Innova Captab Ltd - Stock Valuation and Financial Performance

BSE: 544067 | NSE: INNOVACAP | Pharmaceuticals & Drugs | Small Cap

Innova Captab Share Price

776.05 15.40 2.02%
as on 31-Oct'24 16:01

DeciZen - make an informed investing decision on Innova Captab

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Innova Captab stock performance -

mw4me loader
P/E Ratio (SA):
59.39
Market Cap:
4,465 Cr.
52-wk low:
421.6
52-wk high:
840

Is Innova Captab Ltd an attractive stock to invest in?

1. Is Innova Captab Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Innova Captab Ltd is a good quality company.

2. Is Innova Captab Ltd undervalued or overvalued?

The key valuation ratios of Innova Captab Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Innova Captab Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Innova Captab Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of Innova Captab:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Innova Captab Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 19.2%26.6%28.4%32.6%21.7%14.6%-
Value Creation
Index
0.40.91.01.30.60.0-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 357373411785859865873
Sales YoY Gr.-4.6%10%91.3%9.3%0.7%-
Adj EPS 45.77.113.511.511.913.1
YoY Gr.-41.5%25.4%90.7%-15.3%3.7%-
BVPS (₹) 17.12330.243.955.9126.5130.4
Adj Net
Profit
19.227.234.16555.16875
Cash Flow from Ops. 18.930.841.658.339.3112-
Debt/CF from Ops. 3.81.71.1362.2-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NA19.4%28.2%0.7%
Adj EPS NA24.3%18.8%3.7%
BVPSNA49.2%61.2%126.2%
Share Price - - - -

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
23.428.226.736.62313.710.2
Op. Profit
Mgn %
11.213.613.312.511.512.712.4
Net Profit
Mgn %
5.47.38.38.36.47.98.6
Debt to
Equity
0.90.50.30.80.90.3-
Working Cap
Days
015819814016920994
Cash Conv.
Cycle
0647350586034

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 28.18%

Net Profit is growing at healthy rate in last 3 years 18.75%

Debt to equity has declined versus last 3 years average to 0.33

Return on Equity has declined versus last 3 years average to 10.20%

Sales growth is not so good in last 4 quarters at -1.79%

Latest Financials - Innova Captab Ltd.

Standalone Consolidated
TTM EPS (₹) 13.1 18.6
TTM Sales (₹ Cr.) 873 1,142
BVPS (₹.) 130.4 150.4
Reserves (₹ Cr.) 689 803
P/BV 5.98 5.19
PE 59.39 42.03
From the Market
52 Week Low / High (₹) 421.55 / 840.00
All Time Low / High (₹) 421.55 / 840.00
Market Cap (₹ Cr.) 4,465
Equity (₹ Cr.) 57.2
Face Value (₹) 10
Industry PE 46.8

Management X-Ray of Innova Captab:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Innova Captab

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales357373411785859865
Operating Expenses 317322356687760757
Manufacturing Costs76949109162168
Material Costs286224273520528506
Employee Cost 172022374450
Other Costs 7912212733
Operating Profit 4051549999108
Operating Profit Margin (%) 11.1%13.6%13.3%12.5%11.5%12.5%
Other Income 0113911
Interest 55451814
Depreciation 1110671111
Exceptional Items 000000
Profit Before Tax 243846897894
Tax 51012222126
Profit After Tax 192835665868
PAT Margin (%) 5.4%7.5%8.4%8.4%6.7%7.9%
Adjusted EPS (₹)4.05.87.213.812.011.9
Dividend Payout Ratio (%)0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 82110145211268724
Share Capital 121212124857
Reserves 7098133199220666
Minority Interest000000
Debt664839165232231
Long Term Debt3912667134208
Short Term Debt263633989823
Trade Payables6072112140148154
Others Liabilities 202473407171
Total Liabilities 2282543705567191,180

Fixed Assets

Gross Block1198396185195207
Accumulated Depreciation401016243344
Net Fixed Assets787379161161164
CWIP 007022339
Investments 000606060
Inventories3365911059794
Trade Receivables9587139174230217
Cash Equivalents 151221586
Others Assets20244154134219
Total Assets 2282543705567191,180

