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BSE: 532872 | NSE: SPARC | Business Support | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Sun Pharma Advanced Research Company Ltd is a below average quality company.
The key valuation ratios of Sun Pharma Advanced Research Company Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Sun Pharma Advanced Research Company 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 % ⓘ | 18% | -31.8% | -71.3% | -95.7% | -134.4% | -59.5% | -177.6% | -264% | -233.7% | -69.7% | - |
| Value Creation Index ⓘ | 0.3 | -3.3 | -6.3 | -8.1 | -11.0 | -5.3 | NA | NA | NA | -6.2 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 167 | 156 | 161 | 181 | 78.3 | 183 | 76.8 | 253 | 137 | 239 | 76 |
| Sales YoY Gr. | - | -6.8% | 3.6% | 12.2% | -56.8% | 133.7% | -58% | 229.3% | -45.7% | 74% | - |
| Adj EPS ⓘ | 1.1 | -1.7 | -3 | -4.9 | -9.3 | -5.5 | -11.8 | -5.9 | -7.6 | -6.8 | -12 |
| YoY Gr. | - | -252.3% | NA | NA | NA | NA | NA | NA | NA | NA | - |
| BVPS (₹) ⓘ | 5.8 | 4.2 | 1.2 | 6.4 | 3.7 | 11.3 | -0.7 | -6.4 | -7.5 | 15.8 | 3.9 |
| Adj Net Profit ⓘ | 26.1 | -39.6 | -69.8 | -120 | -234 | -144 | -309 | -153 | -206 | -221 | -388 |
| Cash Flow from Ops. ⓘ | 36.9 | -41.2 | -44.2 | -128 | -183 | -172 | -211 | -152 | -208 | -69.1 | - |
| Debt/CF from Ops. ⓘ | 0.1 | -0.1 | -1.3 | -0 | -0 | -0 | -0.3 | -1.5 | -0.4 | 0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 4.1% | 25% | 46% | 74% | ||||
| Adj EPS ⓘ | -222.6% | NA | NA | NA | ||||
| BVPSⓘ | 11.7% | 33.6% | NA | NA | ||||
| Share Price | 2.3% | 6.6% | -2.1% | -3.1% | ||||
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 % ⓘ | 21 | -33.2 | -106.1 | -126.7 | -136.6 | -60 | -222.9 | 164.2 | 301 | -81.3 | -121.7 |
| Op. Profit Mgn % ⓘ | 20.1 | -22.5 | -39 | -67.7 | -310 | -79.1 | -397.7 | -53.4 | -135.5 | -88.7 | -534.5 |
| Net Profit Mgn % ⓘ | 15.6 | -25.4 | -43.3 | -66.5 | -299.2 | -78.9 | -402.7 | -60.7 | -150.3 | -92.6 | -513.7 |
| Debt to Equity ⓘ | 0 | 0 | 1.9 | 0 | 0 | 0 | -3.6 | -1.4 | -0.4 | 0 | 0 |
| Working Cap Days ⓘ | 161 | 200 | 163 | 210 | 641 | 254 | 554 | 175 | 351 | 339 | 805 |
| Cash Conv. Cycle ⓘ | -63 | -80 | -130 | -170 | -113 | -272 | -254 | -119 | -60 | -85 | 248 |
Sales growth is growing at healthy rate in last 3 years 45.95%
Return on Equity is Poor
Sales growth is not so good in last 4 quarters at -50.85%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -12 | -11.9 |
| TTM Sales (₹ Cr.) | 75.6 | 75.6 |
| BVPS (₹.) ⓘ | 3.9 | 3.9 |
| Reserves (₹ Cr.) ⓘ | 92 | 93 |
| P/BV ⓘ | 58.97 | 58.55 |
| PE ⓘ | 0.00 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 196.45 / 474.00 |
| All Time Low / High (₹) | 38.44 / 593.93 |
| Market Cap (₹ Cr.) | 7,363 |
| Equity (₹ Cr.) | 32.5 |
| Face Value (₹) | 1 |
| Industry PE ⓘ | 47.3 |
| Pledged * | 2.18 | 2.18 | 1.65 | 1.02 | 2.78 | 2.78 | 2.78 | 2.78 | 2.78 | 2.78 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 156 | 161 | 181 | 78 | 183 | 77 | 253 | 137 | 239 | 76 |
