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You are here : IndiaNotes >> Research & Analysis >> Companies >> Caplin Point Laboratories Ltd. >> Research

Caplin Point Q2FY18: An investment idea for medium to long-term

Firstcall India Equity | 07 Dec, 2017  | Follow Author | Add to my Favourites 
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Caplin Point Laboratories Limited is a niche pharmaceutical company with a unique business model catering predominantly to emerging markets of Latin America and Africa.

Consolidated revenue for the quarter rose by 37.18% to Rs. 1313.11 million from Rs. 957.22 million, when compared with the prior year period.

During Q2 FY18, consolidated EBIDTA is Rs. 529.40 million as against Rs. 296.03 million in Q2 FY17, an increased by 78.83%.

During Q2 F Y18, consolidated PBT increased by 79.83% to Rs. 484.73 million from Rs. 269.55 million in Q2 FY17.

During Q2 FY18, consolidated net profit jumps to Rs. 355.72 million from Rs. 224.08 million in Q2 FY17, an increase of 58.75%.

EPS of the company stood at Rs. 4.71 a share during the quarter, as against Rs. 2.97 per share over previous year period.

During the quarter, EBIDTA and PAT margins are stood at 40.32% and 27.09% respectively.

Net Sales and Operating Profit of the company are expected to grow at a CAGR of 39% and 57% over 2017 to 2019E, respectively.

Outlook and Valuation


At the current market price of Rs. 665.00, the stock P/E ratio is at 35.12 x F Y18E and 28.42 X F Y19E respectively. Earning per share (EPS) of the company for the earnings for F Y18E and FY19E is seen at Rs. 18.94 and Rs. 23.40 respectively.

Net Sales and PAT of the company are expected to grow at a CAGR of 39% and 57% over 2017 to 2019E respectively.

On the basis of EV/EBITDA, the stock trades at 24.49 x for F Y18E and 19.78 x for F Y19E.

Price to Book Value of the stock is expected to be at 16.06 x and 12.50 x for F Y18E and F Y19E respectively.

Hence, we say that, we are Overweight in this particular scrip for Medium to Long term investment.

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Firstcall India Equity of Firstcall India Equity Advisors Pvt. Limited (FIEA), is a leading financial services provider in India and a SEBI Registered Category-I Merchant Banker. FIEA is a culmination of a credible Equity Research Capabilities, Long Standing Relationship with leading FIIs, DFIs, MFs, Overseas Pension Funds etc. The company’s research caters to the needs of the largest news wire and media houses of the world namely Reuters, Thomson, Capital IQ,, Emerging Markets Euro money Publications-UK. The Company is among the major players in the Debt and Equity markets.

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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.

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