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BSE: 524372 | NSE: ORCHPHARMA | Pharmaceuticals & Drugs | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Orchid Pharma Ltd is a below average quality company.
The key valuation ratios of Orchid Pharma Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Orchid Pharma Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | -5.8% | 2.4% | -1.2% | -4.3% | -4.6% | -4.1% | -7% | -5% | -3.4% | 4.6% | - |
| Value Creation Index ⓘ | -1.4 | -0.8 | -1.1 | NA | NA | NA | -1.5 | -1.4 | -1.2 | -0.7 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 3,813 | 1,157 | 879 | 755 | 644 | 584 | 481 | 451 | 557 | 666 | 812 |
| Sales YoY Gr. | - | -69.7% | -24% | -14.1% | -14.7% | -9.4% | -17.6% | -6.3% | 23.6% | 19.6% | - |
| Adj EPS ⓘ | -166.4 | -22.5 | -27.9 | -41.1 | -38.4 | -12.1 | -33.8 | -24.2 | -14.3 | 5.8 | 25.1 |
| YoY Gr. | - | NA | NA | NA | NA | NA | NA | NA | NA | NA | - |
| BVPS (₹) ⓘ | 138.6 | 34.4 | 19.2 | -29.7 | -75.8 | -84.9 | 195.5 | 166.9 | 166.1 | 179.3 | 233.5 |
| Adj Net Profit ⓘ | -1,172 | -191 | -248 | -366 | -342 | -108 | -138 | -98.9 | -58.4 | 23.6 | 128 |
| Cash Flow from Ops. ⓘ | 350 | -246 | 211 | 318 | 5.6 | 15.2 | 80.4 | 24.4 | 89.6 | 13.4 | - |
| Debt/CF from Ops. ⓘ | 18.3 | -8.7 | 15.2 | 9.8 | 573.5 | 212.7 | 7 | 18.6 | 3 | 24.8 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -17.6% | 0.7% | 11.4% | 19.6% | ||||
| Adj EPS ⓘ | NA | NA | NA | NA | ||||
| BVPSⓘ | 2.9% | NA | -2.8% | 8% | ||||
| Share Price | 34.6% | 184.6% | -10.3% | 173.8% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -120.1 | -61.9 | -81.3 | 789.5 | 72.9 | 15 | -644.4 | -13.4 | -8.6 | 3.4 | 12.2 |
| Op. Profit Mgn % ⓘ | 7.4 | 18.4 | 19.8 | 12.2 | 6.5 | 10.6 | -6.7 | 13.1 | 10.5 | 12.7 | 15 |
| Net Profit Mgn % ⓘ | -30.7 | -16.5 | -28.2 | -48.4 | -53 | -18.4 | -28.7 | -21.9 | -10.5 | 3.5 | 15.7 |
| Debt to Equity ⓘ | 6.6 | 7.3 | 18.8 | -11.8 | -4.8 | -4.3 | 0.7 | 0.7 | 0.4 | 0.5 | - |
| Working Cap Days ⓘ | 330 | 355 | 691 | 737 | 735 | 766 | 616 | 367 | 310 | 265 | 107 |
| Cash Conv. Cycle ⓘ | 17 | 45 | 85 | 64 | 25 | 17 | 82 | 151 | 142 | 138 | 51 |
Return on Equity has increased versus last 3 years average to 12.20%
Sales growth is growing at healthy rate in last 3 years 11.44%
Debt to equity has declined versus last 3 years average to 0.45
Sales growth is good in last 4 quarters at 28.61%
Net Profit has been subdued in last 3 years 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 25.1 | 23.2 |
| TTM Sales (₹ Cr.) | 812 | 812 |
| BVPS (₹.) ⓘ | 233.5 | 224.4 |
| Reserves (₹ Cr.) ⓘ | 1,133 | 1,087 |
| P/BV ⓘ | 4.57 | 4.75 |
| PE ⓘ | 42.43 | 45.93 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 371.20 / 1358.80 |
| All Time Low / High (₹) | 3.04 / 2680.00 |
| Market Cap (₹ Cr.) | 5,410 |
| Equity (₹ Cr.) | 50.7 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 47.2 |
| Pledged * | 32.68 | 32.68 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Sep'13 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,907 | 1,736 | 879 | 755 | 644 | 584 | 481 | 451 | 557 | 666 |
| Operating Expenses ⓘ | 1,777 | 1,416 | 705 | 663 | 622 | 590 | 531 | 392 | 498 | 582 |
