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Last Updated on: 21 December, 2024
Author: Getaka|Social: Getaka Financial Technology X (Earlier Twitter) Profile Getaka Financial Technology LinkedIn Logo
Stock Ticker - BSE: 524494 | NSE: IPCALAB

Ipca Laboratories Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 2:22 am

Market Cap 40,149 Cr.
Current Price 1,582
High / Low 1,709/1,052
Stock P/E64.4
Book Value 264
Dividend Yield0.25 %
ROCE12.8 %
ROE9.35 %
Face Value 1.00
PEG Ratio-30.61

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

View Share Price Target for

Competitors of

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Gujarat Themis Biosyn Ltd 3,354 Cr. 308 390/12863.6 20.50.22 %45.0 %33.8 % 1.00
Gujarat Terce Laboratories Ltd 62.6 Cr. 84.4 94.9/26.624.0 11.90.00 %9.72 %3.44 % 10.0
Gujarat Inject (Kerala) Ltd 35.9 Cr. 24.5 24.5/8.7446.6 6.640.00 %2.65 %2.08 % 10.0
Godavari Drugs Ltd 86.7 Cr. 115 155/87.013.0 55.40.00 %14.4 %15.5 % 10.0
Glenmark Life Sciences Ltd 12,416 Cr. 1,013 1,335/64529.3 2072.22 %28.1 %21.1 % 2.00
Industry Average14,994.84N/A46.07N/AN/A16.0715.77N/A

All Competitor Stocks of

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales1,114.661,565.791,544.431,430.471,289.101,585.741,600.951,546.001,511.631,585.212,033.962,052.862,033.01
Expenses885.751,151.681,184.181,122.661,069.771,316.511,341.241,330.141,330.591,277.591,712.691,721.981,711.11
Operating Profit228.91414.11360.25307.81219.33269.23259.71215.86181.04307.62321.27330.88321.90
OPM %20.54%26.45%23.33%21.52%17.01%16.98%16.22%13.96%11.98%19.41%15.80%16.12%15.83%
Other Income19.9221.0218.0812.3014.5422.1136.2330.8936.3944.8538.5590.91-117.80
Interest1.701.821.061.433.386.949.3110.8418.4531.3844.1233.4029.37
Depreciation52.5055.8756.9658.6560.9461.7163.7466.5769.5469.2790.3499.5098.13
Profit before tax194.63377.44320.31260.03169.55222.69222.89169.34129.44251.82225.36288.8976.60
Tax %15.89%18.75%21.20%22.05%16.96%33.35%34.55%31.73%37.37%34.00%39.01%22.93%96.20%
Net Profit161.20306.67252.40198.11131.98145.24145.89109.7278.14164.10136.49221.001.33
EPS in Rs6.3612.099.867.745.135.645.674.253.026.425.727.092.35

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales2,8133,2823,1442,8673,1563,2583,7464,6195,3955,7976,2047,662
Expenses2,2482,5392,6042,5732,7052,8033,0513,7153,8434,4725,2726,338
Operating Profit5657435412944514556959041,5521,3259321,324
OPM %20%23%17%10%14%14%19%20%29%23%15%17%
Other Income1321322111415665595412317
Interest3630323527282220121148141
Depreciation87103180163173178182210209232262357
Profit before tax4546313611172622915467391,3891,136745843
Tax %29%24%28%18%26%18%19%18%17%20%34%37%
Net Profit324479254931952394426041,141890479523
EPS in Rs12.8218.9610.073.697.719.4917.6023.9944.9434.8518.5821.57
Dividend Payout %16%13%5%0%6%5%9%10%9%11%22%19%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)47.84%-46.97%-63.39%109.68%22.56%84.94%36.65%88.91%-22.00%-46.18%9.19%
Change in YoY Net Profit Growth (%)0.00%-94.81%-16.41%173.06%-87.11%62.37%-48.29%52.26%-110.91%-24.18%55.37%

has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:9%
5 Years:15%
3 Years:12%
TTM:28%
Compounded Profit Growth
10 Years:2%
5 Years:5%
3 Years:-21%
TTM:23%
Stock Price CAGR
10 Years:16%
5 Years:23%
3 Years:16%
1 Year:49%
Return on Equity
10 Years:13%
5 Years:15%
3 Years:11%
Last Year:9%

