Wockhardt Ltd

₹ 687 4.99%

28 Jun - close price

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 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 #}

Website BSE NSE

Market Cap ₹ 10,533 Cr.
Current Price ₹ 687
High / Low ₹ 687 / 213
Stock P/E
Book Value ₹ 117
Dividend Yield 0.00 %
ROCE -4.44 %
ROE -23.0 %
Face Value ₹ 5.00

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Pros

Debtor days have improved from 237 to 179 days.
Company's working capital requirements have reduced from 155 days to 122 days

Cons

Stock is trading at 5.86 times its book value
Company has low interest coverage ratio.
Promoter holding has decreased over last quarter: -3.33%
The company has delivered a poor sales growth of -5.82% over past five years.
Company has a low return on equity of -13.8% over last 3 years.
Promoters have pledged 52.9% of their holding.
Earnings include an other income of Rs.27.0 Cr.
Company has high debtors of 179 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

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

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Detailed Comparison with:

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
	262	279	310	309	474	241	258	282	291	251	260	288	355
	286	262	301	294	288	236	247	256	321	256	270	263	401
Operating Profit	-24	17	9	15	186	5	11	26	-30	-5	-10	25	-46
OPM %	-9%	6%	3%	5%	39%	2%	4%	9%	-10%	-2%	-4%	9%	-13%
	8	3	4	3	22	49	-21	18	-156	-8	6	5	24
Interest	45	55	60	79	78	61	58	52	58	58	59	61	59
Depreciation	52	42	43	43	43	47	47	47	45	44	44	43	45
Profit before tax	-113	-78	-90	-104	87	-54	-115	-55	-289	-115	-107	-74	-126
Tax %	58%	37%	29%	36%	54%	31%	35%	0%	-3%	0%	0%	0%	0%
	-47	-49	-64	-67	40	-37	-75	-55	-299	-115	-107	-74	-126
EPS in Rs	-3.26	-3.38	-4.44	-4.65	2.78	-2.57	-5.21	-3.82	-20.75	-7.98	-7.43	-5.14	-8.21
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
	2,203	1,805	1,887	2,217	2,298	2,477	1,557	890	987	1,372	1,072	1,154
	2,168	1,780	1,879	2,091	2,153	2,154	1,619	1,023	1,125	1,150	1,002	1,190
Operating Profit	35	25	7	126	145	323	-62	-133	-138	222	70	-36
OPM %	2%	1%	0%	6%	6%	13%	-4%	-15%	-14%	16%	7%	-3%
	906	319	465	62	248	57	126	138	884	38	-168	27
Interest	154	34	19	108	169	170	171	220	200	273	229	237
Depreciation	81	96	103	99	106	106	120	173	184	171	186	176
Profit before tax	706	215	350	-20	119	104	-227	-389	362	-184	-513	-422
Tax %	12%	8%	5%	143%	-15%	34%	64%	41%	-64%	24%	9%	0%
	623	199	332	8	137	69	-82	-231	593	-140	-466	-422
EPS in Rs	43.70	13.92	23.19	0.58	9.54	4.77	-5.69	-16.05	41.18	-9.72	-32.34	-27.51
Dividend Payout %	9%	55%	66%	0%	81%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-4%
5 Years:	-6%
3 Years:	5%
TTM:	8%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	-77%

Stock Price CAGR
10 Years:	2%
5 Years:	15%
3 Years:	11%
1 Year:	192%

Return on Equity
10 Years:	1%
5 Years:	-3%
3 Years:	-14%
Last Year:	-23%

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	55	55	55	55	55	55	55	55	55	72	72	77
Reserves	763	882	1,016	1,113	1,164	1,239	1,171	939	1,551	2,140	1,681	1,719
Preference Capital	299	299	299	0	0	0	234	0	0	0	0	0
	174	184	840	1,984	2,120	1,773	1,651	2,370	2,078	2,024	2,013	2,136
	2,175	2,271	2,238	1,431	1,230	1,318	1,660	1,395	1,211	1,562	966	936
Total Liabilities	3,167	3,391	4,149	4,584	4,569	4,386	4,538	4,760	4,895	5,798	4,732	4,868
	937	1,033	1,005	1,402	1,465	1,423	1,614	2,044	1,684	1,828	1,625	1,449
CWIP	482	582	792	664	665	653	381	305	716	825	823	833
Investments	308	308	297	297	297	297	297	297	297	297	297	297
	1,441	1,469	2,054	2,221	2,142	2,013	2,245	2,113	2,198	2,848	1,987	2,289
Total Assets	3,167	3,391	4,149	4,584	4,569	4,386	4,538	4,760	4,895	5,798	4,732	4,868

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
	1,429	131	-53	-363	-235	119	58	222	-563	-93	71	188
	482	-25	203	-1,015	369	451	120	-16	1,014	-244	-3	-75
	-1,841	-188	425	764	-133	-524	-69	-274	-480	430	-236	346
Net Cash Flow	70	-81	575	-614	1	46	109	-69	-29	93	-168	459

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	34	50	41	45	54	118	236	385	353	344	188	179
Inventory Days	186	221	240	216	206	141	195	367	305	297	330	254
Days Payable	165	151	158	134	133	167	325	611	355	446	507	459
Cash Conversion Cycle	55	120	123	126	127	92	105	141	303	194	11	-26
Working Capital Days	-136	-56	-171	73	33	9	79	39	193	173	170	122
ROCE %	34%	18%	20%	3%	9%	9%	-2%	-5%	-8%	2%	-1%	-4%

Shareholding Pattern

Numbers in percentages

1 Recently

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	69.68%	68.04%	67.13%	67.13%	65.75%	63.83%	60.36%	59.31%	58.40%	55.14%	54.93%	51.60%
	2.74%	2.88%	2.95%	2.89%	2.82%	2.98%	2.87%	2.78%	2.60%	3.03%	4.18%	5.49%
	0.08%	0.05%	0.09%	0.09%	0.09%	0.15%	0.22%	0.22%	0.18%	0.21%	0.30%	4.82%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%
	27.50%	29.02%	29.83%	29.89%	31.34%	33.04%	36.55%	37.70%	38.83%	41.62%	40.59%	38.06%
No. of Shareholders	1,44,845	1,61,625	1,65,270	1,72,460	1,80,170	1,80,633	1,84,908	1,82,493	1,78,915	1,72,989	1,61,813	1,46,138

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	74.25%	74.11%	74.07%	72.13%	72.12%	67.13%	59.31%	51.60%
	4.55%	5.45%	4.74%	4.85%	3.10%	2.89%	2.78%	5.49%
	2.71%	4.99%	2.55%	0.24%	0.09%	0.09%	0.22%	4.82%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%
	18.49%	15.45%	18.64%	22.78%	24.69%	29.89%	37.70%	38.06%
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

* 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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Wockhardt Ltd

Wockhardt Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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