Wockhardt Ltd

Wockhardt Ltd

₹ 845 0.58%
16 Jul - close price
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 Co. is amongst top 3 Indian generic companies in the UK and 6th Largest generic supplier in Ireland in Retail and Hospital channels.
Its Wepox is the leader in Erythropoetin market (market share =21%)and Methylcobalamin Brand is no. 1 with (Methycobal= 26.7% market share) {#https://www.bseindia.com/bseplus/AnnualReport/532300/73832532300.pdf#page=34 #}

  • Market Cap 12,956 Cr.
  • Current Price 845
  • High / Low 995 / 213
  • Stock P/E
  • Book Value 219
  • Dividend Yield 0.00 %
  • ROCE -0.83 %
  • ROE -12.1 %
  • Face Value 5.00

Pros

  • Company's working capital requirements have reduced from 45.3 days to 20.7 days

Cons

  • Stock is trading at 3.86 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -4.73% over past five years.
  • Company has a low return on equity of -7.58% over last 3 years.
  • Promoters have pledged 37.5% of their holding.
  • Promoter holding has decreased over last 3 years: -17.7%

* 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
632 860 862 854 655 595 679 699 678 644 753 701 700
698 739 765 742 688 611 636 654 675 628 681 664 803
Operating Profit -66 121 97 112 -33 -16 43 45 3 16 72 37 -103
OPM % -10% 14% 11% 13% -5% -3% 6% 6% 0% 2% 10% 5% -15%
8 2 4 2 -169 57 -138 -1 -64 0 24 8 54
Interest 55 64 69 80 86 73 70 83 76 79 76 77 73
Depreciation 65 64 61 62 59 64 65 66 56 55 55 55 58
Profit before tax -178 -6 -29 -28 -347 -96 -230 -105 -193 -118 -35 -87 -180
Tax % 40% -10% 228% 107% 10% 22% 10% 3% -23% -15% -109% 1% 2%
-107 -7 37 2 -311 -75 -207 -102 -237 -136 -73 -86 -177
EPS in Rs -6.46 -0.88 2.36 -0.49 -17.91 -4.65 -13.12 -6.66 -14.44 -9.30 -5.34 -5.76 -11.02
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
5,609 4,830 4,482 4,453 4,015 3,937 3,566 2,844 2,708 3,230 2,651 2,798
3,606 3,805 3,772 3,959 4,002 3,935 3,604 2,725 2,771 2,932 2,549 2,707
Operating Profit 2,004 1,026 709 494 13 2 -38 119 -63 298 102 91
OPM % 36% 21% 16% 11% 0% 0% -1% 4% -2% 9% 4% 3%
187 88 67 66 114 -238 116 133 975 -163 -173 17
Interest 215 83 55 129 225 255 265 276 249 299 302 305
Depreciation 122 140 145 142 149 150 164 224 246 247 251 223
Profit before tax 1,853 891 575 289 -247 -641 -351 -247 417 -411 -624 -420
Tax % 14% 5% 28% 13% 9% -4% 38% 82% -65% 32% 0% -12%
1,594 843 413 252 -226 -667 -217 -43 688 -279 -621 -472
EPS in Rs 111.87 58.91 28.30 17.45 -13.62 -42.30 -13.52 -4.81 47.64 -16.94 -38.80 -30.18
Dividend Payout % 3% 13% 54% 0% -56% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -5%
5 Years: -5%
3 Years: 1%
TTM: 6%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -36%
Stock Price CAGR
10 Years: 5%
5 Years: 22%
3 Years: 17%
1 Year: 254%
Return on Equity
10 Years: -1%
5 Years: 0%
3 Years: -8%
Last Year: -12%

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 55 55 55 55 55 55 55 55 55 72 72 77
Reserves 2,351 3,228 3,362 3,720 3,281 2,797 2,619 2,616 3,321 3,777 3,282 3,282
2,369 2,205 2,309 2,677 4,160 3,748 3,375 3,582 2,674 2,198 2,184 2,356
1,248 1,134 1,213 1,622 1,486 1,528 1,764 1,894 1,696 2,168 2,113 1,899
Total Liabilities 6,023 6,622 6,939 8,074 8,982 8,128 7,813 8,148 7,746 8,215 7,651 7,614
1,990 2,295 2,123 2,809 2,773 2,888 3,058 3,502 3,343 3,462 3,042 2,881
CWIP 491 708 1,007 1,036 1,244 1,433 1,445 1,585 1,379 1,342 1,539 1,722
Investments 3 577 341 0 563 214 0 0 0 0 0 0
3,539 3,043 3,468 4,228 4,403 3,593 3,309 3,060 3,024 3,411 3,070 3,011
Total Assets 6,023 6,622 6,939 8,074 8,982 8,128 7,813 8,148 7,746 8,215 7,651 7,614

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
1,532 1,476 355 -42 -269 68 183 649 -287 413 153 219
1,074 -823 -222 -105 -684 635 93 -147 1,471 -204 -118 -138
-2,246 -601 -76 193 1,254 -769 -776 -680 -1,171 -71 -315 334
Net Cash Flow 360 52 57 46 301 -66 -500 -178 13 138 -280 415

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 62 36 60 91 94 89 130 159 124 104 110 81
Inventory Days 221 201 250 249 243 174 183 209 256 222 216 201
Days Payable 132 113 136 144 117 122 187 272 223 265 285 240
Cash Conversion Cycle 151 124 175 196 220 141 126 97 157 60 41 41
Working Capital Days 42 9 43 97 96 -16 7 -47 122 62 53 21
ROCE % 42% 18% 10% 7% -1% -1% -1% 0% 12% 1% -0% -1%

Shareholding Pattern

Numbers in percentages

2 Recently
Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
68.04% 67.13% 67.13% 65.75% 63.83% 60.36% 59.31% 58.40% 55.14% 54.93% 51.60% 51.99%
2.88% 2.95% 2.89% 2.82% 2.98% 2.87% 2.78% 2.60% 3.03% 4.18% 5.49% 5.94%
0.05% 0.09% 0.09% 0.09% 0.15% 0.22% 0.22% 0.18% 0.21% 0.30% 4.82% 4.45%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.01%
29.02% 29.83% 29.89% 31.34% 33.04% 36.55% 37.70% 38.83% 41.62% 40.59% 38.06% 37.62%
No. of Shareholders 1,61,6251,65,2701,72,4601,80,1701,80,6331,84,9081,82,4931,78,9151,72,9891,61,8131,46,1381,40,391

* 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

Concalls