Windlas Biotech Ltd
Windlas Biotech Ltd is a leading domestic pharmaceutical formulations contract development and manufacturing organization (CDMO). The company manufactures both solid and liquid pharmaceutical dosage forms and provides a comprehensive range of CDMO services ranging from product discovery, product development, and commercial manufacturing of generic products, including complex generics.[1]
- Market Cap ₹ 1,526 Cr.
- Current Price ₹ 730
- High / Low ₹ 794 / 292
- Stock P/E 26.2
- Book Value ₹ 216
- Dividend Yield 0.54 %
- ROCE 18.1 %
- ROE 13.6 %
- Face Value ₹ 5.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 21.3% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 19.7%
Cons
- Company has a low return on equity of 12.4% 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 - Formulations
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|
274 | 315 | 320 | 288 | 329 | 428 | 466 | 513 | 631 | |
253 | 290 | 284 | 244 | 288 | 373 | 413 | 453 | 553 | |
Operating Profit | 20 | 25 | 36 | 44 | 41 | 55 | 53 | 60 | 78 |
OPM % | 7% | 8% | 11% | 15% | 12% | 13% | 11% | 12% | 12% |
1 | 4 | 5 | 2 | 1 | -29 | 7 | 10 | 13 | |
Interest | 7 | 5 | 5 | 4 | 2 | 1 | 1 | 1 | 1 |
Depreciation | 9 | 9 | 11 | 8 | 9 | 13 | 12 | 12 | 13 |
Profit before tax | 6 | 14 | 25 | 35 | 31 | 11 | 46 | 57 | 77 |
Tax % | 20% | 35% | 33% | 36% | 27% | 55% | 16% | 25% | 25% |
5 | 9 | 17 | 22 | 22 | 5 | 39 | 43 | 58 | |
EPS in Rs | 8.14 | 16.41 | 30.24 | 35.05 | 35.03 | 7.81 | 17.69 | 20.05 | 27.95 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 20% | 20% | 20% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 17% |
3 Years: | 14% |
TTM: | 23% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 21% |
3 Years: | 44% |
TTM: | 38% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | 146% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 12% |
3 Years: | 12% |
Last Year: | 14% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|
Equity Capital | 6 | 6 | 6 | 6 | 6 | 6 | 11 | 10 | 10 |
Reserves | 132 | 141 | 158 | 188 | 210 | 193 | 384 | 392 | 440 |
Preference Capital | 3 | 3 | 3 | 0 | 0 | 0 | 0 | 0 | |
50 | 60 | 40 | 30 | 27 | 32 | 7 | 5 | 4 | |
93 | 97 | 95 | 73 | 100 | 65 | 89 | 121 | 172 | |
Total Liabilities | 281 | 304 | 299 | 297 | 344 | 296 | 491 | 529 | 626 |
56 | 56 | 58 | 62 | 68 | 96 | 91 | 109 | 179 | |
CWIP | 9 | 15 | 11 | 5 | 0 | 0 | 8 | 15 | 6 |
Investments | 95 | 121 | 123 | 121 | 121 | 23 | 65 | 107 | 173 |
121 | 111 | 107 | 110 | 154 | 177 | 327 | 298 | 268 | |
Total Assets | 281 | 304 | 299 | 297 | 344 | 296 | 491 | 529 | 626 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|
47 | 7 | 39 | 22 | 21 | 11 | 9 | 61 | 109 | |
-62 | -39 | -11 | -7 | -9 | -20 | -154 | -14 | -92 | |
38 | 5 | -25 | -8 | -6 | 1 | 130 | -44 | -15 | |
Net Cash Flow | 24 | -27 | 4 | 7 | 5 | -8 | -15 | 3 | 2 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|
Debtor Days | 74 | 70 | 68 | 79 | 72 | 68 | 87 | 83 | 79 |
Inventory Days | 49 | 62 | 44 | 38 | 85 | 55 | 71 | 84 | 57 |
Days Payable | 137 | 120 | 124 | 117 | 143 | 53 | 76 | 98 | 121 |
Cash Conversion Cycle | -14 | 13 | -12 | 0 | 13 | 70 | 82 | 69 | 15 |
Working Capital Days | -14 | 2 | 2 | 10 | 27 | 66 | 91 | 73 | 133 |
ROCE % | 10% | 13% | 18% | 14% | 19% | 15% | 14% |
Documents
Announcements
- Shareholder Meeting / Postal Ballot-Notice of Postal Ballot 56m
- Closure of Trading Window 27 Jun
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
25 Jun - Of Schedule of Analyst / Institutional Investor meetings under the SEBI (LODR), Regulations 2015.
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Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
10 Jun - Allotment of equity shares pursuant to "Windlas Biotech Limited - Employee Stock Option Plan 2021"
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
29 May - Of Schedule of Analyst / Institutional Investor meetings under the SEBI (LODR), Regulations, 2015
Annual reports
Concalls
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May 2024Transcript PPT REC
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Feb 2024Transcript PPT REC
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Nov 2023Transcript PPT
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Aug 2023Transcript PPT
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May 2023Transcript PPT
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Feb 2023Transcript PPT
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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May 2022Transcript PPT
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Feb 2022Transcript PPT
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Nov 2021Transcript PPT
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Sep 2021Transcript PPT
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Sep 2021TranscriptNotesPPT
Market Position
Windlas Biotech is amongst the top five players in the domestic pharmaceutical formulations, contract development, and manufacturing organization (CDMO) industry in India, in terms of revenues. The company offers a range of CDMO services from product discovery to product development, licensing, and commercial manufacturing of generic products including complex generics. [1]