Emcure Pharmaceuticals Ltd
Incorporated in 1981, Emcure Pharmaceuticals Limited is an Indian company that develops, manufactures, and markets a wide range of pharmaceutical products globally across several major therapeutic areas.[1]
- Market Cap ₹ 24,276 Cr.
- Current Price ₹ 1,284
- High / Low ₹ 1,580 / 1,225
- Stock P/E 144
- Book Value ₹ 150
- Dividend Yield 0.00 %
- ROCE 10.7 %
- ROE 8.91 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
Cons
- Stock is trading at 8.58 times its book value
- The company has delivered a poor sales growth of 7.35% over past five years.
- Company has a low return on equity of 13.8% over last 3 years.
- Dividend payout has been low at 11.6% of profits over last 3 years
- Company's cost of borrowing seems high
* 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
Part of Nifty Smallcap 250 BSE IPO Nifty 500 Nifty 500 Multicap 50:25:25 Nifty MidSmallcap 400
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| 2,454 | 2,376 | 3,107 | 3,387 | 3,107 | 3,498 | |
| 1,883 | 1,948 | 2,367 | 2,593 | 2,668 | 3,056 | |
| Operating Profit | 570 | 428 | 740 | 795 | 439 | 442 |
| OPM % | 23% | 18% | 24% | 23% | 14% | 13% |
| 56 | 89 | 90 | 133 | 119 | 129 | |
| Interest | 127 | 137 | 118 | 145 | 167 | 166 |
| Depreciation | 130 | 155 | 154 | 166 | 179 | 205 |
| Profit before tax | 370 | 225 | 558 | 616 | 212 | 200 |
| Tax % | 23% | 22% | 25% | 28% | 25% | 20% |
| 284 | 175 | 420 | 447 | 160 | 161 | |
| EPS in Rs | 15.68 | 9.69 | 23.25 | 24.71 | 8.85 | 8.88 |
| Dividend Payout % | 16% | 0% | 4% | 12% | 23% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 7% |
| 3 Years: | 4% |
| TTM: | 13% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -12% |
| 3 Years: | -26% |
| TTM: | 2% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 15% |
| 3 Years: | 14% |
| Last Year: | 9% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 181 | 181 | 181 | 181 | 181 | 181 | 189 |
| Reserves | 1,597 | 1,734 | 2,121 | 1,532 | 1,661 | 1,754 | 2,639 |
| 1,224 | 1,243 | 1,603 | 1,579 | 1,668 | 1,595 | 824 | |
| 576 | 713 | 958 | 1,032 | 1,106 | 1,226 | 1,488 | |
| Total Liabilities | 3,578 | 3,871 | 4,863 | 4,323 | 4,616 | 4,757 | 5,140 |
| 1,100 | 1,166 | 1,147 | 1,151 | 1,268 | 1,718 | 1,670 | |
| CWIP | 406 | 326 | 192 | 239 | 253 | 106 | 150 |
| Investments | 311 | 408 | 864 | 563 | 690 | 684 | 684 |
| 1,761 | 1,971 | 2,660 | 2,369 | 2,405 | 2,248 | 2,636 | |
| Total Assets | 3,578 | 3,871 | 4,863 | 4,323 | 4,616 | 4,757 | 5,140 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| 371 | 385 | 775 | 428 | 505 | ||
| -276 | -169 | -836 | -394 | -271 | ||
| -53 | -46 | 31 | -343 | -55 | ||
| Net Cash Flow | 42 | 170 | -30 | -309 | 180 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|
| Debtor Days | 135 | 175 | 117 | 109 | 124 | 115 |
| Inventory Days | 243 | 200 | 183 | 202 | 214 | 206 |
| Days Payable | 159 | 197 | 169 | 166 | 203 | 220 |
| Cash Conversion Cycle | 220 | 177 | 131 | 144 | 135 | 101 |
| Working Capital Days | 131 | 146 | 97 | 132 | 128 | 100 |
| ROCE % | 13% | 19% | 21% | 11% | 11% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
13 Nov - Dated October 29, 2024, please find enclosed the transcript of the Earnings Call for the Q2 FY25, held on Thursday, November 07, 2024, at 6.30 …
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
8 Nov - Audio recording of Q2 FY25 earnings call available.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
8 Nov - Newspaper Publication of Unaudited Financial Results of the Company for the quarter and half-year ended September 30, 2024.
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Statement Of Deviation(S) Or Variation(S) Of Funds Under Regulation 32 Of The SEBI (LODR) Regulations, 2015, For The Quarter Ended September 30, 2024
7 Nov - Statement confirming no deviation in IPO fund utilization.
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Announcement under Regulation 30 (LODR)-Monitoring Agency Report
7 Nov - Monitoring Agency Report for Emcure's IPO proceeds.
Concalls
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Nov 2024TranscriptPPT
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Aug 2024TranscriptPPT
Market Leadership[1] Emcure was ranked 13th in domestic sales and ranked fourth in its covered markets for FY24. It was the largest pharmaceutical company in the gynecology and HIV antivirals therapeutic areas in terms of domestic sales for MAT FY2024.