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Last Updated on: 27 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Morepen Laboratories Ltd

About the Company - Morepen Laboratories Ltd

Morepen Laboratories Ltd. is a Public Limited Listed company incorporated on 01/12/1984 and has its registered office in the State of Himachal Pradesh, India. Company’s Corporate Identification Number(CIN) is L24231HP1984PLC006028 and registration number is 006028. Currently Company is involved in the business activities of Manufacture of pharmaceuticals, medicinal chemical and botanical products. Company’s Total Operating Revenue is Rs. 1449.27 Cr. and Equity Capital is Rs. 95.56 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
PharmaceuticalsMorepen Village, Nalagarh Road, Solan District Himachal Pradesh 173205investors@morepen.com
http://www.morepen.com
Management
NamePosition Held
Mr. Sushil SuriChairman & Managing Director
Mr. Sanjay SuriWhole Time Director
Mr. Manoj JoshiIndependent Director
Mr. Bhupender Raj WadhwaIndependent Director
Mr. Sukhcharan SinghIndependent Director
Mr. Praveen Kumar DuttIndependent Director
Mrs. SavitaIndependent Director

Morepen Laboratories Ltd. Share Price Update

Share PriceValue
Today₹48.97
Previous Day₹48.92

Basic Stock Data of Morepen Laboratories Ltd

Market Cap 2,641 Cr.
Current Price 51.7
High / Low56.4/24.0
Stock P/E34.7
Book Value 15.4
Dividend Yield0.00 %
ROCE8.57 %
ROE5.93 %
Face Value 2.00

Data Source: screener.in

Competitors of Morepen Laboratories Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Zota Health Care Ltd 1,371 Cr. 530555/270 39.50.19 %2.32 %7.42 % 10.0
Aarey Drugs & Pharmaceuticals Ltd 122 Cr. 48.068.0/21.928.9 46.80.00 %6.38 %3.33 % 10.0
Neuland Laboratories Ltd 8,963 Cr. 6,9867,342/1,54528.3 8830.14 %20.8 %17.9 % 10.0
Aarti Pharmalabs Ltd 4,653 Cr. 513595/26924.0 1830.38 %16.1 %13.2 % 5.00
Nectar Lifescience Ltd 874 Cr. 39.045.7/14.4108 47.60.00 %0.18 %6.01 % 1.00
Industry Average3,196.60 Cr1,623.2037.84239.980.14%9.16%9.57%7.20

Morepen Laboratories Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales336307287387395396368302403348364401422
Expenses305278256343353364350288374328348375388
Operating Profit32303044423219152921162634
OPM %9%10%11%11%11%8%5%5%7%6%4%7%8%
Other Income4342333111323
Interest01-00-911001100
Depreciation8877777777788
Profit before tax2824283947271482214112129
Tax %1%0%3%21%20%21%13%32%29%36%26%29%26%
Net Profit27242730372212616981521
EPS in Rs0.600.530.590.680.830.480.260.110.310.180.160.290.42

Morepen Laboratories Ltd Quarterly Chart

Morepen Laboratories Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales2893263674014855956077698531,1881,5471,4181,535
Expenses2702953183524245345427017851,0701,4101,3381,439
Operating Profit1931494862616568691191378096
OPM %7%10%13%12%13%10%11%9%8%10%9%6%6%
Other Income13641-344491210610
Interest8121091084222-722
Depreciation48464639353434403730282830
Profit before tax-24-21-321324302939991275674
Tax %-0%-0%-0%6%-1%0%0%1%14%1%20%31%
Net Profit-24-21-321324302934971023953
EPS in Rs-0.53-0.46-0.060.050.280.530.660.640.752.162.130.761.05
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%0%

Morepen Laboratories Ltd Profit & Loss Yearly Chart

Morepen Laboratories Ltd Growth

Compounded Sales Growth
10 Years:16%
5 Years:19%
3 Years:18%
TTM:15%
Compounded Profit Growth
10 Years:14%
5 Years:6%
3 Years:5%
TTM:78%
Stock Price CAGR
10 Years:31%
5 Years:24%
3 Years:22%
1 Year:108%
Return on Equity
10 Years:13%
5 Years:15%
3 Years:16%
Last Year:6%

Morepen Laboratories Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital9090909090909090909096102102
Reserves11190887891106136163194291457651687
Preference Capital1201201201201200000000
Borrowings12111189816816913413213317192528
Other Liabilities225215223240276173226230246460499332377
Total Liabilities5475064904895245385866156638581,0701,1101,194
Fixed Assets452409368322297272264236216225252267287
CWIP0000000002141720
Investments4400000011000
Other Assets9193121167227266321379446631804827886
Total Assets5475064904895245385866156638581,0701,1101,194

Morepen Laboratories Ltd Reserves and Borrowings Chart

Morepen Laboratories Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 27343451504163171151-60-91
Cash from Investing Activity -3-3-1-32-27-14-27-13-12-70-32-47
Cash from Financing Activity -22-30-29-19-27-24-38-054766144
Net Cash Flow214-0-43-14428-266

