Ipca Laboratories

₹1313.1 29.8 | 2.3%

WEBSITE BSE:524494 NSE : IPCA LAB LTD 10 May, 16:01

Market Cap ₹33314 Cr.

Stock P/E 59.0

P/B 5.2

Current Price ₹1313.1

Book Value ₹ 251.1

Face Value 1

52W High ₹1374

Dividend Yield 0.3%

52W Low ₹ 670

Edit Ratio

Ipca Laboratories Research see more...

Overview Inc. Year: 1949Industry: Pharmaceuticals & Drugs

Ipca Laboratories Ltd is an India-based pharmaceutical company. The Company is in production and marketing over 350 formulations and about 80 APIs masking diverse healing segments. It offers APIs, which includes Chlorthalidone, Furosemide, Hydroxychloroquine sulfate, Atenolol, Chloroquine Phosphate, Losartan, Metoprolol Succinate, Metoprolol Tartrate, Pyrantel Salts and Propranolol. The Company gives brands, consisting of Tenoric, Lumerax, Etova, Fexova, Malirid, Allsuth, Alwiz, AZR 50mg, Zerodol, Lariago, HCQS, Perinorm, Rapither AB, Bacilon, Cinkona, Clarbact, Glyree MV, Halotop, Xtor-F, Zabpro, Zilast, Ramcor, Sove, Luliz, Ozepam, Pacimol, Pari, Venpower and Folitrax. The merchandise of the Company are sold in over 100 international locations across the globe. The Company has 17 manufacturing devices in India manufacturing API's and formulations. Its subsidiaries consist of Ipca Pharmaceuticals, Inc., USA Ipca Laboratories (U.K.) Ltd and Tonira Exports Ltd.

Ipca Laboratories Share Price

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Peer Comparison

Ipca Laboratories Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	1544	1430	1289	1586	1601	1546	1512	1588	2034	2053
Other Income	18	13	15	22	36	31	36	45	39	22
Total Income	1563	1443	1304	1608	1637	1577	1548	1632	2073	2075
Total Expenditure	1179	1123	1070	1317	1340	1330	1331	1280	1713	1722
Operating Profit	384	321	234	291	297	247	217	352	360	354
Interest	1	1	3	7	9	11	18	31	44	33
Depreciation	57	59	61	62	64	67	70	69	90	100
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	68
Profit Before Tax	326	261	170	223	224	169	129	252	225	289
Provision for Tax	68	57	29	74	77	54	48	86	88	66
Profit After Tax	258	203	141	148	147	116	81	166	137	223
Adjustments	-8	-6	-11	-5	-3	-8	-5	-3	8	-43
Profit After Adjustments	250	197	130	143	144	108	77	163	145	180
Adjusted Earnings Per Share	9.9	3.9	5.1	5.6	5.7	4.3	3	6.4	5.7	7.1

Ipca Laboratories Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	2806	3282	3144	2867	3156	3258	3746	4619	5395	5797	6204	7187
Other Income	40	52	59	41	55	58	75	87	129	122	152	142
Total Income	2846	3334	3203	2908	3211	3316	3820	4706	5524	5918	6356	7328
Total Expenditure	2268	2570	2630	2593	2741	2816	3067	3729	3914	4539	5301	6046
Operating Profit	577	764	573	314	470	500	753	977	1610	1379	1055	1283
Interest	36	30	32	35	27	28	22	20	12	11	48	126
Depreciation	87	103	180	163	173	178	182	211	209	232	262	329
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	0	68
Profit Before Tax	454	631	361	117	262	291	546	739	1389	1136	745	895
Provision for Tax	130	152	102	20	68	51	104	135	240	225	253	288
Profit After Tax	324	478	259	96	195	239	442	604	1149	911	492	607
Adjustments	-1	0	-5	-3	0	0	3	3	-9	-27	-21	-43
Profit After Adjustments	324	479	254	93	195	239	446	606	1140	884	471	565
Adjusted Earnings Per Share	12.8	19	10.1	3.7	7.7	9.5	17.6	24	44.9	34.8	18.6	22.2

