Torrent Pharmaceuticals Ltd

Torrent Pharmaceuticals Ltd

₹ 2,627 0.73%
23 Feb - 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 88,879 Cr.
  • Current Price 2,627
  • High / Low 2,700 / 1,446
  • Stock P/E 62.1
  • Book Value 198
  • Dividend Yield 0.84 %
  • ROCE 19.8 %
  • ROE 20.0 %
  • Face Value 5.00

Pros

  • Company has been maintaining a healthy dividend payout of 70.6%

Cons

  • Stock is trading at 13.3 times its book value
  • The company has delivered a poor sales growth of 10.1% over past five years.

* 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

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
1,995 1,937 2,134 2,137 2,108 2,131 2,347 2,291 2,491 2,491 2,591 2,660 2,732
1,388 1,355 1,457 1,477 1,570 1,570 1,635 1,612 1,767 1,764 1,800 1,835 1,863
Operating Profit 607 582 677 660 538 561 712 679 724 727 791 825 869
OPM % 30% 30% 32% 31% 26% 26% 30% 30% 29% 29% 31% 31% 32%
8 39 40 51 48 -429 30 16 -10 9 34 26 55
Interest 91 73 68 71 62 57 55 69 102 107 103 91 80
Depreciation 167 165 165 168 167 162 155 163 193 196 191 201 213
Profit before tax 357 383 484 472 357 -87 532 463 419 433 531 559 631
Tax % 17% 15% 32% 33% 30% -36% 33% 33% 30% 34% 29% 31% 30%
297 324 330 316 249 -118 354 312 292 287 378 386 443
EPS in Rs 8.78 9.57 9.75 9.34 7.36 -3.49 10.46 9.22 8.63 8.48 11.17 11.41 13.09
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
2,691 3,203 4,172 4,636 6,687 5,816 5,950 7,673 7,939 8,005 8,508 9,620 10,474
2,189 2,506 3,216 3,616 3,954 4,438 4,601 5,690 5,769 5,524 6,077 6,778 7,262
Operating Profit 502 697 955 1,020 2,733 1,377 1,349 1,983 2,170 2,480 2,431 2,842 3,212
OPM % 19% 22% 23% 22% 41% 24% 23% 26% 27% 31% 29% 30% 31%
-22 1 34 286 32 223 299 -300 121 57 -288 45 124
Interest 39 34 59 175 184 206 308 504 451 353 255 333 381
Depreciation 82 83 87 191 238 307 409 618 654 658 662 707 801
Profit before tax 359 582 844 940 2,343 1,088 931 562 1,187 1,526 1,226 1,847 2,154
Tax % 20% 25% 21% 20% 26% 14% 27% 22% 14% 18% 37% 33%
286 435 664 751 1,733 934 678 436 1,025 1,252 777 1,245 1,494
EPS in Rs 8.39 12.79 19.62 22.19 51.22 27.59 20.04 12.89 30.28 36.99 22.97 36.79 44.15
Dividend Payout % 25% 45% 25% 25% 34% 25% 35% 66% 53% 47% 105% 60%
Compounded Sales Growth
10 Years: 12%
5 Years: 10%
3 Years: 7%
TTM: 13%
Compounded Profit Growth
10 Years: 10%
5 Years: 14%
3 Years: 7%
TTM: 15%
Stock Price CAGR
10 Years: 25%
5 Years: 24%
3 Years: 29%
1 Year: 77%
Return on Equity
10 Years: 24%
5 Years: 19%
3 Years: 20%
Last Year: 20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 42 42 85 85 85 85 85 85 85 85 85 169 169
Reserves 1,152 1,380 1,818 2,406 3,409 4,266 4,538 4,640 4,739 5,753 5,868 6,029 6,538
579 693 1,132 2,740 2,352 2,510 6,462 6,038 5,784 4,874 4,070 5,369 4,487
1,275 1,638 1,988 2,589 3,040 2,740 3,159 3,351 3,402 3,363 2,884 3,043 3,550
Total Liabilities 3,048 3,753 5,022 7,820 8,886 9,601 14,243 14,113 14,010 14,075 12,906 14,610 14,744
797 820 875 2,833 2,859 3,688 7,855 7,748 7,533 7,065 6,423 8,121 8,369
CWIP 119 285 534 678 1,042 519 647 617 712 889 630 765 263
Investments 124 60 186 298 780 804 492 353 2 181 226 199 277
2,008 2,587 3,427 4,011 4,206 4,589 5,249 5,395 5,763 5,940 5,628 5,524 5,835
Total Assets 3,048 3,753 5,022 7,820 8,886 9,601 14,243 14,113 14,010 14,075 12,906 14,610 14,744

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
486 153 599 810 2,742 1,009 894 1,798 1,393 2,005 1,803 2,368
-137 -247 -418 -2,113 -869 -798 -4,677 -246 229 -444 -196 -2,335
-193 20 86 1,212 -1,435 -193 3,417 -1,314 -1,549 -1,651 -1,781 77
Net Cash Flow 156 -73 268 -90 437 18 -366 238 73 -89 -174 110

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 71 78 96 125 79 60 77 68 76 69 70 74
Inventory Days 225 364 297 275 314 318 429 318 362 456 368 298
Days Payable 365 421 421 472 523 356 447 345 345 351 250 224
Cash Conversion Cycle -69 22 -28 -71 -130 21 59 42 93 174 188 147
Working Capital Days 0 33 42 54 -1 28 20 -17 -2 82 89 74
ROCE % 27% 33% 35% 27% 48% 19% 13% 13% 15% 17% 19% 20%

Shareholding Pattern

Numbers in percentages

5 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
71.25% 71.25% 71.25% 71.25% 71.25% 71.25% 71.25% 71.25% 71.25% 71.25% 71.25% 71.25%
11.37% 11.65% 11.53% 11.63% 10.88% 10.80% 11.37% 12.09% 12.04% 12.85% 13.15% 14.08%
8.35% 8.42% 8.72% 8.94% 9.74% 10.01% 9.40% 8.77% 8.89% 8.22% 7.91% 7.11%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
9.03% 8.68% 8.50% 8.18% 8.14% 7.95% 7.87% 7.78% 7.71% 7.59% 7.59% 7.46%
No. of Shareholders 72,61664,52564,30967,20563,22962,93367,86665,23763,83161,57269,61269,117

* 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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Documents

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