Wockhardt Ltd

₹ 1,768 14.24%

11 Jun 1:25 p.m.

wockhardt.com BSE: 532300 NSE: WOCKPHARMA

About

Wockhardt is a global pharmaceutical and biotechnology organization engaged in manufacturing finished dosage formulations, injectables, biopharmaceuticals, orals and topicals (creams and ointments). ^[1]

Key Points

Market Position
The company is amongst the top 3 Indian generic companies in the UK and the 6th largest generic supplier in the retail and hospital channels in Ireland. It is the No. 1 Methycobalamin brand in India. ^[1]

Website BSE NSE

Market Cap ₹ 28,724 Cr.
Current Price ₹ 1,768
High / Low ₹ 1,804 / 552
Stock P/E
Book Value ₹ 170
Dividend Yield 0.00 %
ROCE 4.40 %
ROE -0.53 %
Face Value ₹ 5.00

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Pros

Cons

Stock is trading at 9.32 times its book value
Company has low interest coverage ratio.
The company has delivered a poor sales growth of 9.51% over past five years.
Company has a low return on equity of -10.8% over last 3 years.
Company has high debtors of 159 days.
Promoter holding has decreased over last 3 years: -18.0%
Working capital days have increased from 198 days to 303 days

* 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.

Peer comparison

Healthcare Healthcare Pharmaceuticals & Biotechnology Pharmaceuticals

Part of BSE Healthcare Nifty 500 BSE SmallCap BSE Allcap Nifty MidSmallcap 400 Nifty Smallcap 250 Nifty 500 Multicap 50:25:25 Nifty Total Market

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	474	241	258	282	291	251	260	288	355	352	370	325	355
	288	236	247	256	321	256	270	263	401	272	321	263	249
Operating Profit	186	5	11	26	-30	-5	-10	25	-46	80	49	62	106
OPM %	39%	2%	4%	9%	-10%	-2%	-4%	9%	-13%	23%	13%	19%	30%
	22	49	-21	18	-156	-8	6	5	24	27	11	6	14
Interest	78	61	58	52	58	58	59	61	59	58	53	48	40
Depreciation	43	47	47	47	45	44	44	43	45	43	43	42	40
Profit before tax	87	-54	-115	-55	-289	-115	-107	-74	-126	6	-36	-22	40
Tax %	54%	-31%	-35%	0%	3%	0%	0%	0%	0%	0%	0%	0%	0%
	40	-37	-75	-55	-299	-115	-107	-74	-126	6	-36	-22	40
EPS in Rs	2.78	-2.57	-5.21	-3.82	-20.75	-7.98	-7.43	-5.14	-8.21	0.39	-2.35	-1.35	2.46
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	1,805	1,887	2,217	2,298	2,477	1,557	890	987	1,372	1,072	1,154	1,402
	1,780	1,879	2,091	2,153	2,154	1,619	1,023	1,125	1,150	1,002	1,190	1,102
Operating Profit	25	7	126	145	323	-62	-133	-138	222	70	-36	300
OPM %	1%	0%	6%	6%	13%	-4%	-15%	-14%	16%	7%	-3%	21%
	319	465	62	248	57	126	138	884	38	-168	27	55
Interest	34	19	108	169	170	171	220	200	273	229	237	199
Depreciation	96	103	99	106	106	120	173	184	171	186	176	168
Profit before tax	215	350	-20	119	104	-227	-389	362	-184	-513	-422	-12
Tax %	8%	5%	-143%	-15%	34%	-64%	-41%	-64%	-24%	-9%	0%	0%
	199	332	8	137	69	-82	-231	593	-140	-466	-422	-12
EPS in Rs	13.92	23.19	0.58	9.54	4.77	-5.69	-16.05	41.18	-9.72	-32.34	-27.51	-0.74
Dividend Payout %	55%	66%	0%	81%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-3%
5 Years:	10%
3 Years:	1%
TTM:	21%

