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Consolidated Standalone

Morepen Laboratories

₹46.1 0.5 | 1.2%

Market Cap ₹2359 Cr.

Stock P/E 31.0

P/B 2.9

Current Price ₹46.1

Book Value ₹ 16.1

Face Value 2

52W High ₹56.4

Dividend Yield 0%

52W Low ₹ 25.3

Edit Ratio

Morepen Laboratories Research see more...

Overview Inc. Year: 1984Industry: Pharmaceuticals & Drugs

Morepen Laboratories Ltd is a pharmaceutical organization. It's divisions include Home Diagnostic, Finished Formulations and Active Pharmaceutical Ingredients (API). The API division offers merchandise, such as Loratadine Process-1, Desloratadine, Atorvastatin Calcium Amorphous, Atorvastatin Calcium Crystalline Form VI and Linagliptin, amongst others. The Company offers merchandise underneath the self-health diagnostic logo HomeHealth. Its HomeHealth portfolio consists of automatic digital blood pressure monitors, digital and analog weighing scales, pregnancy cards, body and foot massagers, heat therapy range, nebulizers, and scientific and digital thermometers. It markets various manufacturers of medical devices and medical diagnostic products. The Company operates in India, the USA and Rest of World. Its subsidiaries comprises Dr. Morepen Ltd, Total Care Ltd and Morepen Inc.

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Morepen Laboratories Share Price

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Peer Comparison

Morepen 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 395 397 368 302 403 348 364 401 422 445
Other Income 12 3 3 1 1 1 3 2 3 4
Total Income 407 399 371 303 404 350 367 403 425 449
Total Expenditure 353 364 350 288 374 328 348 375 388 394
Operating Profit 54 35 22 15 30 22 19 29 37 55
Interest 0 1 1 0 0 1 1 0 0 2
Depreciation 7 7 7 7 7 7 7 8 8 8
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 47 27 14 8 22 14 11 21 29 44
Provision for Tax 9 6 2 3 6 5 3 6 7 12
Profit After Tax 37 22 12 6 16 9 8 15 21 32
Adjustments -0 -0 0 0 0 -0 -0 0 0 0
Profit After Adjustments 37 22 12 6 16 9 8 15 21 32
Adjusted Earnings Per Share 0.8 0.5 0.3 0.1 0.3 0.2 0.2 0.3 0.4 0.6

Morepen 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 326 367 401 485 595 607 769 853 1188 1547 1418 1632
Other Income 3 1 1 1 4 4 4 9 12 20 6 12
Total Income 329 368 402 486 599 610 772 863 1200 1567 1424 1644
Total Expenditure 295 318 352 424 534 542 701 785 1070 1410 1338 1505
Operating Profit 34 50 50 63 65 68 71 78 131 157 86 140
Interest 12 10 9 11 8 4 2 2 2 2 2 3
Depreciation 46 46 39 35 34 34 40 37 30 28 28 31
Exceptional Income / Expenses 3 3 0 -4 0 0 0 0 0 0 0 0
Profit Before Tax -21 -3 2 13 24 30 29 39 99 127 56 105
Provision for Tax -0 0 0 -0 0 0 0 6 1 25 17 28
Profit After Tax -21 -3 2 13 24 30 29 34 97 102 39 76
Adjustments 0 -0 -0 0 0 -0 0 0 -0 0 -0 0
Profit After Adjustments -21 -3 2 13 24 30 29 34 97 102 39 76
Adjusted Earnings Per Share -0.5 -0.1 0 0.3 0.5 0.7 0.6 0.7 2.2 2.1 0.8 1.5

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -8% 18% 18% 16%
Operating Profit CAGR -45% 3% 5% 10%
PAT CAGR -62% 5% 5% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 69% -8% 19% 27%
ROE Average 6% 19% 16% 9%
ROCE Average 8% 20% 16% 11%

Morepen 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 300 297 287 300 196 226 253 284 425 579 753
Minority's Interest -0 -0 -0 -1 -1 -0 -0 -0 -0 -0 -0
Borrowings 95 75 62 43 1 3 2 1 1 1 1
Other Non-Current Liabilities 9 10 12 14 16 17 22 27 29 34 36
Total Current Liabilities 103 108 128 167 325 340 339 351 404 456 321
Total Liabilities 506 490 489 524 538 586 615 663 858 1070 1110
Fixed Assets 409 368 322 297 272 264 236 216 225 252 267
Other Non-Current Assets 6 25 52 70 75 78 79 75 107 84 87
Total Current Assets 91 96 115 157 192 243 299 372 527 734 756
Total Assets 506 490 489 524 538 586 615 663 858 1070 1110

