Divi's Lab

₹3439.6 -60.1 | 1.7%

WEBSITE BSE:532488 NSE : DIVI'S LAB. 09 Jun, 13:38

Market Cap ₹91309 Cr.

Stock P/E 50.0

P/B 7.2

Current Price ₹3439.6

Book Value ₹ 480.9

Face Value 2

52W High ₹3976.7

Dividend Yield 0.87%

52W Low ₹ 2730

Edit Ratio

Divi's Lab Research see more...

Overview Inc. Year: 1990Industry: Pharmaceuticals & Drugs

Divi's Laboratories Ltd manufactures Active Pharma Ingredients (APIs) and intermediates. The organization in a matter of short time multiplied their breadth of operations to offer whole turnkey solutions to the domestic Indian pharmaceutical enterprise.They are actively concerned in growing trade, patent non-infringing approaches for APIs, for the inventors to control late life cycle and leading customary drug producers.The company's product variety includes Bupropion Hbr,Bupropion HCL,Capecitabine,Carbidopa,Desloratadine,Dexlansoprazole /(R)-Lansoprazole, Irbesartan, Levodopa, Niacin, Sibutramine HCL, Valacyclovir HCL, Valsartan, Venlafaxine HCL, VerapamiL HCL, Vigabatrin, Zolpidem Tartrate ,and so forth.

Divi's Lab Share Price

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Price

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Peer Comparison

Divi's Lab Quarterly Results

#(Fig in Cr.)	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Net Sales	1701	1788	1961	1988	2493	2518	2255	1855	1708	1951
Other Income	19	24	36	19	17	52	88	80	114	66
Total Income	1721	1812	1997	2007	2510	2571	2343	1935	1822	2017
Total Expenditure	1010	1072	1109	1169	1396	1414	1408	1234	1299	1463
Operating Profit	711	740	888	837	1114	1157	935	701	523	554
Interest	0	0	0	0	0	0	0	0	0	0
Depreciation	68	70	73	77	80	81	84	86	87	87
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	642	669	814	760	1034	1076	851	615	436	466
Provision for Tax	171	167	257	153	131	181	149	122	129	146
Profit After Tax	471	502	557	606	902	895	702	494	307	321
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	471	502	557	606	902	895	702	494	307	321
Adjusted Earnings Per Share	17.7	18.9	21	22.8	34	33.7	26.4	18.6	11.6	12.1

Divi's Lab Profit & Loss

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
Net Sales	1864	2145	2532	3115	3776	4064	3891	4946	5394	6969	8960	7769
Other Income	56	45	71	45	97	75	113	156	190	63	116	348
Total Income	1920	2190	2603	3160	3874	4139	4005	5102	5584	7032	9076	8117
Total Expenditure	1173	1329	1517	1949	2358	2617	2629	3073	3571	4108	5079	5404
Operating Profit	747	861	1086	1211	1516	1522	1376	2029	2013	2924	3997	2713
Interest	5	3	3	3	5	3	2	5	7	2	2	0
Depreciation	62	77	92	136	118	123	142	169	186	256	312	344
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	681	781	991	1072	1393	1395	1231	1855	1819	2666	3684	2368
Provision for Tax	147	179	218	221	267	335	354	502	443	682	723	546
Profit After Tax	533	602	773	852	1126	1060	877	1353	1377	1984	2960	1824
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	533	602	773	852	1126	1060	877	1353	1377	1984	2960	1824
Adjusted Earnings Per Share	20.1	22.7	29.1	32.1	42.4	39.9	33	51	51.9	74.8	111.5	68.7

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	29%	22%	17%	17%
Operating Profit CAGR	37%	25%	21%	18%
PAT CAGR	49%	30%	23%	19%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-2%	12%	27%	22%
ROE Average	28%	24%	22%	24%
ROCE Average	35%	31%	29%	31%

Divi's Lab Balance Sheet

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Shareholder's Funds	2132	2501	2963	3495	4293	5357	5925	6957	7310	9295	11728
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	3	2	2	1	0	0	0	0	0	0	0
Other Non-Current Liabilities	69	468	648	841	85	1412	1769	991	295	364	437
Total Current Liabilities	554	554	627	776	520	659	653	847	1821	1728	2454
Total Liabilities	2757	3525	4241	5112	4898	7429	8347	8795	9425	11387	14619
Fixed Assets	738	909	1222	1309	1439	1559	1996	2088	2782	3704	4325
Other Non-Current Assets	267	752	763	1031	432	1859	1816	2057	1070	892	684
Total Current Assets	1751	1864	2256	2772	3027	4011	4535	4650	5574	6791	9610
Total Assets	2757	3525	4241	5112	4898	7429	8347	8795	9425	11387	14619

Divi's Lab Cash Flow

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Opening Cash & Cash Equivalents	14	17	12	15	18	-17	-4	-21	2	43	2030
Cash Flow from Operating Activities	338	480	557	826	1038	1150	776	954	1216	1947	1912
Cash Flow from Investing Activities	-204	-255	-305	-521	-406	-1140	-478	-685	-83	75	-2195
Cash Flow from Financing Activities	-131	-231	-248	-303	-631	2	-314	-246	-1091	-35	-532
Net Cash Inflow / Outflow	3	-5	3	3	0	13	-17	23	41	1987	-816
Closing Cash & Cash Equivalent	17	12	15	18	18	-4	-21	2	43	2030	1215

