Ipca Laboratories

₹1592.9 10.6 | 0.7%

WEBSITE BSE:524494 NSE : IPCA LAB LTD 26 Dec, 16:01

Market Cap ₹40411 Cr.

Stock P/E 76.4

P/B 6

Current Price ₹1592.9

Book Value ₹ 265.6

Face Value 1

52W High ₹1708.7

Dividend Yield 0.25%

52W Low ₹ 1053.5

Edit Ratio

Ipca Laboratories Research see more...

Overview Inc. Year: 1949Industry: Pharmaceuticals & Drugs

Ipca Laboratories Ltd is an India-based pharmaceutical company. The Company is in production and marketing over 350 formulations and about 80 APIs masking diverse healing segments. It offers APIs, which includes Chlorthalidone, Furosemide, Hydroxychloroquine sulfate, Atenolol, Chloroquine Phosphate, Losartan, Metoprolol Succinate, Metoprolol Tartrate, Pyrantel Salts and Propranolol. The Company gives brands, consisting of Tenoric, Lumerax, Etova, Fexova, Malirid, Allsuth, Alwiz, AZR 50mg, Zerodol, Lariago, HCQS, Perinorm, Rapither AB, Bacilon, Cinkona, Clarbact, Glyree MV, Halotop, Xtor-F, Zabpro, Zilast, Ramcor, Sove, Luliz, Ozepam, Pacimol, Pari, Venpower and Folitrax. The merchandise of the Company are sold in over 100 international locations across the globe. The Company has 17 manufacturing devices in India manufacturing API's and formulations. Its subsidiaries consist of Ipca Pharmaceuticals, Inc., USA Ipca Laboratories (U.K.) Ltd and Tonira Exports Ltd.

Ipca Laboratories Share Price

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Peer Comparison

Ipca Laboratories Quarterly Results

#(Fig in Cr.)	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018
Net Sales	669	713	864	860	782
Other Income	4	6	11	11	13
Total Income	673	719	875	870	794
Total Expenditure	598	691	715	698	673
Operating Profit	74	28	160	172	121
Interest	6	6	6	6	6
Depreciation	43	43	44	44	43
Exceptional Income / Expenses	0	0	0	0	0
Profit Before Tax	26	-21	110	123	72
Provision for Tax	-19	-1	13	17	20
Profit After Tax	44	-20	96	106	51
Adjustments	-44	20	-96	-106	-51
Profit After Adjustments	0	0	0	0	0
Adjusted Earnings Per Share	1.8	-0.8	3.8	4.2	2

Ipca Laboratories Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Net Sales	3235	3088	2804	3102	3193	3606	4338	5114	5405	5775	6124	3219
Other Income	51	59	46	57	58	72	84	129	109	137	160	41
Total Income	3286	3146	2850	3159	3251	3677	4422	5243	5514	5912	6284	3258
Total Expenditure	2528	2582	2546	2704	2766	2927	3439	3664	4220	4887	4959	2777
Operating Profit	758	564	304	455	485	750	983	1579	1294	1025	1325	481
Interest	28	29	31	26	27	21	19	11	10	46	123	24
Depreciation	101	177	161	171	174	172	179	188	210	229	246	174
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	-133	0
Profit Before Tax	629	358	111	258	283	557	785	1380	1074	750	822	284
Provision for Tax	152	102	19	70	50	102	133	239	214	245	292	49
Profit After Tax	477	256	93	188	233	455	652	1141	860	506	530	233
Adjustments	0	0	0	0	0	0	0	0	0	0	0	-233
Profit After Adjustments	477	256	93	188	233	455	652	1141	860	506	530	0
Adjusted Earnings Per Share	18.9	10.1	3.7	7.5	9.2	18	25.8	45	33.9	19.9	20.9	9.2

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	6%	6%	11%	7%
Operating Profit CAGR	29%	-6%	12%	6%
PAT CAGR	5%	-23%	3%	1%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	50%	16%	23%	16%
ROE Average	9%	11%	16%	14%
ROCE Average	13%	15%	19%	16%

Ipca Laboratories Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Shareholder's Funds	1982	2233	2283	2475	2695	3137	3678	4753	5476	5877	6349
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	292	501	484	352	234	134	78	9	395	652	542
Other Non-Current Liabilities	164	195	177	195	186	173	187	183	214	240	248
Total Current Liabilities	780	894	960	946	993	1014	1242	1066	1354	1678	1520
Total Liabilities	3217	3824	3905	3968	4108	4458	5185	6010	7438	8447	8659
Fixed Assets	1306	1753	1977	1946	1855	1740	1841	1869	2153	2479	2524
Other Non-Current Assets	329	478	328	310	346	432	631	864	1050	1093	2626
Total Current Assets	1583	1593	1600	1712	1907	2286	2712	3278	4224	4875	3510
Total Assets	3217	3824	3905	3968	4108	4458	5185	6010	7438	8447	8659

Ipca Laboratories Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Opening Cash & Cash Equivalents	53	67	87	155	125	199	348	272	500	946	1505
Cash Flow from Operating Activities	515	455	696	271	324	496	561	1096	832	762	831
Cash Flow from Investing Activities	-362	-686	-214	-146	-119	-123	-499	-560	-814	-710	-1355
Cash Flow from Financing Activities	-138	255	-414	-156	-130	-223	-139	-307	426	506	-465
Net Cash Inflow / Outflow	14	25	68	-31	74	150	-76	229	444	559	-990
Closing Cash & Cash Equivalent	67	92	155	125	199	348	272	501	946	1505	515

