Ipca Laboratories Ltd

Ipca Labs. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Ipca Laboratories Ltd

₹ 1,130 3.82%
28 Jun - close price
ipca.com BSE: 524494 NSE: IPCALAB
About

Ipca Laboratories is engaged in the manufacturing and marketing of pharmaceuticals.(Source : 201903 Annual Report Page No: 68)

Key Points

Integrated nature of operations
Ipca Laboratories is a fully-integrated pharmaceutical company that manufactures over 350 formulations and 80 APIs for various therapeutic segments. [1]
IPCA is among India’s top 20 pharmaceutical companies. [2]

Business segments FY22:
API Business (25%) [3]
Ipca produces over 80 APIs, nearly 79% of the APIs and Intermediates business is from exports making them one of India’s top exporters of APIs, serving over 100 countries around the globe. The core strategic focus has been on backward integration, resulting in superior supply chain reliability and cost competitiveness [4] [1] [5]

Website BSE NSE
  • Market Cap ₹ 28,661 Cr.
  • Current Price ₹ 1,130
  • High / Low ₹ 1,375 / 738
  • Stock P/E 46.5
  • Book Value ₹ 250
  • Dividend Yield 0.35 %
  • ROCE 14.5 %
  • ROE 10.1 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.

Cons

  • Stock is trading at 4.51 times its book value
  • The company has delivered a poor sales growth of 11.3% over past five years.
  • Company has a low return on equity of 11.6% over last 3 years.
  • Dividend payout has been low at 13.8% of profits over last 3 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.

Peer comparison

Sector: Pharmaceuticals Industry: Pharmaceuticals - Indian - Bulk Drugs & Formln

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

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
1,041 1,479 1,424 1,328 1,178 1,478 1,495 1,440 1,402 1,486 1,663 1,507 1,511
824 1,085 1,065 1,017 996 1,223 1,224 1,229 1,226 1,189 1,354 1,234 1,218
Operating Profit 217 394 359 312 182 255 270 211 176 298 309 273 292
OPM % 21% 27% 25% 23% 15% 17% 18% 15% 13% 20% 19% 18% 19%
20 14 15 13 13 18 36 24 33 43 36 17 -79
Interest 2 1 1 1 3 7 9 10 18 31 39 27 24
Depreciation 49 50 50 51 54 55 56 58 59 60 61 63 62
Profit before tax 186 356 322 272 137 211 240 166 132 250 245 200 127
Tax % 18% 20% 20% 20% 20% 34% 31% 31% 36% 33% 34% 32% 49%
151 285 258 218 110 140 166 115 85 167 162 137 65
EPS in Rs 5.97 11.22 10.16 8.60 4.34 5.52 6.53 4.54 3.34 6.57 6.39 5.40 2.55
Raw PDF

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
2,778 3,235 3,088 2,804 3,102 3,193 3,606 4,338 5,114 5,405 5,775 6,166
2,216 2,498 2,556 2,526 2,666 2,748 2,909 3,419 3,596 4,164 4,860 4,955
Operating Profit 562 737 532 277 436 446 697 918 1,518 1,241 914 1,211
OPM % 20% 23% 17% 10% 14% 14% 19% 21% 30% 23% 16% 20%
17 21 32 26 19 39 54 64 61 53 111 -22
Interest 34 28 29 31 26 27 21 19 11 10 46 121
Depreciation 84 101 177 161 171 174 172 179 188 210 229 246
Profit before tax 461 629 358 111 258 283 557 785 1,380 1,074 750 822
Tax % 28% 24% 28% 17% 27% 18% 18% 17% 17% 20% 33% 35%
331 477 256 93 188 233 455 652 1,141 860 506 530
EPS in Rs 13.13 18.91 10.15 3.67 7.46 9.24 18.00 25.82 44.97 33.91 19.93 20.91
Dividend Payout % 15% 13% 5% 0% 7% 5% 8% 10% 9% 12% 20% 10%
Compounded Sales Growth
10 Years: 7%
5 Years: 11%
3 Years: 6%
TTM: 7%
Compounded Profit Growth
10 Years: 3%
5 Years: 7%
3 Years: -18%
TTM: 27%
Stock Price CAGR
10 Years: 10%
5 Years: 19%
3 Years: 4%
1 Year: 52%
Return on Equity
10 Years: 13%
5 Years: 15%
3 Years: 12%
Last Year: 10%

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
Equity Capital 25 25 25 25 25 25 25 25 25 25 25 25
Reserves 1,545 1,956 2,208 2,258 2,450 2,670 3,111 3,640 4,727 5,450 5,852 6,323
617 595 929 865 716 628 444 474 236 776 1,440 1,152
522 641 662 756 777 785 877 1,045 1,021 1,186 1,129 1,159
Total Liabilities 2,709 3,217 3,824 3,905 3,968 4,108 4,458 5,185 6,010 7,438 8,447 8,659
1,075 1,306 1,753 1,977 1,946 1,855 1,740 1,841 1,869 2,153 2,479 2,533
CWIP 129 165 267 129 95 73 66 84 182 297 123 166
Investments 22 29 82 97 212 216 322 649 868 1,339 1,057 2,654
1,482 1,717 1,722 1,702 1,716 1,964 2,329 2,611 3,092 3,650 4,789 3,306
Total Assets 2,709 3,217 3,824 3,905 3,968 4,108 4,458 5,185 6,010 7,438 8,447 8,659

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
387 515 455 696 271 324 496 561 1,096 832 762 831
-261 -362 -686 -214 -146 -119 -123 -499 -560 -812 -710 -1,355
-81 -138 255 -414 -156 -130 -223 -139 -307 426 506 -465
Net Cash Flow 45 14 25 68 -31 74 150 -76 229 446 559 -990

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 55 51 42 57 59 68 64 71 55 56 59 61
Inventory Days 245 271 293 290 288 286 332 312 350 364 293 309
Days Payable 89 109 97 145 128 136 146 133 121 101 80 78
Cash Conversion Cycle 211 213 238 203 219 218 250 250 284 319 272 292
Working Capital Days 113 98 107 86 95 109 113 117 123 130 123 146
ROCE % 24% 27% 13% 4% 9% 9% 17% 20% 30% 19% 11%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
46.29% 46.29% 46.29% 46.29% 46.29% 46.29% 46.29% 46.29% 46.29% 46.29% 46.29% 46.30%
17.81% 18.46% 12.34% 11.02% 10.61% 10.57% 10.46% 10.58% 10.05% 9.86% 10.27% 10.51%
25.12% 25.24% 30.02% 32.70% 33.49% 33.46% 33.71% 33.74% 34.86% 34.72% 34.19% 34.05%
0.22% 0.22% 0.24% 0.24% 0.24% 0.32% 0.32% 0.32% 0.32% 0.32% 0.32% 0.32%
10.57% 9.80% 11.11% 9.75% 9.37% 9.34% 9.22% 9.06% 8.46% 8.80% 8.93% 8.82%
No. of Shareholders 1,05,42895,2391,06,7791,15,3351,10,8181,11,0431,08,1771,10,29699,88995,93082,80981,165

* 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

Announcements

Annual reports

Credit ratings

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