Concord Biotech Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 1:10 am

Market Cap	22,276 Cr.
Current Price	2,129
High / Low	2,664/1,327
Stock P/E	67.8
Book Value	152
Dividend Yield	0.41 %
ROCE	27.9 %
ROE	20.9 %
Face Value	1.00
PEG Ratio	-1.97

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for

Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Concord Biotech Ltd	22,276 Cr.	2,129	2,664/1,327	67.8	152	0.41 %	27.9 %	20.9 %	1.00
Industry Average	22,276.00 Cr	2,129.00		67.80	152.00	0.41%	27.90%	20.90%	1.00

All Competitor Stocks of

Quarterly Result

Month	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Sales	181	159	241	273	195	262	241	319	216
Expenses	116	121	129	144	123	143	135	185	135
Operating Profit	65	38	112	129	72	119	106	134	81
OPM %	36%	24%	46%	47%	37%	45%	44%	42%	38%
Other Income	8	6	9	12	7	8	8	11	10
Interest	1	1	1	1	1	1	0	0	0
Depreciation	14	13	14	14	13	13	14	14	13
Profit before tax	58	30	106	126	65	113	100	131	78
Tax %	26%	26%	26%	26%	25%	25%	26%	26%	25%
Net Profit	43	22	79	94	48	84	75	97	58
EPS in Rs	45.32	2.14	7.56	8.94	4.63	8.08	7.13	9.29	5.57

Last Updated: October 7, 2024, 8:19 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

Month	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	340	436	512	617	713	853	1,017	1,038
Expenses	195	256	308	289	439	509	585	597
Operating Profit	145	180	205	328	274	344	432	441
OPM %	43%	41%	40%	53%	38%	40%	42%	42%
Other Income	18	17	31	14	23	35	34	37
Interest	1	1	1	1	6	5	3	2
Depreciation	18	19	21	28	50	54	54	54
Profit before tax	144	178	213	313	241	320	409	422
Tax %	30%	33%	21%	25%	26%	26%	26%
Net Profit	100	118	169	235	179	238	305	314
EPS in Rs	105.66	124.48	177.65	247.44	187.76	22.76	29.13	30.07
Dividend Payout %	0%	21%	22%	0%	3%	30%	30%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	18.00%	43.22%	39.05%	-23.83%	32.96%	28.15%
Change in YoY Net Profit Growth (%)	0.00%	25.22%	-4.17%	-62.88%	56.79%	-4.81%

has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 6 years from 2018-2019 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	%
5 Years:	18%
3 Years:	18%
TTM:	12%

Compounded Profit Growth
10 Years:	%
5 Years:	20%
3 Years:	9%
TTM:	8%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	%
1 Year:	42%

Return on Equity
10 Years:	%
5 Years:	21%
3 Years:	19%
Last Year:	21%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 5:31 pm

Month	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	10	10	10	10	10	10	10	10
Reserves	585	673	761	990	1,098	1,282	1,515	1,580
Borrowings	22	9	52	89	62	32	10	3
Other Liabilities	69	72	118	94	144	191	164	171
Total Liabilities	685	763	941	1,183	1,313	1,515	1,699	1,765
Fixed Assets	189	230	240	546	573	593	575	558
CWIP	3	19	141	18	74	173	211	249
Investments	151	229	199	142	74	138	244	276
Other Assets	343	285	361	477	592	611	668	682
Total Assets	685	763	941	1,183	1,313	1,515	1,699	1,765

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	79	155	167	207	246	265
Cash from Investing Activity +	-42	-114	-195	-112	-158	-155
Cash from Financing Activity +	-37	-43	31	-100	-85	-99
Net Cash Flow	0	-1	3	-4	3	12

Free Cash Flow

Month	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	123.00	171.00	153.00	239.00	212.00	312.00	422.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	236	133	131	105	119	117	125
Inventory Days	381	310	312	503	434	430	331
Days Payable	210	112	201	152	185	190	150
Cash Conversion Cycle	407	331	242	456	368	357	306
Working Capital Days	275	186	160	196	179	163	169
ROCE %		27%	25%	32%	21%	26%	28%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters	44.08%	44.08%	44.08%	44.08%	44.08%
FIIs	7.30%	7.00%	6.49%	7.11%	8.10%
DIIs	8.12%	8.40%	8.41%	10.35%	9.82%
Public	40.50%	40.52%	41.03%	38.46%	38.02%
No. of Shareholders	1,00,927	87,486	83,296	80,737	84,298

