Roll No: DM23310

Name: Ayush Khandelwal

Section 3
Group 9
Industry: Pharmaceuticals
Company: Alkem Laboratories Limited

1) Shareholder Pattern (31st-March-2020)

Category of Shareholders
Promoter & Promoter Group
Public
Non Promoter Non Public
Shares Underlying DRs
Shares Held by Employee Trusts
TOTAL

2) Major Shareholders

S. No.
1
2
3
4
5
6
7

3) Mutual Fund Holdings

 Fund/Value
Mutual Funds/
SBI Equity Hybrid Fund
DSP Midcap Fund
Aditya Birla Sun Life Trustee Pvt Ltd A/C Aditya
Birla Sun Life Equity Hybrid '95 Fund

4) Promoters' Holdings

S. No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24

5) Reportable Business Segments

S. No.
1
2
3
TOTAL
6) Trend in Sales Revenue

Fiscal Year
Sales Revenue: FY15-16 (Million ₹)
Sales Revenue: FY16-17 (Million ₹)
Sales Revenue: FY17-18 (Million ₹)
Sales Revenue: FY18-19 (Million ₹)
Sales Revenue: FY19-20 (Million ₹)

Tr end in Sales Reven

90000
80000
70000
60000
50000
Revenue

40000
30000
20000
10000
0
Sales Revenue: FY15-16 (Million ₹) Sales Revenue: FY16-17 (Million ₹) Sales Revenue: FY17-18 (Million
Fiscal Year

Domestic Business US Business Other International

7) Trend in Total Assets

Fiscal Year
FY15-16
FY16-17
FY17-18
FY18-19
FY19-20

Trend in Total As sets

120000
100000
76656.3 82081.9
80000
Total Assets

65680.5
60000 55346.6

40000
20000
 Trend in Total As sets
120000
100000
76656.3 82081.9
80000

Total Assets
65680.5
60000 55346.6

40000
20000
0
FY15-16 FY16-17 FY17-18 FY18-19
Fiscal Year

8) Trend in Net Profits (PAT)

Fiscal Year
FY15-16
FY16-17
FY17-18
FY18-19
FY19-20

Trend in N et Pr ofi t (PA T)

12000

10000 8920
8000 7416 7605
6309
Net Profit

6000

4000

2000

0
FY15-16 FY16-17 FY17-18 FY18-19
Fiscal Year

9) Compared to Industry Growth Rates

Fiscal Year
FY15-16
FY16-17
FY17-18
FY18-19
FY19-20

Comparison with Industry Growth Rate

Company Growth Rate (YoY) Industry Growth Rate
18.00% 15.94%
16.00% 14.40% 14.93%
 Comparison with Industry Growth Rate
Company Growth Rate (YoY) Industry Growth Rate
18.00% 15.94%
16.00% 14.40% 14.93%
14.00%
12.00% 13.50%

Growth rate
9.10% 9.38% 9.40%
10.00%
8.00% 6.30%
6.00%
4.00%
2.00%
0.00%
FY1 5 -1 6 F Y1 6 -1 7 FY1 7 -1 8 FY1 8 -1 9
fiscal year

10) Group Structure

S. No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21

11) Investments and Changes for 3 Years

Particulars
NON-CURRENT INVESTMENTS
In Equity Shares Unquoted
Investments in Venture Capital Funds Unquoted
Non Convertible Debentures: Unquoted/Quoted
Bonds: Quoted/Unquoted
Total NCI
CURRENT INVESTMENTS
Investment in Funds
Equity Shares: Quoted
Investments in MF: Quoted
Preference Shares: Unquoted
Non-Convertible Debentures: Quoted
Bonds: Quoted
Total CI
TOTAL INVESTMENTS (NCI + CI)

