Mylan Laboratories Ltd - Stock Valuation and Financial Performance

Name: Mylan Laboratories
Brand: Mylan Laboratories

BSE: 524794 | NSE: MATRIXLABS | Pharmaceuticals & Drugs | Small Cap

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Mylan Laboratories stock performance -

PE Chart Key Ratios

P/E Ratio (SA):

18.02

Market Cap:

3,273 Cr.

52-wk low:

208.8

52-wk high:

211

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1. Is a good quality company?

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2. Is undervalued or overvalued?

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10 Year X-Ray of Mylan Laboratories:

Analysis of Financial Track Record

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

Standalone Basis ^P Consolidated Basis

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

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'11	Mar'12	Mar'13	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	TTM
ROCE % ⓘ	20.8%	18%	15.4%	8.9%	2.1%	1.2%	-0.4%	-0.2%	0.2%	4.2%	-
Value Creation Index ⓘ	0.5	0.3	0.1	-0.4	-0.9	-0.9	-1.0	-1.0	-1.0	-0.7	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	2,853	3,952	5,392	6,978	7,857	9,467	9,623	9,638	10,969	12,239	12,239
Sales YoY Gr.	-	38.5%	36.4%	29.4%	12.6%	20.5%	1.6%	0.2%	13.8%	11.6%	-
Adj EPS ⓘ	26.1	29.2	33.3	26.8	-8.7	-13.3	-27.4	-24.6	-22.3	2.8	11.6
YoY Gr.	-	12.2%	13.9%	-19.7%	-132.7%	NA	NA	NA	NA	NA	-
BVPS (₹) ⓘ	104.5	118.6	159.1	226.2	239.8	280.3	333.2	316	294.7	289.9	56.7
Adj Net Profit ⓘ	408	457	521	494	-165	-323	-667	-598	-542	68.1	182
Cash Flow from Ops. ⓘ	139	50.1	351	384	679	256	1,605	2,101	1,325	1,686	-
Debt/CF from Ops. ⓘ	6	24.2	5.1	17.2	10.3	42.8	5.8	4.1	6.5	5.1	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	17.6%	9.3%	8.4%	11.6%
Adj EPS ⓘ	-22%	NA	NA	NA
BVPSⓘ	12%	3.9%	-4.5%	-1.6%
Share Price	-	-	-	-

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'11	Mar'12	Mar'13	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	TTM
Return on Equity % ⓘ	29.3	26.2	24	14.8	-3.7	-5.6	-8.9	-7.6	-7.3	1	6.7
Op. Profit Mgn % ⓘ	21	19.7	18.6	16.9	12.7	13.3	15.3	19	16	18.6	20.1
Net Profit Mgn % ⓘ	14.3	11.6	9.7	7.1	-2.1	-3.4	-6.9	-6.2	-4.9	0.6	1.5
Debt to Equity ⓘ	0.5	0.7	0.7	1.6	1.5	1.6	1.1	1.1	1.2	1.2	-
Working Cap Days ⓘ	196	232	239	274	355	360	364	359	344	329	0
Cash Conv. Cycle ⓘ	98	102	99	112	152	162	199	201	187	192	0

Recent Performance Summary

No data to display

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

Sales growth has been subdued in last 3 years %

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

Latest Financials - Mylan Laboratories Ltd.

	Standalone	Consolidated
TTM EPS (₹)	11.6	-30
TTM Sales (₹ Cr.)	12,239	9,623
BVPS (₹.) ⓘ	56.7	517.8
Reserves (₹ Cr.) ⓘ	855	8,064
P/BV ⓘ	3.69	0.40
PE ⓘ	18.02	0.00

From the Market
52 Week Low / High (₹)	208.80 / 211.00
All Time Low / High (₹)	0.42 / 312.80
Market Cap (₹ Cr.)	3,273
Equity (₹ Cr.)	31.3
Face Value (₹)	2
Industry PE ⓘ	47.5

Management X-Ray of Mylan Laboratories:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

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

Valuation of Mylan Laboratories

Analyst's Notes

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Key Ratios of Mylan Laboratories

