Parenteral Drugs (India) reports 35.7% revenue decline in FY2015
31-05-2015 • About Parenteral Drugs (India) (
$PARENTLD) • By InTwits
Parenteral Drugs (India) reported FY2015 financial results today. Overall the company's long term financial model is characterised by the following facts: Parenteral Drugs (India) is a company in decline: FY2015 revenue growth was -35.7%, 5 years revenue CAGR was -2.8%.
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Parenteral Drugs (India) ($PARENTLD) key annual financial indicators
| mln. INR | 2011 | 2012 | 2013 | 2014 | 2015 | 2015/2014 |
|---|
P&L
|
|---|
| Revenue | 4,822 | 3,325 | 3,274 | 2,737 | 1,759 | -35.7% |
| EBITDA | 498 | 144 | -138 | | 134 | |
| Net Income | 44 | -534 | -1,078 | -452 | -541 | |
Balance Sheet
|
|---|
| Cash | 48 | 63 | 69 | | | |
| Short Term Debt | 1,650 | 1,599 | 836 | | | |
| Long Term Debt | 1,605 | 2,230 | 4,003 | | | |
Cash flow
|
|---|
| Capex | 1,091 | 1,481 | 212 | | | |
Ratios
|
|---|
| Revenue growth | 137.7% | -31.0% | -1.5% | -16.4% | -35.7% | |
| EBITDA growth | -25.0% | -71.0% | -195.7% | | | |
| EBITDA Margin | 10.3% | 4.3% | -4.2% | 0.0% | 7.6% | 7.6% |
| Net Income Margin | 0.9% | -16.1% | -32.9% | -16.5% | -30.7% | -14.2% |
| CAPEX, % of revenue | 22.6% | 44.5% | 6.5% | | | 0.0% |
| ROIC | 5.9% | -0.0% | -4.8% | | | 0.0% |
| ROE | 1.4% | -16.1% | -38.1% | | | 0.0% |
| Net Debt/EBITDA | 6.4x | 26.1x | | | 0.0x | 0.0x |
Revenue and profitability
Parenteral Drugs (India)'s Revenue dropped on 35.7% in FY2015.
Net Income marign dropped on 14.2 pp from -16.5% to -30.7% in FY2015.
Appendix 1: Peers in Pharmaceuticals
Below you can find Parenteral Drugs (India) benchmarking vs. other companies in Pharmaceuticals industry. It's shown for the period of 5 years for the key financial metrics. Each table has median value for all the companies in the industry together with individual financial data of the top-5 companies in the industry by particular financial metric.
Top companies by Revenue growth, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Mangalam Drugs & Organics ($MANGALAM) | | 16.6% | -18.2% | -2.1% | 79.8% |
| Sun Pharmaceutical Industries ($SUNPHARMA) | | 39.9% | 40.4% | 42.4% | 70.2% |
| Marksans Pharma ($MARKSANS) | | 16.7% | 23.3% | 43.3% | 26.8% |
| Torrent Cables ($TORRCABS) | | 27.5% | 17.4% | -42.9% | 26.5% |
| Lincoln Pharmaceuticals ($LINCOPH) | | 6.3% | 3.8% | 8.5% | 25.9% |
| |
|---|
| Median (38 companies) | -37.2% | 16.7% | 14.9% | 13.7% | 9.8% |
|---|
| Parenteral Drugs (India) ($PARENTLD) | | -31.0% | -1.5% | -16.4% | -35.7% |
Top companies by Gross margin, %
| Top | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Dr.Reddy'S Laboratories ($DRREDDY) | | | 52.1% | 57.4% | 57.6% |
| Omega Laboratories ($OMEGALAB) | | 0.0% | 0.0% | 0.0% | 0.0% |
| |
|---|
| Median (2 companies) | | 46.9% | 26.1% | 28.7% | 28.8% |
|---|
Top companies by EBITDA margin, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Divi'S Laboratories ($DIVISLAB) | 38.1% | 37.2% | 38.2% | 40.2% | 37.4% |
| Hester Biosciences ($HESTERBIO) | | | | | 32.9% |
| Sun Pharmaceutical Industries ($SUNPHARMA) | 34.3% | 40.8% | 44.3% | 44.9% | 29.2% |
| Natco Pharma ($NATCOPHARM) | 21.3% | 21.5% | 23.2% | 24.9% | 26.2% |
| Dr.Reddy'S Laboratories ($DRREDDY) | 21.7% | 25.8% | 22.9% | 25.1% | 23.2% |
| |
|---|
| Median (51 companies) | 16.5% | 12.9% | 13.4% | 14.5% | 13.8% |
|---|
| Parenteral Drugs (India) ($PARENTLD) | 10.3% | 4.3% | -4.2% | | 7.6% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Claris Lifesciences ($CLARIS) | 32.5% | 58.1% | 42.9% | | 103.1% |
| Wintac ($WINTAC) | | | | | 22.8% |
| Hester Biosciences ($HESTERBIO) | | | | | 21.5% |
| Ipca Laboratories ($IPCALAB) | 10.3% | 11.2% | 8.3% | 11.6% | 17.8% |
| Natco Pharma ($NATCOPHARM) | 20.0% | 24.4% | 16.3% | 14.4% | 14.1% |
| |
|---|
| Median (31 companies) | 7.3% | 7.7% | 8.3% | 5.8% | 6.2% |
|---|
Top companies by ROIC, %
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Marksans Pharma ($MARKSANS) | -25.8% | -142.4% | 34.9% | 33.8% | 41.2% |
| Alembic Pharmaceuticals ($APLLTD) | | 27.5% | 29.1% | 41.5% | 35.7% |
| Jenburkt Pharmaceuticals ($JENBURPH) | 43.6% | 34.1% | 29.0% | 32.4% | 35.3% |
| Abbott India ($ABBOTINDIA) | 36.0% | 29.6% | 26.9% | 30.5% | 34.2% |
| Divi'S Laboratories ($DIVISLAB) | 25.6% | 30.6% | 30.4% | 32.3% | 30.5% |
| |
|---|
| Median (58 companies) | 14.0% | 14.0% | 13.8% | 15.0% | 13.3% |
|---|
| Parenteral Drugs (India) ($PARENTLD) | 5.9% | -0.0% | -4.8% | | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|
| Jubilant Life Sciences Limited ($JUBILANT) | 5.3x | 4.0x | 3.5x | 3.5x | 6.4x |
| Shasun Pharmaceuticals ($SHASUNPHAR) | 4.5x | 2.8x | 4.5x | 6.0x | 6.2x |
| Claris Lifesciences ($CLARIS) | 1.5x | 1.9x | 1.1x | 1.8x | 3.2x |
| Dishman Pharmaceuticals & Chemicals ($DISHMAN) | 3.7x | 3.6x | 2.6x | 2.3x | 2.9x |
| Neuland Laboratories ($NEULANDLAB) | 4.9x | 4.2x | 3.5x | 2.6x | 2.6x |
| |
|---|
| Median (47 companies) | 1.5x | 1.4x | 1.3x | 0.4x | 0.2x |
|---|
| Parenteral Drugs (India) ($PARENTLD) | 6.4x | 26.1x | | | 0.0x |
