Natco Pharma Ltd

Natco Pharma Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Natco Pharma Ltd

₹ 1,028 0.66%
26 Apr - close price
natcopharma.co.in BSE: 524816 NSE : NATCOPHARM
About

NATCO Pharma Limited (NATCO) is a vertically integrated, research and development focused pharmaceutical company engaged in developing, manufacturing, and marketing complex products for niche therapeutic areas. [1]
NATCO has established its presence in all three business segments viz. finished dosage formulations (“FDF”), active pharmaceutical ingredients (“APIs”), Contract Manufacturing Business.[2]

Key Points

Exports of formulations - Complex Generics [1]
The company is focused on niche opportunities in the US.
Focus on Para IV and First-to-File molecules
Started winning tenders in Asian markets including Malaysia and Thailand

Company is focused on high-barrier-to-entry products that are typically characterized by one or more of the following: Intricate Chemistry, Challenging delivery systems, Difficult or complex manufacturing process

Website BSE NSE
  • Market Cap ₹ 18,411 Cr.
  • Current Price ₹ 1,028
  • High / Low ₹ 1,108 / 568
  • Stock P/E 15.2
  • Book Value ₹ 284
  • Dividend Yield 0.92 %
  • ROCE 16.1 %
  • ROE 14.0 %
  • Face Value ₹ 2.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 35.2%

Cons

  • Stock is trading at 3.61 times its book value
  • The company has delivered a poor sales growth of 2.37% over past five years.
  • Company has a low return on equity of 8.06% 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.

Peer comparison

Sector: Pharmaceuticals Industry: Pharmaceuticals - Indian - Bulk Drugs & Formln

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

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
331 312 394 330 530 514 806 351 413 781 1,048 930 625
253 235 280 281 442 552 426 281 346 454 545 488 387
Operating Profit 78 76 114 49 88 -38 379 70 68 328 504 442 238
OPM % 24% 25% 29% 15% 17% -7% 47% 20% 16% 42% 48% 48% 38%
25 29 12 40 32 10 33 16 19 18 15 25 30
Interest 3 2 2 3 4 4 3 2 3 1 3 3 4
Depreciation 29 30 33 34 36 36 37 38 38 38 40 40 40
Profit before tax 71 73 91 52 80 -67 373 46 45 306 475 424 224
Tax % 23% 22% 17% -2% 10% 9% 17% 19% 17% 17% 15% 15% 14%
55 57 75 54 72 -61 308 38 37 254 405 360 192
EPS in Rs 3.00 3.14 4.12 2.94 3.93 -3.36 16.87 2.07 2.04 13.92 22.63 20.11 10.72
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

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
436 558 622 716 1,059 1,958 2,091 1,986 1,790 1,654 1,768 2,351 3,385
324 401 436 487 778 1,266 1,163 1,170 1,212 1,236 1,555 1,506 1,873
Operating Profit 111 157 187 229 281 692 928 816 578 418 213 845 1,512
OPM % 26% 28% 30% 32% 26% 35% 44% 41% 32% 25% 12% 36% 45%
10 0 16 -2 13 13 39 130 124 101 95 86 86
Interest 23 25 34 30 22 18 15 19 21 11 13 9 11
Depreciation 15 20 27 42 50 54 66 80 98 115 138 151 158
Profit before tax 83 112 141 154 222 634 888 847 583 392 156 771 1,429
Tax % 25% 30% 22% 1% 20% 22% 21% 21% 19% 21% 11% 17%
62 78 110 153 176 495 698 667 474 310 139 637 1,212
EPS in Rs 3.99 4.98 6.66 9.20 10.13 28.39 37.84 36.48 26.06 16.97 7.62 34.90 67.38
Dividend Payout % 15% 16% 15% 11% 12% 24% 22% 17% 26% 31% 59% 16%
Compounded Sales Growth
10 Years: 15%
5 Years: 2%
3 Years: 10%
TTM: 62%
Compounded Profit Growth
10 Years: 22%
5 Years: -2%
3 Years: 10%
TTM: 277%
Stock Price CAGR
10 Years: 20%
5 Years: 14%
3 Years: 4%
1 Year: 80%
Return on Equity
10 Years: 14%
5 Years: 11%
3 Years: 8%
Last Year: 14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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 31 31 33 33 35 35 37 36 36 36 36 36 36
Reserves 436 506 700 846 1,302 1,665 3,088 3,527 3,833 4,055 4,155 4,666 5,059
259 336 237 309 110 221 173 384 314 256 400 161 242
163 184 206 207 396 427 438 408 463 405 387 525 556
Total Liabilities 889 1,057 1,176 1,395 1,843 2,347 3,736 4,356 4,647 4,752 4,978 5,388 5,893
302 471 529 573 706 829 1,015 1,215 1,574 2,006 2,174 2,234 2,257
CWIP 164 78 93 101 212 336 480 638 518 223 129 63 83
Investments 75 78 89 131 94 95 150 244 191 337 550 658 616
348 431 465 590 831 1,087 2,091 2,259 2,363 2,186 2,125 2,434 2,937
Total Assets 889 1,057 1,176 1,395 1,843 2,347 3,736 4,356 4,647 4,752 4,978 5,388 5,893

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
68 70 172 125 190 330 476 699 422 184 58 784
-129 -123 -131 -148 -248 -291 -1,131 -645 -165 -3 -92 -437
62 29 -41 23 151 -46 652 -52 -261 -183 36 -347
Net Cash Flow 1 -24 0 -1 93 -6 -3 1 -4 -3 1 1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 78 83 68 96 88 87 106 90 109 88 119 123
Inventory Days 264 284 392 424 501 215 400 547 482 562 476 424
Days Payable 228 213 240 247 385 160 231 217 215 102 96 126
Cash Conversion Cycle 115 153 220 274 205 142 275 420 376 548 499 422
Working Capital Days 58 75 78 106 119 114 252 285 374 353 348 238
ROCE % 16% 18% 19% 18% 18% 39% 34% 24% 14% 9% 3% 16%

Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
48.87% 48.87% 48.86% 48.81% 48.80% 48.80% 48.82% 48.84% 49.76% 49.71% 49.71% 49.71%
13.73% 12.53% 12.26% 11.94% 11.65% 11.67% 11.73% 11.91% 11.03% 12.82% 13.72% 16.14%
16.21% 17.78% 18.08% 16.15% 15.30% 14.30% 14.93% 15.38% 15.15% 14.01% 11.26% 9.69%
21.19% 20.82% 20.80% 23.10% 24.25% 25.23% 24.53% 23.87% 24.08% 23.48% 25.32% 24.46%
No. of Shareholders 87,66788,43988,42185,82892,4491,21,3361,35,3971,53,6631,55,1811,63,7532,07,5712,28,467

* 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.

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