Morepen 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 5 6 9 9 4 7 6 10 14 41 16
Cash Flow from Operating Activities 34 34 51 50 41 63 17 11 51 -60 -91
Cash Flow from Investing Activities -3 -1 -32 -27 -14 -27 -13 -12 -70 -32 -47
Cash Flow from Financing Activities -30 -29 -19 -27 -24 -38 -0 5 47 66 144
Net Cash Inflow / Outflow 1 4 -0 -4 3 -1 4 4 28 -26 6
Closing Cash & Cash Equivalent 6 9 9 4 7 6 10 14 41 16 22

Morepen 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) -0.46 -0.06 0.05 0.28 0.53 0.66 0.64 0.75 2.16 2.13 0.76
CEPS(Rs) 0.56 0.96 0.91 1.07 1.28 1.42 1.53 1.57 2.83 2.71 1.3
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 4.01 3.95 3.73 4.02 4.36 5.02 5.63 6.32 8.47 11.56 14.73
Core EBITDA Margin(%) 9.33 13.16 11.82 12.46 10.31 10.67 8.79 8.03 9.98 8.84 5.61
EBIT Margin(%) -2.68 1.93 2.68 4.69 5.24 5.63 4.07 4.82 8.44 8.35 4.07
Pre Tax Margin(%) -6.19 -0.74 0.56 2.56 3.97 4.91 3.8 4.58 8.29 8.19 3.93
PAT Margin (%) -6.18 -0.74 0.52 2.59 3.97 4.91 3.75 3.94 8.17 6.57 2.73
Cash Profit Margin (%) 7.62 11.6 10 9.71 9.66 10.57 8.94 8.26 10.72 8.36 4.7
ROA(%) -3.9 -0.55 0.44 2.53 4.45 5.3 4.8 5.25 12.76 10.55 3.55
ROE(%) -10.77 -1.54 1.24 7.35 12.54 14.1 12.04 12.5 29.2 21.79 5.93
ROCE(%) -2.09 1.8 2.9 6.29 10.18 14.05 10.01 12.05 27.13 24.86 8.4
Receivable days 40.83 40.16 44.17 53.22 55.44 64.63 60.7 58.07 49.1 51.04 66.16
Inventory Days 41.63 34.55 31.48 29.27 32.73 42.59 40.63 49.78 48.2 53.23 64.98
Payable days 114.85 109.49 117.44 124.61 122.33 151.42 130.66 118.53 94.6 86.93 98.32
PER(x) 0 0 246.64 91.71 36.16 46.89 26.89 12.78 14.89 17.2 33.94
Price/Book(x) 0.63 0.97 3.15 6.5 4.35 6.14 3.07 1.51 3.8 3.17 1.74
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 1.04 1.01 1.8 2.8 1.5 2.3 1.14 0.47 1.17 1.11 0.9
EV/Core EBITDA(x) 10 7.42 14.51 21.62 13.76 20.4 12.3 5.18 10.68 10.98 14.96
Net Sales Growth(%) 12.64 12.56 9.21 21.08 22.76 1.85 26.72 11 39.27 30.2 -8.36
EBIT Growth(%) 42.99 180.67 52.33 111.83 34.63 9.42 -8.33 31.34 144.09 28.74 -55.29
PAT Growth(%) 13.14 86.6 177.89 497.5 84.63 25.99 -3.13 16.43 189.14 4.73 -61.96
EPS Growth(%) 13.24 86.5 177.27 497.9 84.65 25.2 -2.51 16.39 189.15 -1.4 -64.44
Debt/Equity(x) 0.37 0.3 0.28 0.22 0.25 0.06 0.52 0.05 0.04 0.03 0.03
Current Ratio(x) 0.89 0.89 0.9 0.94 0.59 0.72 0.88 1.06 1.3 1.61 2.35
Quick Ratio(x) 0.53 0.58 0.61 0.69 0.39 0.49 0.61 0.66 0.87 1 1.64
Interest Cover(x) -0.77 0.72 1.26 2.21 4.13 7.83 14.83 20.71 56.09 53.22 29.15
Total Debt/Mcap(x) 0.99 0.52 0.15 0.06 0.06 0.01 0.17 0.03 0.01 0.01 0.02

Morepen Laboratories Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 34.54 38.38 36.74 38.22 38.22 38.22 38.22 38.22 38.22 38.22
FII 0.91 0.96 0.95 1.16 0.88 0.96 1 1.29 2.11 1.85
DII 1.16 1.07 4.07 3.99 3.75 2.94 2.34 2.29 2.23 2.16
Public 63.39 59.59 58.24 56.63 57.14 57.88 58.44 58.2 57.45 57.77
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company is almost debt free.

Cons

  • Promoter holding is low: 38.22%.
  • Debtor days have increased from 86.93 to 98.32days.
  • The company has delivered a poor profit growth of 5% over past five years.

* 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.

Morepen Laboratories News

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