Wockhardt Ltd

₹ 838 -0.49%

03 Jul 9:48 a.m.

wockhardt.com BSE: 532300 NSE: WOCKPHARMA

About

Wockhardt is a global pharmaceutical and biotechnology organization engaged in manufacturing finished dosage formulations, injectables, biopharmaceuticals, orals and topicals (creams and ointments). ^[1]

Key Points

Market Position
The Co. is amongst top 3 Indian generic companies in the UK and 6th Largest generic supplier in Ireland in Retail and Hospital channels.
Its Wepox is the leader in Erythropoetin market (market share =21%)and Methylcobalamin Brand is no. 1 with (Methycobal= 26.7% market share) {#https://www.bseindia.com/bseplus/AnnualReport/532300/73832532300.pdf#page=34 #}

Website BSE NSE

Market Cap ₹ 12,855 Cr.
Current Price ₹ 838
High / Low ₹ 898 / 213
Stock P/E
Book Value ₹ 219
Dividend Yield 0.00 %
ROCE -0.83 %
ROE -12.1 %
Face Value ₹ 5.00

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Pros

Company's working capital requirements have reduced from 45.3 days to 20.7 days

Cons

Stock is trading at 3.85 times its book value
Company has low interest coverage ratio.
Promoter holding has decreased over last quarter: -3.33%
The company has delivered a poor sales growth of -4.73% over past five years.
Company has a low return on equity of -7.58% over last 3 years.
Promoters have pledged 52.9% of their holding.

* 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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Detailed Comparison with:

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
	632	860	862	854	655	595	679	699	678	644	753	701	700
	698	739	765	742	688	611	636	654	675	628	681	664	803
Operating Profit	-66	121	97	112	-33	-16	43	45	3	16	72	37	-103
OPM %	-10%	14%	11%	13%	-5%	-3%	6%	6%	0%	2%	10%	5%	-15%
	8	2	4	2	-169	57	-138	-1	-64	0	24	8	54
Interest	55	64	69	80	86	73	70	83	76	79	76	77	73
Depreciation	65	64	61	62	59	64	65	66	56	55	55	55	58
Profit before tax	-178	-6	-29	-28	-347	-96	-230	-105	-193	-118	-35	-87	-180
Tax %	40%	-10%	228%	107%	10%	22%	10%	3%	-23%	-15%	-109%	1%	2%
	-107	-7	37	2	-311	-75	-207	-102	-237	-136	-73	-86	-177
EPS in Rs	-6.46	-0.88	2.36	-0.49	-17.91	-4.65	-13.12	-6.66	-14.44	-9.30	-5.34	-5.76	-11.02
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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
	5,609	4,830	4,482	4,453	4,015	3,937	3,566	2,844	2,708	3,230	2,651	2,798
	3,606	3,805	3,772	3,959	4,002	3,935	3,604	2,725	2,771	2,932	2,549	2,707
Operating Profit	2,004	1,026	709	494	13	2	-38	119	-63	298	102	91
OPM %	36%	21%	16%	11%	0%	0%	-1%	4%	-2%	9%	4%	3%
	187	88	67	66	114	-238	116	133	975	-163	-173	17
Interest	215	83	55	129	225	255	265	276	249	299	302	305
Depreciation	122	140	145	142	149	150	164	224	246	247	251	223
Profit before tax	1,853	891	575	289	-247	-641	-351	-247	417	-411	-624	-420
Tax %	14%	5%	28%	13%	9%	-4%	38%	82%	-65%	32%	0%	-12%
	1,594	843	413	252	-226	-667	-217	-43	688	-279	-621	-472
EPS in Rs	111.87	58.91	28.30	17.45	-13.62	-42.30	-13.52	-4.81	47.64	-16.94	-38.80	-30.18
Dividend Payout %	3%	13%	54%	0%	-56%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-5%
5 Years:	-5%
3 Years:	1%
TTM:	6%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	-36%

