Torrent Pharmaceuticals Ltd

Torrent Pharmaceuticals is engaged in one of the leading Indian Pharmaceutical Company engaged in research, development, manufacturing and marketing of generic pharmaceutical formulations.

Pros:
Company has been maintaining a healthy dividend payout of 38.50%
Cons:
Stock is trading at 5.54 times its book value
The company has delivered a poor growth of 11.40% over past five years.

Peer Comparison Sector: Pharmaceuticals // Industry: Pharmaceuticals - Indian - Bulk Drugs & Formln

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
1,058 1,249 962 847 1,025 1,040 1,332 1,452 1,472 1,481 1,357 1,603
814 943 852 726 789 781 1,040 1,040 1,016 1,030 1,063 1,091
Operating Profit 244 306 110 121 236 259 292 412 456 451 294 512
OPM % 23% 24% 11% 14% 23% 25% 22% 28% 31% 30% 22% 32%
Other Income 59 71 120 109 91 81 51 34 108 13 227 31
Interest 51 46 57 55 51 71 117 117 120 125 119 117
Depreciation 64 68 76 74 78 89 143 141 144 147 147 149
Profit before tax 188 263 97 101 198 180 83 188 300 192 255 277
Tax % 10% 11% -18% 17% 20% 89% -165% 35% 8% 5% 36% 19%
Net Profit 169 234 114 84 158 20 220 122 277 182 164 223
EPS in Rs 9.96 13.78 6.79 4.97 9.31 1.25 12.95 7.21 16.38 10.73 9.73 13.18
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
984 1,165 1,419 1,750 2,071 2,760 3,358 3,468 5,439 4,551 4,244 5,762 5,913
783 936 1,040 1,354 1,680 2,084 2,298 2,624 2,991 3,424 3,337 4,149 4,200
Operating Profit 201 229 379 396 391 676 1,061 843 2,448 1,127 907 1,613 1,713
OPM % 20% 20% 27% 23% 19% 24% 32% 24% 45% 25% 21% 28% 29%
Other Income 19 38 18 59 84 98 36 306 293 300 332 382 379
Interest 21 38 29 39 40 37 58 173 180 202 294 481 481
Depreciation 33 37 54 58 64 72 79 180 213 269 384 579 587
Profit before tax 166 191 314 358 371 665 958 796 2,348 955 562 935 1,024
Tax % 6% 2% 34% 19% 16% 18% 20% 22% 26% 11% 14% 20%
Net Profit 156 187 207 291 311 546 762 623 1,743 854 482 745 846
EPS in Rs 8.89 10.70 11.76 16.54 17.70 30.36 43.35 34.57 94.59 50.47 28.48 44.05 50.02
Dividend Payout % 19% 18% 24% 23% 23% 36% 22% 31% 34% 28% 49% 39%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:17.33%
5 Years:11.40%
3 Years:1.94%
TTM:21.94%
Compounded Profit Growth
10 Years:14.10%
5 Years:-1.16%
3 Years:-25.16%
TTM:62.69%
Stock Price CAGR
10 Years:25.62%
5 Years:14.94%
3 Years:0.21%
1 Year:5.20%
Return on Equity
10 Years:25.36%
5 Years:22.38%
3 Years:14.60%
Last Year:14.93%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
42 42 42 42 42 42 85 85 85 85 85 85
Reserves 543 690 839 1,051 1,262 1,609 2,205 2,621 3,623 4,369 4,472 4,931
Borrowings 342 482 522 572 579 693 1,132 2,521 2,249 2,446 5,845 5,623
316 411 458 571 709 1,032 938 1,302 1,450 1,152 1,419 1,389
Total Liabilities 1,243 1,625 1,861 2,236 2,592 3,376 4,360 6,529 7,406 8,051 11,820 12,027
448 487 526 588 636 791 836 2,764 2,681 3,523 7,429 7,425
CWIP 79 46 105 44 27 276 508 628 984 473 447 498
Investments 158 245 231 431 478 190 322 434 918 936 625 486
559 848 998 1,173 1,451 2,118 2,694 2,704 2,823 3,119 3,319 3,618
Total Assets 1,243 1,625 1,861 2,236 2,592 3,376 4,360 6,529 7,406 8,051 11,820 12,027

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
227 202 307 233 396 -69 310 1,065 2,403 676 929 1,232
-139 -31 -137 -242 -142 -89 -326 -2,099 -584 -527 -4,207 -373
35 0 -4 -69 -192 25 86 996 -1,326 -130 2,929 -928
Net Cash Flow 123 171 165 -78 62 -133 70 -38 493 19 -349 -69

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 22% 22% 28% 25% 26% 35% 35% 22% 44% 17% 9% 13%
Debtor Days 74 75 67 71 72 110 143 124 61 82 95 86
Inventory Turnover 5.58 6.50 6.76 6.13 5.63 5.06 4.83 4.70 6.21 4.55 3.64 4.34