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'11	Mar'12	Mar'13	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20
Sales	2,852.97	3,952.39	5,392.08	6,978.40	7,857.16	9,467.28	9,622.84	9,637.99	10,969.04	12,238.57
Operating Expenses ⓘ	2,256.10	3,180.74	4,394.56	5,805.12	6,864.61	8,216.43	8,198.29	7,806.27	9,231.39	9,972.36
Manufacturing Costs	536.36	634.14	913.55	846.30	1,501.68	1,547.13	1,542.60	1,327.53	1,731.09	1,767.43
Material Costs	1,352.14	2,070.59	2,880.62	3,705.71	3,984.35	4,741.47	4,746.71	4,477.78	5,549.35	6,107.30
Employee Cost	192.83	222.53	291.84	405.85	645.21	809.97	1,007.96	1,064.38	1,106.04	1,195.46
Other Costs ⓘ	174.77	253.47	308.54	847.26	733.38	1,117.86	901.02	936.58	844.92	902.17
Operating Profit ⓘ	596.88	771.65	997.52	1,173.28	992.55	1,250.85	1,424.55	1,831.73	1,737.65	2,266.21
Operating Profit Margin (%)	20.9%	19.5%	18.5%	16.8%	12.6%	13.2%	14.8%	19.0%	15.8%	18.5%
Other Income ⓘ	41.56	44.89	205.98	249.57	495.34	349.98	476.26	500.20	308.79	246.78
Interest ⓘ	45.96	57.57	63.02	248.46	568.63	716.46	856.94	816.97	827.76	849.91
Depreciation ⓘ	60.19	77.93	96.47	346.18	851.90	1,190.80	1,681.19	1,805.90	1,567.23	1,244.57
Exceptional Items ⓘ	85.14	-13.06	-191.48	298.38	0	0	0	0	0	0
Profit Before Tax ⓘ	617.42	667.98	852.54	1,126.59	67.36	-306.42	-637.32	-290.94	-348.54	418.50
Tax ⓘ	151.70	198.74	333	281.68	-66.93	-171.67	-167.77	39.94	59.73	236.88
Profit After Tax	465.72	469.24	519.54	844.91	134.28	-134.75	-469.55	-330.89	-408.27	181.62
PAT Margin (%)	16.3%	11.9%	9.6%	12.1%	1.7%	-1.4%	-4.9%	-3.4%	-3.7%	1.5%
Adjusted EPS (₹)	29.8	30.0	33.2	45.7	7.1	-5.5	-19.3	-13.6	-16.8	7.5
Dividend Payout Ratio (%)	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'11	Mar'12	Mar'13	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20
Equity and Liabilities
Shareholders Fund	1,633.35	1,853.62	2,486.76	4,179.09	4,538.87	6,825.33	8,112.63	7,694.53	7,175.08	7,059.68
Share Capital ⓘ	31.27	31.27	31.27	36.95	37.86	48.70	48.70	48.70	48.70	48.70
Reserves ⓘ	1,602.08	1,822.35	2,455.49	4,142.14	4,501.01	6,776.63	8,063.93	7,645.83	7,126.37	7,010.98
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	835.64	1,204.66	1,692.61	6,573.85	6,888.52	10,638.56	8,939.71	8,268.43	8,471.55	8,240.80
Long Term Debt	835.64	521.81	691.63	6,033.95	6,778.27	10,198	8,738.66	8,268.43	8,471.55	8,240.80
Short Term Debt	0	682.85	1,000.98	539.90	110.24	440.56	201.05	0	0	0
Trade Payables	528.87	855.08	1,139.98	1,611.17	1,637.18	1,815.39	1,578.11	2,043.91	2,371.70	2,098.52
Others Liabilities ⓘ	357.34	1,056.55	737.22	2,025.22	2,839.04	2,809.21	1,523.56	1,388.45	1,143.58	2,005.75
Total Liabilities ⓘ	3,355.20	4,969.90	6,056.58	14,389.33	15,903.60	22,088.50	20,154.01	19,395.33	19,161.91	19,404.76
Fixed Assets
Gross Block	1,506.98	1,771.49	2,320.12	6,904.87	7,722.24	13,726.86	14,727.05	15,371.24	15,780.69	16,531.98
Accumulated Depreciation	353.54	416.73	520.21	684.99	1,712.27	2,917.82	4,589.27	6,295.39	7,832.89	9,016.02
Net Fixed Assetsⓘ	1,153.44	1,354.77	1,799.91	6,219.88	6,009.97	10,809.04	10,137.78	9,075.86	7,947.80	7,515.96
CWIP ⓘ	118.77	109.80	131.43	1,020.85	941.23	804.67	762.06	366.53	328.27	434.62
Investmentsⓘ	261.80	245.12	53.64	156.40	163.02	0.23	0.23	0.23	0.23	0.23
Inventories	982.72	1,296.74	1,757.23	2,470.41	3,157.12	3,759.33	3,477.25	3,815.90	4,735.74	4,439.14
Trade Receivables	577.27	1,050.25	1,269.29	2,254.97	2,139.69	3,126.33	3,603.75	3,607.04	3,669.75	5,083.77
Cash Equivalents	14.61	3.98	204.20	318.38	113.92	383.74	173.77	88.70	84.10	179.58
Others Assetsⓘ	246.59	909.25	840.89	1,948.43	3,378.66	3,205.15	1,999.18	2,441.09	2,396.03	1,751.46
Total Assets ⓘ	3,355.20	4,969.90	6,056.58	14,389.33	15,903.60	22,088.50	20,154.01	19,395.33	19,161.91	19,404.76

