BSE: 506919 | NSE: | Pharmaceuticals & Drugs | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Makers Laboratories Ltd is a below average quality company.
The key valuation ratios of Makers Laboratories 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 Makers Laboratories 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 % ⓘ | 15% | 14.9% | 18.1% | 12.5% | 7.6% | 1.8% | -0.8% | 3.1% | -8% | -8% | - |
| Value Creation Index ⓘ | 0.1 | 0.1 | 0.3 | -0.1 | -0.5 | -0.9 | -1.1 | -0.8 | -1.6 | -1.6 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 64.9 | 61.4 | 58.1 | 56 | 46.6 | 51.4 | 44.4 | 52.4 | 42.6 | 49.1 | 46 |
| Sales YoY Gr. | - | -5.4% | -5.3% | -3.8% | -16.7% | 10.2% | -13.6% | 18% | -18.8% | 15.4% | - |
| Adj EPS ⓘ | 4.9 | 4.8 | 6.1 | 6.3 | 5.1 | 0.2 | -3.4 | 0.4 | -10.8 | -11.8 | 5.6 |
| YoY Gr. | - | -2.7% | 28.7% | 2.4% | -19.4% | -95.3% | -1508.3% | NA | -2609.3% | NA | - |
| BVPS (₹) ⓘ | 48.1 | 51.4 | 66.5 | 71.9 | 81.4 | 87.1 | 96.8 | 102.3 | 98.8 | 87.2 | 98.8 |
| Adj Net Profit ⓘ | 2.5 | 2.5 | 3.1 | 3.2 | 2.6 | 0.1 | -1.7 | 0.2 | -6.4 | -7 | 3 |
| Cash Flow from Ops. ⓘ | 1.3 | 3.5 | 5.5 | 0.2 | 5.4 | 4.2 | 0.7 | 6.8 | -1.4 | -3.1 | - |
| Debt/CF from Ops. ⓘ | 0.6 | 0.1 | 0.3 | 6.1 | 1.2 | 2.5 | 20.6 | 2.5 | -6.5 | -4.4 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -3.1% | 1% | 3.4% | 15.4% | ||||
| Adj EPS ⓘ | -210.3% | -218.4% | NA | NA | ||||
| BVPSⓘ | 6.8% | 1.4% | -3.4% | -11.7% | ||||
| Share Price | 17.9% | 36.1% | -2.5% | 18.3% | ||||
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 % ⓘ | 10.6 | 9.6 | 10.4 | 9.1 | 6.6 | 0.3 | -3.7 | 0.4 | -11.7 | -12.7 | 6 |
| Op. Profit Mgn % ⓘ | 6.8 | 7.7 | 8.9 | 8.3 | 5.2 | 6 | 7.5 | 5.9 | -9.7 | -7.6 | -3.6 |
| Net Profit Mgn % ⓘ | 3.9 | 4 | 5.4 | 5.8 | 5.6 | 0.2 | -3.9 | 0.4 | -15 | -14.2 | 7.1 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0 | 0.2 | 0.2 | 0.3 | 0.3 | 0.2 | 0.3 | 0 |
| Working Cap Days ⓘ | 129 | 129 | 134 | 158 | 193 | 165 | 200 | 168 | 196 | 169 | 75 |
| Cash Conv. Cycle ⓘ | 65 | 70 | 75 | 98 | 117 | 82 | 94 | 88 | 107 | 76 | -1 |
Return on Equity has increased versus last 3 years average to 6.00%
Sales growth has been subdued in last 3 years 3.40%
Net Profit has been subdued in last 3 years 0.00%
Sales growth is not so good in last 4 quarters at -1.40%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 5.6 | 8.5 |
| TTM Sales (₹ Cr.) | 46.4 | 113 |
| BVPS (₹.) ⓘ | 98.8 | 120.2 |
| Reserves (₹ Cr.) ⓘ | 52 | 65 |
| P/BV ⓘ | 1.77 | 1.45 |
| PE ⓘ | 31.15 | 20.61 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 108.40 / 190.00 |
| All Time Low / High (₹) | 3.88 / 330.82 |
