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Last Updated on: 04 March, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Themis Medicare Ltd

About the Company - Themis Medicare Ltd

Themis Medicare Ltd. is a Public Limited Listed company incorporated on 31/05/1969 and has its registered office in the State of Gujarat, India. Company’s Corporate Identification Number(CIN) is L24110GJ1969PLC001590 and registration number is 001590. Currently Company is involved in the business activities of Manufacture of pharmaceuticals, medicinal chemical and botanical products. Company’s Total Operating Revenue is Rs. 394.61 Cr. and Equity Capital is Rs. 9.20 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
PharmaceuticalsPlot No.69-A, GIDC Industrial Estate, Valsad District Gujarat 396195themis@themismedicare.com
http://www.themismedicare.com
Management
NamePosition Held
Dr. Dinesh S PatelChairman & Executive Director
Dr. Sachin D PatelManaging Director & CEO
Mr. Rajneesh AnandNon Executive Director
Mr. Hariharan SubramaniamIndependent Director
Ms. Manjul SandhuIndependent Director
Mr. Bhaskar V IyerIndependent Director
Mr. Vijay G AgarwalIndependent Director

Themis Medicare Ltd. Share Price Update

Share PriceValue
Today₹204.10
Previous Day₹204.10

Basic Stock Data of Themis Medicare Ltd

Market Cap 2,271 Cr.
Current Price 247
High / Low266/109
Stock P/E50.1
Book Value 39.6
Dividend Yield0.19 %
ROCE19.7 %
ROE17.3 %
Face Value 1.00

Data Source: screener.in

Competitors of Themis Medicare Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Nectar Lifescience Ltd 858 Cr. 38.245.7/14.4106 47.60.00 %0.18 %6.01 % 1.00
Glenmark Pharmaceuticals Ltd 26,057 Cr. 923942/414210 3310.27 %14.2 %5.44 % 1.00
Wockhardt Ltd 8,549 Cr. 593630/145 2170.00 %0.46 %8.31 % 5.00
Jagsonpal Pharmaceuticals Ltd 813 Cr. 309515/28033.2 64.41.62 %25.6 %19.9 % 5.00
Caplin Point Laboratories Ltd 11,711 Cr. 1,5421,619/57526.8 2730.29 %26.3 %25.6 % 2.00
Industry Average9,597.60 Cr681.0475.20186.600.44%13.35%13.05%2.80

Themis Medicare Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales55666211210795809491898097105
Expenses45505072847865747074707592
Operating Profit10151240231714202115102212
OPM %18%23%20%36%22%18%18%22%23%17%13%22%12%
Other Income5425444667567
Interest4333222222322
Depreciation2222222233333
Profit before tax914940231714222318102314
Tax %5%15%13%23%18%28%31%21%21%24%18%19%19%
Net Profit81283119121017181381811
EPS in Rs0.881.280.883.392.101.351.081.891.931.450.911.981.23

Themis Medicare Ltd Quarterly Chart

Themis Medicare Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales158174195202232217210184202231395354364
Expenses171157171184194184184181166181299287311
Operating Profit-1317241838332523649966753
OPM %-8%10%12%9%16%15%12%1%18%21%24%19%14%
Other Income3351334651213182524
Interest1415161512121212131391010
Depreciation89911127788991012
Profit before tax-31-445171811-132741957355
Tax %-4%-56%32%-20%11%9%1%15%8%14%23%22%
Net Profit-32-636161611-112536735745
EPS in Rs-4.03-0.790.320.731.911.771.23-1.172.703.887.926.184.92
Dividend Payout %-2%-11%28%25%9%-0%-0%-0%6%11%6%8%

Themis Medicare Ltd Profit & Loss Yearly Chart

YoY Net Profit Growth
Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)81.25%150.00%100.00%166.67%0.00%-31.25%-200.00%327.27%44.00%102.78%-21.92%
Change in YoY Net Profit Growth (%)0.00%68.75%-50.00%66.67%-166.67%-31.25%-168.75%527.27%-283.27%58.78%-124.70%

Themis Medicare Ltd Growth

Compounded Sales Growth
10 Years:7%
5 Years:11%
3 Years:21%
TTM:3%
Compounded Profit Growth
10 Years:27%
5 Years:37%
3 Years:30%
TTM:-23%
Stock Price CAGR
10 Years:45%
5 Years:53%
3 Years:99%
1 Year:103%
Return on Equity
10 Years:15%
5 Years:16%
3 Years:21%
Last Year:17%

Themis Medicare Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital8888999999999
Reserves5043485166143160149174209278330355
Borrowings15115514814012882808210087809295
Other Liabilities71657977735456746765618290
Total Liabilities280272284277275289305314350371428514548
Fixed Assets134124121122117124126123116133144162166
CWIP711124692282333
Investments144562324273545567080
Other Assets139134147146146133153162191191225279300
Total Assets280272284277275289305314350371428514548

Themis Medicare Ltd Reserves and Borrowings Chart

Themis Medicare Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity -14481926-28110573416
Cash from Investing Activity -12-5-7-6-7-4-0-4-5-16-16-24
Cash from Financing Activity 5292-18-135-9-107-26-180
Net Cash Flow-21294-55-0-1-32161-8