Compounded Profit Growth
10 Years:	%
5 Years:	14%
3 Years:	24%
TTM:	97%

Stock Price CAGR
10 Years:	2%
5 Years:	46%
3 Years:	85%
1 Year:	164%

Return on Equity
10 Years:	-1%
5 Years:	-1%
3 Years:	-11%
Last Year:	-1%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	55	55	55	55	55	55	55	55	72	72	77	81
Reserves	882	1,016	1,113	1,164	1,239	1,171	939	1,551	2,140	1,681	1,719	2,682
	482	1,138	1,984	2,120	1,773	1,885	2,370	2,078	2,024	2,013	2,136	1,796
	1,972	1,939	1,431	1,230	1,318	1,426	1,395	1,211	1,562	966	936	849
Total Liabilities	3,391	4,149	4,584	4,569	4,386	4,538	4,760	4,895	5,798	4,732	4,868	5,408
	1,033	1,005	1,402	1,465	1,423	1,614	2,044	1,684	1,828	1,625	1,449	2,457
CWIP	582	792	664	665	653	381	305	716	825	823	833	79
Investments	308	297	297	297	297	297	297	297	297	297	297	719
	1,469	2,054	2,221	2,142	2,013	2,245	2,113	2,198	2,848	1,987	2,289	2,153
Total Assets	3,391	4,149	4,584	4,569	4,386	4,538	4,760	4,895	5,798	4,732	4,868	5,408

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	131	-53	-363	-235	119	58	222	-563	-93	71	188	-14
	-25	203	-1,015	369	451	120	-16	1,014	-244	-3	-75	-900
	-188	425	764	-133	-524	-69	-274	-480	430	-236	346	486
Net Cash Flow	-81	575	-614	1	46	109	-69	-29	93	-168	459	-428

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	50	41	45	54	118	236	385	353	344	188	179	159
Inventory Days	221	240	216	206	141	195	367	305	297	330	254	357
Days Payable	151	158	134	133	167	325	611	355	446	507	459	398
Cash Conversion Cycle	120	123	126	127	92	105	141	303	194	11	-26	117
Working Capital Days	-56	-171	73	33	9	79	39	193	173	170	122	303
ROCE %	18%	20%	3%	9%	9%	-2%	-5%	-8%	2%	-1%	-4%	4%

Shareholding Pattern

Numbers in percentages

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	65.75%	63.83%	60.36%	59.31%	58.40%	55.14%	54.93%	51.60%	51.99%	51.99%	49.09%	49.09%
	2.82%	2.98%	2.87%	2.78%	2.60%	3.03%	4.18%	5.49%	5.94%	6.70%	6.54%	6.82%
	0.09%	0.15%	0.22%	0.22%	0.18%	0.21%	0.30%	4.82%	4.45%	5.08%	9.82%	10.58%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%	0.02%	0.02%	0.02%
	31.34%	33.04%	36.55%	37.70%	38.83%	41.62%	40.59%	38.06%	37.62%	36.21%	34.54%	33.50%
No. of Shareholders	1,80,170	1,80,633	1,84,908	1,82,493	1,78,915	1,72,989	1,61,813	1,46,138	1,40,391	1,38,142	1,42,710	1,41,799

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	74.25%	74.11%	74.07%	72.13%	72.12%	67.13%	59.31%	51.60%	49.09%
	4.55%	5.45%	4.74%	4.85%	3.10%	2.89%	2.78%	5.49%	6.82%
	2.71%	4.99%	2.55%	0.24%	0.09%	0.09%	0.22%	4.82%	10.58%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.02%
	18.49%	15.45%	18.64%	22.78%	24.69%	29.89%	37.70%	38.06%	33.50%
No. of Shareholders	1,24,403	99,736	1,14,338	1,17,324	1,25,488	1,72,460	1,82,493	1,46,138	1,41,799

* 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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