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Last Updated on: 20 April, 2024|Author: Getaka | Social: X Twitter Profile
Stock Ticker - BSE: 532300 | NSE: WOCKPHARMA

Fundamental Analysis of Wockhardt Ltd

Basic Stock Data

Last Updated: April 19, 2024, 1:15 pm

Market Cap 8,931 Cr.
Current Price 583
High / Low630/165
Stock P/E
Book Value 217
Dividend Yield0.00 %
ROCE0.46 %
ROE8.31 %
Face Value 5.00

Data Source: screener.in

Competitors of Wockhardt Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Brooks Laboratories Ltd 268 Cr. 102186/56.5 30.10.00 %27.7 %23.4 % 10.0
SMS Pharmaceuticals Ltd 1,745 Cr. 206218/75.142.0 60.70.15 %3.66 %0.84 % 1.00
Brawn Biotech Ltd 5.50 Cr. 18.426.8/14.4 19.00.00 %5.91 %12.9 % 10.0
Zota Health Care Ltd 1,245 Cr. 482555/271 39.50.21 %2.32 %7.42 % 10.0
Bacil Pharma Ltd 11.1 Cr. 18.818.8/4.68 2.120.00 %12.6 %12.9 % 10.0
Industry Average654.92 Cr165.448.4030.280.07%10.44%11.49%8.20

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales764632860862854655595679699678644753701
Expenses706698739765742688611636654675628681664
Operating Profit58-6612197112-33-1643453167237
OPM %8%-10%14%11%13%-5%-3%6%6%0%2%10%5%
Other Income1018242-16957-138-1-640248
Interest60556469808673708376797677
Depreciation68656461625964656656555555
Profit before tax31-178-6-29-28-347-96-230-105-193-118-35-87
Tax %-4%40%-10%228%107%10%22%10%3%-23%-15%-109%1%
Net Profit32-107-7372-311-75-207-102-237-136-73-86
EPS in Rs1.06-6.46-0.882.36-0.49-17.91-4.65-13.12-6.66-14.44-9.30-5.34-5.76

Last Updated: April 10, 2024, 5:23 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: April 5, 2024, 11:17 am

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales4,3505,6094,8304,4824,4534,0153,9373,5662,8442,7083,2302,6512,776
Expenses2,9963,6063,8053,7723,9594,0023,9353,6042,7252,7712,9322,5502,648
Operating Profit1,3552,0041,026709494132-38119-63298101128
OPM %31%36%21%16%11%0%0%-1%4%-2%9%4%5%
Other Income-394187886766114-238116133975-163-172-32
Interest2692158355129225255265276249299302308
Depreciation115122140145142149150164224246247251221
Profit before tax5771,853891575289-247-641-351-247417-411-624-433
Tax %41%14%5%28%13%9%-4%38%82%-65%32%0%
Net Profit3431,594843413252-226-667-217-43688-279-621-532
EPS in Rs111.8758.9128.3017.45-13.62-42.30-13.52-4.8147.64-16.94-38.80-34.84
Dividend Payout %0%3%13%54%0%-56%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)364.72%-47.11%-51.01%-38.98%-189.68%-195.13%67.47%80.18%1700.00%-140.55%-122.58%
Change in YoY Net Profit Growth (%)0.00%-411.84%-3.89%12.03%-150.70%-5.45%262.60%12.72%1619.82%-1840.55%17.97%

Growth

Compounded Sales Growth
10 Years:-7%
5 Years:-8%
3 Years:-2%
TTM:6%
Compounded Profit Growth
10 Years:%
5 Years:3%
3 Years:%
TTM:-50%
Stock Price CAGR
10 Years:-1%
5 Years:6%
3 Years:9%
1 Year:214%
Return on Equity
10 Years:3%
5 Years:1%
3 Years:4%
Last Year:-8%

