Shilpa Medicare Ltd

SML is presently dealing in high-quality Active Pharmaceutical Ingredients (APIs), Bulk drug, Intermediates, Formulations, New Drug Delivery Systems, Peptides / Biotech products and specialty Chemicals etc. using sophisticated technology meticulously in order to comply with laid down international standards/specifications.

Pros:
Company has reduced debt.
Cons:
Dividend payout has been low at 4.05% of profits over last 3 years

Peer Comparison

Pharmaceuticals >> Pharmaceuticals - Indian - Bulk Drugs
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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Dec 2015 Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018
190 180 158 194 174 207 158 194 173 217 180 156
147 131 122 145 133 148 120 131 140 171 123 107
Operating Profit 43 48 36 49 41 59 38 63 34 46 58 48
OPM % 23% 27% 23% 25% 24% 28% 24% 32% 19% 21% 32% 31%
Other Income 2 3 3 4 3 6 5 6 5 9 4 24
Interest 1 1 1 1 1 1 1 1 0 1 1 0
Depreciation 5 5 6 6 7 7 8 7 8 10 9 9
Profit before tax 39 46 32 46 37 57 35 60 30 45 52 63
Tax % 18% 26% 24% 27% 26% 23% 27% 20% 18% 22% 18% 22%
Net Profit 32 34 24 33 27 44 25 48 24 35 43 49

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

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
68 94 136 234 258 280 328 527 565 676 734 741 726
57 75 109 157 184 223 263 410 429 514 556 562 540
Operating Profit 12 19 27 77 73 56 66 118 136 162 178 179 186
OPM % 17% 20% 20% 33% 28% 20% 20% 22% 24% 24% 24% 24% 26%
Other Income 2 3 1 5 5 8 5 9 5 11 20 23 41
Interest 0 1 5 5 2 2 2 3 4 3 3 2 2
Depreciation 2 4 6 10 10 11 13 21 19 21 27 33 36
Profit before tax 11 16 16 67 66 51 56 102 119 149 169 167 189
Tax % 31% 33% 54% 32% 23% 22% 17% 21% 29% 24% 24% 20%
Net Profit 8 11 8 46 51 40 46 81 84 113 127 133 151
EPS in Rs 1.49 2.08 1.12 6.95 7.03 5.36 6.18 10.90 10.91 14.64 15.91 16.34
Dividend Payout % 9% 6% 15% 3% 4% 6% 7% 5% 5% 4% 4% 4%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:22.96%
5 Years:17.70%
3 Years:9.45%
TTM:-0.96%
Compounded Profit Growth
10 Years:27.40%
5 Years:21.79%
3 Years:13.78%
TTM:3.99%
Return on Equity
10 Years:16.51%
5 Years:15.25%
3 Years:14.01%
TTM:11.32%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Sep 2018
4 4 4 4 5 5 5 7 8 8 8 8 8
Reserves 41 51 63 108 226 282 326 405 555 657 1,022 1,149 1,242
Borrowings 8 76 97 69 50 55 98 80 87 86 237 186 104
18 24 36 74 50 80 78 134 134 180 226 239 213
Total Liabilities 71 154 201 255 331 422 507 627 784 931 1,493 1,582 1,567
32 67 124 128 127 141 153 258 280 350 449 489 582
CWIP 4 16 3 3 1 55 114 49 88 89 137 201 159
Investments 0 0 0 4 28 101 87 75 140 154 326 231 169
36 71 74 120 174 125 153 245 277 338 581 661 657
Total Assets 71 154 201 255 331 422 507 627 784 931 1,493 1,582 1,567

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
12 -10 30 46 -14 50 36 59 67 120 50 54
-15 -50 -50 -17 -33 -145 -63 -38 -139 -101 -275 -12
3 66 10 -31 47 13 36 -31 74 -15 315 -62
Net Cash Flow -0 6 -10 -2 1 -82 9 -10 2 4 91 -20

Ratios Standalone / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 26% 19% 15% 42% 29% 17% 15% 22% 21% 21% 16% 12%
Debtor Days 27 51 51 49 48 43 35 42 45 60 83 107
Inventory Turnover 4 5 6 7 6 6 5 6 5 6 5 4