| Operating Expenses ⓘ | 191 | 224 | 304 | 321 | 334 | 387 | 388 | 324 | 453 | 479 |
| Manufacturing Costs | 23 | 31 | 34 | 37 | 23 | 36 | 214 | 139 | 186 | 146 |
| Material Costs | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Employee Cost | 46 | 57 | 84 | 101 | 81 | 93 | 92 | 98 | 107 | 119 |
| Other Costs ⓘ | 122 | 137 | 185 | 183 | 230 | 258 | 82 | 87 | 160 | 214 |
| Operating Profit ⓘ | -35 | -63 | -123 | -243 | -151 | -310 | -135 | -187 | -214 | -404 |
| Operating Profit Margin (%) | -22.5% | -39.2% | -67.8% | -310.0% | -82.7% | -403.0% | -53.4% | -136.0% | -89.6% | -534.0% |
| Other Income ⓘ | 3 | 3 | 14 | 5 | 14 | 10 | 5 | 7 | 11 | 29 |
| Interest ⓘ | 0 | 2 | 2 | 0 | 0 | 3 | 11 | 13 | 8 | 2 |
| Depreciation ⓘ | 7 | 8 | 8 | 8 | 8 | 9 | 11 | 10 | 12 | 12 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 49 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | -40 | -70 | -119 | -197 | -145 | -312 | -151 | -203 | -223 | -388 |
| Tax ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -40 | -70 | -119 | -197 | -145 | -312 | -151 | -203 | -223 | -388 |
| PAT Margin (%) | -25.4% | -43.4% | -65.8% | -251.0% | -79.5% | -406.0% | -59.7% | -148.0% | -93.2% | -513.0% |
| Adjusted EPS (₹) | -1.7 | -3.0 | -4.8 | -7.9 | -5.6 | -11.9 | -5.8 | -7.5 | -6.9 | -12.0 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 100 | 30 | 158 | 93 | 296 | -19 | -168 | -203 | 513 | 125 |
| Share Capital ⓘ | 24 | 24 | 25 | 25 | 26 | 26 | 26 | 27 | 32 | 32 |
| Reserves ⓘ | 76 | 6 | 133 | 68 | 270 | -45 | -194 | -230 | 480 | 92 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 4 | 55 | 3 | 2 | 1 | 66 | 193 | 0 | 0 | 47 |
| Long Term Debt | 3 | 3 | 2 | 2 | 1 | 6 | 113 | 0 | 0 | 0 |
| Short Term Debt | 0 | 52 | 0 | 0 | 0 | 60 | 80 | 0 | 0 | 47 |
| Trade Payables | 27 | 58 | 94 | 102 | 83 | 159 | 91 | 72 | 148 | 150 |
| Others Liabilities ⓘ | 16 | 23 | 21 | 116 | 18 | 66 | 114 | 411 | 169 | 165 |
| Total Liabilities ⓘ | 147 | 167 | 277 | 313 | 398 | 273 | 230 | 280 | 830 | 486 |
Fixed Assets | ||||||||||
| Gross Block | 96 | 107 | 77 | 67 | 80 | 136 | 123 | 133 | 146 | 152 |
| Accumulated Depreciation | 30 | 37 | 8 | 15 | 23 | 32 | 32 | 41 | 40 | 49 |
| Net Fixed Assetsⓘ | 67 | 70 | 69 | 52 | 58 | 104 | 91 | 92 | 106 | 103 |
| CWIP ⓘ | 0 | 1 | 1 | 3 | 24 | 32 | 5 | 26 | 27 | 44 |
| Investmentsⓘ | 0 | 0 | 10 | 108 | 211 | 8 | 6 | 12 | 291 | 2 |
| Inventories | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Receivables | 20 | 9 | 39 | 18 | 10 | 16 | 18 | 28 | 33 | 16 |
Cash Equivalents  ⓘ
| 17 | 13 | 70 | 1 | 1 | 0 | 9 | 1 | 112 | 155 |
| Others Assetsⓘ | 43 | 74 | 87 | 131 | 95 | 112 | 101 | 121 | 262 | 167 |
| Total Assets ⓘ | 147 | 167 | 277 | 313 | 398 | 273 | 230 | 280 | 830 | 486 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -41 | -44 | -128 | -183 | -172 | -211 | -152 | -208 | -69 | -429 |
| PBT ⓘ | -40 | -70 | -119 | -246 | -145 | -312 | -151 | -203 | -223 | -388 |
| Adjustment ⓘ | 5 | 9 | -1 | 4 | -22 | 9 | 49 | 17 | 7 | -11 |
| Changes in Working Capital ⓘ | -4 | 30 | 13 | 20 | -0 | 102 | -48 | -26 | 141 | -26 |