Divi's Lab Ratios

#	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Earnings Per Share (Rs)	20.09	22.68	29.13	32.08	42.41	39.95	33.04	50.96	51.86	74.75	111.53
CEPS(Rs)	22.43	25.58	32.6	37.2	46.86	44.59	38.41	57.32	58.87	84.38	123.26
DPS(Rs)	13	15	20	20	10	10	10	16	16	20	30
Book NAV/Share(Rs)	80.29	94.2	111.63	131.67	161.73	201.82	223.2	262.09	275.38	350.15	441.82
Core EBITDA Margin(%)	36.74	37.77	39.81	37.12	37.28	35.24	32.27	37.6	33.41	40.92	43.18
EBIT Margin(%)	36.42	36.28	38.97	34.21	36.73	34.06	31.53	37.33	33.48	38.16	41
Pre Tax Margin(%)	36.17	36.17	38.85	34.12	36.61	33.98	31.47	37.24	33.35	38.13	40.98
PAT Margin (%)	28.34	27.87	30.32	27.1	29.59	25.82	22.41	27.15	25.23	28.38	32.94
Cash Profit Margin (%)	31.64	31.43	33.93	31.43	32.69	28.83	26.06	30.54	28.64	32.04	36.4
ROA(%)	21.2	19.17	19.92	18.21	22.49	17.21	11.12	15.78	15.11	19.07	22.77
ROE(%)	27.15	25.99	28.31	26.37	28.91	21.98	15.55	21	19.3	23.9	28.16
ROCE(%)	34.2	33.21	36.04	33.06	35.57	28.75	21.68	28.5	25.36	32.07	35.06
Receivable days	83.45	85.08	88.42	85.12	77.83	79.19	89.33	79.78	86.18	80.66	83.26
Inventory Days	121.31	127.96	126.52	121.69	113.7	112.34	124.56	114.41	121.62	104.66	100.99
Payable days	67.7	73.12	62.32	56.95	55.71	80.72	101.95	90.34	93.73	106.32	95.88
PER(x)	19.08	21.69	23.5	27.9	23.23	15.62	32.98	33.42	38.33	48.56	39.49
Price/Book(x)	4.77	5.22	6.13	6.8	6.09	3.09	4.88	6.5	7.22	10.37	9.97
Dividend Yield(%)	1.7	1.52	1.46	1.12	1.02	1.6	0.92	0.94	0.81	0.55	0.68
EV/Net Sales(x)	5.47	6.08	7.17	7.62	6.92	4.07	7.42	9.14	9.76	13.52	12.73
EV/Core EBITDA(x)	13.65	15.16	16.71	19.59	17.23	10.86	20.98	22.28	26.17	32.22	28.54
Net Sales Growth(%)	41.57	15.07	18.06	23.02	21.23	7.63	-4.25	27.1	9.06	29.2	28.56
EBIT Growth(%)	44.37	14.39	26.8	8.16	30.01	0.08	-11.8	50.75	-1.78	46.07	38.13
PAT Growth(%)	24.23	12.89	28.46	10.11	32.21	-5.81	-17.3	54.24	1.76	44.15	49.19
EPS Growth(%)	24.1	12.89	28.46	10.11	32.21	-5.8	-17.3	54.24	1.76	44.15	49.19
Debt/Equity(x)	0.03	0.01	0.01	0.01	0.01	0.01	0.01	0.02	0	0	0
Current Ratio(x)	3.16	3.36	3.6	3.57	5.83	6.08	6.94	5.49	3.06	3.93	3.92
Quick Ratio(x)	1.94	1.85	2.11	2.08	3.5	4.08	4.87	3.4	2.04	2.69	2.76
Interest Cover(x)	148.53	302.96	336.24	373.59	294.75	416.28	520.55	397.38	255.83	1270.54	1842.75
Total Debt/Mcap(x)	0.01	0	0	0	0	0	0	0	0	0	0

Divi's Lab Shareholding Pattern

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	51.95	51.95	51.95	51.95	51.95	51.94	51.94	51.94	51.94	51.94
FII	20.37	19.87	20.6	20.7	19.3	18.45	16.52	15.4	15.14	14.67
DII	16.86	16.74	16.56	16.36	17.73	18.32	19.98	20.78	20.67	21.08
Public	10.83	11.45	10.89	11	11.02	11.28	11.56	11.88	12.24	12.31
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	13.79	13.79	13.79	13.79	13.79	13.79	13.79	13.79	13.79	13.79
FII	5.41	5.27	5.47	5.5	5.12	4.9	4.39	4.09	4.02	3.89
DII	4.48	4.44	4.4	4.34	4.71	4.86	5.3	5.52	5.49	5.59
Public	2.87	3.04	2.89	2.92	2.93	3	3.07	3.15	3.25	3.27
Others	0	0	0	0	0	0	0	0	0	0
Total	26.55	26.55	26.55	26.55	26.55	26.55	26.55	26.55	26.55	26.55

Pros

Company has delivered good profit growth of 22% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 24%
Debtor days have improved from 106.32 to 95.88days.
Company is almost debt free.

Cons

Stock is trading at 7.2 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.