Last Updated: April 17, 2024, 11:24 am

Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital55555555555555555555727272
Reserves6552,3513,2283,3623,7203,2812,7972,6192,6163,3213,7773,2823,053
Preference Capital7612992992990002340000
Borrowings3,2812,0701,9062,0102,6774,1603,7483,1413,5822,6742,1982,1842,274
Other Liabilities2,2631,5471,4331,5121,6221,4861,5281,9981,8941,6962,1682,1132,021
Total Liabilities6,2546,0236,6226,9398,0748,9828,1287,8138,1487,7468,2157,6517,420
Fixed Assets2,5711,9902,2952,1232,8092,7732,8883,0583,5023,3433,4623,0424,117
CWIP9024917081,0071,0361,2441,4331,4451,5851,3791,3421,539419
Investments9135773410563214000000
Other Assets2,6893,5393,0433,4684,2284,4033,5933,3093,0603,0243,4113,0702,884
Total Assets6,2546,0236,6226,9398,0748,9828,1287,8138,1487,7468,2157,6517,420

Reserves and Borrowings Chart

Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 1,3521,5321,476355-42-26968183649-287413153
Cash from Investing Activity -3051,074-823-222-105-68463593-1471,471-204-118
Cash from Financing Activity -827-2,246-601-761931,254-769-776-680-1,171-71-315
Net Cash Flow220360525746301-66-500-17813138-280

Free Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow-760.00-297.00-298.00410.00494.0013.002.00-272.00119.00-63.00298.00101.00

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 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days64623660919489130159124104110
Inventory Days211221201250249243174183209256222216
Days Payable129132113136144117122187272223265285
Cash Conversion Cycle146151124175196220141126971576041
Working Capital Days13429439796-167-471226253
ROCE %29%42%18%10%7%-1%-1%-1%0%12%1%-0%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters72.12%69.68%68.04%67.13%67.13%65.75%63.83%60.36%59.31%58.40%55.14%54.93%
FIIs3.10%2.74%2.88%2.95%2.89%2.82%2.98%2.87%2.78%2.60%3.03%4.18%
DIIs0.09%0.08%0.05%0.09%0.09%0.09%0.15%0.22%0.22%0.18%0.21%0.30%
Public24.69%27.50%29.02%29.83%29.89%31.34%33.04%36.55%37.70%38.83%41.62%40.59%
No. of Shareholders1,25,4881,44,8451,61,6251,65,2701,72,4601,80,1701,80,6331,84,9081,82,4931,78,9151,72,9891,61,813

Shareholding Pattern Chart

No. of Shareholders

Wockhardt Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Motilal Oswal S&P BSE Healthcare ETF6420.290.03

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue5.005.005.005.005.00
Basic EPS (Rs.)-38.79-20.2461.95-6.25-17.58
Diluted EPS (Rs.)-38.79-20.2461.68-6.25-17.58
Cash EPS (Rs.)-25.69-2.2284.3716.32-4.57
Book Value[Excl.RevalReserv]/Share (Rs.)254.31291.81339.43276.09271.47
Book Value[Incl.RevalReserv]/Share (Rs.)254.31291.81339.43276.09271.47
Revenue From Operations / Share (Rs.)184.10224.31244.48256.82375.71
PBDIT / Share (Rs.)15.4922.086.2514.2511.80
PBIT / Share (Rs.)-1.944.93-15.96-5.99-3.20
PBT / Share (Rs.)-43.33-28.5481.42-30.89-27.13
Net Profit / Share (Rs.)-43.13-19.3862.16-3.92-19.57
NP After MI And SOA / Share (Rs.)-38.82-16.9461.93-6.25-17.58
PBDIT Margin (%)8.419.842.555.543.14
PBIT Margin (%)-1.052.19-6.52-2.33-0.85
PBT Margin (%)-23.53-12.7233.30-12.02-7.22
Net Profit Margin (%)-23.42-8.6325.42-1.52-5.21
NP After MI And SOA Margin (%)-21.08-7.5525.33-2.43-4.67
Return on Networth / Equity (%)-16.66-6.3320.31-2.59-7.27
Return on Capital Employeed (%)-0.651.40-3.79-1.41-0.71
Return On Assets (%)-7.27-2.968.82-0.84-2.48
Long Term Debt / Equity (X)0.060.090.140.460.61
Total Debt / Equity (X)0.560.480.460.800.82
Asset Turnover Ratio (%)0.160.200.150.140.33
Current Ratio (X)0.640.800.770.690.98
Quick Ratio (X)0.450.560.520.490.69
Inventory Turnover Ratio (X)0.350.470.480.410.75
Interest Coverage Ratio (X)0.731.060.270.570.49
Interest Coverage Ratio (Post Tax) (X)-0.080.670.380.490.18
Enterprise Value (Cr.)4287.885607.726250.834175.127237.48
EV / Net Operating Revenue (X)1.621.742.311.471.74
EV / EBITDA (X)19.2317.6390.2826.4555.41
MarketCap / Net Operating Revenue (X)0.831.181.690.671.18
Price / BV (X)0.660.981.360.711.83
Price / Net Operating Revenue (X)0.831.181.690.671.18
EarningsYield-0.25-0.060.14-0.03-0.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 275.90

