New Risk • Jul 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.2x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.7% average weekly change). Market cap is less than US$100m (₹1.39b market cap, or US$14.5m). Reported Earnings • May 28
Full year 2026 earnings released: EPS: ₹3.95 (vs ₹4.55 in FY 2025) Full year 2026 results: EPS: ₹3.95 (down from ₹4.55 in FY 2025). Revenue: ₹3.14b (up 3.5% from FY 2025). Net income: ₹62.8m (down 13% from FY 2025). Profit margin: 2.0% (down from 2.4% in FY 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 25
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹88.56, the stock trades at a trailing P/E ratio of 17.4x. Average trailing P/E is 29x in the Pharmaceuticals industry in India. Total returns to shareholders of 9.8% over the past three years. Aankondiging • May 18
Bal Pharma Limited to Report Q4, 2026 Results on May 27, 2026 Bal Pharma Limited announced that they will report Q4, 2026 results on May 27, 2026 Buy Or Sell Opportunity • May 08
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to ₹80.15. The fair value is estimated to be ₹66.33, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 34%. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹71.64, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 26x in the Pharmaceuticals industry in India. Total returns to shareholders of 1.3% over the past three years. Reported Earnings • Feb 13
Third quarter 2026 earnings released: EPS: ₹1.12 (vs ₹1.87 in 3Q 2025) Third quarter 2026 results: EPS: ₹1.12 (down from ₹1.87 in 3Q 2025). Revenue: ₹880.2m (up 14% from 3Q 2025). Net income: ₹17.8m (down 40% from 3Q 2025). Profit margin: 2.0% (down from 3.8% in 3Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Aankondiging • Feb 03
Bal Pharma Limited to Report Q3, 2026 Results on Feb 11, 2026 Bal Pharma Limited announced that they will report Q3, 2026 results at 12:15 PM, Indian Standard Time on Feb 11, 2026 Reported Earnings • Nov 14
Second quarter 2026 earnings released: EPS: ₹0.45 (vs ₹0.65 in 2Q 2025) Second quarter 2026 results: EPS: ₹0.45 (down from ₹0.65 in 2Q 2025). Revenue: ₹751.4m (up 2.0% from 2Q 2025). Net income: ₹7.10m (down 32% from 2Q 2025). Profit margin: 0.9% (down from 1.4% in 2Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Aankondiging • Nov 04
Bal Pharma Limited to Report Q2, 2026 Results on Nov 12, 2025 Bal Pharma Limited announced that they will report Q2, 2026 results on Nov 12, 2025 Buy Or Sell Opportunity • Oct 21
Now 20% overvalued Over the last 90 days, the stock has fallen 16% to ₹81.30. The fair value is estimated to be ₹67.60, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 37%. Buy Or Sell Opportunity • Sep 29
Now 22% overvalued Over the last 90 days, the stock has fallen 17% to ₹84.49. The fair value is estimated to be ₹69.23, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 37%. Upcoming Dividend • Sep 11
Upcoming dividend of ₹1.20 per share Eligible shareholders must have bought the stock before 18 September 2025. Payment date: 25 October 2025. Payout ratio is a comfortable 26% but the company is paying out more than the cash it is generating. Trailing yield: 1.3%. Within top quartile of Indian dividend payers (1.2%). Higher than average of industry peers (0.7%). Declared Dividend • Aug 13
Dividend of ₹1.20 announced Dividend of ₹1.20 is the same as last year. Ex-date: 18th September 2025 Payment date: 25th October 2025 Dividend yield will be 1.3%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is covered by earnings (26% earnings payout ratio) but not covered by cash flows (124% cash payout ratio). The dividend has increased by an average of 1.8% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 39% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Aankondiging • Aug 12
Bal Pharma Limited, Annual General Meeting, Sep 25, 2025 Bal Pharma Limited, Annual General Meeting, Sep 25, 2025, at 11:30 Indian Standard Time. Reported Earnings • Aug 12
First quarter 2026 earnings released: EPS: ₹0.13 (vs ₹0.16 in 1Q 2025) First quarter 2026 results: EPS: ₹0.13 (down from ₹0.16 in 1Q 2025). Revenue: ₹665.9m (down 10% from 1Q 2025). Net income: ₹2.01m (down 23% from 1Q 2025). Profit margin: 0.3% (in line with 1Q 2025). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Aankondiging • Jul 29
Bal Pharma Limited to Report Q1, 2026 Results on Aug 11, 2025 Bal Pharma Limited announced that they will report Q1, 2026 results on Aug 11, 2025 Board Change • Jun 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 1 highly experienced director. Deputy GM of Internal Audit, Legal and Compliances & Non-Executive and Non-Independent Director Ravindra Kothari was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 30
