RPG Life Sciences Ltd

RPG Life Sciences Ltd

₹ 1,566 0.72%
21 Jun - close price
About

RPG Life Sciences Ltd is engaged in the manufacturing and marketing of Formulations (Finished Dosage Forms) and Active Pharmaceutical Ingredients (APIs) in the domestic and international market.[1]
The company is a part of RPG group which is a diversified conglomerate with interests in areas of infrastructure, tyres, information technology, pharmaceuticals, energy and plantations.[2] The group is headed by Harsh Goenka.[3]

Key Points

Business Segments[1]
Domestic Formulations Segment (~67% of revenues)
The company develops, manufactures, and markets branded formulations in India & Nepal. Its product portfolio includes various products which are sold under its key brands i.e. – Azoran, Aldactone, Lomotil, Naprosyn, Serenace, Norpace, etc. It has a presence in various therapeutic segments such as Cardiologists, Diabetologists, Urologists, Nephrologists, Rheumatologists, Oncologists and others.[2]
New products(FY19 onwards) contributes ~25% on account of new launches in Specialty & Chronic segments and line extensions of legacy products

  • Market Cap 2,590 Cr.
  • Current Price 1,566
  • High / Low 1,740 / 876
  • Stock P/E 29.6
  • Book Value 227
  • Dividend Yield 1.02 %
  • ROCE 34.7 %
  • ROE 25.7 %
  • Face Value 8.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 51.9% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 30.1%

Cons

  • Working capital days have increased from 54.0 days to 81.9 days

* 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.

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Quarterly Results

Figures in Rs. Crores

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
93 108 113 116 104 129 135 131 118 148 154 154 127
80 85 87 91 90 101 105 101 103 116 116 116 106
Operating Profit 13 23 26 24 14 28 30 29 16 32 37 38 21
OPM % 14% 21% 23% 21% 13% 22% 22% 22% 13% 22% 24% 25% 16%
0 0 1 1 1 1 1 1 2 2 2 2 2
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 4 4 4 4 4 4 4 4 4 4 4 4 4
Profit before tax 9 19 22 21 11 25 27 26 14 30 35 36 18
Tax % 23% 30% 30% 29% 31% 28% 26% 26% 25% 26% 26% 26% 25%
7 14 16 15 8 18 20 19 10 22 26 26 13
EPS in Rs 4.18 8.21 9.52 8.85 4.55 11.01 12.07 11.55 6.26 13.36 15.64 16.00 8.01
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
222 236 242 279 294 344 330 376 389 440 513 582
206 224 228 256 274 306 296 315 318 353 408 454
Operating Profit 16 12 14 23 20 38 34 60 71 87 104 128
OPM % 7% 5% 6% 8% 7% 11% 10% 16% 18% 20% 20% 22%
2 66 1 1 18 1 1 -5 1 3 4 7
Interest 7 3 3 2 4 5 5 3 2 1 1 0
Depreciation 10 11 11 10 11 14 15 16 16 16 16 17
Profit before tax 1 65 1 12 23 20 15 36 54 73 92 118
Tax % -717% 18% 0% 0% 10% 34% 28% 20% 25% 30% 26% 26%
4 53 1 12 21 13 11 29 40 51 68 88
EPS in Rs 2.67 32.29 0.60 7.03 12.70 8.13 6.54 17.54 24.19 31.13 40.90 53.00
Dividend Payout % 45% 6% 132% 23% 22% 30% 37% 23% 30% 31% 29% 30%
Compounded Sales Growth
10 Years: 9%
5 Years: 12%
3 Years: 14%
TTM: 14%
Compounded Profit Growth
10 Years: 37%
5 Years: 52%
3 Years: 30%
TTM: 29%
Stock Price CAGR
10 Years: 34%
5 Years: 44%
3 Years: 50%
1 Year: 76%
Return on Equity
10 Years: 17%
5 Years: 23%
3 Years: 24%
Last Year: 26%

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 13 13 13 13 13 13 13 13 13 13 13 13
Reserves 63 113 112 120 134 142 147 163 203 243 294 362
63 15 33 23 45 54 36 12 2 1 0 0
67 56 39 49 55 82 54 78 85 88 112 138
Total Liabilities 206 196 197 205 247 291 251 267 303 345 419 513
103 106 105 109 137 131 128 123 113 104 124 125
CWIP 1 1 1 2 2 9 17 10 12 31 25 85
Investments 0 0 0 0 0 0 0 0 0 0 58 91
102 89 92 94 108 152 106 134 178 210 211 212
Total Assets 206 196 197 205 247 291 251 267 303 345 419 513

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
12 -6 -2 33 7 15 46 50 58 65 91 94
-12 59 -10 -15 -30 -16 -19 -11 -8 -35 -106 -79
-0 -54 12 -18 23 0 -26 -39 -10 -14 -17 -20
Net Cash Flow 0 0 -0 -0 1 -1 0 0 40 17 -32 -5

Ratios

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 81 56 61 48 49 72 43 62 54 27 27 31
Inventory Days 140 180 149 156 163 171 136 133 162 214 203 200
Days Payable 226 176 109 135 102 165 83 127 132 117 138 140
Cash Conversion Cycle -5 60 101 70 110 78 96 68 84 124 91 90
Working Capital Days 46 51 76 54 50 62 53 46 53 47 33 82
ROCE % 6% 2% 2% 9% 10% 13% 10% 23% 27% 31% 33%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
72.07% 72.07% 72.07% 72.07% 72.41% 72.62% 72.62% 72.82% 72.82% 72.82% 72.82% 72.82%
0.00% 0.02% 0.20% 0.12% 0.15% 0.08% 0.25% 0.38% 0.33% 0.46% 0.56% 0.90%
0.01% 0.01% 0.01% 0.01% 0.01% 0.03% 0.01% 0.11% 0.27% 1.57% 1.77% 2.16%
27.92% 27.90% 27.72% 27.80% 27.43% 27.27% 27.11% 26.70% 26.58% 25.15% 24.85% 24.12%
No. of Shareholders 20,56423,67422,76822,82122,11520,75721,36020,83720,22621,08821,86622,137

* 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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