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
HSBC Small Cap Fund - Regular Plan	853,962	0.97	129.87	853,962	2024-12-19	0%
Edelweiss Small Cap Fund	264,705	1.28	40.26	853,962	2024-12-19	-69%
Invesco India Smallcap Fund	257,629	1.07	39.18	853,962	2024-12-19	-69.83%
Edelweiss Mid Cap Fund	236,232	0.7	35.93	853,962	2024-12-19	-72.34%
Franklin India Smaller Companies Fund	236,040	0.31	35.9	853,962	2024-12-19	-72.36%
Edelweiss Recently Listed IPO Fund	215,000	3.64	32.7	853,962	2024-12-19	-74.82%
Invesco India ELSS Tax Saver Fund	188,286	1.13	28.63	853,962	2024-12-19	-77.95%
Invesco India Multicap Fund	169,680	0.82	25.8	853,962	2024-12-19	-80.13%
Franklin India Opportunities Fund	169,134	0.87	25.72	853,962	2024-12-19	-80.19%
Edelweiss Large & Mid Cap Fund	138,974	0.74	21.14	853,962	2024-12-19	-83.73%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22
FaceValue	1.00	1.00	10.00
Basic EPS (Rs.)	29.45	22.95	16.72
Diluted EPS (Rs.)	29.45	22.95	16.72
Cash EPS (Rs.)	34.25	27.93	240.38
Book Value[Excl.RevalReserv]/Share (Rs.)	145.93	123.31	1159.99
Book Value[Incl.RevalReserv]/Share (Rs.)	145.93	123.31	1159.99
Revenue From Operations / Share (Rs.)	97.21	81.55	749.62
PBDIT / Share (Rs.)	44.48	36.19	311.96
PBIT / Share (Rs.)	39.36	31.02	259.33
PBT / Share (Rs.)	39.11	30.59	253.57
Net Profit / Share (Rs.)	29.13	22.76	187.76
NP After MI And SOA / Share (Rs.)	29.45	22.95	183.93
PBDIT Margin (%)	45.75	44.37	41.61
PBIT Margin (%)	40.48	38.04	34.59
PBT Margin (%)	40.23	37.51	33.82
Net Profit Margin (%)	29.96	27.91	25.04
NP After MI And SOA Margin (%)	30.29	28.14	24.53
Return on Networth / Equity (%)	20.18	18.61	15.85
Return on Capital Employeed (%)	26.41	24.54	21.30
Return On Assets (%)	18.11	15.85	13.32
Long Term Debt / Equity (X)	0.00	0.00	0.02
Total Debt / Equity (X)	0.00	0.02	0.05
Asset Turnover Ratio (%)	0.63	0.60	0.00
Current Ratio (X)	6.30	3.79	4.08
Quick Ratio (X)	4.84	2.69	2.82
Inventory Turnover Ratio (X)	0.87	0.82	0.00
Dividend Payout Ratio (NP) (%)	23.19	22.31	40.31
Dividend Payout Ratio (CP) (%)	19.75	18.21	31.34
Earning Retention Ratio (%)	76.81	77.69	59.69
Cash Earning Retention Ratio (%)	80.25	81.79	68.66
Interest Coverage Ratio (X)	182.35	83.94	54.11
Interest Coverage Ratio (Post Tax) (X)	120.41	53.80	33.56
Enterprise Value (Cr.)	15881.24	0.00	0.00
EV / Net Operating Revenue (X)	15.62	0.00	0.00
EV / EBITDA (X)	34.13	0.00	0.00
MarketCap / Net Operating Revenue (X)	15.66	0.00	0.00
Retention Ratios (%)	76.80	77.68	59.68
Price / BV (X)	10.43	0.00	0.00
Price / Net Operating Revenue (X)	15.66	0.00	0.00
EarningsYield	0.01	0.00	0.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 22, 2024 is: 2,162.70

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of December 22, 2024, is Undervalued by 1.58% compared to the current share price 2,129.00

Intrinsic Value of as of December 22, 2024 is: 1,418.83

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 22, 2024, is Overvalued by 33.36% compared to the current share price 2,129.00

Last 5 Year EPS CAGR: -34.40%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 22.71%, which is a positive sign. The company has higher reserves (1,060.50 cr) compared to borrowings (34.88 cr), indicating strong financial stability. The company has shown consistent growth in sales (434.13 cr) and profit (280.00 cr) over the years.	The stock has a high average Working Capital Days of 189.71, which may not be favorable. The stock has a high average Cash Conversion Cycle of 352.43, which may not be favorable.

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in :
1. Net Profit Margin: 29.96%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 26.41% (Industry Average ROCE: 27.9%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 20.18% (Industry Average ROE: 20.9%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 120.41
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 4.84
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 67.8 (Industry average Stock P/E: 67.8)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Pharmaceuticals

INDUSTRY	ADDRESS	CONTACT
1482-1486, Trasad Road, Dholka, Ahmedabad Gujarat 382225	Mr.	Sudhir%20Vaid Chairman%20&%20Managing%20Director

Management
Name	Position Held
Mr. Ankur Vaid	Joint Managing Director & CEO
Mr. Ravi Kapoor	Non Executive Director
Mr. Rajiv Ambrish Agarwal	Non Executive Director
Mrs. Bharti Khanna	Independent Director
Mr. Amitabh Thakore	Independent Director
Mr. Arvind Agarwal	Independent Director
Mr. Jayaram Easwaran	Independent Director
Dr. Mandayam Chakravarthy Sriraman	Independent Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 22 December 2024 is ₹2162.70, which is 1.58% higher than the current market price of ₹2,129.00. The stock has a market capitalization of 22,276 Cr. and recorded a high/low of 2,664/1,327 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹1,580 Cr and total liabilities of ₹1,765 Cr.

What is the Market Cap of ?

The Market Cap of is 22,276 Cr..

What is the current Stock Price of as on 22 December 2024?

The current stock price of as on 22 December 2024 is 2,129.

What is the High / Low of stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of stocks is 2,664/1,327.

What is the Stock P/E of ?

The Stock P/E of is 67.8.

What is the Book Value of ?

The Book Value of is 152.

What is the Dividend Yield of ?

The Dividend Yield of is 0.41 %.

What is the ROCE of ?

The ROCE of is 27.9 %.

What is the ROE of ?

The ROE of is 20.9 %.

What is the Face Value of ?

The Face Value of is 1.00.