| Market Cap (₹ Cr.) | 103 |
| Equity (₹ Cr.) | 5.9 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 44.3 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 65 | 61 | 58 | 56 | 47 | 51 | 44 | 52 | 43 | 49 |
| Operating Expenses ⓘ | 61 | 57 | 53 | 52 | 44 | 49 | 41 | 49 | 47 | 53 |
| Manufacturing Costs | 7 | 7 | 7 | 7 | 8 | 5 | 7 | 8 | 8 | 10 |
| Material Costs | 38 | 35 | 33 | 34 | 27 | 28 | 21 | 26 | 26 | 27 |
| Employee Cost | 7 | 8 | 7 | 6 | 7 | 8 | 8 | 8 | 7 | 9 |
| Other Costs ⓘ | 8 | 7 | 7 | 5 | 2 | 7 | 5 | 7 | 5 | 6 |
| Operating Profit ⓘ | 4 | 4 | 5 | 4 | 2 | 3 | 3 | 3 | -4 | -4 |
| Operating Profit Margin (%) | 6.4% | 7.3% | 8.5% | 7.9% | 4.7% | 5.3% | 7.4% | 5.8% | -9.7% | -7.7% |
| Other Income ⓘ | 0 | 1 | 1 | 2 | 3 | 0 | 0 | 1 | 1 | 1 |
| Interest ⓘ | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 2 | 1 | 2 |
| Depreciation ⓘ | 2 | 1 | 1 | 2 | 2 | 2 | 4 | 2 | 2 | 3 |
| Exceptional Items ⓘ | 1 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 3 | 4 | 5 | 4 | 3 | 0 | -2 | 0 | -7 | -7 |
| Tax ⓘ | 1 | 1 | 2 | 1 | 1 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | 2 | 2 | 4 | 3 | 2 | 0 | -2 | 0 | -6 | -7 |
| PAT Margin (%) | 3.6% | 3.8% | 6.4% | 5.5% | 5.3% | -0.2% | -3.6% | 0.3% | -15.0% | -14.2% |
| Adjusted EPS (₹) | 4.6 | 4.5 | 7.2 | 6.0 | 4.8 | -0.2 | -3.2 | 0.4 | -10.8 | -11.8 |
| Dividend Payout Ratio (%) | 21% | 21% | 13% | 16% | 20% | 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 | 25 | 26 | 34 | 37 | 42 | 45 | 50 | 50 | 58 | 51 |
| Share Capital ⓘ | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 6 | 6 |
| Reserves ⓘ | 20 | 21 | 29 | 32 | 37 | 40 | 45 | 45 | 52 | 46 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 1 | 0 | 1 | 1 | 6 | 9 | 11 | 14 | 7 | 13 |
| Long Term Debt | 0 | 0 | 0 | 0 | 6 | 6 | 6 | 3 | 2 | 6 |
| Short Term Debt | 1 | 0 | 1 | 1 | 0 | 3 | 6 | 12 | 5 | 7 |
| Trade Payables | 8 | 8 | 7 | 7 | 4 | 7 | 6 | 4 | 5 | 10 |
| Others Liabilities ⓘ | 6 | 6 | 8 | 9 | 8 | 13 | 12 | 17 | 15 | 11 |
| Total Liabilities ⓘ | 39 | 40 | 50 | 53 | 60 | 74 | 79 | 85 | 85 | 86 |
Fixed Assets | ||||||||||
| Gross Block | 20 | 20 | 18 | 19 | 22 | 39 | 41 | 42 | 54 | 56 |
| Accumulated Depreciation | 9 | 10 | 1 | 3 | 4 | 6 | 10 | 12 | 14 | 16 |
| Net Fixed Assetsⓘ | 11 | 10 | 17 | 17 | 18 | 33 | 31 | 30 | 40 | 40 |
| CWIP ⓘ | 3 | 4 | 0 | 0 | 6 | 1 | 0 | 9 | 0 | 0 |
| Investmentsⓘ | 2 | 2 | 7 | 9 | 11 | 15 | 24 | 23 | 23 | 23 |
| Inventories | 9 | 6 | 8 | 13 | 12 | 11 | 11 | 12 | 8 | 11 |
| Trade Receivables | 12 | 14 | 12 | 11 | 5 | 8 | 7 | 5 | 8 | 7 |
| Cash Equivalents | 0 | 1 | 4 | 0 | 2 | 1 | 0 | 0 | 0 | 0 |