Full year 2025 earnings released: EPS: ₹4.56 (vs ₹4.68 in FY 2024) Full year 2025 results: EPS: ₹4.56 (down from ₹4.68 in FY 2024). Revenue: ₹3.05b (down 10.0% from FY 2024). Net income: ₹72.2m (down 2.4% from FY 2024). Profit margin: 2.4% (up from 2.2% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. New Risk • Apr 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.3% average weekly change). Market cap is less than US$100m (₹1.44b market cap, or US$16.8m). Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₹108, the stock trades at a trailing P/E ratio of 22.5x. Average trailing P/E is 29x in the Pharmaceuticals industry in India. Total loss to shareholders of 1.1% over the past three years. Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹80.60, the stock trades at a trailing P/E ratio of 16.5x. Average trailing P/E is 26x in the Pharmaceuticals industry in India. Total loss to shareholders of 22% over the past three years. Reported Earnings • Nov 16
Second quarter 2025 earnings released: EPS: ₹0.65 (vs ₹0.62 in 2Q 2024) Second quarter 2025 results: EPS: ₹0.65 (up from ₹0.62 in 2Q 2024). Revenue: ₹734.9m (down 21% from 2Q 2024). Net income: ₹10.4m (up 10% from 2Q 2024). Profit margin: 1.4% (up from 1.0% in 2Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 9% per year. Aankondiging • Sep 26
Bal Pharma Limited Approves Dividend Bal Pharma Limited approved dividend of INR 1.20 per equity share of INR 10 each i.e 12% at its AGM held on September 26, 2024. Upcoming Dividend • Sep 11
Upcoming dividend of ₹1.20 per share Eligible shareholders must have bought the stock before 18 September 2024. Payment date: 25 October 2024. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Indian dividend payers (1.0%). Higher than average of industry peers (0.6%). Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₹138, the stock trades at a trailing P/E ratio of 28.5x. Average trailing P/E is 37x in the Pharmaceuticals industry in India. Total returns to shareholders of 54% over the past three years. Declared Dividend • Aug 14
Dividend increased to ₹1.20 Dividend of ₹1.20 is 20% higher than last year. Ex-date: 18th September 2024 Payment date: 25th October 2024 Dividend yield will be 1.1%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (24% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 4.8% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 49% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Aankondiging • Aug 13
Bal Pharma Limited, Annual General Meeting, Sep 25, 2024 Bal Pharma Limited, Annual General Meeting, Sep 25, 2024, at 11:30 Indian Standard Time. Reported Earnings • Aug 13
First quarter 2025 earnings released: EPS: ₹0.16 (vs ₹0.06 in 1Q 2024) First quarter 2025 results: EPS: ₹0.16 (up from ₹0.06 in 1Q 2024). Revenue: ₹751.8m (up 6.8% from 1Q 2024). Net income: ₹2.59m (up 207% from 1Q 2024). Profit margin: 0.3% (up from 0.1% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Aankondiging • Jul 26
Bal Pharma Limited to Report Q1, 2025 Results on Aug 12, 2024 Bal Pharma Limited announced that they will report Q1, 2025 results on Aug 12, 2024 Aankondiging • Jun 28
Bal Pharma Limited Announces the Cessation of C. V. Srinivas as Independent Director, Chairman/Member of the Audit Committee, Nomination and Remuneration Committee, Stake Holders Relationship Committee & Corporate Social Responsibility Committees Bal Pharma Limited announced that Dr. C. V. Srinivas, independent Director of the Company has completed his tenure of five years as independent Director and he ceases to be on the Board of the Company with effect from June 28, 2024. Consequently, Dr.C.V Srinivas shall also cease to be the Chairman/Member of the Audit Committee, Nomination and Remuneration Committee, Stake Holders Relationship Committee & Corporate Social Responsibility Committees of the Company. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹121, the stock trades at a trailing P/E ratio of 25.6x. Average trailing P/E is 33x in the Pharmaceuticals industry in India. Total returns to shareholders of 26% over the past three years. Aankondiging • May 29
Bal Pharma Limited Recommends Dividend Bal Pharma Limited recommended dividend of INR 1.20/- per equity share of INR 10/- each i.e 12%, which is subject to the approval of members at the ensuing Annual General Meeting of the Company. New Risk • May 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.6x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.2% average weekly change). Market cap is less than US$100m (₹1.89b market cap, or US$22.6m). Reported Earnings • May 29
Full year 2024 earnings released: EPS: ₹4.94 (vs ₹1.64 in FY 2023) Full year 2024 results: EPS: ₹4.94 (up from ₹1.64 in FY 2023). Revenue: ₹3.42b (up 12% from FY 2023). Net income: ₹73.9m (up 187% from FY 2023). Profit margin: 2.2% (up from 0.8% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Reported Earnings • Feb 13
