Panacea Biotec Ltd

₹ 142 2.79%

24 Apr - close price

panaceabiotec.com BSE: 531349 NSE : PANACEABIO

About

Panacea Biotec was set up in the year 1984, under the name of Panacea Drugs Private Limited and was publicly listed in the year 1995. Panacea Biotec is a research based Biotechnology company doing Research and Development, Manufacturing, Sales, Distribution and Marketing of Pharmaceuticals, Vaccines and Biosimilars.

Key Points

Business Highlights^[1]
a. Being WHO-prequalified, the Company is one of the leading supplier of vaccines to Government of India, UNICEF & PAHO^ since more than two decades.
b. One of the leading domestic pharmaceutical formulations player with brands in super specialty and chronic care segments - Organ Transplantation, Oncology and Diabetes
c. 3 ANDAs approved by USFDA, 6 ANDAs submitted and awaiting approval from USFDA
d. 34 Active Patents globally and 21 Patent applications under process
e. Total 74 Brands of which 70 are for Pharma and 4 for Vaccines
f. 11 brands in domestic markets of which Pharma – 10; Vaccine – 1

Website BSE NSE

Market Cap ₹ 868 Cr.
Current Price ₹ 142
High / Low ₹ 202 / 114
Stock P/E
Book Value ₹ 138
Dividend Yield 0.00 %
ROCE -10.3 %
ROE -10.9 %
Face Value ₹ 1.00

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Pros

Company has reduced debt.
Company is almost debt free.
Stock is trading at 1.03 times its book value

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of -4.95% over past five years.
Contingent liabilities of Rs.640 Cr.
Earnings include an other income of Rs.82.7 Cr.
Company's cost of borrowing seems high

* 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

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
	141.76	168.27	132.45	232.17	155.88	140.73	110.70	105.12	115.20	128.93	129.19	143.02	150.50
	126.66	167.33	134.00	226.15	144.02	170.92	190.51	108.96	123.84	134.60	139.50	146.58	150.65
Operating Profit	15.10	0.94	-1.55	6.02	11.86	-30.19	-79.81	-3.84	-8.64	-5.67	-10.31	-3.56	-0.15
OPM %	10.65%	0.56%	-1.17%	2.59%	7.61%	-21.45%	-72.10%	-3.65%	-7.50%	-4.40%	-7.98%	-2.49%	-0.10%
	1.89	4.90	3.23	2.03	1.66	1,680.26	39.95	38.22	41.71	34.44	33.82	6.00	8.46
Interest	45.69	46.91	47.89	50.16	52.13	30.66	1.25	1.18	0.96	1.05	1.00	0.91	0.85
Depreciation	11.31	11.58	11.06	10.90	10.55	11.15	10.05	9.89	9.67	9.51	9.48	9.31	9.11
Profit before tax	-40.01	-52.65	-57.27	-53.01	-49.16	1,608.26	-51.16	23.31	22.44	18.21	13.03	-7.78	-1.65
Tax %	-0.10%	-2.83%	-0.14%	0.00%	-0.08%	23.06%	-9.73%	32.65%	13.68%	169.63%	15.73%	-6.56%	-33.33%
	-40.05	-54.14	-57.35	-53.01	-49.20	1,237.47	-56.14	15.70	19.37	-12.68	10.98	-8.29	-2.20
EPS in Rs	-6.54	-8.83	-9.36	-8.65	-8.03	201.86	-9.16	2.56	3.16	-2.07	1.79	-1.35	-0.36
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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
	710	608	510	687	653	544	593	457	544	625	661	460	552
	773	665	582	643	541	505	509	591	490	548	674	558	571
Operating Profit	-63	-56	-72	44	112	39	84	-134	54	77	-13	-98	-20
OPM %	-9%	-9%	-14%	6%	17%	7%	14%	-29%	10%	12%	-2%	-21%	-4%
	-15	-7	183	28	70	62	8	338	-14	9	1,687	154	83
Interest	101	104	150	105	127	101	101	105	174	185	181	4	4
Depreciation	77	86	71	67	73	68	57	54	43	46	44	39	37
Profit before tax	-255	-253	-111	-99	-19	-67	-66	45	-178	-146	1,449	13	22
Tax %	21%	7%	-2%	-3%	-10%	16%	-15%	17%	-9%	-1%	26%	363%
	-206	-234	-113	-108	-21	-56	-76	38	-194	-148	1,078	-34	-12
EPS in Rs	-33.55	-38.22	-18.29	-17.38	-2.98	-8.89	-12.07	6.15	-31.69	-24.09	175.91	-5.42	-1.99
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-3%
5 Years:	-5%
3 Years:	-5%
TTM:	17%