| Manufacturing Costs | 345 | 284 | 147 | 139 | 114 | 103 | 98 | 68 | 86 | 97 |
| Material Costs | 958 | 781 | 419 | 367 | 331 | 278 | 200 | 229 | 314 | 385 |
| Employee Cost | 237 | 186 | 83 | 75 | 82 | 79 | 72 | 64 | 60 | 65 |
| Other Costs ⓘ | 236 | 165 | 57 | 81 | 95 | 129 | 161 | 30 | 38 | 35 |
| Operating Profit ⓘ | 130 | 320 | 174 | 92 | 22 | -6 | -50 | 59 | 59 | 84 |
| Operating Profit Margin (%) | 6.8% | 18.4% | 19.8% | 12.2% | 3.4% | -1.1% | -10.4% | 13.0% | 10.5% | 12.7% |
| Other Income ⓘ | 40 | 42 | 25 | 19 | 20 | 17 | 24 | 6 | 9 | 19 |
| Interest ⓘ | 520 | 537 | 294 | 331 | 310 | 7 | 6 | 52 | 33 | 33 |
| Depreciation ⓘ | 244 | 321 | 143 | 139 | 133 | 130 | 118 | 109 | 87 | 55 |
| Exceptional Items ⓘ | 51 | 113 | -53 | -173 | 0 | 25 | 0 | 0 | 0 | 39 |
| Profit Before Tax ⓘ | -544 | -383 | -292 | -532 | -401 | -101 | -150 | -96 | -53 | 55 |
| Tax ⓘ | -13 | -192 | -17 | -48 | -46 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -530 | -191 | -274 | -484 | -355 | -101 | -150 | -96 | -53 | 55 |
| PAT Margin (%) | -27.8% | -11.0% | -31.2% | -64.0% | -55.2% | -17.3% | -31.1% | -21.3% | -9.5% | 8.3% |
| Adjusted EPS (₹) | -75.3 | -22.4 | -30.8 | -54.4 | -39.9 | -11.4 | -36.7 | -23.5 | -12.9 | 13.5 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Sep'13 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 488 | 439 | 171 | -264 | -674 | -755 | 798 | 681 | 678 | 732 |
| Share Capital ⓘ | 70 | 85 | 89 | 89 | 89 | 89 | 41 | 41 | 41 | 41 |
| Reserves ⓘ | 418 | 354 | 82 | -353 | -763 | -844 | 757 | 641 | 637 | 691 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 2,427 | 3,141 | 3,011 | 2,756 | 2,588 | 2,120 | 504 | 430 | 231 | 290 |
| Long Term Debt | 902 | 2,494 | 2,378 | 2,157 | 1,894 | 1,425 | 504 | 427 | 208 | 149 |
| Short Term Debt | 1,525 | 647 | 634 | 600 | 694 | 695 | 0 | 3 | 23 | 141 |
| Trade Payables | 562 | 296 | 353 | 404 | 327 | 270 | 60 | 69 | 121 | 137 |
| Others Liabilities ⓘ | 1,247 | 280 | 427 | 565 | 970 | 1,358 | 88 | 44 | 64 | 65 |
| Total Liabilities ⓘ | 4,723 | 4,156 | 3,963 | 3,461 | 3,211 | 2,993 | 1,450 | 1,224 | 1,094 | 1,223 |
Fixed Assets | ||||||||||
| Gross Block | 3,660 | 2,890 | 2,893 | 2,893 | 1,425 | 1,425 | 1,247 | 1,176 | 1,176 | 1,220 |
| Accumulated Depreciation | 1,177 | 1,193 | 1,353 | 1,492 | 133 | 263 | 389 | 506 | 593 | 647 |
| Net Fixed Assetsⓘ | 2,483 | 1,697 | 1,540 | 1,402 | 1,291 | 1,161 | 858 | 670 | 584 | 573 |
| CWIP ⓘ | 360 | 282 | 280 | 288 | 272 | 278 | 26 | 7 | 10 | 46 |
| Investmentsⓘ | 124 | 125 | 125 | 125 | 125 | 0 | 0 | 15 | 49 | 50 |
| Inventories | 500 | 242 | 210 | 197 | 185 | 167 | 141 | 151 | 173 | 229 |
| Trade Receivables | 184 | 290 | 375 | 246 | 145 | 141 | 66 | 132 | 160 | 212 |
| Cash Equivalents | 22 | 390 | 313 | 256 | 301 | 324 | 172 | 19 | 4 | 22 |
| Others Assetsⓘ | 1,050 | 1,131 | 1,118 | 946 | 892 | 921 | 187 | 230 | 115 | 91 |
| Total Assets ⓘ | 4,723 | 4,156 | 3,963 | 3,461 | 3,211 | 2,993 | 1,450 | 1,224 | 1,094 | 1,223 |
| PARTICULARS | Sep'13 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 175 | -370 | 211 | 318 | 6 | 15 | 80 | 24 | 90 | 13 |
