
51.14 50.84 50.79 50.72 50.86 50.73 50.79 50.72 50.91 50.76 59.79 60.46

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