Third quarter 2024 earnings released: EPS: ₹0.54 (vs ₹0.38 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.54 (up from ₹0.38 in 3Q 2023). Revenue: ₹817.6m (up 6.7% from 3Q 2023). Net income: ₹8.89m (up 55% from 3Q 2023). Profit margin: 1.1% (up from 0.8% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jan 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.6x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (₹1.94b market cap, or US$23.3m). Aankondiging • Jan 25
Bal Pharma Limited to Report Q3, 2024 Results on Feb 12, 2024 Bal Pharma Limited announced that they will report Q3, 2024 results on Feb 12, 2024 Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹116, the stock trades at a trailing P/E ratio of 56.6x. Average trailing P/E is 35x in the Pharmaceuticals industry in India. Total returns to shareholders of 111% over the past three years. Board Change • Jan 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 1 highly experienced director. Additional Non-Independent Director Kotian Damodar was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Nov 16
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹112, the stock trades at a trailing P/E ratio of 55x. Average trailing P/E is 31x in the Pharmaceuticals industry in India. Total returns to shareholders of 111% over the past three years. Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: ₹0.62 (vs ₹0.38 in 2Q 2023) Second quarter 2024 results: EPS: ₹0.62 (up from ₹0.38 in 2Q 2023). Revenue: ₹926.8m (up 21% from 2Q 2023). Net income: ₹9.46m (up 65% from 2Q 2023). Profit margin: 1.0% (up from 0.8% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Aankondiging • Oct 21
Bal Pharma Limited to Report Q2, 2024 Results on Nov 08, 2023 Bal Pharma Limited announced that they will report Q2, 2024 results on Nov 08, 2023 Aankondiging • Sep 25
Bal Pharma Limited Approves Dividend Bal Pharma Limited approved dividend of INR 1/- per Equity Share of INR 10/- each at its Annual General Meeting held on September 25, 2023. Upcoming Dividend • Sep 11
Upcoming dividend of ₹1.00 per share at 1.0% yield Eligible shareholders must have bought the stock before 18 September 2023. Payment date: 25 October 2023. Payout ratio is a comfortable 61% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of Indian dividend payers (1.3%). Higher than average of industry peers (0.9%). Reported Earnings • Aug 12
First quarter 2024 earnings released: EPS: ₹0.06 (vs ₹0.19 in 1Q 2023) First quarter 2024 results: EPS: ₹0.06 (down from ₹0.19 in 1Q 2023). Revenue: ₹705.4m (up 1.0% from 1Q 2023). Net income: ₹843.0k (down 70% from 1Q 2023). Profit margin: 0.1% (down from 0.4% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Aankondiging • Aug 12
Bal Pharma Limited, Annual General Meeting, Sep 25, 2023 Bal Pharma Limited, Annual General Meeting, Sep 25, 2023, at 10:30 Indian Standard Time. Aankondiging • Aug 03
Bal Pharma Limited to Report Q1, 2024 Results on Aug 11, 2023 Bal Pharma Limited announced that they will report Q1, 2024 results on Aug 11, 2023 Aankondiging • Jul 18
Bal Pharma Limited Appoints Abdul Basith as Company Secretary and Compliance Officer Bal Pharma Limited announced that Board of Directors of the Company at their meeting held on July 11, 2023 has inter alia appointed Mr. Abdul Basith (M.No A70640), as Company Secretary and Compliance officer of the Company.Qualification: ACS. Experience: Over 6 years in Company Secretarial matters. Aankondiging • Jun 02
Bal Pharma Limited Appoints Nicola Neeladri as Additional Director Bal Pharma Limited Board of Directors of the Company vide a resolution passed by circulation has appointed Ms. Nicola Neeladri as Additional Director of the Company to hold office from May 23, 2023 until the conclusion of upcoming General Meeting of the Company. Aankondiging • May 31
Bal Pharma Limited Recommends Dividend Bal Pharma Limited at its board meeting held on May 29, 2023 recommended dividend of INR 1.0 per equity share of INR 10.0 each, payable subject to the approval of members at the upcoming annual general meeting of the company. Reported Earnings • May 31
Full year 2023 earnings released: EPS: ₹1.67 (vs ₹3.79 in FY 2022) Full year 2023 results: EPS: ₹1.67 (down from ₹3.79 in FY 2022). Revenue: ₹3.05b (up 8.5% from FY 2022). Net income: ₹25.7m (down 54% from FY 2022). Profit margin: 0.8% (down from 2.0% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Aankondiging • May 17
Bal Pharma Limited to Report Q4, 2023 Results on May 29, 2023 Bal Pharma Limited announced that they will report Q4, 2023 results on May 29, 2023 Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹85.45, the stock trades at a trailing P/E ratio of 45.4x. Average trailing P/E is 26x in the Pharmaceuticals industry in India. Total returns to shareholders of 110% over the past three years. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹74.20, the stock trades at a trailing P/E ratio of 39.3x. Average trailing P/E is 24x in the Pharmaceuticals industry in India. Total returns to shareholders of 81% over the past three years. Reported Earnings • Feb 07