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'11	Mar'12	Mar'13	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20
Cash Flow From Operating Activity ⓘ	138.79	50.06	350.85	384.47	679.16	256.18	1,605.09	2,101.05	1,324.66	1,685.96
PBT ⓘ	532.28	681.05	1,044.02	1,126.59	67.36	-306.42	-637.32	-290.94	-348.54	418.50
Adjustment ⓘ	109.34	190.08	213.55	373.51	1,514.71	1,925.29	2,777.57	2,202.64	2,585.05	2,268.94
Changes in Working Capital ⓘ	-358.51	-675.85	-608.35	-826.75	-837.12	-1338.35	-511.81	213.64	-902	-996.21
Tax Paid ⓘ	-144.33	-145.22	-298.37	-288.87	-65.78	-24.33	-23.35	-24.29	-9.85	-5.27
Cash Flow From Investing Activity ⓘ	-330.81	-340.78	-834.97	-5,760.98	-469.03	-5,793.96	-568.66	-632.12	-372.15	-421.19
Capex	-331.90	10.07	0.23	-532.36	-585.97	-716.32	-931.92	-511.28	-358.36	-497.50
Net Investments	0.35	0.83	1.22	-230.92	125.66	-47.64	272.37	0	0	0
Others ⓘ	0.73	-351.67	-836.42	-4,997.70	-8.71	-5,030	90.89	-120.84	-13.79	76.31
Cash Flow From Financing Activityⓘ	198.04	279.77	524	5,420.43	-279.92	5,574.30	-966.63	-1,553.71	-960.36	-1,118.32
Net Proceeds from Shares ⓘ	0	0	0	952.01	0	2,476.88	0	0	0	0
Net Proceeds from Borrowing ⓘ	-19.63	-28.50	-16.88	-107.58	0	0	204.38	0	0	0
Interest Paid ⓘ	-42.07	-54.81	-61.85	-246.77	-568.50	-702.07	-935.10	-918.28	-935.02	-955.98
Dividend Paid ⓘ	0	0	0	0	0	0	0	0	0	0
Others ⓘ	259.73	363.08	602.72	4,822.77	288.58	3,799.50	-235.92	-635.43	-25.34	-162.35
Net Cash Flow ⓘ	6.01	-10.95	39.88	43.92	-69.79	36.52	69.79	-84.77	-7.85	146.45

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'11	Mar'12	Mar'13	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20
Ratios
ROE (%)	33.44	26.91	23.94	25.35	3.08	-2.37	-6.29	-4.19	-5.49	2.55
ROCE (%)	31.34	26.22	24.9	18.22	5.66	2.78	1.25	3.13	2.99	8.07
Asset Turnover Ratio	0.99	0.95	0.99	0.69	0.52	0.5	0.46	0.49	0.57	0.63
PAT to CFO Conversion(x)	0.3	0.11	0.68	0.46	5.06	N/A	N/A	N/A	N/A	9.28
Working Capital Days
Receivable Days	67	75	78	92	102	101	128	137	121	131
Inventory Days	103	105	103	110	130	133	137	138	142	137
Payable Days	121	120	125	135	149	133	130	148	145	134

Mylan Laboratories Ltd Stock News

Mylan Laboratories Ltd FAQs

What is the share price of Mylan Laboratories?

Company share prices are keep on changing according to the market conditions. The closing price of Mylan Laboratories on 01-Jan-1970 05:30 is ₹0.00.

What is the market cap of Mylan Laboratories?

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 01-Jan-1970 05:30 the market cap of Mylan Laboratories stood at ₹3,273.

What is the P/E ratio of Mylan Laboratories?

The latest P/E ratio of Mylan Laboratories as of 01-Jan-1970 05:30 is 18.02.

What is the P/B ratio of Mylan Laboratories?

The latest P/B ratio of Mylan Laboratories as of 01-Jan-1970 05:30 is 3.69.

