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Neuland Laboratories

₹7141.9 -2.1 | 0%

Market Cap ₹9163 Cr.

Stock P/E 30.7

P/B 7.1

Current Price ₹7141.9

Book Value ₹ 999.1

Face Value 10

52W High ₹7794

Dividend Yield 0.2%

52W Low ₹ 2083.1

Overview Inc. Year: 1984Industry: Pharmaceuticals & Drugs

Neuland Laboratories Ltd is engaged in manufacturing API. The Company also provides Custom Manufacturing Solutions (CMS) to develop and manufacture pharmaceutical substances and intermediates. Its geographical segments consist of Europe, India, USA and Rest of the arena. The Company's API products include Alcaftadine, Aripiprazole, Bosentan Monohydrate, Dabigatran Etexilate Mesylate, Deferasirox, Enalapril Maleate, Escitalopram Oxalate, Labetalol Hydrochloride, Posaconazole, Propofol, Ropinirole Hydrochloride, Ticagrelor, Levofloxacin Hemihydrate and Ciprofloxacin Base. It caters to therapeutic categories, inclusive of ophthalmic, schizophrenia, vasodilator, fluoroquinolones, ironchelator, chronic obstructive pulmonary ailment and cardiovascular. The Company additionally offers peptide synthesis offerings, together with manufacture of complex amino acids, and manufacture of peptide APIs, new chemical entities (NCEs) and impurities.

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Neuland Laboratories Share Price

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Neuland Laboratories Quarterly Results

#(Fig in Cr.) Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Net Sales 236 256 221 294 269 407 363 418 393 385
Other Income 2 1 1 0 1 8 2 3 2 5
Total Income 238 257 222 294 270 415 365 421 395 390
Total Expenditure 204 217 193 224 215 287 266 280 272 278
Operating Profit 34 40 29 70 55 128 99 141 123 112
Interest 3 3 3 3 3 4 2 4 4 4
Depreciation 13 12 13 13 13 13 14 15 15 16
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 18 24 13 53 39 110 83 122 104 92
Provision for Tax 5 2 3 15 8 26 21 32 23 25
Profit After Tax 13 22 10 38 31 85 62 89 81 68
Adjustments 0 0 0 -0 0 0 0 0 0 0
Profit After Adjustments 13 22 10 38 31 85 62 89 81 68
Adjusted Earnings Per Share 10 16.9 7.7 29.8 23.7 65.5 48 69.2 63.1 52.4

Neuland 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 456 466 469 510 579 527 667 763 937 951 1191 1559
Other Income 4 3 1 2 1 5 3 4 16 2 10 12
Total Income 461 469 470 512 580 532 670 767 953 953 1201 1571
Total Expenditure 396 395 403 430 473 477 608 661 790 808 919 1096
Operating Profit 65 74 67 82 108 55 62 106 163 145 282 475
Interest 31 25 27 24 21 19 16 22 18 13 13 14
Depreciation 15 15 15 16 19 22 26 31 40 49 53 60
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 19 35 25 42 67 14 20 53 105 82 216 401
Provision for Tax 3 8 9 15 20 2 4 37 25 18 52 101
Profit After Tax 16 27 16 27 47 12 16 16 81 64 164 300
Adjustments -2 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 14 27 16 27 47 12 16 16 81 64 164 300
Adjusted Earnings Per Share 17.3 33.5 18 30.8 52.7 13.6 12.8 12.6 62.8 49.7 127.5 232.7

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 25% 16% 18% 10%
Operating Profit CAGR 94% 39% 39% 16%
PAT CAGR 156% 117% 69% 26%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 237% 38% 60% 38%
ROE Average 18% 12% 8% 13%
ROCE Average 21% 14% 11% 13%

Neuland 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 100 124 161 187 546 558 699 710 786 841 994
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 51 34 33 45 30 103 61 77 88 104 74
Other Non-Current Liabilities 11 18 22 24 25 43 43 86 82 76 72
Total Current Liabilities 263 307 295 268 286 367 327 358 369 363 439
Total Liabilities 425 483 512 524 886 1071 1130 1231 1325 1383 1580
Fixed Assets 136 131 123 139 436 445 512 623 697 748 738
Other Non-Current Assets 62 65 73 71 75 179 165 93 78 55 81
Total Current Assets 227 288 316 314 375 447 453 515 550 581 761
Total Assets 425 483 512 524 886 1071 1130 1231 1325 1383 1580

Neuland 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 2 1 1 1 7 3 3 8 11 2 5
Cash Flow from Operating Activities 26 49 13 45 39 11 70 57 189 60 237
Cash Flow from Investing Activities -7 -10 -14 -20 -42 -116 -77 -49 -84 -96 -61
Cash Flow from Financing Activities -20 -39 1 -24 -0 105 12 -5 -114 38 -136
Net Cash Inflow / Outflow -1 -0 0 1 -4 -0 5 3 -9 3 40
Closing Cash & Cash Equivalent 1 1 1 2 3 3 8 11 2 5 45