Third quarter 2023 earnings released Third quarter 2023 results: EPS: ₹0.38. Revenue: ₹770.8m (up 11% from 3Q 2022). Net income: ₹5.75m (down 10% from 3Q 2022). Profit margin: 0.7% (down from 0.9% in 3Q 2022). Aankondiging • Jan 28
Bal Pharma Limited to Report Q3, 2023 Results on Feb 06, 2023 Bal Pharma Limited announced that they will report Q3, 2023 results on Feb 06, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: ₹0.07 (vs ₹0.97 in 2Q 2022) Second quarter 2023 results: EPS: ₹0.07 (down from ₹0.97 in 2Q 2022). Revenue: ₹756.0m (up 11% from 2Q 2022). Net income: ₹1.14m (down 92% from 2Q 2022). Profit margin: 0.2% (down from 2.0% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Board Change • Oct 31
High number of new directors Additional Non-Independent Director Kotian Damodar was the last director to join the board, commencing their role in 2022. Upcoming Dividend • Sep 06
Upcoming dividend of ₹1.00 per share Eligible shareholders must have bought the stock before 13 September 2022. Payment date: 19 October 2022. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Indian dividend payers (1.6%). In line with average of industry peers (1.0%). Reported Earnings • Aug 12
First quarter 2023 earnings released: EPS: ₹0.19 (vs ₹1.09 in 1Q 2022) First quarter 2023 results: EPS: ₹0.19 (down from ₹1.09 in 1Q 2022). Revenue: ₹700.8m (down 1.0% from 1Q 2022). Net income: ₹2.82m (down 83% from 1Q 2022). Profit margin: 0.4% (down from 2.3% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jun 05
Full year 2022 earnings released: EPS: ₹3.79 (vs ₹3.34 in FY 2021) Full year 2022 results: EPS: ₹3.79 (up from ₹3.34 in FY 2021). Revenue: ₹2.81b (up 12% from FY 2021). Net income: ₹56.1m (up 18% from FY 2021). Profit margin: 2.0% (up from 1.9% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. 1 highly experienced director. MD & Executive Director Shailesh Siroya is the most experienced director on the board, commencing their role in 1997. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Feb 11
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹0.32 (up from ₹0.22 in 3Q 2021). Revenue: ₹699.2m (up 11% from 3Q 2021). Net income: ₹6.40m (up 102% from 3Q 2021). Profit margin: 0.9% (up from 0.5% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 22% per year. Valuation Update With 7 Day Price Move • Jan 03
Investor sentiment improved over the past week After last week's 26% share price gain to ₹127, the stock trades at a trailing P/E ratio of 26.4x. Average trailing P/E is 26x in the Pharmaceuticals industry in India. Total returns to shareholders of 66% over the past three years. Upcoming Dividend • Sep 09
Upcoming dividend of ₹1.00 per share Eligible shareholders must have bought the stock before 16 September 2021. Payment date: 24 October 2021. Trailing yield: 1.1%. Lower than top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.8%). Reported Earnings • Aug 12
First quarter 2022 earnings released: EPS ₹1.09 (vs ₹0.30 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ₹709.6m (up 36% from 1Q 2021). Net income: ₹16.2m (up 284% from 1Q 2021). Profit margin: 2.3% (up from 0.8% in 1Q 2021). The increase in margin was driven by higher revenue. Reported Earnings • Jul 03
Full year 2021 earnings released: EPS ₹3.34 (vs ₹8.62 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹2.51b (up 46% from FY 2020). Net income: ₹47.4m (up ₹169.6m from FY 2020). Profit margin: 1.9% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 15
New 90-day high: ₹60.80 The company is up 6.0% from a price of ₹57.50 on 15 December 2020. Underperformed the Indian market, which is up 14% over the last 90 days. Exceeded the Pharmaceuticals industry, which is down 1.0% over the same period. Reported Earnings • Feb 23
Third quarter 2021 earnings released: EPS ₹0.22 (vs ₹2.62 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹632.2m (up 46% from 3Q 2020). Net income: ₹4.01m (up ₹41.1m from 3Q 2020). Profit margin: 0.6% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 86% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 15
Second quarter 2021 earnings released: EPS ₹0.30 The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₹646.2m (up 44% from 2Q 2020). Net income: ₹4.24m (up ₹24.1m from 2Q 2020). Profit margin: 0.7% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 104% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Oct 09
New 90-day high: ₹54.75 The company is up 27% from its price of ₹43.00 on 10 July 2020. The Indian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is up 19% over the same period.