BSE: 524202 | NSE: | Pharmaceuticals & Drugs | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Lactose (India) Ltd is a average quality company.
The key valuation ratios of Lactose (India) Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Lactose (India) Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 7.6% | 14.8% | 14.8% | 4.1% | 9.1% | 7.8% | 2.8% | 10.2% | 9.3% | 18.2% | - |
| Value Creation Index ⓘ | -0.5 | 0.1 | 0.1 | -0.7 | -0.4 | -0.4 | -0.8 | -0.3 | -0.3 | 0.3 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 23.7 | 34.5 | 35.7 | 31.1 | 40.6 | 40.1 | 35 | 45.9 | 65.8 | 114 | 122 |
| Sales YoY Gr. | - | 45.4% | 3.5% | -12.8% | 30.6% | -1.4% | -12.7% | 31.4% | 43.2% | 73.1% | - |
| Adj EPS ⓘ | 0.5 | 2.5 | 2.9 | -1.3 | 0.6 | 0.1 | -2.2 | 1.8 | 0.9 | 5.1 | 7.4 |
| YoY Gr. | - | 377.4% | 13.4% | -146.3% | NA | -88.7% | -3242.9% | NA | -52.2% | 487.4% | - |
| BVPS (₹) ⓘ | 18.9 | 22.5 | 27.6 | 31.1 | 33.6 | 33.7 | 30.2 | 31.2 | 32.2 | 37.4 | 40.8 |
| Adj Net Profit ⓘ | 0.5 | 2.2 | 2.8 | -1.3 | 0.6 | 0.1 | -2.5 | 2.3 | 1.1 | 6.4 | 9 |
| Cash Flow from Ops. ⓘ | 12.7 | 1.5 | 7.6 | 0.2 | 4.9 | 7.4 | 2.2 | 8.5 | 7.9 | 8.8 | - |
| Debt/CF from Ops. ⓘ | 3.1 | 25.3 | 4.6 | 238.5 | 7.4 | 5.3 | 21.3 | 4.9 | 4.9 | 4.3 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 19.1% | 22.9% | 48.2% | 73.1% | ||||
| Adj EPS ⓘ | 28.6% | 52.5% | NA | 487.4% | ||||
| BVPSⓘ | 7.9% | 2.2% | 7.5% | 16.1% | ||||
| Share Price | 23.6% | 66.9% | 79.9% | 120.4% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 2.9 | 12.3 | 11.8 | -4.6 | 1.9 | 0.2 | -7.3 | 6.2 | 2.8 | 14.7 | 18.9 |
| Op. Profit Mgn % ⓘ | 21.6 | 30.4 | 31.9 | 18.1 | 23.7 | 23.2 | 17.8 | 26.7 | 17.3 | 16.7 | 18.4 |
| Net Profit Mgn % ⓘ | 1.9 | 6.5 | 7.8 | -4.3 | 1.6 | 0.2 | -7.2 | 5 | 1.7 | 5.6 | 7.7 |
| Debt to Equity ⓘ | 2.5 | 1.9 | 1.3 | 1.2 | 1.1 | 1.1 | 1.3 | 1.1 | 1 | 0.8 | 0.5 |
| Working Cap Days ⓘ | 235 | 187 | 207 | 211 | 158 | 177 | 219 | 199 | 201 | 142 | 62 |
| Cash Conv. Cycle ⓘ | 8 | 42 | 57 | 68 | 64 | 91 | 123 | 100 | 86 | 56 | 18 |
Return on Equity has increased versus last 3 years average to 18.90%
Sales growth is growing at healthy rate in last 3 years 48.24%
Debt to equity has declined versus last 3 years average to 0.81
Sales growth is good in last 4 quarters at 34.14%
Net Profit has been subdued in last 3 years 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 7.4 | - |
| TTM Sales (₹ Cr.) | 122 | - |
| BVPS (₹.) ⓘ | 40.8 | - |
| Reserves (₹ Cr.) ⓘ | 39 | - |
| P/BV ⓘ | 5.58 | - |
| PE ⓘ | 30.74 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 95.15 / 247.40 |
| All Time Low / High (₹) | 0.25 / 247.40 |
| Market Cap (₹ Cr.) | 287 |
| Equity (₹ Cr.) | 12.6 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 44.3 |
| Pledged * | 0.52 | 0.52 | 48.34 | 48.34 | 0.00 | 26.01 | 26.06 | 26.07 | 26.07 | 26.07 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 24 | 34 | 36 | 31 | 41 | 40 | 35 | 46 | 66 | 114 |
| Operating Expenses ⓘ | 19 | 24 | 24 | 25 | 31 | 31 | 29 | 34 | 54 | 95 |
| Manufacturing Costs | 5 | 7 | 7 | 7 | 9 | 9 | 9 | 10 | 18 | 24 |
| Material Costs | 6 | 7 | 5 | 6 | 6 | 6 | 4 | 7 | 24 | 51 |
| Employee Cost | 6 | 7 | 8 | 9 | 11 | 12 | 11 | 12 | 7 | 9 |
| Other Costs ⓘ | 2 | 4 | 3 | 4 | 4 | 4 | 5 | 5 | 6 | 11 |
| Operating Profit ⓘ | 5 | 10 | 11 | 6 | 10 | 9 | 6 | 12 | 11 | 19 |
