Emcure Pharmaceuticals Ltd
Incorporated in 1981, Emcure Pharmaceuticals
Ltd manufactures and markets pharmaceutical products globally[1]
- Market Cap ₹ 18,863 Cr.
- Current Price ₹ 996
- High / Low ₹ 1,580 / 942
- Stock P/E 88.1
- Book Value ₹ 149
- Dividend Yield 0.00 %
- ROCE 10.3 %
- ROE 8.60 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company has been maintaining a healthy dividend payout of 19.1%
Cons
- Stock is trading at 6.67 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 13.6% 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 BSE IPO Nifty Smallcap 250 Nifty 500 Multicap 50:25:25 Nifty Total Market 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 | TTM | |
|---|---|---|---|---|---|---|---|
| 2,454 | 2,376 | 3,107 | 3,387 | 3,107 | 3,498 | 4,006 | |
| 1,883 | 1,948 | 2,367 | 2,593 | 2,668 | 3,056 | 3,515 | |
| Operating Profit | 570 | 428 | 740 | 795 | 439 | 442 | 491 |
| OPM % | 23% | 18% | 24% | 23% | 14% | 13% | 12% |
| 56 | 89 | 90 | 133 | 119 | 129 | 139 | |
| Interest | 127 | 137 | 118 | 145 | 167 | 166 | 128 |
| Depreciation | 130 | 155 | 154 | 166 | 179 | 205 | 224 |
| Profit before tax | 370 | 225 | 558 | 616 | 212 | 200 | 277 |
| Tax % | 23% | 22% | 25% | 28% | 25% | 20% | |
| 284 | 175 | 420 | 447 | 160 | 161 | 207 | |
| EPS in Rs | 15.68 | 9.69 | 23.25 | 24.71 | 8.85 | 8.88 | 11.08 |
| Dividend Payout % | 16% | 26% | 4% | 12% | 23% | 23% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 7% |
| 3 Years: | 4% |
| TTM: | 13% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -12% |
| 3 Years: | -27% |
| TTM: | -1% |
| 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 | 1,773 | 1,595 | 824 | |
| 576 | 713 | 958 | 1,032 | 1,001 | 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 | 1,433 | 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 | 2,240 | 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 | 585 | |
| -276 | -169 | -836 | -394 | -271 | -173 | |
| -53 | -46 | 31 | -343 | -55 | -288 | |
| Net Cash Flow | 42 | 170 | -30 | -309 | 180 | 124 |
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 | 147 | 97 | 132 | 127 | 100 |
| ROCE % | 13% | 19% | 21% | 11% | 10% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
11 Feb - Emcure Pharmaceuticals announces Q3 FY25 earnings call transcript.
-
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
7 Feb - Disclosure of regulatory order received by subsidiary.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
7 Feb - Newspaper Publication of Unaudited Financial Results of the Company for the quarter and nine months ended December 31, 2024.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
6 Feb - Audio recording of Q3 FY25 earnings call available.
-
Announcement under Regulation 30 (LODR)-Code of Conduct under SEBI (PIT) Regulations, 2015
6 Feb - Disclosure of amended Code of Conduct for insider trading.
Concalls
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Feb 2025TranscriptPPTREC
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Nov 2024TranscriptPPT
-
Aug 2024TranscriptPPT
Business Overview:[1][2]
EPL develops, manufactures and markets a broad range of pharmaceutical and biopharmaceutical products across a wide range of dosage forms, including oral solids, oral liquids, injectables, including liposomal and lyophilized injectables, biotherapeutics and complex APIs, including chiral molecules, iron molecules and cytotoxic products. It has a presence in all major therapeutic areas including Gynaecology, cardiology, blood-related, oncology, respiratory, CNS & HIV etc. Company has 350+ brands, with a wide network across 70+ countries.