Stock Price CAGR
10 Years:	4%
5 Years:	20%
3 Years:	20%
1 Year:	249%

Return on Equity
10 Years:	-1%
5 Years:	0%
3 Years:	-8%
Last Year:	-12%

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	55	55	55	55	55	55	55	55	55	72	72	77
Reserves	2,351	3,228	3,362	3,720	3,281	2,797	2,619	2,616	3,321	3,777	3,282	3,282
Preference Capital	299	299	299	0	0	0	234	0	0	0	0	0
	2,070	1,906	2,010	2,677	4,160	3,748	3,141	3,582	2,674	2,198	2,184	2,356
	1,547	1,433	1,512	1,622	1,486	1,528	1,998	1,894	1,696	2,168	2,113	1,899
Total Liabilities	6,023	6,622	6,939	8,074	8,982	8,128	7,813	8,148	7,746	8,215	7,651	7,614
	1,990	2,295	2,123	2,809	2,773	2,888	3,058	3,502	3,343	3,462	3,042	2,881
CWIP	491	708	1,007	1,036	1,244	1,433	1,445	1,585	1,379	1,342	1,539	1,722
Investments	3	577	341	0	563	214	0	0	0	0	0	0
	3,539	3,043	3,468	4,228	4,403	3,593	3,309	3,060	3,024	3,411	3,070	3,011
Total Assets	6,023	6,622	6,939	8,074	8,982	8,128	7,813	8,148	7,746	8,215	7,651	7,614

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
	1,532	1,476	355	-42	-269	68	183	649	-287	413	153	219
	1,074	-823	-222	-105	-684	635	93	-147	1,471	-204	-118	-138
	-2,246	-601	-76	193	1,254	-769	-776	-680	-1,171	-71	-315	334
Net Cash Flow	360	52	57	46	301	-66	-500	-178	13	138	-280	415

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	62	36	60	91	94	89	130	159	124	104	110	81
Inventory Days	221	201	250	249	243	174	183	209	256	222	216	201
Days Payable	132	113	136	144	117	122	187	272	223	265	285	240
Cash Conversion Cycle	151	124	175	196	220	141	126	97	157	60	41	41
Working Capital Days	42	9	43	97	96	-16	7	-47	122	62	53	21
ROCE %	42%	18%	10%	7%	-1%	-1%	-1%	0%	12%	1%	-0%	-1%

Shareholding Pattern

Numbers in percentages

1 Recently

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	69.68%	68.04%	67.13%	67.13%	65.75%	63.83%	60.36%	59.31%	58.40%	55.14%	54.93%	51.60%
	2.74%	2.88%	2.95%	2.89%	2.82%	2.98%	2.87%	2.78%	2.60%	3.03%	4.18%	5.49%
	0.08%	0.05%	0.09%	0.09%	0.09%	0.15%	0.22%	0.22%	0.18%	0.21%	0.30%	4.82%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%
	27.50%	29.02%	29.83%	29.89%	31.34%	33.04%	36.55%	37.70%	38.83%	41.62%	40.59%	38.06%
No. of Shareholders	1,44,845	1,61,625	1,65,270	1,72,460	1,80,170	1,80,633	1,84,908	1,82,493	1,78,915	1,72,989	1,61,813	1,46,138

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	74.25%	74.11%	74.07%	72.13%	72.12%	67.13%	59.31%	51.60%
	4.55%	5.45%	4.74%	4.85%	3.10%	2.89%	2.78%	5.49%
	2.71%	4.99%	2.55%	0.24%	0.09%	0.09%	0.22%	4.82%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%
	18.49%	15.45%	18.64%	22.78%	24.69%	29.89%	37.70%	38.06%
No. of Shareholders	1,24,403	99,736	1,14,338	1,17,324	1,25,488	1,72,460	1,82,493	1,46,138

* 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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Wockhardt Ltd

Wockhardt Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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