| Others Assetsⓘ | 1 | 2 | 1 | 3 | 5 | 6 | 6 | 6 | 6 | 6 |
| Total Assets ⓘ | 39 | 40 | 50 | 53 | 60 | 74 | 79 | 85 | 85 | 86 |
| 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 ⓘ | 1 | 4 | 6 | 0 | 5 | 4 | 1 | 7 | -1 | -3 |
| PBT ⓘ | 3 | 4 | 5 | 4 | 3 | 0 | -2 | 0 | -7 | -7 |
| Adjustment ⓘ | 2 | 2 | 1 | 2 | 2 | 3 | 5 | 3 | 3 | 4 |
| Changes in Working Capital ⓘ | -3 | -0 | 2 | -4 | 2 | 1 | -1 | 4 | 2 | 1 |
| Tax Paid ⓘ | 0 | -1 | -1 | -1 | -1 | 0 | -1 | -1 | 0 | 0 |
| Cash Flow From Investing Activity ⓘ | -1 | -1 | -3 | -2 | -8 | -8 | -3 | -9 | -4 | -2 |
| Capex | -2 | -2 | -3 | -2 | -9 | -9 | -1 | -11 | -4 | -3 |
| Net Investments | 1 | 0 | 0 | -1 | 0 | 0 | 21 | 2 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | -22 | 1 | 1 | 1 |
| Cash Flow From Financing Activityⓘ | 0 | -1 | 0 | -1 | 4 | 3 | 1 | 2 | 5 | 5 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 6 | 2 | 0 | -2 | -1 | 4 |
| Interest Paid ⓘ | 0 | 0 | 0 | 0 | 0 | -1 | -2 | -2 | -1 | -1 |
| Dividend Paid ⓘ | 0 | -1 | -1 | -1 | -1 | -1 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 1 | 0 | -1 | 2 | 3 | 6 | -8 | 2 |
| Net Cash Flow ⓘ | 0 | 1 | 3 | -3 | 1 | -1 | -1 | 0 | 0 | 0 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 9.9 | 9.05 | 12.25 | 8.62 | 6.24 | -0.29 | -3.43 | 0.34 | -11.72 | -12.67 |
| ROCE (%) | 15.04 | 14.86 | 18.09 | 12.48 | 7.59 | 1.84 | -0.8 | 3.05 | -7.99 | -8.03 |
| Asset Turnover Ratio | 1.67 | 1.58 | 1.31 | 1.09 | 0.82 | 0.77 | 0.58 | 0.64 | 0.5 | 0.57 |
| PAT to CFO Conversion(x) | 0.5 | 2 | 1.5 | 0 | 2.5 | N/A | N/A | N/A | N/A | N/A | Working Capital Days |
| Receivable Days | 67 | 76 | 82 | 76 | 64 | 45 | 61 | 44 | 55 | 52 |
| Inventory Days | 52 | 45 | 44 | 69 | 98 | 79 | 89 | 80 | 87 | 71 |
| Payable Days | 86 | 78 | 82 | 74 | 71 | 73 | 116 | 71 | 60 | 99 |
Makers Laboratories was incorporated in 1985. The company is promoted and managed by Ipca Laboratories group. The company is engaged in manufacturing pharmaceutical formulations and drug intermediaries. The company’s plants are located in Palghar and Dombivli in Thane (Maharashtra). The company has a prominent presence in the therapeutic segment of antibiotics.
Makers Drugs & Food Products was amalgamated with the company with effect from April 1, 1993. In the year 2006 Makers Laboratories informed that Purnima Jain has been appointed as an additional director of the company and designated as the whole-time director with effect from October 30, 2006.
The registered office of the company is located at 54 D,Kandivli Industrial Estates, Kandivli west Mumbai, Maharashtra- 400067 .
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