| Operating Profit Margin (%) | 21.6% | 30.2% | 31.9% | 18.1% | 23.7% | 23.1% | 17.8% | 26.7% | 17.3% | 16.7% |
| Other Income ⓘ | 0 | 1 | 1 | 1 | 0 | 0 | 0 | 1 | 1 | 1 |
| Interest ⓘ | 3 | 4 | 4 | 5 | 5 | 6 | 5 | 5 | 6 | 5 |
| Depreciation ⓘ | 2 | 3 | 3 | 4 | 4 | 4 | 4 | 5 | 5 | 5 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 1 | 4 | 4 | -3 | 1 | 0 | -3 | 3 | 1 | 10 |
| Tax ⓘ | 0 | 1 | 2 | -1 | 0 | 0 | -1 | 1 | 0 | 3 |
| Profit After Tax | 0 | 3 | 3 | -1 | 1 | 0 | -2 | 2 | 1 | 7 |
| PAT Margin (%) | 2.1% | 8.1% | 7.8% | -4.3% | 1.8% | 0.2% | -7.1% | 5.3% | 1.8% | 6.0% |
| Adjusted EPS (₹) | 0.6 | 3.2 | 2.9 | -1.3 | 0.7 | 0.1 | -2.2 | 2.0 | 1.0 | 5.4 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 16 | 20 | 27 | 31 | 34 | 34 | 34 | 39 | 41 | 47 |
| Share Capital ⓘ | 8 | 9 | 10 | 10 | 10 | 10 | 11 | 13 | 13 | 13 |
| Reserves ⓘ | 7 | 11 | 17 | 21 | 24 | 24 | 23 | 27 | 28 | 35 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 32 | 29 | 28 | 34 | 32 | 36 | 42 | 36 | 33 | 30 |
| Long Term Debt | 29 | 23 | 20 | 34 | 32 | 34 | 39 | 34 | 33 | 24 |
| Short Term Debt | 4 | 6 | 8 | 0 | 0 | 2 | 3 | 1 | 0 | 6 |
| Trade Payables | 4 | 6 | 8 | 5 | 5 | 4 | 2 | 4 | 18 | 8 |
| Others Liabilities ⓘ | 27 | 29 | 22 | 12 | 11 | 10 | 10 | 11 | 10 | 15 |
| Total Liabilities ⓘ | 80 | 83 | 85 | 83 | 82 | 84 | 88 | 90 | 101 | 101 |
Fixed Assets | ||||||||||
| Gross Block | 82 | 84 | 66 | 69 | 71 | 76 | 78 | 81 | 82 | 85 |
| Accumulated Depreciation | 20 | 23 | 3 | 7 | 10 | 14 | 18 | 22 | 26 | 30 |
| Net Fixed Assetsⓘ | 62 | 61 | 62 | 62 | 60 | 62 | 59 | 59 | 56 | 55 |
| CWIP ⓘ | 1 | 1 | 1 | 0 | 1 | 0 | 4 | 0 | 0 | 0 |
| Investmentsⓘ | 1 | 0 | 1 | 1 | 0 | 0 | 1 | 1 | 0 | 0 |
| Inventories | 2 | 6 | 6 | 7 | 8 | 9 | 8 | 7 | 23 | 17 |
| Trade Receivables | 5 | 9 | 9 | 5 | 7 | 7 | 6 | 11 | 12 | 15 |
| Cash Equivalents | 0 | 0 | 1 | 3 | 1 | 2 | 3 | 2 | 1 | 2 |
| Others Assetsⓘ | 8 | 6 | 4 | 4 | 4 | 4 | 7 | 10 | 9 | 12 |
| Total Assets ⓘ | 80 | 83 | 85 | 83 | 82 | 84 | 88 | 90 | 101 | 101 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 13 | 1 | 8 | 0 | 5 | 7 | 2 | 8 | 8 | 9 |
| PBT ⓘ | 1 | 4 | 4 | -3 | 1 | 0 | -3 | 3 | 1 | 10 |
| Adjustment ⓘ | 4 | 6 | 7 | 9 | 9 | 9 | 10 | 10 | 11 | 10 |
| Changes in Working Capital ⓘ | 8 | -8 | -3 | -5 | -4 | -2 | -4 | -4 | -4 | -10 |
| Tax Paid ⓘ | 0 | 0 | -1 | -1 | -1 | 0 | 0 | 0 | 0 | -1 |
| Cash Flow From Investing Activity ⓘ | -23 | 3 | -5 | -2 | -2 | -3 | -6 | -1 | -1 | -2 |
| Capex | -22 | -2 | -4 | -2 | -2 | -3 | -5 | -1 | -2 | -2 |
| Net Investments | 0 | 1 | 0 | 0 | 0 | 0 | -1 | 0 | 1 | 0 |
| Others ⓘ | -1 | 4 | -1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 10 | -5 | -3 | 4 | -5 | -4 | 5 | -8 | -8 | -6 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 2 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 9 | -5 | -3 | 12 | -2 | 1 | 6 | -3 | -1 | -7 |
| Interest Paid ⓘ | -2 | -4 | -4 | -6 | -5 | -6 | -5 | -5 | -6 | -5 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 3 | 4 | 4 | -2 | 2 | 1 | 2 | -2 | -1 | 6 |
| Net Cash Flow ⓘ | -1 | 0 | 0 | 3 | -2 | 1 | 1 | 0 | -1 | 1 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 3.25 | 15.69 | 11.95 | -4.59 | 2.2 | 0.21 | -7.21 | 6.65 | 3.03 | 15.49 |
| ROCE (%) | 7.55 | 14.75 | 14.78 | 4.08 | 9.13 | 7.84 | 2.81 | 10.21 | 9.27 | 18.16 |