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	7%	10%	14%	8%
Operating Profit CAGR	-23%	3%	16%	6%
PAT CAGR	-46%	-7%	16%	4%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	89%	8%	22%	12%
ROE Average	9%	18%	17%	16%
ROCE Average	12%	21%	20%	17%

Ipca Laboratories Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	1554	1960	2208	2259	2455	2689	3122	3627	4702	5465	5842
Minority's Interest	0	0	0	0	0	0	16	14	15	77	73
Borrowings	366	294	503	484	352	234	141	103	9	395	652
Other Non-Current Liabilities	143	165	196	178	197	185	173	187	181	219	250
Total Current Liabilities	634	791	904	970	956	1008	1098	1326	1161	1466	1806
Total Liabilities	2697	3211	3812	3892	3960	4116	4549	5258	6066	7622	8623
Fixed Assets	1104	1354	1800	2014	1983	1953	1940	2059	2072	2402	2751
Other Non-Current Assets	196	256	398	256	234	217	231	343	557	762	682
Total Current Assets	1397	1601	1614	1622	1742	1945	2378	2856	3437	4447	5189
Total Assets	2697	3211	3812	3892	3960	4116	4549	5258	6066	7622	8623

Ipca Laboratories Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	11	57	74	140	169	143	218	371	295	559	991
Cash Flow from Operating Activities	389	522	468	709	282	341	501	570	1090	856	806
Cash Flow from Investing Activities	-260	-369	-689	-218	-149	-135	-165	-510	-521	-855	-725
Cash Flow from Financing Activities	-83	-136	251	-462	-159	-130	-183	-137	-306	427	507
Net Cash Inflow / Outflow	46	17	29	29	-26	75	153	-76	264	428	588
Closing Cash & Cash Equivalent	57	74	104	169	143	218	371	295	559	991	1579