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 1931425839112
PBT 243846897894
Adjustment 161410122422
Changes in Working Capital -17-12-1-22-4420
Tax Paid -4-9-13-21-19-24
Cash Flow From Investing Activity -9-6-20-188-88-472
Capex -9-4-18-80-78-277
Net Investments -1005-10-63
Others 0-2-1-1130-131
Cash Flow From Financing Activity -10-23-1912551368
Net Proceeds from Shares 00000323
Net Proceeds from Borrowing -7-17-96914153
Interest Paid -5-5-3-6-11-7
Dividend Paid 000000
Others 2-2-76148-101
Net Cash Flow 013-538
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)23.3828.9927.0437.2224.0213.74
ROCE (%)19.1926.5828.4232.5921.714.62
Asset Turnover Ratio1.571.551.321.71.350.91
PAT to CFO Conversion(x)11.111.20.880.671.65
Working Capital Days
Receivable Days9789100738694
Inventory Days344870464340
Payable Days7610712389100109

Innova Captab Ltd Stock News

Innova Captab Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Innova Captab on 31-Oct-2024 16:01 is ₹776.0.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 31-Oct-2024 16:01 the market cap of Innova Captab stood at ₹4,465.
The latest P/E ratio of Innova Captab as of 31-Oct-2024 16:01 is 59.39.
The latest P/B ratio of Innova Captab as of 31-Oct-2024 16:01 is 5.98.
The 52-week high of Innova Captab is ₹840.0 and the 52-week low is ₹421.6.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Innova Captab is ₹873.1 ( Cr.) .

About Innova Captab Ltd

Innova Captab was incorporated in Mumbai, Maharashtra, as ‘Harun Health Care Private Limited’, a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated January 3, 2005, issued by the RoC. Thereafter, pursuant to a resolution passed by its Shareholders in the extraordinary general meeting held on December 26, 2009, the name of the Company was changed from ‘Harun Health Care Private Limited’ to ‘Innova Captab Private Limited’, in order to reflect innovations in the pharmaceutical sector. Consequently, a fresh certificate of incorporation dated February 2, 2010, was issued by the RoC to the company. Subsequently, the Company was converted from a private limited company to a public limited company, pursuant to a resolution passed by its Shareholders in the extraordinary general meeting held on July 12, 2018, and consequently, the name of the Company was changed to its present name ‘Innova Captab Limited’, and a fresh certificate of incorporation dated July 26, 2018, was issued by the RoC to the Company.

The company is an integrated pharmaceutical company in India with a presence across the pharmaceuticals value chain including research and development, manufacturing, drug distribution and marketing and exports. Its business includes (i) a contract development and manufacturing organization (CDMO) business providing manufacturing services to Indian pharmaceutical companies, (ii) a domestic branded generics business and (iii) an international branded generics business.

The company’s CDMO services and products include commercial large-scale manufacturing of generic products. It also enters into loan license agreements with its customers. Its comprehensive CDMO formulation capabilities allow it to offer its customers multiple dosage forms, including oral solids, oral liquids, dry syrups and injectables, as well as more complex delivery forms such as modified and sustained release forms and tablets in capsules. It also has added products using new technologies like nano technology. Its CDMO product portfolio spans across both acute and chronic therapeutic areas. It manufacture products across some of the key therapeutic areas identified by, including cephalosporins, proton pump inhibitors, anticholinergic and heparin NSAIDs, analgesics and antipyretic, anticold and antiallergic, antiemetic, antidiabetic, antispasmodic, antifibrinolytic, cardiovascular, antioxidant and vitamins, antihyperuricemia and antigout, fluroquinolone and macrolide, nootropics and neurotronic/neurotrophic, antiulcerative, antimalarial anxiolytic, anticonvulsant and antipsychotic, bladder and prostate disorders, antifungal, anthelmintic and antiviral anticholinergic and anti-asthmatic and bronchodilator and erectile dysfunction. 

The company’s branded generics business consists of the development, manufacture and distribution of generic formulation products, which are marketed and distributed in India under its own brand names through online and offline channels. Its branded generic products are generic medicines for which the patents have expired, that are sold directly to its distributors, stockists and retailers. It has developed a diversified branded generics product portfolio including tablets, capsules, dry syrups, dry powder injection, ointments and liquid orals. It sells its domestic branded generic products through its pan-Indian network of distributors, stockists and pharmacies.