Morepen Laboratories Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days444442516657736459565968
Inventory Days776856555165766991829687
Days Payable129104116126140125173124113989087
Cash Conversion Cycle-88-17-20-23-3-24937406569
Working Capital Days-25-19-20-18-10-86-62-30-32259104
ROCE %-6%-3%1%3%8%9%9%8%10%25%25%9%

Morepen Laboratories Ltd Financial Efficiency Indicators Chart

Morepen Laboratories Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters34.54%34.54%34.54%34.54%38.38%36.74%38.22%38.22%38.22%38.22%38.22%38.22%
FIIs0.68%0.68%0.86%0.91%0.96%0.95%1.15%0.89%0.96%1.00%1.29%2.11%
DIIs2.89%2.05%1.26%1.16%1.07%4.08%3.98%3.74%2.93%2.32%2.27%2.21%
Government0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.01%0.01%0.01%0.01%0.01%
Public61.89%62.73%63.34%63.39%59.59%58.24%56.63%57.15%57.88%58.45%58.20%57.46%
No. of Shareholders1,65,6092,30,6112,44,9242,55,1552,61,4372,87,1152,90,3673,06,0303,06,1503,01,8323,04,0013,04,289

Morepen Laboratories Ltd Shareholding Pattern Chart

No. of Morepen Laboratories Ltd Shareholders

Morepen Laboratories Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Motilal Oswal S&P BSE Healthcare ETF28730.150.01

Morepen Laboratories Ltd ROCE Trend

Morepen Laboratories Ltd EPS Trend

Morepen Laboratories Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue2.002.002.002.002.00
Basic EPS (Rs.)0.772.262.160.750.64
Diluted EPS (Rs.)0.771.962.160.750.64
Cash EPS (Rs.)1.302.712.831.571.53
Book Value[Excl.RevalReserv]/Share (Rs.)14.7212.109.436.305.62
Book Value[Incl.RevalReserv]/Share (Rs.)14.7212.109.436.305.62
Revenue From Operations / Share (Rs.)27.7332.3726.4118.9717.09
PBDIT / Share (Rs.)1.683.082.901.731.58
PBIT / Share (Rs.)1.132.502.230.910.69
PBT / Share (Rs.)1.092.652.190.860.64
Net Profit / Share (Rs.)0.752.132.160.740.64
NP After MI And SOA / Share (Rs.)0.752.132.160.740.64
PBDIT Margin (%)6.049.5010.999.149.26
PBIT Margin (%)4.077.718.444.814.07
PBT Margin (%)3.938.198.294.583.79
Net Profit Margin (%)2.726.578.173.933.75
NP After MI And SOA Margin (%)2.726.578.173.933.75
Return on Networth / Equity (%)5.1317.5722.8511.8211.39
Return on Capital Employeed (%)7.3119.4422.0713.1611.33
Return On Assets (%)3.489.5011.315.064.68
Long Term Debt / Equity (X)0.000.000.000.000.01
Total Debt / Equity (X)0.030.030.030.040.04
Asset Turnover Ratio (%)1.301.601.471.241.19
Current Ratio (X)2.351.611.301.060.88
Quick Ratio (X)1.641.000.870.660.60
Inventory Turnover Ratio (X)3.103.534.013.654.09
Interest Coverage Ratio (X)43.25-19.9673.0239.3033.74
Interest Coverage Ratio (Post Tax) (X)20.53-12.8155.2917.9214.67
Enterprise Value (Cr.)1280.991720.861393.88402.04754.04
EV / Net Operating Revenue (X)0.901.111.170.470.98
EV / EBITDA (X)14.9511.7110.675.1510.59
MarketCap / Net Operating Revenue (X)0.921.131.220.501.01
Price / BV (X)1.743.023.401.513.07
Price / Net Operating Revenue (X)0.921.131.220.501.01
EarningsYield0.020.050.060.070.03

Morepen Laboratories Ltd Profitability Ratios (%)

Morepen Laboratories Ltd Liquidity Ratios

Morepen Laboratories Ltd Liquidity Ratios (%)

Morepen Laboratories Ltd Interest Coverage Ratios (%)

Morepen Laboratories Ltd Valuation Ratios

Fair Value of Morepen Laboratories Ltd Stock

Fair Value: ₹32.32

The stock is overvalued by 37.48% compared to the current price ₹51.7

*Investments are subject to market risks

Strength and Weakness of Morepen Laboratories Ltd Stock

StrengthWeakness
  1. The stock is trading at a low valuation with an average P/B ratio of 1.49 and average Dividend Yield of 5.82%.
  2. The stock has a low average Working Capital Days of -7.33, which is a positive sign.
  3. The company has higher reserves (241.77 cr) compared to borrowings (46.15 cr), indicating strong financial stability.
  4. The company has shown consistent growth in sales (361.23 cr) and profit (34.23 cr) over the years.
  1. The stock has a low average ROCE of 8.17%, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 11.08, which may not be favorable.

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 Morepen Laboratories Ltd. 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