| PBT ⓘ | -544 | -238 | -292 | -445 | -401 | -101 | -150 | -117 | -5 | 54 |
| Adjustment ⓘ | 709 | 999 | 496 | 576 | 450 | 235 | 175 | 164 | 38 | 54 |
| Changes in Working Capital ⓘ | 9 | -669 | 7 | 188 | -36 | -115 | 45 | -27 | 58 | -95 |
| Tax Paid ⓘ | 0 | -47 | 0 | 0 | -7 | -4 | 10 | 5 | -2 | 0 |
| Cash Flow From Investing Activity ⓘ | -998 | 1,334 | -1 | -9 | -28 | 45 | 167 | 67 | 113 | -27 |
| Capex | -1,075 | -82 | -1 | -9 | -6 | -7 | -4 | 0 | 145 | -26 |
| Net Investments | 77 | 0 | 0 | 0 | -34 | 37 | 147 | 67 | -33 | -1 |
| Others ⓘ | 0 | 1,416 | 0 | 0 | 12 | 15 | 24 | 1 | 0 | 1 |
| Cash Flow From Financing Activityⓘ | 676 | -597 | -287 | -366 | 33 | 0 | -250 | -165 | -217 | 31 |
| Net Proceeds from Shares ⓘ | 0 | 74 | 18 | 0 | 0 | 0 | 40 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 194 | -484 | -27 | -128 | -1 | 0 | 0 | -125 | -205 | -110 |
| Interest Paid ⓘ | -351 | -150 | -265 | -219 | -4 | 0 | 0 | -40 | -32 | -32 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 833 | -36 | -13 | -19 | 39 | 0 | -290 | 0 | 20 | 173 |
| Net Cash Flow ⓘ | -147 | 367 | -76 | -57 | 11 | 60 | -3 | -73 | -14 | 18 |
| PARTICULARS | Sep'13 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -64.88 | -41.19 | -89.85 | N/A | N/A | N/A | -699.6 | -12.96 | -7.76 | 7.84 |
| ROCE (%) | -0.68 | 4.2 | 0.08 | N/A | N/A | N/A | -7.48 | -3.5 | -1.86 | 8.77 |
| Asset Turnover Ratio | 0.44 | 0.39 | 0.22 | 0.21 | 0.19 | 0.19 | 0.22 | 0.34 | 0.48 | 0.57 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.24 | Working Capital Days |
| Receivable Days | 26 | 50 | 137 | 148 | 110 | 89 | 79 | 80 | 96 | 102 |
| Inventory Days | 107 | 78 | 93 | 97 | 108 | 110 | 117 | 118 | 106 | 110 |
| Payable Days | 184 | 200 | 282 | 376 | 403 | 392 | 301 | 103 | 110 | 122 |
Orchid Chemicals & Pharmaceuticals (Orchid) is pharmaceutical company engaged in development and manufacture of active pharmaceutical ingredients (APIs) and finished dosage forms. It is also engaged in research of new drugs. The company was Incorporated in the year 1992 as a 100% export-oriented unit (EOU).
Orchid has employee strength of over 3700 people, out of which over 600 are scientists, technologists and other professionals.
The drug major has two manufacturing unit for APIs located at Alathur and Aurangabad and three facilities for fosage forms at Irungattukottai and Alathur. Besides this it two research and development centres located at Sholinganallur and Irungattukottai, Chennai.
It has formed an alliance with North China Pharmaceutical Corporation (NCPC), which is the largest pharmaceutical group in
The company has formed distribution and marketing alliance with various global pharmaceutical corporations including Apotex, Actavis, Hospira and Dava, among others.
Orchid owns two subsidiaries, whose core focus are on drug discovery and development namely Orchid Research Laboratories in Chennai and Bexel Pharmaceuticals in the
During March 2010, Orchid Chemicals & Pharmaceuticals had completed the transaction for sale and transfer of Orchid's generic injectable finished dosage forms Pharmaceuticals business to Hospira Healthcare India, a subsidiary of Hospira, Inc.
