Natco Pharma Ltd
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]
- Market Cap ₹ 9,191 Cr.
- Current Price ₹ 503
- High / Low ₹ 939 / 503
- Stock P/E 22.6
- Book Value ₹ 250
- Dividend Yield 0.87 %
- ROCE 3.91 %
- ROE 3.28 %
- Face Value ₹ 2.00
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 32.2%
Cons
- The company has delivered a poor sales growth of -0.76% over past five years.
- Company has a low return on equity of 8.50% 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
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
460 | 524 | 661 | 739 | 825 | 1,042 | 2,020 | 2,185 | 2,094 | 1,915 | 2,052 | 1,945 | 2,474 | |
364 | 414 | 511 | 560 | 615 | 777 | 1,337 | 1,256 | 1,300 | 1,332 | 1,446 | 1,681 | 1,900 | |
Operating Profit | 96 | 109 | 150 | 179 | 210 | 266 | 683 | 928 | 795 | 583 | 606 | 264 | 574 |
OPM % | 21% | 21% | 23% | 24% | 25% | 25% | 34% | 42% | 38% | 30% | 30% | 14% | 23% |
-1 | 9 | 1 | 17 | 0 | 12 | 14 | 40 | 130 | 107 | 104 | 99 | 99 | |
Interest | 14 | 23 | 26 | 37 | 32 | 23 | 18 | 15 | 19 | 22 | 13 | 18 | 20 |
Depreciation | 16 | 16 | 22 | 30 | 47 | 51 | 54 | 66 | 81 | 100 | 117 | 143 | 155 |
Profit before tax | 65 | 80 | 102 | 129 | 132 | 204 | 624 | 887 | 825 | 569 | 580 | 202 | 498 |
Tax % | 20% | 26% | 36% | 24% | 1% | 24% | 22% | 22% | 22% | 19% | 24% | 16% | |
Net Profit | 52 | 58 | 66 | 98 | 130 | 156 | 485 | 695 | 642 | 458 | 442 | 170 | 407 |
EPS in Rs | 3.80 | 3.83 | 4.58 | 6.21 | 8.10 | 9.02 | 27.88 | 37.74 | 35.24 | 25.31 | 24.18 | 9.31 | 22.30 |
Dividend Payout % | 11% | 16% | 17% | 16% | 12% | 14% | 24% | 22% | 18% | 27% | 22% | 48% |
Compounded Sales Growth | |
---|---|
10 Years: | 14% |
5 Years: | -1% |
3 Years: | -2% |
TTM: | 68% |
Compounded Profit Growth | |
---|---|
10 Years: | 9% |
5 Years: | -22% |
3 Years: | -40% |
TTM: | 59% |
Stock Price CAGR | |
---|---|
10 Years: | 19% |
5 Years: | -11% |
3 Years: | -5% |
1 Year: | -42% |
Return on Equity | |
---|---|
10 Years: | 15% |
5 Years: | 13% |
3 Years: | 9% |
Last Year: | 3% |
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 | Sep 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
28 | 31 | 31 | 33 | 33 | 35 | 35 | 37 | 36 | 36 | 36 | 36 | 36 | |
Reserves | 324 | 442 | 502 | 693 | 813 | 1,261 | 1,614 | 3,035 | 3,452 | 3,737 | 4,085 | 4,227 | 4,535 |
220 | 259 | 338 | 240 | 312 | 113 | 222 | 173 | 386 | 316 | 268 | 416 | 86 | |
135 | 173 | 209 | 229 | 226 | 413 | 446 | 470 | 428 | 498 | 403 | 430 | 421 | |
Total Liabilities | 707 | 905 | 1,080 | 1,196 | 1,384 | 1,822 | 2,318 | 3,715 | 4,303 | 4,588 | 4,792 | 5,109 | 5,078 |
270 | 320 | 583 | 645 | 710 | 710 | 833 | 1,019 | 1,227 | 1,584 | 2,023 | 2,312 | 2,379 | |
CWIP | 76 | 164 | 106 | 124 | 129 | 212 | 336 | 480 | 638 | 518 | 223 | 130 | 144 |
Investments | 63 | 63 | 2 | 2 | 2 | 22 | 32 | 76 | 169 | 112 | 304 | 308 | 378 |
299 | 359 | 389 | 425 | 543 | 878 | 1,116 | 2,140 | 2,270 | 2,373 | 2,242 | 2,360 | 2,177 | |
Total Assets | 707 | 905 | 1,080 | 1,196 | 1,384 | 1,822 | 2,318 | 3,715 | 4,303 | 4,588 | 4,792 | 5,109 | 5,078 |
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
37 | 65 | 61 | 144 | 93 | 112 | 346 | 464 | 669 | 417 | 299 | 46 | |
-89 | -125 | -111 | -108 | -120 | -176 | -299 | -1,116 | -611 | -175 | -107 | 4 | |
77 | 63 | 26 | -35 | 29 | 154 | -48 | 651 | -51 | -251 | -186 | 35 | |
Net Cash Flow | 25 | 3 | -24 | 0 | 2 | 90 | -1 | -2 | 7 | -8 | 6 | 85 |
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 | 56 | 66 | 72 | 59 | 85 | 92 | 86 | 106 | 88 | 105 | 73 | 116 |
Inventory Days | 201 | 198 | 220 | 283 | 331 | 482 | 213 | 389 | 545 | 534 | 570 | 496 |
Days Payable | 150 | 166 | 159 | 172 | 189 | 372 | 160 | 239 | 224 | 244 | 104 | 105 |
Cash Conversion Cycle | 107 | 98 | 132 | 170 | 228 | 202 | 138 | 257 | 410 | 395 | 539 | 507 |
Working Capital Days | 73 | 54 | 67 | 71 | 99 | 131 | 111 | 244 | 275 | 355 | 294 | 335 |
ROCE % | 17% | 16% | 17% | 18% | 17% | 18% | 39% | 35% | 23% | 14% | 13% | 4% |
Documents
Announcements
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 19h
- Board Meeting Intimation for To Consider The Unaudited Financial Results For The Quarter Ended 31St December 2022 And To Consider The Third Interim Dividend, If Any 1d
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 19 Jan
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 11 Jan
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
11 Jan - Compliance certificate under Regulation 74(5) of SEBI (DP) Regulations, 2018 for the quarter ended December 31, 2022
Annual reports
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Financial Year 2010
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Financial Year 2010
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Concalls
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Nov 2022Transcript PPT
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Exports of formulations - Complex Generics (49% of sales)[1]
The company is focused on niche opportunities in the US
In FY22, Completed acquisition of Dash Pharmaceuticals LLC to build a frontend presence in the US [2]
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