Last Updated: Unknown

Balance Sheet

Last Updated: December 14, 2024, 3:23 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital25252525252525252525252525
Reserves1,5291,9342,1832,2342,4302,6633,0973,6024,6765,4395,8176,3076,675
Borrowings6176039358677166284655012658071,4811,4381,202
Other Liabilities5266486697657887999611,1301,0991,3491,3003,3263,521
Total Liabilities2,6973,2113,8123,8923,9604,1164,5495,2586,0667,6228,62311,09711,424
Fixed Assets1,1041,3541,8002,0141,9831,9531,9402,0592,0722,4022,7514,5544,523
CWIP129165267129957366133235306140343485
Investments99162613687120310505989626862944
Other Assets1,4551,6831,7291,7231,7462,0032,4222,7563,2543,9245,1055,3395,472
Total Assets2,6973,2113,8123,8923,9604,1164,5495,2586,0667,6228,62311,09711,424

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +3895224687092823415015701,090856806945
Cash from Investing Activity +-260-369-689-218-149-135-165-509-521-851-725-1,215
Cash from Financing Activity +-83-136251-462-159-130-183-137-306427507-553
Net Cash Flow46182929-2675153-76264432588-823

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-52.00140.00-394.00-573.00-265.00-173.00230.00403.00-264.00-806.00931.000.00

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

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days545041575867667155575880
Inventory Days247272293289290286316294337337276350
Days Payable891109714513013715413514010183110
Cash Conversion Cycle212213237200218216228229251293251321
Working Capital Days112981068494107109113119127119150
ROCE %24%28%14%5%9%10%16%19%31%20%11%13%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters46.29%46.29%46.29%46.29%46.29%46.29%46.29%46.29%46.29%46.29%46.30%46.30%
FIIs18.46%12.34%11.02%10.61%10.57%10.46%10.58%10.05%9.86%10.27%10.51%10.85%
DIIs25.24%30.02%32.70%33.49%33.46%33.71%33.74%34.86%34.72%34.19%34.05%33.46%
Government0.22%0.24%0.24%0.24%0.32%0.32%0.32%0.32%0.32%0.32%0.32%0.32%
Public9.80%11.11%9.75%9.37%9.34%9.22%9.06%8.46%8.80%8.93%8.82%9.07%
No. of Shareholders95,2391,06,7791,15,3351,10,8181,11,0431,08,1771,10,29699,88995,93082,80981,16584,753

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Mid-Cap Opportunities Fund - Regular Plan16,101,8932.581819.032,200,0002024-12-20631.9%
Kotak Emerging Equity Fund - Regular Plan9,174,3012.111036.422,200,0002024-12-20317.01%
DSP Mid Cap Fund5,164,7363.05583.462,200,0002024-12-20134.76%
Parag Parikh Flexi Cap Fund3,541,8310.56400.122,200,0002024-12-2060.99%
Nippon India Growth Fund3,100,0001.14350.212,200,0002024-12-2040.91%
DSP Small Cap Fund2,572,7271.91290.642,200,0002024-12-2016.94%
HDFC Balanced Advantage Fund - Regular Plan2,447,0560.31276.442,200,0002024-12-2011.23%
Kotak Equity Opportunities Fund - Regular Plan2,200,0001.03248.532,200,0002024-12-200%
DSP ELSS Tax Saver Fund1,681,0261.17189.912,200,0002024-12-20-23.59%
UTI Flexi Cap Fund1,645,5590.72185.92,200,0002024-12-20-25.2%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue1.001.001.002.002.00
Basic EPS (Rs.)25.8218.5834.8545.0147.77
Diluted EPS (Rs.)21.5718.5834.8545.0147.73
Cash EPS (Rs.)34.9429.7045.07107.0665.05
Book Value[Excl.RevalReserv]/Share (Rs.)304.57233.16219.51371.79288.18
Book Value[Incl.RevalReserv]/Share (Rs.)304.57233.16219.51371.79288.18
Revenue From Operations / Share (Rs.)303.71246.13229.79427.28367.92
PBDIT / Share (Rs.)56.9941.4854.23126.7077.06
PBIT / Share (Rs.)42.9131.1745.07110.2160.40
PBT / Share (Rs.)33.2229.3844.77109.5059.10
Net Profit / Share (Rs.)20.8619.3935.9190.5748.39
NP After MI And SOA / Share (Rs.)21.5718.5834.8589.8747.99
PBDIT Margin (%)18.7616.8523.5929.6520.94
PBIT Margin (%)14.1212.6619.6125.7916.41
PBT Margin (%)10.9311.9319.4825.6216.06
Net Profit Margin (%)6.867.8715.6221.1913.15
NP After MI And SOA Margin (%)7.107.5415.1621.0313.04
Return on Networth / Equity (%)8.648.0616.0924.2416.71
Return on Capital Employeed (%)12.4411.5918.5228.4819.40
Return On Assets (%)4.935.4611.5718.7811.52
Long Term Debt / Equity (X)0.090.110.070.000.02
Total Debt / Equity (X)0.210.240.140.050.11
Asset Turnover Ratio (%)0.780.760.790.910.89
Current Ratio (X)2.352.873.042.962.15
Quick Ratio (X)1.301.911.771.591.16
Inventory Turnover Ratio (X)1.050.940.951.101.22
Dividend Payout Ratio (NP) (%)9.2721.5311.478.9016.67
Dividend Payout Ratio (CP) (%)5.6013.849.087.5212.37
Earning Retention Ratio (%)90.7378.4788.5391.1083.33
Cash Earning Retention Ratio (%)94.4086.1690.9292.4887.63
Interest Coverage Ratio (X)10.4623.11178.91177.7959.01
Interest Coverage Ratio (Post Tax) (X)5.6111.80119.46128.0838.05
Enterprise Value (Cr.)33899.8720234.9027148.8824038.8217785.27
EV / Net Operating Revenue (X)4.403.244.664.443.83
EV / EBITDA (X)23.4519.2319.7314.9618.27
MarketCap / Net Operating Revenue (X)4.083.294.624.453.77
Retention Ratios (%)90.7278.4688.5291.0983.32
Price / BV (X)4.963.524.905.134.83
Price / Net Operating Revenue (X)4.083.294.624.453.77
EarningsYield0.010.020.030.040.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 21, 2024 is: 1,593.62

