Medicamen Biotech Ltd

₹ 447 3.56%

22 Nov - close price

medicamen.com BSE: 531146 NSE: MEDICAMEQ

About

Incorporated in 1993, Medicamen Biotech Ltd is a research-led pharmaceutical company involved in developing, manufacturing, and marketing generic finished dosage formulations, and Oncology Formulations^[1]

Key Points

Business Overview:^[1]^[2]^[3]
MBL, a subsidiary of Shivalik Rasayan Ltd with 41.6% ownership, is an integrated Pharmaceutical and Life Sciences Solution Provider. They manufacture pharmaceutical formulations, primarily focusing on oncology therapeutics and generics, distributed through wholesale drug distributors and sold to institutional segments such as government and semi-government institutions, and hospitals. Their formulations cover beta-lactam, non-beta-lactam, and cephalosporin drugs for overseas and domestic markets.

Website BSE NSE

Market Cap ₹ 568 Cr.
Current Price ₹ 447
High / Low ₹ 655 / 355
Stock P/E 98.3
Book Value ₹ 170
Dividend Yield 0.22 %
ROCE 8.20 %
ROE 4.74 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is almost debt free.
Debtor days have improved from 160 to 112 days.

Cons

Stock is trading at 2.63 times its book value
Company has a low return on equity of 7.67% over last 3 years.
Dividend payout has been low at 9.45% 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 - Formulations

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	32.52	32.64	22.75	33.09	33.53	35.58	38.67	41.94	43.54	46.50	47.32	43.05	44.74
	26.30	26.34	17.79	27.43	27.67	29.71	32.18	34.99	38.89	41.60	41.57	39.60	39.43
Operating Profit	6.22	6.30	4.96	5.66	5.86	5.87	6.49	6.95	4.65	4.90	5.75	3.45	5.31
OPM %	19.13%	19.30%	21.80%	17.10%	17.48%	16.50%	16.78%	16.57%	10.68%	10.54%	12.15%	8.01%	11.87%
	0.48	0.83	0.34	0.96	0.52	0.63	0.35	0.38	0.55	0.83	0.57	0.59	0.29
Interest	0.30	0.49	0.56	0.77	0.62	0.68	0.86	0.96	0.91	0.65	1.89	0.71	1.04
Depreciation	1.35	1.57	1.52	1.53	1.62	1.60	1.62	1.69	1.82	1.80	1.77	1.77	2.61
Profit before tax	5.05	5.07	3.22	4.32	4.14	4.22	4.36	4.68	2.47	3.28	2.66	1.56	1.95
Tax %	16.44%	25.64%	14.60%	17.13%	13.04%	10.66%	13.53%	15.81%	39.68%	38.11%	22.93%	48.72%	53.85%
	4.22	3.78	2.75	3.59	3.60	3.77	3.77	3.95	1.47	2.03	2.04	0.80	0.91
EPS in Rs	3.45	3.09	2.25	2.94	2.85	2.97	3.07	3.30	1.19	1.90	1.68	1.06	1.15
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	123	125	113	115	141	179	182
	105	106	93	91	117	156	162
Operating Profit	17	20	20	24	24	24	19
OPM %	14%	16%	17%	21%	17%	13%	11%
	4	2	1	2	2	2	2
Interest	1	1	2	2	3	6	4
Depreciation	2	2	3	6	6	7	8
Profit before tax	18	18	16	18	17	13	9
Tax %	31%	26%	26%	18%	14%	27%
	12	13	12	15	15	9	6
EPS in Rs	10.28	10.88	9.93	12.20	11.73	8.60	5.79
Dividend Payout %	10%	5%	10%	8%	9%	12%

Compounded Sales Growth
10 Years:	%
5 Years:	8%
3 Years:	17%
TTM:	14%

Compounded Profit Growth
10 Years:	%
5 Years:	-5%
3 Years:	-8%
TTM:	-55%

Stock Price CAGR
10 Years:	41%
5 Years:	7%
3 Years:	-9%
1 Year:	-30%

Return on Equity
10 Years:	%
5 Years:	9%
3 Years:	8%
Last Year:	5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	12	12	12	12	13	13	13
Reserves	75	109	121	134	181	194	203
	12	11	19	26	26	31	20
	38	49	42	53	59	56	52
Total Liabilities	137	181	194	226	279	295	289
	24	34	90	92	93	92	89
CWIP	15	40	0	0	0	0	0
Investments	0	0	0	0	0	0	0
	97	107	104	133	186	203	200
Total Assets	137	181	194	226	279	295	289

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	4	13	13	4	-6	-7
	-15	-37	-18	-8	-6	-6
	-4	19	6	4	29	6
Net Cash Flow	-14	-5	1	-0	17	-6

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	129	145	170	200	169	112
Inventory Days	67	78	27	188	228	234
Days Payable	134	173	169	302	241	154
Cash Conversion Cycle	62	51	28	86	156	193
Working Capital Days	151	152	161	208	216	183
ROCE %		16%	13%	12%	10%	8%

Shareholding Pattern

Numbers in percentages

2 Recently

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	43.60%	43.60%	43.60%	43.21%	43.21%	43.21%	43.21%	43.21%	43.21%	43.21%	42.99%	42.99%
	0.35%	0.40%	0.35%	1.83%	0.17%	0.19%	0.16%	0.22%	0.22%	0.12%	0.06%	0.06%
	0.00%	0.00%	0.00%	0.13%	0.20%	0.20%	0.20%	0.20%	0.67%	0.99%	1.17%	1.17%
	56.06%	56.01%	56.06%	54.84%	56.42%	56.40%	56.44%	56.38%	55.90%	55.69%	55.78%	55.79%
No. of Shareholders	9,140	9,300	9,107	8,332	8,273	8,233	8,272	9,419	10,252	10,639	10,652	10,792

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	45.51%	45.37%	44.53%	44.77%	44.83%	43.60%	43.21%	43.21%	42.99%
	0.14%	0.49%	0.49%	0.47%	0.44%	0.40%	0.19%	0.12%	0.06%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.20%	0.99%	1.17%
	54.35%	54.14%	54.99%	54.76%	54.73%	56.01%	56.40%	55.69%	55.79%
No. of Shareholders	4,095	4,802	4,684	4,542	4,965	9,300	8,233	10,639	10,792

* 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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Nov 2024

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Dec 2021

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Nov 2020

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Aug 2020

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Jun 2020

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