Ipca Laboratories Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	12.82	18.96	10.07	3.69	7.71	9.49	17.63	23.99	44.94	34.85	18.58
CEPS(Rs)	16.29	23.03	17.38	10.28	14.56	16.53	24.72	32.21	53.53	45.07	29.7
DPS(Rs)	2	2.5	0.5	0	0.5	0.5	1.5	2.5	4	4	4
Book NAV/Share(Rs)	61.56	77.64	87.5	89.51	97.28	106.51	123.56	143.08	185.32	215.41	230.27
Core EBITDA Margin(%)	18.94	21.49	16.18	9.42	12.93	13.46	17.98	19.16	27.33	21.57	14.47
EBIT Margin(%)	17.29	19.94	12.38	5.2	9	9.69	15.07	16.32	25.85	19.67	12.71
Pre Tax Margin(%)	16.01	19.03	11.37	4.01	8.16	8.85	14.48	15.89	25.63	19.48	11.94
PAT Margin (%)	11.43	14.43	8.16	3.31	6.06	7.29	11.72	12.98	21.2	15.63	7.88
Cash Profit Margin (%)	14.49	17.54	13.81	8.93	11.44	12.7	16.55	17.51	25.06	19.61	12.07
ROA(%)	12.91	16.19	7.38	2.5	4.96	5.93	10.21	12.31	20.29	13.31	6.06
ROE(%)	23.1	27.22	12.43	4.31	8.25	9.31	15.22	17.92	27.63	17.92	8.7
ROCE(%)	24.38	27.92	13.78	4.82	9.18	9.81	16.48	19.71	30.92	20.46	11.71
Receivable days	49.05	47.78	46.12	50.16	53.75	61.27	62.09	61.9	57.48	53.92	55.52
Inventory Days	90.74	87.49	101.93	110.76	97.7	97.98	94.47	94.05	98.25	108.09	105.25
Payable days	70.32	89.81	105.4	140.86	148.75	138.61	141.38	128.13	136.39	111.16	86.04
PER(x)	20.54	22.28	31.7	78.55	40.44	34.52	27.86	28.93	21.17	30.45	43.62
Price/Book(x)	4.28	5.44	3.65	3.24	3.2	3.07	3.98	4.85	5.13	4.93	3.52
Dividend Yield(%)	0.76	0.59	0.16	0	0.16	0.15	0.31	0.36	0.42	0.38	0.49
EV/Net Sales(x)	2.57	3.41	2.82	2.79	2.71	2.68	3.36	3.86	4.45	4.67	3.25
EV/Core EBITDA(x)	12.48	14.64	15.48	25.47	18.18	17.48	16.73	18.26	14.92	19.63	19.11
Net Sales Growth(%)	19.1	16.96	-4.19	-8.82	10.08	3.22	14.98	23.32	16.8	7.45	7.03
EBIT Growth(%)	20.08	34.66	-40.5	-61.55	91.12	10.08	78.78	33.4	84.7	-18.15	-30.82
PAT Growth(%)	17.43	47.44	-45.81	-62.88	102.22	23.07	84.7	36.48	90.34	-20.71	-46
EPS Growth(%)	16.45	47.9	-46.87	-63.36	108.87	23.07	85.89	36.07	87.28	-22.45	-46.69
Debt/Equity(x)	0.4	0.31	0.42	0.38	0.29	0.23	0.15	0.13	0.05	0.14	0.25
Current Ratio(x)	2.2	2.02	1.78	1.67	1.82	1.93	2.17	2.15	2.96	3.03	2.87
Quick Ratio(x)	1.04	0.95	0.76	0.81	0.9	1.06	1.19	1.16	1.59	1.77	1.91
Interest Cover(x)	13.45	21.86	12.24	4.38	10.74	11.54	25.57	38.37	114.2	102.4	16.47
Total Debt/Mcap(x)	0.09	0.06	0.12	0.12	0.09	0.08	0.04	0.03	0.01	0.03	0.07

Ipca Laboratories Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	46.29	46.29	46.29	46.29	46.29	46.29	46.29	46.29	46.29	46.3
FII	12.34	11.02	10.61	10.55	10.44	10.57	10.05	9.85	10.27	10.5
DII	30.27	32.94	33.74	33.81	34.04	34.07	35.19	35.05	34.52	34.37
Public	11.11	9.75	9.37	9.35	9.22	9.07	8.48	8.81	8.92	8.82
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	5.87	11.74	11.74	11.74	11.74	11.74	11.74	11.74	11.74	11.75
FII	1.57	2.8	2.69	2.68	2.65	2.68	2.55	2.5	2.61	2.66
DII	3.84	8.36	8.56	8.58	8.64	8.64	8.93	8.89	8.76	8.72
Public	1.41	2.47	2.38	2.37	2.34	2.3	2.15	2.24	2.26	2.24
Others	0	0	0	0	0	0	0	0	0	0
Total	12.69	25.37	25.37	25.37	25.37	25.37	25.37	25.37	25.37	25.37

Pros

Debtor days have improved from 111.16 to 86.04days.
Company is almost debt free.

Cons

Promoter holding is low: 46.3%.
Stock is trading at 5.2 times its book value.

* 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.

Ipca Laboratories News

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Ipca Laboratories

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Ipca Laboratories Research see more...

Overview Inc. Year: 1949Industry: Pharmaceuticals & Drugs

Ipca Laboratories Share Price

Alert Data

Quarterly Price

Peer Comparison

Ipca Laboratories Quarterly Results

Ipca Laboratories Profit & Loss

Growth Rates

Ipca Laboratories Balance Sheet

Ipca Laboratories Cash Flow

Ipca Laboratories Ratios

Ipca Laboratories Shareholding Pattern

Ipca Laboratories News

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