Neuland Laboratories Ltd

Neuland is primarily an API manufacturer with a large bouquet of products that find acceptance with over 500+ generics and innovator companies largely in regulated markets (Europe, North America and Japan). Apart from APIs, the company focused on the custom manufacturing services (CMS) segment. This R&D focused business vertical partners with global innovator companies for developing intermediates and APIs for their novel molecules. In addition, it also includes manufacturing APIs for commercial molecules in line with customer specifications.(Source : 201903 Annual Report Page No: 18)

  • Market Cap: 1,332 Cr.
  • Current Price: 1,038
  • 52 weeks High / Low 1202.90 / 245.75
  • Book Value: 549.92
  • Stock P/E: 52.60
  • Dividend Yield: 0.19 %
  • ROCE: 7.79 %
  • ROE: 2.25 %
  • Sales Growth (3Yrs): 9.63 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 10.00
Edit ratios
Pros:
Cons:
The company has delivered a poor growth of 10.21% over past five years.
Company has a low return on equity of 2.34% for last 3 years.
Dividend payout has been low at 5.42% of profits over last 3 years
Promoter holding has decreased over last 3 years: -15.41%

Peer comparison Sector: Pharmaceuticals // Industry: Pharmaceuticals - Indian - Bulk Drugs

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
130 122 160 154 169 171 173 181 186 204 192 205
116 113 141 145 154 156 154 162 161 176 162 172
Operating Profit 14 9 19 9 15 16 18 19 25 28 30 34
OPM % 11% 8% 12% 6% 9% 9% 11% 10% 13% 14% 16% 16%
Other Income 0 1 0 1 1 0 1 1 1 1 2 1
Interest 5 5 5 4 4 3 5 4 5 6 7 5
Depreciation 6 6 6 6 6 7 7 8 8 8 8 9
Profit before tax 4 0 9 1 5 6 8 8 12 16 17 20
Tax % 38% -306% 6% 25% 17% 22% 17% 25% 30% 29% 155% 25%
Net Profit 2 1 8 0 4 5 7 6 9 11 -9 15
EPS in Rs 2.15 0.66 7.22 0.35 3.43 3.59 5.25 4.38 6.68 8.61 -7.29 11.74
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

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
307 278 397 448 461 466 469 510 579 527 667 763 787
281 255 349 402 402 395 402 430 473 477 609 661 671
Operating Profit 26 24 48 47 58 70 67 80 106 50 58 101 117
OPM % 8% 9% 12% 10% 13% 15% 14% 16% 18% 10% 9% 13% 15%
Other Income 11 5 2 2 3 3 0 2 1 4 3 4 4
Interest 14 26 30 33 31 25 27 24 21 19 16 22 23
Depreciation 7 14 15 15 15 15 15 16 19 22 26 31 33
Profit before tax 14 -10 5 0 16 34 24 41 67 14 20 52 65
Tax % 18% 29% -8% -1,028% 12% 22% 36% 36% 30% 13% 19% 70%
Net Profit 12 -7 5 2 14 27 16 26 46 12 16 16 25
EPS in Rs 12.72 0.00 5.62 3.19 15.02 29.27 17.33 29.10 51.80 13.19 12.51 12.31 19.74
Dividend Payout % 16% 0% 0% 0% 7% 9% 9% 7% 0% 0% 0% 16%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:10.60%
5 Years:10.21%
3 Years:9.63%
TTM:13.44%
Compounded Profit Growth
10 Years:15.54%
5 Years:-0.30%
3 Years:-30.26%
TTM:18.65%
Stock Price CAGR
10 Years:28.41%
5 Years:6.73%
3 Years:1.59%
1 Year:111.59%
Return on Equity
10 Years:6.21%
5 Years:4.84%
3 Years:2.34%
Last Year:2.25%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Corp Actions
Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
5 5 5 5 8 8 9 9 9 9 13 13
Reserves 70 63 68 70 91 115 151 175 534 546 683 693
Borrowings 200 233 234 220 210 190 188 182 192 319 231 260
98 96 120 130 116 171 164 157 150 197 203 265
Total Liabilities 373 398 427 425 425 483 511 523 885 1,071 1,130 1,230
147 163 158 151 136 131 123 139 466 475 541 653
CWIP 37 30 27 27 36 35 41 40 20 126 104 24
Investments 7 8 8 8 8 8 8 8 8 8 8 8
182 197 234 239 246 310 339 337 392 462 476 545
Total Assets 373 398 427 425 425 483 511 523 885 1,071 1,130 1,230

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
22 15 32 49 26 49 13 45 39 12 70 57
-74 -23 -8 -5 -7 -10 -14 -20 -42 -116 -77 -49
54 10 -24 -44 -20 -39 1 -24 -0 105 12 -5
Net Cash Flow 1 2 -0 0 -1 0 0 1 -3 0 4 2

Ratios Standalone Figures in Rs. Crores / View Consolidated

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 % 12% 5% 11% 11% 15% 19% 16% 18% 16% 4% 4% 8%
Debtor Days 85 95 92 79 78 93 100 85 114 134 90 91
Inventory Turnover 3.21 2.45 3.50 3.51 3.14 2.85 2.58 2.30 2.21 1.70 2.15 2.02

Shareholding pattern in percentages

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
51.68 51.68 51.68 36.04 36.04 36.04 35.90 35.90 35.86 35.86 36.20 36.27
7.45 6.09 6.41 27.31 27.30 27.31 27.36 29.35 27.82 27.17 26.97 20.79
6.86 6.24 6.29 7.85 11.23 10.33 10.47 8.43 7.32 6.55 6.87 8.81
34.01 35.99 35.62 28.80 25.43 26.31 26.27 26.32 28.99 30.42 29.96 34.12