Makers Laboratories Ltd

₹ 152 2.46%

24 Apr 12:23 p.m.

About

Incorporated in 1984, Makers Laboratories
Ltd is in the business of manufacturing and marketing of pharmaceuticals

Key Points

Business Overview:^[1]^[2]^[3]
The company markets 200+ generic formulations in India across major therapeutic segments like anti-malarial, antibiotics, anti-inflammatory, analgesics, and anti-diabetics, catering to dispensing doctors, nursing homes, and hospitals. It also undertakes job work for injectables (anti-malarial) for IPCA and procures products on a P2P basis from manufacturers in Himachal Pradesh and Uttarakhand's excise-free zones.

Website BSE

Market Cap ₹ 89.7 Cr.
Current Price ₹ 152
High / Low ₹ 230 / 114
Stock P/E 20.0
Book Value ₹ 98.8
Dividend Yield 0.00 %
ROCE -7.84 %
ROE -12.7 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is almost debt free.
Company's working capital requirements have reduced from 36.4 days to 21.2 days

Cons

The company has delivered a poor sales growth of 0.95% over past five years.
Company has a low return on equity of -8.25% over last 3 years.
Earnings include an other income of Rs.11.0 Cr.

* 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

Sector: Pharmaceuticals Industry: Pharmaceuticals - Indian - Formulations

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	13.51	9.03	9.67	11.41	10.63	10.84	11.54	14.92	11.17	11.45	12.29	11.50	9.45
	12.08	10.05	11.19	12.00	12.48	11.02	13.32	15.63	12.28	11.59	12.56	11.66	10.01
Operating Profit	1.43	-1.02	-1.52	-0.59	-1.85	-0.18	-1.78	-0.71	-1.11	-0.14	-0.27	-0.16	-0.56
OPM %	10.58%	-11.30%	-15.72%	-5.17%	-17.40%	-1.66%	-15.42%	-4.76%	-9.94%	-1.22%	-2.20%	-1.39%	-5.93%
	0.04	0.08	0.13	0.69	0.14	0.18	0.19	0.69	0.12	0.15	0.14	10.19	0.57
Interest	0.39	0.40	0.37	0.33	0.40	0.28	0.35	0.41	0.42	0.46	0.39	0.33	0.13
Depreciation	0.47	0.47	0.48	0.60	0.66	0.66	0.67	0.68	0.68	0.68	0.71	0.71	0.73
Profit before tax	0.61	-1.81	-2.24	-0.83	-2.77	-0.94	-2.61	-1.11	-2.09	-1.13	-1.23	8.99	-0.85
Tax %	-11.48%	-11.60%	1.79%	-13.25%	-7.58%	-12.77%	-5.75%	-10.81%	-7.18%	37.17%	-1.63%	10.57%	-9.41%
	0.67	-1.60	-2.27	-0.71	-2.57	-0.80	-2.46	-0.99	-1.95	-1.56	-1.22	8.03	-0.77
EPS in Rs	1.14	-2.71	-3.85	-1.20	-4.36	-1.36	-4.17	-1.68	-3.30	-2.64	-2.07	13.61	-1.30
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	61.55	68.37	64.91	61.41	58.13	55.95	46.60	51.31	44.34	52.34	42.46	48.85	44.69
	57.66	65.93	60.53	56.71	52.69	51.28	44.38	48.55	41.03	49.24	46.60	52.60	45.82
Operating Profit	3.89	2.44	4.38	4.70	5.44	4.67	2.22	2.76	3.31	3.10	-4.14	-3.75	-1.13
OPM %	6.32%	3.57%	6.75%	7.65%	9.36%	8.35%	4.76%	5.38%	7.47%	5.92%	-9.75%	-7.68%	-2.53%
	1.57	0.21	0.94	0.41	1.24	1.50	2.56	0.18	0.41	0.80	1.14	1.14	11.05
Interest	0.96	0.49	0.39	0.36	0.27	0.36	0.26	0.70	1.60	1.68	1.38	1.63	1.31
Depreciation	1.01	0.97	1.53	1.25	1.08	1.57	1.50	1.99	4.20	1.91	2.40	2.71	2.83
Profit before tax	3.49	1.19	3.40	3.50	5.33	4.24	3.02	0.25	-2.08	0.31	-6.78	-6.95	5.78
Tax %	30.09%	50.42%	30.88%	34.29%	30.77%	27.83%	18.87%	148.00%	-22.12%	45.16%	-6.05%	0.00%
	2.44	0.60	2.35	2.31	3.70	3.06	2.45	-0.12	-1.62	0.17	-6.36	-6.95	4.48
EPS in Rs	4.14	1.02	3.98	3.92	6.27	5.19	4.15	-0.20	-2.75	0.29	-10.78	-11.78	7.60
Dividend Payout %	0.00%	0.00%	20.94%	21.30%	13.30%	16.08%	20.08%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	-3%
5 Years:	1%
3 Years:	3%
TTM:	-8%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	172%

