Torrent Pharmaceuticals Ltd

About [ edit ]

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

  • Market Cap 46,067 Cr.
  • Current Price 2,722
  • High / Low 3,040 / 2,232
  • Stock P/E 37.1
  • Book Value 327
  • Dividend Yield 0.73 %
  • ROCE 15.0 %
  • ROE 21.0 %
  • Face Value 5.00

Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 51.25%

Cons

  • Stock is trading at 8.33 times its book value
  • The company has delivered a poor sales growth of 11.36% over past five years.
  • Tax rate seems low
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
1,708 1,872 1,894 2,051 1,856 2,022 2,005 1,966 1,946 2,056 2,017 1,995
1,344 1,395 1,421 1,490 1,383 1,481 1,464 1,426 1,398 1,395 1,382 1,388
Operating Profit 364 477 473 561 473 541 541 540 548 661 635 607
OPM % 21% 25% 25% 27% 25% 27% 27% 27% 28% 32% 31% 30%
Other Income 42 27 10 3 -340 20 34 53 15 4 6 8
Interest 121 122 126 133 123 122 116 111 102 102 92 91
Depreciation 151 150 152 156 160 160 163 163 168 161 165 167
Profit before tax 134 232 205 275 -150 279 296 319 293 402 384 357
Tax % -70% 30% 13% 11% -1% 23% 18% 21% -7% 20% 19% 17%
Net Profit 228 163 179 246 -152 216 244 251 314 321 310 297
EPS in Rs 13.47 9.63 10.58 14.54 -8.98 12.76 14.42 14.83 18.56 18.97 18.32 17.55

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
1,611 1,886 2,195 2,691 3,203 4,172 4,636 6,687 5,816 5,950 7,673 7,939 8,014
1,375 1,492 1,808 2,200 2,514 3,220 3,616 4,007 4,438 4,601 5,729 5,769 5,563
Operating Profit 236 394 388 491 688 951 1,020 2,680 1,377 1,349 1,944 2,170 2,451
OPM % 15% 21% 18% 18% 22% 23% 22% 40% 24% 23% 25% 27% 31%
Other Income 38 48 56 -11 10 38 286 85 223 299 -261 121 33
Interest 39 29 39 39 34 59 175 184 206 308 504 451 387
Depreciation 42 66 63 82 83 87 191 238 307 409 618 654 661
Profit before tax 192 347 342 359 582 844 940 2,343 1,088 931 562 1,187 1,436
Tax % 4% 33% 21% 20% 25% 21% 20% 26% 14% 27% 22% 14%
Net Profit 184 231 270 284 433 664 751 1,733 934 678 436 1,025 1,242
EPS in Rs 10.90 13.66 15.97 16.79 25.58 39.23 44.38 102.42 55.17 40.07 25.78 60.55 73.40
Dividend Payout % 18% 22% 25% 25% 45% 25% 25% 34% 25% 35% 66% 53%
Compounded Sales Growth
10 Years:15%
5 Years:11%
3 Years:11%
TTM:2%
Compounded Profit Growth
10 Years:16%
5 Years:6%
3 Years:4%
TTM:46%
Stock Price CAGR
10 Years:24%
5 Years:14%
3 Years:26%
1 Year:11%
Return on Equity
10 Years:26%
5 Years:24%
3 Years:16%
Last Year:21%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
42 42 42 42 42 85 85 85 85 85 85 85 85
Reserves 609 789 980 1,152 1,380 1,818 2,406 3,409 4,266 4,538 4,640 4,739 5,446
Borrowings 483 522 572 579 693 1,132 2,740 2,352 2,510 6,462 6,038 5,840 3,952
524 599 941 1,275 1,638 1,988 2,589 3,040 2,740 3,159 3,351 3,375 4,989
Total Liabilities 1,658 1,953 2,536 3,048 3,753 5,022 7,820 8,886 9,601 14,243 14,113 14,038 14,472
511 541 636 797 820 875 2,833 2,859 3,688 7,855 7,748 7,533 7,414
CWIP 53 110 180 119 285 534 678 1,042 519 647 617 712 687
Investments 139 141 146 124 60 186 298 780 804 492 353 2 562
953 1,161 1,574 2,008 2,587 3,427 4,011 4,206 4,589 5,249 5,395 5,791 5,809
Total Assets 1,658 1,953 2,536 3,048 3,753 5,022 7,820 8,886 9,601 14,243 14,113 14,038 14,472

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
254 287 395 486 153 599 810 2,742 1,009 894 1,798 1,392
-40 -122 -233 -137 -247 -418 -2,113 -869 -798 -4,677 -246 -121
-18 -5 -68 -193 20 86 1,212 -1,435 -193 3,417 -1,314 -1,549
Net Cash Flow 197 160 94 156 -73 268 -90 437 18 -366 238 -278

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 24% 30% 25% 27% 33% 35% 27% 48% 19% 13% 13% 15%
Debtor Days 60 58 57 71 78 96 125 79 60 77 68 76
Inventory Turnover 2.26 2.03 1.78 1.78 1.36 1.36 1.46 1.38 1.30 1.02 1.21 1.12

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
71.25 71.25 71.25 71.25 71.25 71.25 71.25 71.25 71.25 71.25 71.25 71.25
7.53 8.05 8.09 8.63 7.53 7.66 8.48 9.82 10.99 12.17 11.96 11.37
11.79 11.30 10.92 10.51 11.27 13.13 12.32 10.86 9.71 8.44 8.09 8.35
9.43 9.40 9.74 9.61 9.95 7.96 7.95 8.08 8.05 8.14 8.70 9.03

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