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Consolidated Standalone

Venus Remedies

₹295.6 -4.3 | 1.4%

Market Cap ₹395 Cr.

Stock P/E 13.6

P/B 0.8

Current Price ₹295.6

Book Value ₹ 357.5

Face Value 10

52W High ₹429.6

Dividend Yield 0%

52W Low ₹ 192.3

Edit Ratio

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A Detailed Equity Research Report on Venus Remedies Ltd

Overview Inc. Year: 1989Industry: Pharmaceuticals & Drugs

Venus Remedies Ltd is engaged in pharmaceutical product production enterprise. The Company offers formulations and manufactures dosage injectables. The Company is engaged in production and trading of medicines. It makes a speciality of critical care and speciality segment, consisting of anti-infective (anti-microbial resistance), anticancer, neurology, ache control, and pores and skin and wound care. The Company manufactures complicated formulations for oncology injections, oncology lyophilized, lyophilized injections, pre-crammed syringes and cephalosphorins, amongst others. It also manufactures numerous brands, together with Doxol, Paxol, Citabol, Epirol, Ronem, Immunox, Pimcef, Fejet, Parin-E, Vanconex, Supime, Tobracef, Vancoplus, Potentox, Septiloc, Acnano, Sulbactomax, Ampucare, Achnil, Meropenem and Pirotum amongst others. Its product portfolio contains of over seventy five merchandise in various therapeutic segments. The Company has over three production units in Panchkula, Baddi (India) and Werne (Germany).

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Venus Remedies Share Price

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Peer Comparison

Venus Remedies 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 203 124 142 143 140 117 156 95 168 143
Other Income 3 1 2 1 2 4 3 2 3 2
Total Income 205 126 145 145 142 121 159 97 171 146
Total Expenditure 175 112 137 129 127 109 131 85 150 131
Operating Profit 30 14 8 16 15 12 28 13 21 14
Interest 0 0 0 0 0 0 0 0 0 0
Depreciation 9 9 8 8 9 7 8 8 6 7
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 21 5 0 8 6 5 20 5 14 8
Provision for Tax -2 -1 0 1 0 1 9 4 4 1
Profit After Tax 23 6 0 7 5 3 11 1 10 7
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 23 6 0 7 5 3 11 1 10 7
Adjusted Earnings Per Share 17.3 4.2 0.2 5.2 4 2.5 8.3 0.9 7.4 5.1

Venus Remedies 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 469 542 464 418 400 372 322 339 548 600 556 562
Other Income 0 0 1 2 4 2 6 5 20 8 10 10
Total Income 469 542 465 420 404 375 328 345 568 608 566 573
Total Expenditure 349 403 375 337 349 333 289 299 494 538 495 497
Operating Profit 121 139 90 83 55 42 39 46 73 70 71 76
Interest 25 29 41 38 36 36 25 13 13 0 0 0
Depreciation 33 40 46 42 40 34 34 32 35 34 32 29
Exceptional Income / Expenses 0 0 0 0 0 0 -9 -9 23 0 0 0
Profit Before Tax 63 69 3 4 -22 -28 -30 -8 49 36 38 47
Provision for Tax 6 5 -3 2 -5 3 -1 2 -13 -4 11 18
Profit After Tax 57 64 5 2 -17 -31 -29 -10 62 41 27 29
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 57 64 5 2 -17 -31 -29 -10 62 41 27 29
Adjusted Earnings Per Share 54.4 56.2 4.5 1.5 -13.8 -24.9 -23.2 -8.1 50 30.5 19.9 21.7

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -7% 18% 8% 2%
Operating Profit CAGR 1% 16% 11% -5%
PAT CAGR -34% 0% 0% -7%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 45% -3% 57% -1%
ROE Average 6% 11% 4% 4%
ROCE Average 8% 9% 6% 6%

Venus Remedies 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 379 462 457 438 389 362 333 323 400 440 460
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 129 140 202 191 162 137 116 72 47 39 39
Other Non-Current Liabilities 18 22 19 21 18 21 21 24 11 7 19
Total Current Liabilities 191 211 163 193 197 230 264 225 97 93 83
Total Liabilities 718 834 841 843 765 751 733 644 556 579 601
Fixed Assets 401 439 444 452 406 389 364 289 262 241 216
Other Non-Current Assets 91 123 164 113 99 101 103 60 60 60 62
Total Current Assets 226 272 233 277 259 260 265 294 234 278 323
Total Assets 718 834 841 843 765 751 733 644 556 579 601