Compounded Profit Growth
10 Years:	5%
5 Years:	-6%
3 Years:	12%
TTM:	76%

Stock Price CAGR
10 Years:	-1%
5 Years:	-5%
3 Years:	-26%
1 Year:	18%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	-11%

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	6	6	6	6	6	6	6	6	6	6	6	6	6
Reserves	869	620	507	449	426	350	303	344	161	-235	871	837	841
Preference Capital	0	0	0	16	16	0	0	0	0	0	0	0
	877	979	1,060	1,095	1,088	994	941	646	742	820	34	20	21
	198	235	371	381	334	440	349	379	481	587	848	407	404
Total Liabilities	1,950	1,839	1,943	1,930	1,854	1,789	1,598	1,376	1,390	1,178	1,759	1,271	1,272
	1,195	1,154	1,276	1,144	1,071	1,001	949	806	657	609	622	600	624
CWIP	91	135	172	155	161	30	40	23	24	34	17	42	52
Investments	33	22	16	15	9	7	7	5	6	0	5	13	34
	631	527	479	616	614	750	602	542	703	534	1,114	615	562
Total Assets	1,950	1,839	1,943	1,930	1,854	1,789	1,598	1,376	1,390	1,178	1,759	1,271	1,272

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
	228	-24	54	37	91	131	118	105	-30	107	-108	-422
	-124	-61	-38	-37	16	-26	55	-6	-35	-48	1,283	430
	-134	105	-30	-1	-117	-107	-164	-101	91	-47	-1,176	-18
Net Cash Flow	-29	20	-14	-1	-10	-2	9	-2	26	12	-2	-10

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	35	42	68	52	79	95	84	71	46	49	45	48
Inventory Days	405	371	375	404	516	770	651	173	344	311	296	292
Days Payable	128	243	430	272	318	607	540	572	463	440	327	256
Cash Conversion Cycle	311	170	13	184	278	259	195	-328	-73	-80	14	83
Working Capital Days	112	92	-113	31	134	82	6	-307	97	6	-229	-7
ROCE %	-8%	-8%	-8%	0%	4%	2%	3%	-16%	4%	6%	-6%	-10%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	73.59%	73.59%	73.59%	73.59%	73.59%	73.59%	73.59%	73.59%	73.59%	73.59%	73.59%	73.59%
	0.03%	0.02%	0.00%	0.00%	0.00%	0.14%	0.18%	0.18%	0.22%	0.26%	0.26%	0.27%
	0.42%	0.40%	0.13%	0.00%	0.00%	0.29%	0.43%	0.43%	0.54%	0.57%	0.69%	0.84%
	25.95%	25.99%	26.28%	26.41%	26.41%	25.98%	25.81%	25.80%	25.66%	25.58%	25.46%	25.30%
No. of Shareholders	54,313	52,816	52,465	49,563	49,896	49,078	50,533	48,634	47,815	48,878	47,091	46,242

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	74.60%	74.07%	73.59%	73.59%	73.59%	73.59%	73.59%	73.59%
	0.00%	0.00%	0.23%	0.00%	0.10%	0.00%	0.18%	0.27%
	0.04%	0.12%	1.23%	1.61%	1.27%	0.00%	0.43%	0.84%
	25.36%	25.81%	24.95%	24.79%	25.04%	26.41%	25.80%	25.30%
No. of Shareholders	9,888	10,246	10,642	10,582	27,228	49,563	48,634	46,242

* 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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Panacea Biotec Ltd

Panacea Biotec Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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