The stock is overvalued by 52.68% compared to the current price ₹583

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.

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (2,927.85 cr) compared to borrowings (145.54 cr), indicating strong financial stability.
  1. The stock has a low average ROCE of 9.67%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 40.08, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 136.17, which may not be favorable.
  4. The company has not shown consistent growth in sales (3.23) and profit (-15.69).

Stock Analysis

  • 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 Wockhardt Ltd:
    1. Net Profit Margin: -23.42%
      • 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: -0.65% (Industry Average ROCE: 22.78%)
      • 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%: -16.66% (Industry Average ROE: 18.74%)
      • 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): -0.08
      • 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: 0.45
      • 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 of N/A (Industry average Stock P/E: 32.96)
      • 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: 0.56
      • 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

Wockhardt Ltd. is a Public Limited Listed company incorporated on 08/07/1999 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L24230MH1999PLC120720 and registration number is 120720. Currently Company is involved in the business activities of Manufacture of pharmaceuticals, medicinal chemical and botanical products. Company’s Total Operating Revenue is Rs. 1372.00 Cr. and Equity Capital is Rs. 72.00 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
PharmaceuticalsD-4, MIDC, Chikalthana, Aurangabad Maharashtra 431006investorrelations@wockhardt.com
http://www.wockhardt.com
Management
NamePosition Held
Dr. Habil KhorakiwalaFounder Chairman
Dr. Murtaza KhorakiwalaManaging Director
Dr. Huzaifa KhorakiwalaExecutive Director
Ms. Zahabiya KhorakiwalaNon Executive Director
Mr. Aman MehtaIndependent Director
Mr. D S BrarIndependent Director
Dr. Sanjaya BaruIndependent Director
Mrs. Tasneem MehtaIndependent Director
Mr. Vinesh Kumar JairathIndependent Director
Mr. Akhilesh GuptaIndependent Director

Wockhardt Ltd. Share Price Update

Share PriceValue
Today₹585.00
Previous Day₹573.60

FAQ

What is the latest fair value of Wockhardt Ltd?

The latest fair value of Wockhardt Ltd is 275.90.

What is the Market Cap of Wockhardt Ltd?

The Market Cap of Wockhardt Ltd is 8,931 Cr..

What is the current Stock Price of Wockhardt Ltd as on 19 April 2024?

The current stock price of Wockhardt Ltd as on 19 April 2024 is 583.

What is the High / Low of Wockhardt Ltd stocks in FY 2024?

In FY 2024, the High / Low of Wockhardt Ltd stocks is ₹630/165.

What is the Stock P/E of Wockhardt Ltd?

The Stock P/E of Wockhardt Ltd is .

What is the Book Value of Wockhardt Ltd?

The Book Value of Wockhardt Ltd is 217.

What is the Dividend Yield of Wockhardt Ltd?

The Dividend Yield of Wockhardt Ltd is 0.00 %.

What is the ROCE of Wockhardt Ltd?

The ROCE of Wockhardt Ltd is 0.46 %.

What is the ROE of Wockhardt Ltd?

The ROE of Wockhardt Ltd is 8.31 %.

What is the Face Value of Wockhardt Ltd?

The Face Value of Wockhardt Ltd is 5.00.

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 Wockhardt 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