Stock Price CAGR
10 Years:	8%
5 Years:	28%
3 Years:	-5%
1 Year:	1%

Return on Equity
10 Years:	0%
5 Years:	-6%
3 Years:	-8%
Last Year:	-13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	4.92	4.92	4.92	4.92	4.92	4.92	4.92	4.92	4.92	4.92	5.90	5.90	5.90
Reserves	17.39	17.99	19.71	21.42	29.15	31.90	36.78	39.70	44.70	45.38	52.38	45.55	52.39
	4.40	2.12	0.80	0.18	1.43	1.29	6.38	13.05	15.99	19.40	11.20	15.37	3.96
	12.04	15.99	13.67	13.68	14.70	15.18	11.94	16.20	13.51	15.78	15.30	19.33	13.00
Total Liabilities	38.75	41.02	39.10	40.20	50.20	53.29	60.02	73.87	79.12	85.48	84.78	86.15	75.25
	12.26	11.94	11.47	10.39	17.30	16.62	18.10	32.89	30.59	29.94	40.45	39.88	31.83
CWIP	0.01	1.92	2.71	4.23	0.15	0.11	6.42	0.69	0.12	8.94	0.04	0.00	0.10
Investments	4.04	2.50	2.35	2.35	7.12	9.18	11.16	15.04	23.66	22.55	22.52	22.56	22.59
	22.44	24.66	22.57	23.23	25.63	27.38	24.34	25.25	24.75	24.05	21.77	23.71	20.73
Total Assets	38.75	41.02	39.10	40.20	50.20	53.29	60.02	73.87	79.12	85.48	84.78	86.15	75.25

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	1.01	1.30	1.32	3.52	5.53	0.21	5.39	4.23	0.67	6.80	-1.42	-3.06
	0.81	-1.12	-1.00	-1.49	-2.96	-2.06	-8.31	-8.43	-2.65	-8.78	-3.55	-2.04
	-1.85	-0.45	-0.38	-0.91	0.39	-1.09	3.92	2.91	1.37	1.77	4.94	5.12
Net Cash Flow	-0.03	-0.27	-0.06	1.12	2.96	-2.95	1.00	-1.29	-0.61	-0.21	-0.04	0.02

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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	58.59	66.89	66.58	85.65	75.73	73.20	39.32	53.71	59.19	37.31	64.73	49.09
Inventory Days	100.40	82.37	83.67	60.14	84.04	135.66	147.65	132.22	176.97	159.36	109.67	135.03
Days Payable	90.69	86.93	68.30	73.93	75.31	67.88	49.81	90.79	98.48	52.16	61.39	127.16
Cash Conversion Cycle	68.31	62.33	81.96	71.87	84.46	140.97	137.16	95.14	137.68	144.51	113.01	56.96
Working Capital Days	65.77	65.93	71.53	71.92	44.77	79.33	72.61	44.67	82.73	43.59	44.53	21.15
ROCE %	12.82%	7.81%	13.08%	15.63%	15.54%	13.15%	7.63%	1.80%	-1.05%	3.02%	-7.77%	-7.84%

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
	61.27%	61.28%	61.28%	61.28%	61.28%	61.28%	61.28%	61.28%	61.28%	61.28%	61.28%	61.28%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.39%	0.39%
	38.72%	38.73%	38.73%	38.72%	38.73%	38.73%	38.74%	38.73%	38.74%	38.73%	38.33%	38.34%
No. of Shareholders	4,753	4,839	4,621	4,483	4,402	4,283	4,179	4,176	4,090	4,008	4,031	4,135

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	58.37%	58.37%	58.37%	58.37%	58.37%	58.37%	61.28%	61.28%	61.28%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.39%
	41.63%	41.63%	41.63%	41.63%	41.63%	41.63%	38.72%	38.73%	38.34%
No. of Shareholders	5,001	4,386	4,085	3,933	3,914	4,667	4,483	4,176	4,135

* 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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Makers Laboratories Ltd

Makers Laboratories Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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