What is the 52-week high and low of Mylan Laboratories?

The 52-week high of Mylan Laboratories is ₹211.0 and the 52-week low is ₹208.8.

What is the TTM revenue of Mylan Laboratories?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Mylan Laboratories is ₹12,239 ( Cr.) .

About Mylan Laboratories Ltd

Matrix Laboratories (MLL), incorporated in the year 1985, is a subsidiary of US based company Mylan Inc. It is engaged in manufacturing of Active Pharmaceutical Ingredients (APIs) and Solid Oral Dosage Forms.

MLL has manufacturing facilities located in four locations in Hyderabad and Visakhapatnam, here it manufactures wide range of APIs. The company also has solid oral dosage forms facility located in Nashik. All its manufacturing plants are approved by US FDA, EDQM -EU, TGA (Australia) and has also received ISO-9000, ISO 14000 certifications. One of the core business activities of MLL is research and development of new APIs. It also offers contract research and development services for earlier stages of development and contract manufacturing for projects that have advanced further into development and are being considered for commercial manufacturing.

Mylan Inc had acquired 71.5% stake in Matrix Laboratories in 2007 for USD 736 million. Since then, the US firm has successfully integrated the two organisations, along with the generics business of Merck KGaA, to build a global, high quality pharmaceutical platform with $5.5 billion revenues in 2010.

Products

Matrix Laboratories is one of the worldâ€™s largest manufacturers and suppliers of active pharmaceutical ingredients (APIs) for a wide range of therapeutic categories, including antibacterials, central nervous system agents, antihistamine/anti-asthmatics, cardiovasculars, antivirals, antidiabetics, antifungals, proton pump inhibitors and pain management drugs.

Milestones

August 2009 - Matrix becomes a privately held Mylan subsidiary

June 2009 - Mylan announces successful Matrix delisting offer

January 2007 - Mylan Laboratories acquires a 71.5% controlling interest in Matrix Laboratories Limited

January 2007 - Matrix receives â€œFastest Wealth Creator' award in Motilal Oswal Wealth Creation Study for 2006

May 2006 - Matrix receives â€œBest Managementâ€ award from the government of Andhra Pradesh

December 2005 - Matrix receives 'Fastest Wealth Creator' award in Motilal Oswal Wealth Creation Study for 2005

December 2005 - Matrix announces decision to acquire controlling stake in Concord Biotech, an Ahmedabad-based biotechnology company with fermentation and bio-catalytic technology capabilities and U.S. Food and Drug Administration (FDA) approved API manufacturing facilities

November 2005 - Matrix receives the National Award for R&D Efforts in Industry for 2005 in Pharmaceuticals/Chemical Sector from the Department of Scientific & Industrial Research, Government of India, Ministry of Science and Technology

June 2005 - Matrix Laboratories Limited acquires a controlling stake in Docpharma, based in Belgium

April 2005 - Matrix and Aspen Pharmacare Holdings Limited form joint ventures in India and South Africa

February 2005 - Matrix announces strategic alliance with MCHEM Pharma Group of China

January 2005 - Matrix receives 'Fastest Wealth Creator' award in Motilal Oswal Wealth Creation Study for 2004

January 2005 - Matrix purchases finished dosage facility located near Nashik, about 150 km from Mumbai

April 2004 - Matrix signs definitive agreements with India Newbridge Investments Limited and Maxwell (Mauritius) Pte. Limited

March 2004 - Matrixâ€™s Board of Directors approves the companyâ€™s merger with Vera Laboratories Limited, Fine Drugs and Chemicals Limited, Medikon Laboratories Limited and Calibre Engineering Private Limited

March 2004 - Matrix receives U.S. FDA approval for its manufacturing facility at Jeedimetla, near Hyderabad

November 2003 - Matrix sets up two 50:50 joint venture companies, one in India and the other in Ireland

October 2003 - Matrix signs an agreement with the William J. Clinton Foundation to supply ARVs for the treatment of HIV/AIDS patients in sub-Saharan Africa, South Africa and the Caribbean countries

May 2003 - Matrix merges with Vorin Laboratories Limited and Medicorp Technologies India Limited

April 2003 - Matrix successfully files process patent applications for four products at the Indian Patent Office

Awards

In the year 2006 the company received â€œBest Management Awardâ€ from the Government of Andhra Pradesh

It received National Award for R&D Efforts in Industry in Pharmaceuticals /Chemical Sector from the Department of Scientific & Industrial Research, Government of India, Ministry of Science and Technology in 2005.