| Asset Turnover Ratio | 0.34 | 0.43 | 0.42 | 0.37 | 0.49 | 0.48 | 0.41 | 0.51 | 0.69 | 1.13 |
| PAT to CFO Conversion(x) | N/A | 0.33 | 2.67 | N/A | 5 | N/A | N/A | 4 | 8 | 1.29 | Working Capital Days |
| Receivable Days | 99 | 75 | 92 | 84 | 55 | 63 | 70 | 71 | 66 | 45 |
| Inventory Days | 29 | 43 | 65 | 80 | 69 | 78 | 90 | 61 | 83 | 63 |
| Payable Days | 397 | 289 | 488 | 428 | 306 | 289 | 254 | 165 | 173 | 96 |
Lactose (India), a Toshniwal Group company, was incorporated in 1991, under the Companies Act, 1956. Its plant in Vadodara, Gujarat was commissioned by Alfa Laval, Pune (which is a subsidary of Alfa Laval of Sweden) and was also given a ‘thumbs up’ by reputed dairy experts from the Netherlands in October 1991. Subsequently Alfa Laval, reputed dairy experts from Sweden and a joint commission from the Netherlands studied the plant and its working and confidently acknowledged the plant for its quality standards as well.
For ten years now, Lactose (India) Limited has stood for perfection, quality, constant innovation and complete dedication to their clients. With up to date technology, the company is one of India's leading producers of Edible and Pharmaceutical grade Lactose. Apart from this, the company also manufactures Dairy Whitener, Dairy Calcium, Whey Powder, Casein, Caseinate, Butter and Ghee.
The company still boasts of being the first company to manufacture Lactose in the Asian subcontinent. The company has since grown to be a leading player in the Lactose market and continues to supply consistent quality Lactose to several global giants in the pharmaceutical world. It commands a 40% overall market share and this makes the company the leading Lactose supplier in the country.
With its unparalled infrastructure of requisite equipment and dedicated work force, Lactose (India) has a state of the art manufacturing facility for contract manufacturing of pharmaceutical products.The latest in its diverse interests is the manufacturing of pharmaceutical formulations for Aventis Pharma (earlier-Hoechst Marion Roussel), for the purpose of domestic use and export to Russia.
The state of art manufacturing facilities for the manufacture of pharmacuetical formulations is in compliance with all international standards.The plant is approved under WHO-cGMP guidelines and also holds TUV certificate as an ISO 9001 : 2000 company.The manufacturing facilities include wet granulation,Fluid bed drying, compaction, blending and coating facilities with the latest technology equipments.The manufacturing facilities is well supported by its total in-house Quality Control set-up with latest Testing equipments and an upto date Microbiology Testing Laboratory. The facility is supported by an equally competent and FDA approved Manufacturing professionals.
Besides providing lactose for pharmaceutical giants, food,confectionary and dairy companies in India, the company's product also leaves Indian shores for the African continent, South East Asia, and some of its other neighbouring countries.
After achieving its ambitious goal of being the most successful and leading Lactose manufacturer and supplier in the country, the company is now venturing aggressively into exports of pharmaceuticals and related products.
Product range of the company includes:
Awards & Achievements:
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