| Tax Paid ⓘ | -3 | -14 | -21 | -10 | -5 | -10 | -2 | 5 | 5 | -4 |
| Cash Flow From Investing Activity ⓘ | 53 | -13 | -7 | -105 | -102 | 155 | 2 | -29 | -548 | 391 |
| Capex | -8 | -12 | -8 | -18 | -13 | -54 | -1 | -25 | -15 | -26 |
| Net Investments | 7 | 0 | -9 | -88 | -93 | 209 | 3 | -5 | -535 | 395 |
| Others ⓘ | 54 | -1 | 11 | 1 | 3 | 0 | 0 | 0 | 2 | 22 |
| Cash Flow From Financing Activityⓘ | -1 | 51 | 194 | 224 | 274 | 55 | 159 | 229 | 617 | 43 |
| Net Proceeds from Shares ⓘ | 0 | 2 | 250 | 133 | 367 | 0 | 0 | 167 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -1 | -1 | -1 | 0 | -1 | 0 | 106 | 0 | 0 | 0 |
| Interest Paid ⓘ | 0 | -2 | -3 | 0 | 0 | -2 | -8 | -14 | -8 | -2 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 51 | -52 | 91 | -92 | 57 | 61 | 77 | 625 | 44 |
| Net Cash Flow ⓘ | 11 | -7 | 60 | -63 | 0 | 0 | 9 | -8 | -1 | 4 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -33.17 | -109.16 | -127.4 | -156.84 | -74.72 | N/A | N/A | N/A | -143.72 | -121.73 |
| ROCE (%) | -31.74 | -71.37 | -94.66 | -113.05 | -59.95 | N/A | N/A | N/A | -69.44 | -112.88 |
| Asset Turnover Ratio | 0.93 | 1.03 | 0.82 | 0.27 | 0.51 | 0.23 | 1.01 | 0.54 | 0.43 | 0.11 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Working Capital Days |
| Receivable Days | 56 | 33 | 48 | 132 | 28 | 62 | 24 | 60 | 46 | 117 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Sun Pharma Advanced Research Company (SPARC) is a clinical stage bio-pharmaceutical company focused on continuously improving standards of care for patients globally, through innovation in therapeutics and delivery. SPARC was formed in 2007 through a demerger from SUN PHARMA, a global leader in speciality generics. It strive to build an enduring innovation engine built on strong scientific execution, high value analytics and aggressive portfolio management. A robust mix of internal ideation and strategic partnering with academic innovators and bio-pharma entrepreneurs fuel engine with potentially high impact ideas.
The company partner with thought-leading clinicians across the world for ideas and access. Innovation through integration of partner knowledge and efficient internal execution shapes future. SPARC is a vibrant innovation community spread over three locations globally. It endeavour to develop a meritocracy which takes pride in continuous learning and re-invention. SPARC is a responsible public company committed to maintaining highest standards of ethics and transparency.
Business area of the company
The company is engaged in the pharmaceutical research and development. The company’s core focus is innovation and new product development for global markets. SPARC undertakes projects in research and technology for new chemical entities (NCE’s) or new molecules, and novel drug delivery systems (NDDS).
Products
Milestones
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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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