Business area of the company

The company is an integrated pharmaceutical company in India with a presence across the pharmaceuticals value chain including research and development, manufacturing, drug distribution and marketing and exports. Its business includes (i) a CDMO business providing manufacturing services to Indian pharmaceutical companies, (ii) a domestic branded generics business and (iii) an international branded generics business.

Products of the company

  • Tablets
  • Capsules 
  • Dry syrups 
  • Dry powder injection.
  • Ointments 
  • Liquid orals

Awards, accreditations or recognitions

  • 2018: Received the company registration certificate for production of cephalosporin products and general products from the Ministry of Health and Population, Republic of Yemen.
  • 2018: Received certificate of foreign pharmaceutical manufacturing company registration from the Ministry of Public Health, Islamic Republic of Afghanistan.
  • 2019: Received certificate of compliance to good manufacturing practices for manufacture and packaging of general pharmaceutical formulations from Tanzania Medicines and Medical Devices Authority.
  • 2019: Received certificate of GMP compliance of a manufacturer for manufacturing operations of medicinal products from the Medicines Authority of Malta.
  • 2020 Received recognition for its in-house research and development units from the Department of Scientific and Industrial Research, Ministry of Science and Technology, Government of India.
  • 2021: Received GMP certificate for good manufacturing practices for production, packing and quality control of tablets, capsules and external preparations from the Health and Family Welfare Department, Government of Himachal Pradesh.
  • 2021: Received GMP certificate for good manufacturing practices in respect of tablets, capsules and external preparations from the Health and Family Welfare Department, Government of Himachal Pradesh.
  • 2021: Received the good laboratory practices (GLP) certificate for good laboratory practices for testing of tablets, capsules and external preparations from the Health and Family Welfare Department, Government of Himachal Pradesh.
  • 2021: Received certificate of compliance with GMP guidelines for manufacture of beta lactam (cephalasporin) products from the National Drug Authority, Uganda.
  • 2021: Received certificate of compliance with GMP guidelines for manufacture of beta lactam (cephalasporin) and non-beta lactam products from the National Drug Authority, Uganda.
  • 2021: Received certificate of GMP for production, packing and quality control of cephalasporin and general products from the Health and Family Welfare Department, Government of Himachal Pradesh.
  • 2021: Received certificate of GMP compliance for manufacturing/production and aseptic filling of vials of cephalosporin products from the Food, Medicine and Health Care Administration and Control Authority of Ethiopia.
  • 2022: Received GMP certificate for good manufacturing practices in respect of beta lactam and non-beta lactam products from the Health and Family Welfare Department, Government of Himachal Pradesh.
  • 2022: Received GLP certificate for good laboratory practices for testing of beta lactam and non-beta lactam products from the Health and Family Welfare Department, Government of Himachal Pradesh.

History and milestones 

  • 2006: Established its first manufacturing plant in Baddi, Himachal Pradesh.
  • 2010: Changed the name of the Company from ‘Harun Health Care Private Limited’ to ‘Innova Captab Private Limited’.
  • 2010: Commenced operations at the cephalosporin block of its plant in Baddi, Himachal Pradesh.
  • 2013: Crossed Rs 50 crore in total revenue.
  • 2013: Received its first international accreditation in the form of certificate of good manufacturing practices (GMP) for all manufacturing activities of the Company in relation to its cephalosporin products from the Ministry of Medical Services, Republic of Kenya.
  • 2015: Incorporated Univentis Medicare Limited through which it undertakes its marketing operations.
  • 2018: Converted the Company from a private limited company to a public limited company.
  • 2019: Crossed Rs 300 crore in total revenue.
  • 2021: Leased land to establish industrial plant at Samba, Jammu and Kashmir.
  • 2021: Acquired land to build state of art research and development centre in Panchkula, Haryana
  • 2021: Acquired the assets and liabilities of Innova Partnership on going concern through slump sale.
  • 2021: Acquired Univentis Medicare Limited as a wholly owned subsidiary.
  • 2023: Acquisition of Sharon Bio-Medicine Limited through its wholly owned subsidiary Univentis Medicare Limited.

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