Medicamen Biotech Ltd

₹ 566 -0.99%

13 Dec - 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 ₹ 715 Cr.
Current Price ₹ 566
High / Low ₹ 630 / 355
Stock P/E 68.7
Book Value ₹ 173
Dividend Yield 0.18 %
ROCE 9.83 %
ROE 6.60 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is almost debt free.
Debtor days have improved from 152 to 102 days.

Cons

Stock is trading at 3.26 times its book value
Company has a low return on equity of 8.41% over last 3 years.
Dividend payout has been low at 8.73% 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

Standalone Figures in Rs. Crores / View Consolidated

	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	34.12	37.15	40.50	42.67	44.20	45.01	41.48	42.84
	26.30	26.34	17.78	27.43	27.67	28.26	30.38	33.09	36.51	38.61	38.18	36.62	36.29
Operating Profit	6.22	6.30	4.97	5.66	5.86	5.86	6.77	7.41	6.16	5.59	6.83	4.86	6.55
OPM %	19.13%	19.30%	21.85%	17.10%	17.48%	17.17%	18.22%	18.30%	14.44%	12.65%	15.17%	11.72%	15.29%
	0.48	0.83	0.34	0.96	0.52	0.63	0.35	0.38	0.55	0.83	0.54	0.58	0.29
Interest	0.30	0.49	0.56	0.77	0.62	0.68	0.86	0.96	0.91	0.65	1.87	0.68	1.01
Depreciation	1.35	1.57	1.52	1.53	1.62	1.60	1.61	1.68	1.80	1.76	1.77	1.74	2.57
Profit before tax	5.05	5.07	3.23	4.32	4.14	4.21	4.65	5.15	4.00	4.01	3.73	3.02	3.26
Tax %	16.44%	25.64%	14.55%	17.13%	13.04%	10.69%	13.12%	14.37%	24.75%	31.17%	16.62%	25.17%	30.06%
	4.22	3.78	2.75	3.59	3.61	3.76	4.05	4.42	3.01	2.77	3.10	2.26	2.27
EPS in Rs	3.45	3.09	2.25	2.94	2.85	2.97	3.20	3.49	2.38	2.19	2.44	1.78	1.79
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	64	73	78	67	82	112	123	117	110	115	138	172	174
	64	68	73	62	71	95	105	99	90	91	113	145	150
Operating Profit	-0	5	5	6	12	17	17	18	20	24	25	27	24
OPM %	-0%	7%	6%	8%	14%	15%	14%	15%	18%	21%	18%	16%	14%
	1	1	1	1	0	2	4	2	1	2	2	2	2
Interest	4	4	4	4	4	3	1	1	2	2	3	6	4
Depreciation	2	2	2	2	2	2	2	2	3	6	6	7	8
Profit before tax	-5	0	0	1	6	14	18	17	17	18	17	17	14
Tax %	1%	44%	-267%	32%	19%	27%	31%	26%	25%	18%	13%	21%
	-5	0	0	0	5	10	12	12	12	15	15	13	10
EPS in Rs	-5.81	0.10	0.46	0.48	4.91	8.89	10.28	10.04	10.22	12.20	11.86	10.46	8.20
Dividend Payout %	0%	0%	0%	0%	0%	12%	10%	5%	10%	8%	8%	10%

Compounded Sales Growth
10 Years:	9%
5 Years:	7%
3 Years:	16%
TTM:	12%

Compounded Profit Growth
10 Years:	65%
5 Years:	2%
3 Years:	2%
TTM:	-32%

Stock Price CAGR
10 Years:	45%
5 Years:	13%
3 Years:	-11%
1 Year:	0%

Return on Equity
10 Years:	10%
5 Years:	9%
3 Years:	8%
Last Year:	7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	8	9	10	10	11	12	12	12	12	12	13	13	13
Reserves	7	8	8	8	16	63	75	110	122	136	181	196	208
	17	15	21	19	18	14	12	11	19	26	26	30	19
	33	33	31	23	29	28	38	43	39	52	57	55	50
Total Liabilities	65	65	69	60	73	118	137	176	192	226	277	294	289
	23	22	20	19	19	25	24	34	90	92	92	91	88
CWIP	0	1	0	0	0	0	15	40	0	0	0	0	0
Investments	0	0	0	0	0	0	0	2	2	2	4	8	10
	42	42	49	41	54	92	97	100	101	131	180	195	191
Total Assets	65	65	69	60	73	118	137	176	192	226	277	294	289

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	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	5	-3	6	4	-5	4	12	13	5	-4	-0
	-1	-1	0	-1	-2	-8	-15	-39	-18	-8	-8	-9
	2	-4	3	-5	-1	33	-4	21	6	4	28	3
Net Cash Flow	-1	1	-0	0	0	20	-14	-6	1	1	17	-6

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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	105	102	124	87	114	126	129	137	165	193	159	102
Inventory Days	122	95	95	95	102	77	67	85	28	188	230	237
Days Payable	225	209	187	160	165	118	134	160	161	291	232	152
Cash Conversion Cycle	1	-13	32	22	51	85	62	62	32	91	157	188
Working Capital Days	50	44	80	83	96	135	151	162	166	207	213	178
ROCE %	-3%	13%	12%	12%	24%	25%	20%	15%	13%	12%	11%	10%

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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