Ipca Laboratories Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings Per Share (Rs)	18.91	10.15	3.67	7.46	9.24	18	25.82	44.97	33.91	19.93	20.91
CEPS(Rs)	22.91	17.17	10.05	14.23	16.14	24.8	32.89	52.36	42.18	28.94	30.62
DPS(Rs)	2.5	0.5	0	0.5	0.5	1.5	2.5	4	4	4	4
Book NAV/Share(Rs)	78.51	88.48	90.45	98.06	106.76	124.13	145.06	187.34	215.84	231.66	250.24
Core EBITDA Margin(%)	21.62	16.2	9.06	12.62	13.26	18.68	20.57	28.22	21.8	15.27	18.89
EBIT Margin(%)	20.1	12.4	5.01	9	9.64	15.92	18.4	27.07	19.94	13.7	15.32
Pre Tax Margin(%)	19.26	11.47	3.92	8.18	8.78	15.34	17.97	26.85	19.75	12.91	13.33
PAT Margin (%)	14.61	8.21	3.25	5.96	7.24	12.52	14.94	22.2	15.82	8.7	8.6
Cash Profit Margin (%)	17.7	13.89	8.93	11.38	12.66	17.25	19.03	25.85	19.68	12.63	12.6
ROA(%)	16.11	7.27	2.39	4.78	5.77	10.62	13.53	20.38	12.8	6.37	6.2
ROE(%)	26.88	12.15	4.1	7.91	9.02	15.6	19.18	27.1	16.82	8.91	8.68
ROCE(%)	27.57	13.48	4.52	8.97	9.53	16.76	20.84	30.54	19.34	11.77	12.78
Receivable days	48.31	46.94	51.03	54.52	62.15	61.61	61.48	57.3	53.65	54.93	57.81
Inventory Days	87.8	102.68	112.26	98.55	99.02	96.88	97.05	98.87	110.63	107.96	98.77
Payable days	89.36	105.16	140.7	146.39	137.13	140.11	125.63	123.17	103.53	83.21	86.05
PER(x)	22.33	31.46	79.08	41.78	35.45	27.29	26.88	21.16	31.29	40.65	59.23
Price/Book(x)	5.38	3.61	3.2	3.18	3.07	3.96	4.78	5.08	4.92	3.5	4.95
Dividend Yield(%)	0.59	0.16	0	0.16	0.15	0.31	0.36	0.42	0.38	0.49	0.32
EV/Net Sales(x)	3.46	2.87	2.86	2.76	2.74	3.49	4.11	4.7	5.01	3.51	5.3
EV/Core EBITDA(x)	14.77	15.73	26.4	18.82	18.08	16.79	18.16	15.24	20.93	19.77	24.49
Net Sales Growth(%)	16.73	-4.54	-9.2	10.65	2.94	12.91	20.31	17.9	5.7	6.83	6.05
EBIT Growth(%)	32.56	-41.09	-63.15	99.35	9.17	86.45	38.95	73.06	-22.04	-26.53	18.56
PAT Growth(%)	44.05	-46.35	-63.87	103.51	23.8	95.15	43.43	74.84	-24.58	-41.22	4.89
EPS Growth(%)	44.05	-46.35	-63.88	103.51	23.8	94.92	43.43	74.15	-24.58	-41.22	4.89
Debt/Equity(x)	0.3	0.42	0.38	0.29	0.23	0.14	0.12	0.05	0.14	0.24	0.18
Current Ratio(x)	2.03	1.78	1.67	1.81	1.92	2.25	2.18	3.08	3.12	2.91	2.31
Quick Ratio(x)	0.95	0.76	0.8	0.89	1.04	1.21	1.16	1.65	1.81	1.92	1.21
Interest Cover(x)	23.79	13.29	4.58	10.93	11.3	27.43	42.67	124.99	104.18	17.2	7.71
Total Debt/Mcap(x)	0.06	0.12	0.12	0.09	0.08	0.04	0.03	0.01	0.03	0.07	0.04

Ipca Laboratories Shareholding Pattern

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	46.29	46.29	46.29	46.29	46.29	46.29	46.29	46.3	46.3	46.3
FII	10.61	10.55	10.44	10.57	10.05	9.85	10.27	10.5	10.85	10.83
DII	33.74	33.81	34.04	34.07	35.19	35.05	34.52	34.37	33.78	34.22
Public	9.37	9.35	9.22	9.07	8.48	8.81	8.92	8.82	9.07	8.65
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	11.74	11.74	11.74	11.74	11.74	11.74	11.74	11.75	11.75	11.75
FII	2.69	2.68	2.65	2.68	2.55	2.5	2.61	2.66	2.75	2.75
DII	8.56	8.58	8.64	8.64	8.93	8.89	8.76	8.72	8.57	8.68
Public	2.38	2.37	2.34	2.3	2.15	2.24	2.26	2.24	2.3	2.19
Others	0	0	0	0	0	0	0	0	0	0
Total	25.37	25.37	25.37	25.37	25.37	25.37	25.37	25.37	25.37	25.37

Pros

Company has reduced debt.
Company is almost debt free.

Cons

Promoter holding is low: 46.3%.
Company has a low return on equity of 11% over the last 3 years.
Debtor days have increased from 83.21 to 86.05days.
Stock is trading at 6 times its book value.
The company has delivered a poor profit growth of 3% 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.

Ipca Laboratories News

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Ipca Laboratories

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Ipca Laboratories Research see more...

Overview Inc. Year: 1949Industry: Pharmaceuticals & Drugs

Ipca Laboratories Share Price

Alert Data

Quarterly Price

Peer Comparison

Ipca Laboratories Quarterly Results

Ipca Laboratories Profit & Loss

Growth Rates

Ipca Laboratories Balance Sheet

Ipca Laboratories Cash Flow

Ipca Laboratories Ratios

Ipca Laboratories Shareholding Pattern

Ipca Laboratories News

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