In January 2011, Orchid Chemicals & Pharmaceuticals had signed a memorandum of understanding with Great Lakes Institute of Management for setting up a centre of excellence in technopreneurship at Great Lakes campus near Chennai. The MoU was signed in the presence of APJ Abdul Kalam, former President of India, during the inauguration of Great Lakes' B-school festival, L’Attitude 13° 05’.
In April 2011, Orchid Chemicals had attained an out-of-court settlement with world's largest drug maker Pfizer Inc to sell a low-cost version of the American firm's patented anti-depressant drug, Effexor XR, (extended release) in the US market this fiscal.
In 2012
- Orchid Pharma exit its Chinese JV with NCPC
- Orchid Pharma enters into agreement to transfer its Penicillin & Penem API business & its API facilities in Aurangabad to Hospira for approximately US$ 200 million
In 2013
- Orchid enters into strategic partnership with Allecra Therapeutics for development of novel antibiotics
Products
Active Pharmaceutical Ingredients- Orchid develops a wide range of APIs in category of oral cephalosporins, betalactams, special nutraceuticals, etc.
Formulations- Under this the company is engaged in developing formulation in various segment such anti-infectives, anti-oxidants, oral anti-diabetics, etc.
Awards
Orchid was awarded as the Top Indian Public Limited Company in Patent at the 5th National Intellectual Property Award 2013, organized by CII in partnership with the Department of Industrial Policy & Promotion and Indian Intellectual Property Office, Government of India.
Orchid received EXIM Achievement Award 2012 for its meritorious export performance by The Tamil Chamber of Commerce, Chennai.
Orchid was conferred with the Export Excellence Award 2010-11 by MEPZ – Special Economic Zone, Government of India.
Orchid received EXIM Achievement Award 2011 for its meritorious export performance under the category Air Exports by The Tamil Chamber of Commerce, Chennai.
Orchid was conferred the Gold Patent Award for the year 2010-11 in recognition of its commendable contribution to R&D in Drug Discovery Sector by the Pharmaceutical Export Promotion Council. The award was presented by Shri. N. Kiran Kumar Reddy, Hon’ble Chief Minister of Andhra Pradesh.
Orchid was awarded IGCW – 2011 Green Innovation Award for the outstanding research in the field of Green Chemistry & Engineering in 2011.
Orchid was conferred the Shrishti Good Green Governance (G3) Award in 2011. The award was presented by Mr. Salman Khurshid, Minister of Water Resources & Minority Affairs, Government of India.
In 2010, for ""Outstanding Achievement in Environment Management in the Chemical sector"", Orchid was conferred with the Silver Award by Greentech Foundation.
Orchid was awarded the ""Siemens Ecovatives-IBN Live Award 2010"" in recognition of our outstanding initiatives in Energy Management (Low Energy and Natural Resource Conservation).
In 2010, Orchid’s Alathur API facility received the Bureau of Energy Efficiency (BEE) Certificate of Merit on Energy Efficiency by the Ministry of Power, Government of India.
Orchid’s endeavour in the area of energy conservation was recognised with the “Excellent Energy Efficient Unit†in the 9th Energy Efficiency Summit 2010 organised by the CII (Confederation of Indian Industries). This award was recently presented by Mr.Ajay Mathur, Director General of Bureau of Energy Efficiency, Ministry of Power, and Government of India.
Orchid’s Aurangabad facility received the Dr.R J Rathi Award for Environment Pollution & Control in industries in Maharashtra for the year 2010 (constituted by Maharashtra Chamber of Commerce Industries & Agriculture, Pune)
Orchid's Alathur facility was awarded Certificate of Appreciation by the National Safety Council of India (Safety Awards - 2011) in recognition of its appreciable achievement in Occupational Safety & Health during the assessment period of three years from 2008-10.
In 2011, Orchid received the ""Green Tech Gold Safety Award"" by Greentech Foundation. The award was presented by Dr RK Srivastav, Director General of Health Services, Ministry of Health & Family Welfare, Gov of India and Mr Kamaleshwar Sharan, President, Greentech Foundation.
Orchid’s Alathur facility received the Greentech Safety Award 2010 (Silver award) in pharmaceutical sector for outstanding achievement in Safety Management given by Greentech Foundation.
Orchid was awarded the ""Certificate of Merit Award"" for 2010 by the CII for Excellence in Environment, Health and Safety.
Orchid Research Laboratories (the discovery subsidiary of Orchid) won the Partner of Choice Award for Contract Research - Collaborative Drug Discovery by Frost & Sullivan in April 2007.
The company also bagged Gold Award for Excellence and Business Prestige was awarded at the Quality Summit 2003, New York.
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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