Venus Remedies 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 3 6 4 4 7 0 4 2 2 29 43
Cash Flow from Operating Activities 52 53 68 47 59 31 45 78 132 41 37
Cash Flow from Investing Activities -104 -95 -67 3 -18 -11 -11 -5 56 -17 -51
Cash Flow from Financing Activities 55 40 -1 -46 -44 -39 -35 -73 -162 -9 -1
Net Cash Inflow / Outflow 3 -2 -1 3 -4 -20 -1 -0 26 15 -15
Closing Cash & Cash Equivalent 6 4 4 7 4 -20 3 2 29 43 21

Venus Remedies 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) 54.36 56.19 4.51 1.48 -13.84 -24.87 -23.15 -8.1 50.04 30.47 19.87
CEPS(Rs) 85.74 91.34 44.71 37.91 18.78 2.54 4.38 17.84 78.63 55.55 44.04
DPS(Rs) 3 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 355.1 403.43 399.13 382.47 314.92 293.23 269.42 262.01 313.18 329.5 344.38
Core EBITDA Margin(%) 25.56 25.48 19.22 19.4 12.68 10.6 10.1 12.03 9.81 10.35 10.84
EBIT Margin(%) 18.62 18.16 9.45 9.92 3.68 2.16 -1.34 1.56 11.23 6.15 6.88
Pre Tax Margin(%) 13.38 12.74 0.57 0.84 -5.41 -7.39 -9.23 -2.37 8.86 6.07 6.83
PAT Margin (%) 12.2 11.85 1.11 0.41 -4.27 -8.24 -8.88 -2.95 11.27 6.79 4.78
Cash Profit Margin (%) 19.24 19.27 11.03 10.37 5.79 0.84 1.68 6.49 17.7 12.37 10.6
ROA(%) 8.87 8.29 0.62 0.2 -2.12 -4.05 -3.85 -1.45 10.3 7.18 4.5
ROE(%) 17.04 15.38 1.12 0.38 -4.13 -8.18 -8.23 -3.05 17.4 9.85 5.9
ROCE(%) 14.85 14.06 5.74 5.35 2 1.17 -0.67 0.9 12.37 7.89 7.75
Receivable days 33.88 37.72 50.42 54.45 49.67 46.34 48.37 36.97 20.89 21.48 37.87
Inventory Days 87.34 90.94 112.15 124.86 129.51 136.61 159.26 152.66 86.94 74.69 80.68
Payable days 21.79 30.41 41.25 41.86 44.1 52.56 65.53 76.11 57.86 57.31 55.69
PER(x) 4.44 4.38 29.55 59.61 0 0 0 0 5.49 8.82 8.15
Price/Book(x) 0.68 0.61 0.33 0.23 0.31 0.22 0.12 0.09 0.88 0.82 0.47
Dividend Yield(%) 1.24 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 1.11 1.04 1.01 1.03 1.07 1.03 1.04 0.73 0.65 0.59 0.37
EV/Core EBITDA(x) 4.31 4.08 5.23 5.16 7.8 9.17 8.7 5.34 4.89 5 2.91
Net Sales Growth(%) 14.35 15.56 -14.32 -9.85 -4.36 -6.91 -13.57 5.42 61.53 9.5 -7.44
EBIT Growth(%) 11.65 12.6 -55.46 -5.41 -64.47 -45.53 -153.82 222.71 1061.31 -40.09 3.62
PAT Growth(%) 21.73 12.19 -91.97 -67.08 -1105.46 -79.69 6.9 65.01 717.7 -34.07 -34.77
EPS Growth(%) 12.5 3.37 -91.97 -67.08 -1032.14 -79.69 6.9 65.01 717.7 -39.12 -34.77
Debt/Equity(x) 0.72 0.63 0.7 0.77 0.8 0.85 0.9 0.68 0.13 0.1 0.09
Current Ratio(x) 1.18 1.29 1.43 1.43 1.32 1.13 1.01 1.31 2.4 3 3.91
Quick Ratio(x) 0.51 0.62 0.55 0.69 0.6 0.53 0.47 0.68 1.17 1.64 2.46
Interest Cover(x) 3.55 3.35 1.06 1.09 0.41 0.23 -0.17 0.4 4.73 76.69 129.84
Total Debt/Mcap(x) 1.15 1.03 2.1 3.31 2.58 3.79 7.28 7.94 0.15 0.12 0.2

Venus Remedies Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 40.81 40.81 41.76 41.76 41.76 41.76 41.76 41.76 41.76 41.76
FII 0.28 0.33 0.96 1.13 1.07 1 0.98 1.03 1.59 1.48
DII 0 0 0 0 0 0 0 0 0 0
Public 58.91 58.86 57.28 57.11 57.17 57.24 57.26 57.21 56.65 56.76
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Stock is trading at 0.8 times its book value
  • Debtor days have improved from 57.31 to 55.69days.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 41.76%.
  • Company has a low return on equity of 11% over the last 3 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.

Venus Remedies News

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