Ipca Laboratories Ltd

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

Ipca Laboratories Ltd

₹ 1,132 -0.32%
02 Jul - 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 ₹ 28,709 Cr.
  • Current Price ₹ 1,132
  • High / Low ₹ 1,375 / 743
  • Stock P/E 48.6
  • Book Value ₹ 250
  • Dividend Yield 0.35 %
  • ROCE 13.2 %
  • ROE 9.70 %
  • Face Value ₹ 1.00
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Pros

Cons

  • Stock is trading at 4.53 times its book value
  • Company has a low return on equity of 11.5% over last 3 years.
  • Dividend payout has been low at 14.1% of profits over last 3 years
  • Debtor days have increased from 65.1 to 79.9 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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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
1,114.66 1,565.79 1,544.43 1,430.47 1,289.10 1,585.74 1,600.95 1,546.00 1,511.63 1,585.21 2,033.96 2,052.86 2,033.01
885.75 1,151.68 1,184.18 1,122.66 1,069.77 1,316.51 1,341.24 1,330.14 1,330.59 1,277.59 1,712.69 1,721.98 1,711.11
Operating Profit 228.91 414.11 360.25 307.81 219.33 269.23 259.71 215.86 181.04 307.62 321.27 330.88 321.90
OPM % 20.54% 26.45% 23.33% 21.52% 17.01% 16.98% 16.22% 13.96% 11.98% 19.41% 15.80% 16.12% 15.83%
19.92 21.02 18.08 12.30 14.54 22.11 36.23 30.89 36.39 44.85 38.55 90.91 -117.80
Interest 1.70 1.82 1.06 1.43 3.38 6.94 9.31 10.84 18.45 31.38 44.12 33.40 29.37
Depreciation 52.50 55.87 56.96 58.65 60.94 61.71 63.74 66.57 69.54 69.27 90.34 99.50 98.13
Profit before tax 194.63 377.44 320.31 260.03 169.55 222.69 222.89 169.34 129.44 251.82 225.36 288.89 76.60
Tax % 15.89% 18.75% 21.20% 22.05% 16.96% 33.35% 34.55% 31.73% 37.37% 34.00% 39.01% 22.93% 96.20%
161.20 306.67 252.40 198.11 131.98 145.24 145.89 109.72 78.14 164.10 136.49 221.00 1.33
EPS in Rs 6.36 12.09 9.86 7.74 5.13 5.64 5.67 4.25 3.02 6.42 5.72 7.09 2.35
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
2,813 3,282 3,144 2,867 3,156 3,258 3,746 4,619 5,395 5,797 6,204 7,705
2,248 2,539 2,604 2,573 2,705 2,803 3,051 3,715 3,843 4,472 5,272 6,384
Operating Profit 565 743 541 294 451 455 695 904 1,552 1,325 932 1,321
OPM % 20% 23% 17% 10% 14% 14% 19% 20% 29% 23% 15% 17%
13 21 32 21 11 41 56 65 59 54 123 17
Interest 36 30 32 35 27 28 22 20 12 11 48 138
Depreciation 87 103 180 163 173 178 182 210 209 232 262 357
Profit before tax 454 631 361 117 262 291 546 739 1,389 1,136 745 843
Tax % 29% 24% 28% 18% 26% 18% 19% 18% 17% 20% 34% 37%
324 479 254 93 195 239 442 604 1,141 890 479 523
EPS in Rs 12.82 18.96 10.07 3.69 7.71 9.49 17.60 23.99 44.94 34.85 18.58 21.57
Dividend Payout % 16% 13% 5% 0% 6% 5% 9% 10% 9% 11% 22% 9%
Compounded Sales Growth
10 Years: 9%
5 Years: 16%
3 Years: 13%
TTM: 24%
Compounded Profit Growth
10 Years: 2%
5 Years: 6%
3 Years: -20%
TTM: 30%
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: 11%
Last Year: 10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 1,529 1,934 2,183 2,234 2,430 2,663 3,097 3,590 4,676 5,439 5,817 6,307
617 603 935 867 716 628 465 501 265 807 1,481 1,438
526 648 669 765 788 799 961 1,142 1,099 1,349 1,300 3,331
Total Liabilities 2,697 3,211 3,812 3,892 3,960 4,116 4,549 5,258 6,066 7,622 8,623 11,101
1,104 1,354 1,800 2,014 1,983 1,953 1,940 2,059 2,072 2,402 2,751 4,573
CWIP 129 165 267 129 95 73 66 133 235 306 140 324
Investments 9 9 16 26 136 87 120 310 505 989 626 862
1,455 1,683 1,729 1,723 1,746 2,003 2,422 2,756 3,254 3,924 5,105 5,343
Total Assets 2,697 3,211 3,812 3,892 3,960 4,116 4,549 5,258 6,066 7,622 8,623 11,101

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
389 522 468 709 282 341 501 570 1,090 856 806 945
-260 -369 -689 -218 -149 -135 -165 -509 -521 -851 -725 -1,292
-83 -136 251 -462 -159 -130 -183 -137 -306 427 507 -553
Net Cash Flow 46 18 29 29 -26 75 153 -76 264 432 588 -900

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 54 50 41 57 58 67 66 71 55 57 58 80
Inventory Days 247 272 293 289 290 286 316 294 337 337 276 350
Days Payable 89 110 97 145 130 137 154 135 140 101 83 110
Cash Conversion Cycle 212 213 237 200 218 216 228 229 251 293 251 320
Working Capital Days 112 98 106 84 94 107 109 113 119 127 119 175
ROCE % 24% 28% 14% 5% 9% 10% 16% 19% 31% 20% 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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