Themis Medicare Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days111687482758112014518612393149
Inventory Days174246280246243250253287315272150213
Days Payable21723224023714516315618717114379123
Cash Conversion Cycle688211491172168216244330251164239
Working Capital Days1108781786474131132176152124176
ROCE %-8%5%10%9%15%13%10%-1%15%18%30%20%

Themis Medicare Ltd Financial Efficiency Indicators Chart

Themis Medicare Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters67.26%67.22%67.18%67.18%67.18%67.18%67.17%67.17%67.16%67.16%67.16%67.16%
FIIs0.00%0.00%0.00%0.00%0.00%0.00%0.02%0.02%0.06%0.04%0.05%0.01%
DIIs0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%
Public32.73%32.77%32.81%32.81%32.81%32.81%32.80%32.78%32.78%32.80%32.77%32.82%
No. of Shareholders5,8586,8226,5116,2125,8915,9156,1266,3625,9276,0076,97011,244

Themis Medicare Ltd Shareholding Pattern Chart

No. of Themis Medicare Ltd Shareholders

Themis Medicare Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Motilal Oswal S&P BSE Healthcare ETF3220.080.01

Themis Medicare Ltd ROCE Trend

Themis Medicare Ltd EPS Trend

Themis Medicare Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)61.8379.2238.8626.97-11.72
Diluted EPS (Rs.)61.7379.0738.8426.97-11.72
Cash EPS (Rs.)58.4477.1937.8526.28-5.49
Book Value[Excl.RevalReserv]/Share (Rs.)368.85312.48237.80199.20172.18
Book Value[Incl.RevalReserv]/Share (Rs.)368.85312.48237.80199.20172.18
Revenue From Operations / Share (Rs.)385.02428.91251.04219.40200.15
PBDIT / Share (Rs.)85.80111.0657.8142.585.39
PBIT / Share (Rs.)74.39100.7548.5033.58-3.31
PBT / Share (Rs.)64.0091.2234.6719.56-16.19
Net Profit / Share (Rs.)47.0366.8928.5417.28-14.19
NP After MI And SOA / Share (Rs.)61.8379.2238.8626.97-11.70
PBDIT Margin (%)22.2825.8923.0219.402.69
PBIT Margin (%)19.3223.4919.3215.30-1.65
PBT Margin (%)16.6221.2613.818.91-8.08
Net Profit Margin (%)12.2115.5911.377.87-7.08
NP After MI And SOA Margin (%)16.0518.4615.4712.29-5.84
Return on Networth / Equity (%)16.7625.3516.3313.54-6.79
Return on Capital Employeed (%)18.2629.1218.3515.81-1.81
Return On Assets (%)11.0717.039.617.08-3.41
Long Term Debt / Equity (X)0.080.080.100.060.05
Total Debt / Equity (X)0.270.270.360.480.48
Asset Turnover Ratio (%)0.801.050.670.620.60
Current Ratio (X)1.901.961.451.171.02
Quick Ratio (X)1.411.400.980.810.65
Inventory Turnover Ratio (X)1.481.901.200.950.95
Dividend Payout Ratio (NP) (%)8.085.424.500.000.00
Dividend Payout Ratio (CP) (%)6.824.803.630.000.00
Earning Retention Ratio (%)91.9294.5895.500.000.00
Cash Earning Retention Ratio (%)93.1895.2096.370.000.00
Interest Coverage Ratio (X)8.2611.644.183.040.41
Interest Coverage Ratio (Post Tax) (X)5.538.013.062.23-0.10
Enterprise Value (Cr.)1146.53910.58312.04303.68344.91
EV / Net Operating Revenue (X)3.242.311.351.511.88
EV / EBITDA (X)14.528.915.877.7669.73
MarketCap / Net Operating Revenue (X)3.032.181.121.091.48
Retention Ratios (%)91.9194.5795.490.000.00
Price / BV (X)3.162.991.181.201.72
Price / Net Operating Revenue (X)3.032.181.121.091.48
EarningsYield0.050.080.130.11-0.03

Themis Medicare Ltd Profitability Ratios (%)

Themis Medicare Ltd Liquidity Ratios

Themis Medicare Ltd Liquidity Ratios (%)

Themis Medicare Ltd Interest Coverage Ratios (X)

Themis Medicare Ltd Valuation Ratios

Fair Value / Intrinsic Value of Themis Medicare Ltd

Fair Value: ₹343.88

The stock is undervalued by 39.22% compared to the current price ₹247

*Investments are subject to market risks

Strength and Weakness of Themis Medicare Ltd

StrengthWeakness
  1. The company has higher reserves (158.15 cr) compared to borrowings (109.23 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (239.85 cr) and profit (22.92 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 50.78 and average Dividend Yield of 15.16%.
  2. The stock has a low average ROCE of 11.33%, which may not be favorable.
  3. The stock has a high average Working Capital Days of 115.42, which may not be favorable.
  4. The stock has a high average Cash Conversion Cycle of 178.25, which may not be favorable.

Should I Buy Themis Medicare Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Themis Medicare Ltd:
    1. Net Profit Margin: 12.21%
      • 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: 18.26% (Industry Average ROCE: 15.41%)
      • 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. Interest Coverage Ratio (Post Tax): 5.53
      • 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.
    4. Quick Ratio: 1.41
      • 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.
    5. ✗ Stock P/E: 49.4 (Industry average Stock P/E: 18.72)
      • 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.
    6. ✓ Total Debt / Equity: 0.27
      • 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 suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

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 Themis Medicare 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