Neuland 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) 17.33 33.46 17.95 30.76 52.75 13.58 12.82 12.63 62.85 49.74 127.45
CEPS(Rs) 38.42 52.04 35.18 48.21 74.39 38.46 32.97 37.02 93.78 87.97 168.59
DPS(Rs) 1.2 3 1.5 2 0 0 1.2 2 5 5 10
Book NAV/Share(Rs) 123.4 153.48 180.72 209.07 263.23 277.21 544.35 552.65 612.28 654.4 774.12
Core EBITDA Margin(%) 13.05 14.88 13.99 15.55 18.09 9.53 8.75 13.36 15.67 15 22.82
EBIT Margin(%) 10.79 12.45 10.93 12.85 15.02 6.21 5.4 9.77 13.15 10.06 19.21
Pre Tax Margin(%) 4.06 7.28 5.19 8.12 11.43 2.63 3.05 6.94 11.24 8.64 18.11
PAT Margin (%) 3.46 5.64 3.34 5.23 7.97 2.28 2.47 2.13 8.61 6.71 13.73
Cash Profit Margin (%) 6.6 8.78 6.56 8.27 11.25 6.46 6.34 6.23 12.84 11.87 18.16
ROA(%) 3.8 5.89 3.2 5.23 6.65 1.23 1.49 1.37 6.31 4.71 11.04
ROE(%) 18.56 24.14 11.24 15.64 22.34 5.02 3.48 2.3 10.79 7.85 17.84
ROCE(%) 16.63 18.99 15.75 18.57 15.98 4.07 3.99 7.85 12.81 9.44 20.94
Receivable days 76.34 83.45 94.81 87.45 93.22 129.34 97.96 84.68 79.4 86.74 91.33
Inventory Days 72.3 71.34 79.24 84.66 81.29 106.98 100.64 98.63 91 98.4 83.41
Payable days 130.76 130.25 153.9 140.89 117.86 160.95 121.57 112.92 111.44 116.52 110.05
PER(x) 5.17 7.43 18.55 22.76 28.21 52.07 52.62 22.43 33.22 20.64 14.12
Price/Book(x) 0.73 1.62 1.84 3.35 5.65 2.55 1.24 0.51 3.41 1.57 2.32
Dividend Yield(%) 1.28 1.15 0.45 0.29 0 0 0.18 0.71 0.24 0.49 0.56
EV/Net Sales(x) 0.62 0.82 1.02 1.56 2.59 1.76 1.59 0.76 3.02 1.61 1.99
EV/Core EBITDA(x) 4.34 5.16 7.07 9.66 13.97 16.92 17.12 5.45 17.37 10.56 8.42
Net Sales Growth(%) 2.47 2.02 0.74 8.7 13.51 -8.89 26.44 14.38 22.84 1.51 25.25
EBIT Growth(%) 18.33 17.63 -11.9 27.64 32.78 -62.77 9.55 106.93 65.42 -22.38 139.2
PAT Growth(%) 42.44 65.99 -40.45 69.97 73.06 -74.26 36.3 -1.41 397.4 -20.85 156.21
EPS Growth(%) 282.12 93.08 -46.35 71.35 71.49 -74.26 -5.62 -1.41 397.4 -20.85 156.21
Debt/Equity(x) 2.13 1.55 1.17 0.98 0.82 1.3 0.33 0.37 0.22 0.28 0.12
Current Ratio(x) 0.86 0.94 1.07 1.17 1.31 1.22 1.39 1.44 1.49 1.6 1.73
Quick Ratio(x) 0.51 0.64 0.69 0.7 0.84 0.74 0.8 0.83 0.82 0.87 1.1
Interest Cover(x) 1.6 2.41 1.9 2.72 4.19 1.74 2.3 3.45 6.89 7.09 17.51
Total Debt/Mcap(x) 2.94 0.96 0.63 0.29 0.15 0.51 0.27 0.71 0.06 0.18 0.05

Neuland Laboratories Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 36.22 36.22 36.22 36.22 36.14 36.14 36.03 35.97 32.8 32.74
FII 17.19 17.19 17.37 17.68 17.7 18.13 20.19 21.57 22.69 24.44
DII 6.19 6.4 6.47 7.02 7 7.5 7.16 7.39 6.43 6.94
Public 40.4 40.19 39.94 39.08 39.15 38.23 36.62 35.07 38.08 35.88
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has delivered good profit growth of 68% CAGR over last 5 years
  • Debtor days have improved from 116.52 to 110.05days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 32.74%.
  • Company has a low return on equity of 12% over the last 3 years.
  • Stock is trading at 7.1 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.

Neuland Laboratories News

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