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 21, 2024, is Undervalued by 0.73% compared to the current share price 1,582.00

Intrinsic Value of as of December 21, 2024 is: 1,560.09

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 21, 2024, is Overvalued by 1.38% compared to the current share price 1,582.00

Last 5 Year EPS CAGR: -2.10%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 16.67%, which is a positive sign.
  2. The company has higher reserves (3,737.38 cr) compared to borrowings (809.62 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (3.83 cr) and profit (415.92 cr) over the years.
  1. The stock has a high average Working Capital Days of 111.50, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 239.08, 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: 6.86%
      • 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: 12.44% (Industry Average ROCE: 16.07%)
      • 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%: 8.64% (Industry Average ROE: 15.77%)
      • 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): 5.61
      • 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: 1.3
      • 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: 64.4 (Industry average Stock P/E: 46.07)
      • 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: 0.21
      • 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

Ipca Laboratories Ltd. is a Public Limited Listed company incorporated on 19/10/1949 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L24239MH1949PLC007837 and registration number is 007837. Currently Company is involved in the business activities of Manufacture of allopathic pharmaceutical preparations. Company’s Total Operating Revenue is Rs. 5399.36 Cr. and Equity Capital is Rs. 25.37 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Pharmaceuticals48, Kandivli Industrial Estate, Kandivli (West), Mumbai Maharashtra 400067ipca@pca.com
http://www.ipca.com
Management
NamePosition Held
Mr. Premchand GodhaExecutive Chairman
Mr. Ajit Kumar JainManaging Director
Mr. Pranay GodhaManaging Director
Mr. Prashant GodhaExecutive Director
Dr.(Mrs.) Manisha PremnathIndependent Director
Mr. Kamal Kishore SethIndependent Director
Dr. Narendra MairpadyIndependent Director
Dr.(Ms.) Swati PatankarIndependent Director
Mr. Vivek ShiralkarIndependent Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 21 December 2024 is ₹1593.62, which is 0.73% higher than the current market price of ₹1,582.00. The stock has a market capitalization of 40,149 Cr. and recorded a high/low of 1,709/1,052 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹6,675 Cr and total liabilities of ₹11,424 Cr.

What is the Market Cap of ?

The Market Cap of is 40,149 Cr..

What is the current Stock Price of as on 21 December 2024?

The current stock price of as on 21 December 2024 is 1,582.

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

In FY 2024-2025, the High / Low of stocks is 1,709/1,052.

What is the Stock P/E of ?

The Stock P/E of is 64.4.

What is the Book Value of ?

The Book Value of is 264.

What is the Dividend Yield of ?

The Dividend Yield of is 0.25 %.

What is the ROCE of ?

The ROCE of is 12.8 %.

What is the ROE of ?

The ROE of is 9.35 %.

What is the Face Value of ?

The Face Value of is 1.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in . Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE