New Risk • Jul 20
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 7.6% 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: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.6% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹62.68, the stock trades at a trailing P/E ratio of 36.2x. Average trailing P/E is 30x in the Pharmaceuticals industry in India. Total returns to shareholders of 109% over the past three years. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹50.12, the stock trades at a trailing P/E ratio of 29x. Average trailing P/E is 29x in the Pharmaceuticals industry in India. Total returns to shareholders of 74% over the past three years. Reported Earnings • May 27
Full year 2026 earnings released: EPS: ₹1.73 (vs ₹2.21 in FY 2025) Full year 2026 results: EPS: ₹1.73 (down from ₹2.21 in FY 2025). Revenue: ₹18.3b (flat on FY 2025). Net income: ₹948.8m (down 20% from FY 2025). Profit margin: 5.2% (down from 6.5% in FY 2025). Over the last 3 years on average, earnings per share has increased by 18% per year and the company’s share price has also increased by 18% per year. Announcement • May 16
Morepen Laboratories Limited to Report Q4, 2026 Results on May 22, 2026 Morepen Laboratories Limited announced that they will report Q4, 2026 results on May 22, 2026 New Risk • Mar 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 7.4% 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: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.4% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹45.28, the stock trades at a trailing P/E ratio of 25x. Average trailing P/E is 26x in the Pharmaceuticals industry in India. Total returns to shareholders of 82% over the past three years. Reported Earnings • Feb 11
Third quarter 2026 earnings released: EPS: ₹0.50 (vs ₹0.49 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.50 (up from ₹0.49 in 3Q 2025). Revenue: ₹4.88b (up 6.5% from 3Q 2025). Net income: ₹275.1m (up 3.1% from 3Q 2025). Profit margin: 5.6% (down from 5.8% in 3Q 2025). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Feb 03
Morepen Laboratories Limited to Report Q3, 2026 Results on Feb 10, 2026 Morepen Laboratories Limited announced that they will report Q3, 2026 results on Feb 10, 2026 Reported Earnings • Nov 17
Second quarter 2026 earnings released Second quarter 2026 results: Revenue: ₹4.16b (down 6.0% from 2Q 2025). Net income: ₹412.1m (up 18% from 2Q 2025). Profit margin: 9.9% (up from 7.9% in 2Q 2025). Announcement • Nov 08
Morepen Laboratories Limited to Report Q2, 2026 Results on Nov 14, 2025 Morepen Laboratories Limited announced that they will report Q2, 2026 results on Nov 14, 2025 Upcoming Dividend • Aug 22
Upcoming dividend of ₹0.20 per share Eligible shareholders must have bought the stock before 29 August 2025. Payment date: 06 October 2025. Payout ratio is a comfortable 9.1% but the company is not cash flow positive. Trailing yield: 0.4%. Lower than top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (0.8%). Reported Earnings • Aug 07
First quarter 2026 earnings released: EPS: ₹0.20 (vs ₹0.71 in 1Q 2025) First quarter 2026 results: EPS: ₹0.20 (down from ₹0.71 in 1Q 2025). Revenue: ₹4.30b (down 6.3% from 1Q 2025). Net income: ₹107.5m (down 70% from 1Q 2025). Profit margin: 2.5% (down from 7.9% in 1Q 2025). 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 13% per year, which means it is significantly lagging earnings growth. Announcement • Aug 06
Morepen Laboratories Limited, Annual General Meeting, Sep 06, 2025 Morepen Laboratories Limited, Annual General Meeting, Sep 06, 2025. Announcement • Aug 02
Morepen Laboratories Limited to Report Q1, 2026 Results on Aug 06, 2025 Morepen Laboratories Limited announced that they will report Q1, 2026 results on Aug 06, 2025 New Risk • May 18
New minor risk - Dividend sustainability The company has a short dividend paying track record. Less than a year of continuous dividend payments. Dividend yield: 0.3% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (30% accrual ratio). Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Share price has been volatile over the past 3 months (9.2% average weekly change). Reported Earnings • May 13
Full year 2025 earnings released: EPS: ₹2.20 (vs ₹1.88 in FY 2024) Full year 2025 results: EPS: ₹2.20 (up from ₹1.88 in FY 2024). Revenue: ₹18.3b (up 7.5% from FY 2024). Net income: ₹1.18b (up 23% from FY 2024). Profit margin: 6.4% (up from 5.7% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • May 12
Morepen Laboratories Limited Proposes Final Dividend for the Financial Year Ended March 31, 2025 Morepen Laboratories Limited proposed Final Dividend of INR 0.20 per share of the face value of INR 2 each for the Financial Year Ended March 31, 2025, subject To Approve the members of the Company at the ensuing Annual General Meeting. Announcement • May 05
Morepen Laboratories Limited to Report Q4, 2025 Results on May 12, 2025 Morepen Laboratories Limited announced that they will report Q4, 2025 results on May 12, 2025 Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹62.22, the stock trades at a trailing P/E ratio of 27.1x. Average trailing P/E is 29x in the Pharmaceuticals industry in India. Total returns to shareholders of 22% over the past three years. 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 8.5% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹50.24, the stock trades at a trailing P/E ratio of 21.8x. Average trailing P/E is 30x in the Pharmaceuticals industry in India. Total returns to shareholders of 32% over the past three years. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹51.81, 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 returns to shareholders of 20% over the past three years. Reported Earnings • Feb 07
Third quarter 2025 earnings released: EPS: ₹0.49 (vs ₹0.63 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.49 (down from ₹0.63 in 3Q 2024). Revenue: ₹4.58b (up 2.1% from 3Q 2024). Net income: ₹266.9m (down 17% from 3Q 2024). Profit margin: 5.8% (down from 7.1% in 3Q 2024). The decrease in margin was driven by higher 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 11% per year. Announcement • Feb 03
Morepen Laboratories Limited to Report Q3, 2025 Results on Feb 06, 2025 Morepen Laboratories Limited announced that they will report Q3, 2025 results on Feb 06, 2025 Announcement • Dec 04
Morepen Laboratories Limited Announces Superannuation of Shantanu Tuli as President -Strategy and Brand Identity Morepen Laboratories Limited informed that Mr. Shantanu Tuli, President -Strategy and Brand Identity, a Senior Management Personnel of the
Company, has been superannuated from his position on 3rd December 2024. Reported Earnings • Nov 12
Second quarter 2025 earnings released: EPS: ₹0.65 (vs ₹0.42 in 2Q 2024) Second quarter 2025 results: EPS: ₹0.65 (up from ₹0.42 in 2Q 2024). Revenue: ₹4.43b (up 4.2% from 2Q 2024). Net income: ₹348.5m (up 64% from 2Q 2024). Profit margin: 7.9% (up from 5.0% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Announcement • Nov 09
Morepen Laboratories Limited to Report Q2, 2025 Results on Nov 11, 2024 Morepen Laboratories Limited announced that they will report Q2, 2025 results on Nov 11, 2024 Announcement • Sep 18
Morepen Laboratories Limited Announces Board Cessation Morepen Laboratories Limited announced that Mr. Manoj Joshi, Mr. Sukhcharan Singh and Mr. Bhupender Raj Wadhwa ceased to be Independent Directors of the Company upon completion of their second term of five consecutive years at the close of business hours on 18th September, 2024. Announcement • Sep 05
Morepen Laboratories Limited, Annual General Meeting, Sep 28, 2024 Morepen Laboratories Limited, Annual General Meeting, Sep 28, 2024, at 13:00 Indian Standard Time. Valuation Update With 7 Day Price Move • Sep 05
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹93.46, the stock trades at a trailing P/E ratio of 43.5x. Average trailing P/E is 42x in the Pharmaceuticals industry in India. Total returns to shareholders of 68% over the past three years. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹70.06, the stock trades at a trailing P/E ratio of 32.6x. Average trailing P/E is 36x in the Pharmaceuticals industry in India. Total returns to shareholders of 44% over the past three years. Announcement • Aug 07
Morepen Laboratories Limited to Report Q1, 2025 Results on Aug 12, 2024 Morepen Laboratories Limited announced that they will report Q1, 2025 results on Aug 12, 2024 New Risk • Aug 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 7.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 05
Full year 2024 earnings released: EPS: ₹1.88 (vs ₹0.77 in FY 2023) Full year 2024 results: EPS: ₹1.88 (up from ₹0.77 in FY 2023). Revenue: ₹17.0b (up 20% from FY 2023). Net income: ₹961.6m (up 149% from FY 2023). Profit margin: 5.7% (up from 2.7% 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 28% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Aug 02
Morepen Laboratories Limited has filed a Follow-on Equity Offering. Morepen Laboratories Limited has filed a Follow-on Equity Offering.
Security Name: Equity Shares
Security Type: Common Stock
Price(minimum): INR 57.23
Transaction Features: Regulation S; Subsequent Direct Listing Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹52.48, the stock trades at a trailing P/E ratio of 27.9x. Average trailing P/E is 33x in the Pharmaceuticals industry in India. Total loss to shareholders of 20% over the past three years. Reported Earnings • May 22
Full year 2024 earnings released: EPS: ₹1.88 (vs ₹0.77 in FY 2023) Full year 2024 results: EPS: ₹1.88 (up from ₹0.77 in FY 2023). Revenue: ₹17.0b (up 20% from FY 2023). Net income: ₹961.6m (up 149% from FY 2023). Profit margin: 5.6% (up from 2.7% 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 28% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • May 16
Morepen Laboratories Limited to Report Q4, 2024 Results on May 21, 2024 Morepen Laboratories Limited announced that they will report Q4, 2024 results on May 21, 2024 Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹51.80, the stock trades at a trailing P/E ratio of 34.8x. Average trailing P/E is 33x in the Pharmaceuticals industry in India. Total returns to shareholders of 1.4% over the past three years. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹48.35, the stock trades at a trailing P/E ratio of 32.2x. Average trailing P/E is 33x in the Pharmaceuticals industry in India. Total returns to shareholders of 32% over the past three years. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹39.35, the stock trades at a trailing P/E ratio of 26.5x. Average trailing P/E is 32x in the Pharmaceuticals industry in India. Total returns to shareholders of 18% over the past three years. Announcement • Mar 01
Morepen Laboratories Limited Announces the Promotion of Amita Sharma to Chief Operating Officer -API Morepen Laboratories Limited announced the promotion of Mrs. Amita Sharma to Chief Operating Officer -API', effective March 1, 2024. Reported Earnings • Feb 01
Third quarter 2024 earnings released: EPS: ₹0.63 (vs ₹0.15 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.63 (up from ₹0.15 in 3Q 2023). Revenue: ₹4.49b (up 28% from 3Q 2023). Net income: ₹319.9m (up 256% from 3Q 2023). Profit margin: 7.1% (up from 2.6% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹52.80, the stock trades at a trailing P/E ratio of 50.8x. Average trailing P/E is 35x in the Pharmaceuticals industry in India. Total returns to shareholders of 74% over the past three years. Announcement • Jan 25
Morepen Laboratories Limited to Report Nine Months, 2024 Results on Jan 31, 2024 Morepen Laboratories Limited announced that they will report nine months, 2024 results on Jan 31, 2024 Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹46.45, the stock trades at a trailing P/E ratio of 44.7x. Average trailing P/E is 31x in the Pharmaceuticals industry in India. Total returns to shareholders of 60% over the past three years. Reported Earnings • Nov 03
Second quarter 2024 earnings released: EPS: ₹0.42 (vs ₹0.33 in 2Q 2023) Second quarter 2024 results: EPS: ₹0.42 (up from ₹0.33 in 2Q 2023). Revenue: ₹4.25b (up 5.2% from 2Q 2023). Net income: ₹212.6m (up 34% from 2Q 2023). Profit margin: 5.0% (up from 3.9% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Oct 28
Morepen Laboratories Limited to Report Q2, 2024 Results on Nov 02, 2023 Morepen Laboratories Limited announced that they will report Q2, 2024 results on Nov 02, 2023 Announcement • Sep 05
Morepen Laboratories Limited, Annual General Meeting, Sep 28, 2023 Morepen Laboratories Limited, Annual General Meeting, Sep 28, 2023, at 13:00 Indian Standard Time. Agenda: To receive, consider and adopt the audited financial statements, including consolidated financial statements, of the company for the financial year ended 31 March 2023 together with the reports of the Directors' and Auditors' thereon; to appoint a director in place of Mr. Sanjay Suri, who retires by rotation at this Annual General Meeting and being eligible, offers himself for re-appointment; to Ratify remuneration of M/s. Vijender Sharma & Co., Cost Accountants, as Cost Auditors of the company; to approve remuneration paid/ payable to Mr. Sushil Suri as the Chairman & Managing Director from 1 April 2023 to 19 October 2023; and to consider re-appointment of Mr. Sushil Suri as the Chairman & Managing Director. Reported Earnings • Aug 06
First quarter 2024 earnings released: EPS: ₹0.29 (vs ₹0.12 in 1Q 2023) First quarter 2024 results: EPS: ₹0.29 (up from ₹0.12 in 1Q 2023). Revenue: ₹4.03b (up 33% from 1Q 2023). Net income: ₹146.3m (up 160% from 1Q 2023). Profit margin: 3.6% (up from 1.9% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • May 17
Full year 2023 earnings released: EPS: ₹0.77 (vs ₹2.26 in FY 2022) Full year 2023 results: EPS: ₹0.77 (down from ₹2.26 in FY 2022). Revenue: ₹14.2b (down 8.5% from FY 2022). Net income: ₹386.8m (down 62% from FY 2022). Profit margin: 2.7% (down from 6.5% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Announcement • May 11
Morepen Laboratories Limited to Report Q4, 2023 Results on May 16, 2023 Morepen Laboratories Limited announced that they will report Q4, 2023 results on May 16, 2023 Reported Earnings • Feb 14
Third quarter 2023 earnings released: EPS: ₹0.15 (vs ₹0.48 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.15 (down from ₹0.48 in 3Q 2022). Revenue: ₹3.50b (down 12% from 3Q 2022). Net income: ₹89.9m (down 58% from 3Q 2022). Profit margin: 2.6% (down from 5.4% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 05
Morepen Laboratories Limited to Report Q3, 2023 Results on Feb 13, 2023 Morepen Laboratories Limited announced that they will report Q3, 2023 results on Feb 13, 2023 Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improved over the past week After last week's 35% share price gain to ₹42.65, the stock trades at a trailing P/E ratio of 39.4x. Average trailing P/E is 26x in the Pharmaceuticals industry in India. Total returns to shareholders of 172% over the past three years. Board Change • Nov 16
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. 2 experienced directors. 4 highly experienced directors. Independent Director - Savita was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 12
Second quarter 2023 earnings released: EPS: ₹0.33 (vs ₹0.83 in 2Q 2022) Second quarter 2023 results: EPS: ₹0.33 (down from ₹0.83 in 2Q 2022). Revenue: ₹4.04b (up 1.4% from 2Q 2022). Net income: ₹158.1m (down 58% from 2Q 2022). Profit margin: 3.9% (down from 9.4% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 22% share price decline to ₹24.80, the stock trades at a trailing P/E ratio of 18.5x. Average trailing P/E is 23x in the Pharmaceuticals industry in India. Total returns to shareholders of 54% over the past three years. Board Change • Sep 02
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. 2 experienced directors. 4 highly experienced directors. Independent Director - Savita was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 30
First quarter 2023 earnings released: EPS: ₹0.12 (vs ₹0.68 in 1Q 2022) First quarter 2023 results: EPS: ₹0.12 (down from ₹0.68 in 1Q 2022). Revenue: ₹3.03b (down 22% from 1Q 2022). Net income: ₹56.3m (down 82% from 1Q 2022). Profit margin: 1.9% (down from 7.8% in 1Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 07
Full year 2022 earnings released: EPS: ₹2.26 (vs ₹2.16 in FY 2021) Full year 2022 results: EPS: ₹2.26 (up from ₹2.16 in FY 2021). Revenue: ₹15.6b (up 30% from FY 2021). Net income: ₹1.02b (up 4.7% from FY 2021). Profit margin: 6.5% (down from 8.1% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improved over the past week After last week's 17% share price gain to ₹51.05, the stock trades at a trailing P/E ratio of 21x. Average trailing P/E is 24x in the Pharmaceuticals industry in India. Total returns to shareholders of 198% over the past three years. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improved over the past week After last week's 16% share price gain to ₹43.90, the stock trades at a trailing P/E ratio of 17.5x. Average trailing P/E is 23x in the Pharmaceuticals industry in India. Total returns to shareholders of 149% over the past three years. Reported Earnings • Feb 09
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹0.48 (down from ₹0.53 in 3Q 2021). Revenue: ₹3.99b (up 29% from 3Q 2021). Net income: ₹215.2m (down 9.5% from 3Q 2021). Profit margin: 5.4% (down from 7.7% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 15
Second quarter 2022 earnings released: EPS ₹0.83 (vs ₹0.60 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹3.98b (up 17% from 2Q 2021). Net income: ₹373.6m (up 38% from 2Q 2021). Profit margin: 9.4% (up from 8.0% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Board Change • Sep 15
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director - Savita was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improved over the past week After last week's 17% share price gain to ₹60.65, the stock trades at a trailing P/E ratio of 21.6x. Average trailing P/E is 25x in the Pharmaceuticals industry in India. Total returns to shareholders of 123% over the past three years. Board Change • Sep 14
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director - Savita was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₹50.55, the stock trades at a trailing P/E ratio of 22.8x. Average trailing P/E is 26x in the Pharmaceuticals industry in India. Total returns to shareholders of 73% over the past three years. Reported Earnings • Jul 28
First quarter 2022 earnings released: EPS ₹0.68 (vs ₹0.43 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ₹3.88b (up 50% from 1Q 2021). Net income: ₹304.7m (up 57% from 1Q 2021). Profit margin: 7.8% (up from 7.5% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improved over the past week After last week's 17% share price gain to ₹64.55, the stock trades at a trailing P/E ratio of 27.1x. Average trailing P/E is 23x in the Pharmaceuticals industry in India. Total returns to shareholders of 123% over the past three years. Announcement • Apr 29
Morepen Laboratories Limited announced that it expects to receive INR 4.3336 billion in funding from Liquid Holdings Pvt Ltd, Corinth Investment Holdings AG Morepen Laboratories Limited (BSE:500288) announced a private placement of up to 108,500,000 shares of par value, INR 2 for aggregate gross proceeds of INR 4,333,600,000 on April 28, 2021. The transaction will include participation from returning investor, Liquid Holdings Pvt Ltd for 50,000,000 shares at a price of INR 38 per share for gross proceeds of INR 1,900,000,000 and new investor, Corinth Investment Holdings AG for 58,500,000 shares representing 10.48% stake at a price of INR 41.60 per share for gross proceeds of INR 2,433,600,000. Post to the transaction, Liquid Holdings Pvt Ltd will hold 8.96% stake in the company. The company is issuing shares on a preferential basis. The transaction has been approved by board of directors of the company and is subject to approval of shareholders in an extra-ordinary general meeting held on May 20, 2021 and regulatory approval. The shares that are being issued are subject to a lock-up period. The allotment of shares is proposed to be completed within a maximum period of 15 days from the date of approval of shareholders, provided that where the allotment is pending on account of pendency of any approval by any regulatory authority, or the Central Government then, the allotment shall be completed within 15 days from the date of receipt of such approval. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improved over the past week After last week's 28% share price gain to ₹50.00, the stock trades at a trailing P/E ratio of 27.6x. Average trailing P/E is 21x in the Pharmaceuticals industry in India. Total returns to shareholders of 30% over the past three years. Is New 90 Day High Low • Mar 08
New 90-day high: ₹35.10 The company is up 8.0% from its price of ₹32.50 on 08 December 2020. The Indian market is up 15% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Pharmaceuticals industry, which is down 1.0% over the same period. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment improved over the past week After last week's 21% share price gain to ₹35.10, the stock is trading at a trailing P/E ratio of 16.2x, up from the previous P/E ratio of 13.4x. This compares to an average P/E of 20x in the Pharmaceuticals industry in India. Total returns to shareholders over the past three years are 10%. 
