Torrent Pharmaceuticals Ltd

Torrent Pharmaceuticals Ltd

₹ 2,882 0.25%
14 Jun - close price
About

Torrent Pharmaceuticals Ltd is one of the leading Indian Pharmaceutical Company engaged in research, development, manufacturing and marketing of generic pharmaceutical formulations.[1]

It is the flagship company of Torrent Group which also has presence in power and city gas distribution businesses.[2]

Key Points

Product Offerings
The company manufactures pharmaceutical products under various dosage forms such as oral solids, oral liquids, topicals, suppositories, Human insulin and synthetic APIs. API manufacturing is predominantly aimed at captive consumption.[1]

  • Market Cap 97,539 Cr.
  • Current Price 2,882
  • High / Low 2,920 / 1,771
  • Stock P/E 61.2
  • Book Value 203
  • Dividend Yield 0.97 %
  • ROCE 23.3 %
  • ROE 24.4 %
  • Face Value 5.00

Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 73.8%
  • Company's working capital requirements have reduced from 73.6 days to 57.7 days

Cons

  • Stock is trading at 14.2 times its book value
  • The company has delivered a poor sales growth of 6.93% over past five years.
  • Company might be capitalizing the interest cost

* 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

Consolidated Figures in Rs. Crores / View Standalone

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
1,937 2,134 2,137 2,108 2,131 2,347 2,291 2,491 2,491 2,591 2,660 2,732 2,745
1,355 1,457 1,477 1,570 1,570 1,635 1,612 1,767 1,764 1,800 1,835 1,863 1,862
Operating Profit 582 677 660 538 561 712 679 724 727 791 825 869 883
OPM % 30% 32% 31% 26% 26% 30% 30% 29% 29% 31% 31% 32% 32%
39 40 51 48 -429 30 16 -10 9 34 26 55 31
Interest 73 68 71 62 57 55 69 102 107 103 91 80 80
Depreciation 165 165 168 167 162 155 163 193 196 191 201 213 203
Profit before tax 383 484 472 357 -87 532 463 419 433 531 559 631 631
Tax % 15% 32% 33% 30% -36% 33% 33% 30% 34% 29% 31% 30% 29%
324 330 316 249 -118 354 312 292 287 378 386 443 449
EPS in Rs 9.57 9.75 9.34 7.36 -3.49 10.46 9.22 8.63 8.48 11.17 11.41 13.09 13.27
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
3,203 4,172 4,636 6,687 5,816 5,950 7,673 7,939 8,005 8,508 9,620 10,728
2,506 3,216 3,616 3,954 4,438 4,601 5,690 5,769 5,524 6,077 6,778 7,360
Operating Profit 697 955 1,020 2,733 1,377 1,349 1,983 2,170 2,480 2,431 2,842 3,368
OPM % 22% 23% 22% 41% 24% 23% 26% 27% 31% 29% 30% 31%
1 34 286 32 223 299 -300 121 57 -288 45 146
Interest 34 59 175 184 206 308 504 451 353 255 333 354
Depreciation 83 87 191 238 307 409 618 654 658 662 707 808
Profit before tax 582 844 940 2,343 1,088 931 562 1,187 1,526 1,226 1,847 2,352
Tax % 25% 21% 20% 26% 14% 27% 22% 14% 18% 37% 33% 30%
435 664 751 1,733 934 678 436 1,025 1,252 777 1,245 1,656
EPS in Rs 12.79 19.62 22.19 51.22 27.59 20.04 12.89 30.28 36.99 22.97 36.79 48.93
Dividend Payout % 45% 25% 25% 34% 25% 35% 66% 53% 47% 105% 60% 57%
Compounded Sales Growth
10 Years: 10%
5 Years: 7%
3 Years: 10%
TTM: 12%
Compounded Profit Growth
10 Years: 9%
5 Years: 22%
3 Years: 9%
TTM: 31%
Stock Price CAGR
10 Years: 24%
5 Years: 31%
3 Years: 26%
1 Year: 55%
Return on Equity
10 Years: 23%
5 Years: 21%
3 Years: 21%
Last Year: 24%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 42 85 85 85 85 85 85 85 85 85 169 169
Reserves 1,380 1,818 2,406 3,409 4,266 4,538 4,640 4,739 5,753 5,868 6,029 6,687
693 1,132 2,740 2,352 2,510 6,462 6,038 5,784 4,874 4,070 5,369 4,018
1,638 1,988 2,589 3,040 2,740 3,159 3,351 3,402 3,363 2,884 3,043 4,187
Total Liabilities 3,753 5,022 7,820 8,886 9,601 14,243 14,113 14,010 14,075 12,906 14,610 15,061
820 875 2,833 2,859 3,688 7,855 7,748 7,533 7,065 6,423 8,121 8,218
CWIP 285 534 678 1,042 519 647 617 712 889 630 765 281
Investments 60 186 298 780 804 492 353 2 181 226 199 173
2,587 3,427 4,011 4,206 4,589 5,249 5,395 5,763 5,940 5,628 5,524 6,389
Total Assets 3,753 5,022 7,820 8,886 9,601 14,243 14,113 14,010 14,075 12,906 14,610 15,061

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
153 599 810 2,742 1,009 894 1,798 1,393 2,005 1,803 2,368 3,266
-247 -418 -2,113 -869 -798 -4,677 -246 229 -444 -196 -2,335 -168
20 86 1,212 -1,435 -193 3,417 -1,314 -1,549 -1,651 -1,781 77 -2,779
Net Cash Flow -73 268 -90 437 18 -366 238 73 -89 -174 110 319

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 78 96 125 79 60 77 68 76 69 70 74 63
Inventory Days 364 297 275 314 318 429 318 362 456 368 298 310
Days Payable 421 421 472 523 356 447 345 345 351 250 224 284
Cash Conversion Cycle 22 -28 -71 -130 21 59 42 93 174 188 147 88
Working Capital Days 33 42 54 -1 28 20 -17 -2 82 89 74 58
ROCE % 33% 35% 27% 48% 19% 13% 13% 15% 17% 19% 20%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
71.25% 71.25% 71.25% 71.25% 71.25% 71.25% 71.25% 71.25% 71.25% 71.25% 71.25% 71.25%
11.65% 11.53% 11.63% 10.88% 10.80% 11.37% 12.09% 12.04% 12.85% 13.15% 14.08% 14.14%
8.42% 8.72% 8.94% 9.74% 10.01% 9.40% 8.77% 8.89% 8.22% 7.91% 7.11% 7.15%
0.00% 0.00% 0.00% 0.00% 0.00% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
8.68% 8.50% 8.18% 8.14% 7.95% 7.87% 7.78% 7.71% 7.59% 7.59% 7.46% 7.34%
No. of Shareholders 64,52564,30967,20563,22962,93367,86665,23763,83161,57269,61269,11771,154

* 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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