12) Changes in Financing

Particulars
Debt
Equity
Debt to Equity Ratio

Debt to Equity Rati o Over the Years

0.3

0.25
0.25
0.2
D/E Ratio

0.15
0.17
0.1
0.12

0.05

0
FY1 7 -1 8 (Mi l l i o n ₹ ) FY1 8 -1 9 (Mi l l i o n ₹ ) FY1 9 -2 0 (Mi

Fiscal Year

13) Comparison of Share Price Return with Index

Return (Weekly), Volatility Calculations beside the
table

Monday Opening Date

 1-Apr-19
8-Apr-19
15-Apr-19
22-Apr-19
6-May-19
13-May-19
20-May-19
27-May-19
3-Jun-19
10-Jun-19
17-Jun-19
24-Jun-19
1-Jul-19
8-Jul-19
15-Jul-19
22-Jul-19
29-Jul-19
5-Aug-19
19-Aug-19
26-Aug-19
9-Sep-19
16-Sep-19
23-Sep-19
30-Sep-19
7-Oct-19
14-Oct-19
4-Nov-19
11-Nov-19
18-Nov-19
25-Nov-19
2-Dec-19
9-Dec-19
16-Dec-19
23-Dec-19
30-Dec-19
6-Jan-20
13-Jan-20
20-Jan-20
27-Jan-20
3-Feb-20
10-Feb-20
17-Feb-20
24-Feb-20
2-Mar-20
9-Mar-20
16-Mar-20
23-Mar-20
 Alkem vs Nifty 50
30.00%

20.00%

10.00%
Return %
0.00%
1 3 5 7 9 11 13 15 1 7 1 9 2 1 23 25 2 7 2 9 3 1 33 35 37 3 9 41 4 3 45 47
-10.00%

-20.00%

-30.00%

Return % (Alkem Laboratories) Return % (Nifty 50)

14) Major Announcements

S. No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17

12.00%
10.00%
8.00%
6.00%
% Change

4.00%
2.00%
0.00%
12/30/1899 12/30/1903 12/30/1907 12/30/1911 12/30/1915 12/30/1919 12/30/1923 12/30/1927 12/30
-2.00%
 10.00%
8.00%
6.00%

% Change
4.00%
2.00%
0.00%
12/30/1899 12/30/1903 12/30/1907 12/30/1911 12/30/1915 12/30/1919 12/30/1923 12/30/1927 12/30
-2.00%
-4.00%
-6.00%
 No. of Shareholders Total No. of Shares Held
27 78774497
74490 40790503
0 0
0 0
0 0
74517 119565000

Shar eholding Patt ern

Promoter & Promoter Group Public

34.12%

65.88%

Name of Shareholder Category

Sarandhar Singh Promoter & Promoter Group
Basudeo Narain Singh Promoter & Promoter Group
Mritunjay Kumar Singh Promoter & Promoter Group
Dhanajay Kumar Singh Promoter & Promoter Group
Jayanti Sinha Promoter & Promoter Group
Mutual Funds/ Public
Individual share capital > ₹2Lacs Public
 Sep-19
No. of Shareholders Total No. of Shares Held
22 10676078
1 2820000
1 2206528

1 2028054

Name of Shareholder Total No. of Shares Held

Sarandhar Singh 25205800
Basudeo Narain Singh 8662100
Mritunjay Kumar Singh 7625000
Dhananjay Kumar Singh 7466260
Jayanti Sinha 7138220
Nawal Kishore Singh 4130560
Madhurima Singh 2974250
Seema Singh 2937740
Lalan Kumar Singh 2711538
Archana Singh 2394050
Samprada Singh 1577190
Divya Singh 1209000
Meghna Singh 1208650
Aniruddha Singh 1195779
Shrey Shree Anant Singh 1195650
Raj Kumar Singh 538038
Samprada Singh Huf 150800
Sandeep Singh 112357
Srinivas Singh 81100
Sarandhar Singh 79800
Sarvesh Singh 79800
Balmiki Prasad Singh 71595
Satish Kumar Singh 21417
Inderjit Kaur Arora 7800

Reportable Segment Contribution: FY19-20 (%)

Domestic Business 67.20%
US Business 26.40%
Other International Market Business 6.40%
TOTAL 100%
 Domestic Business US Business
37086 9907
42866 12035
45781 13667
49642 18979
56062 21999

Trend in Sales R evenue

lion ₹) Sales Revenue: FY16-17 (Million ₹) Sales Revenue: FY17-18 (Million ₹) Sales Revenue: FY18-19 (Million ₹) Sales Revenue: FY19-20 (Million ₹)
Fiscal Year

Domestic Business US Business Other International Market Business Total

Total Assets (Million ₹) YoY Change %

55346.6 0.00%
65680.5 18.67%
76656.3 16.71%
82081.9 7.08%
99433.3 21.14%

Tr end in Total As sets

99433.3

76656.3 82081.9
65680.5
 Tr end in Total As sets
99433.3

76656.3 82081.9
65680.5

FY16-17 FY17-18 FY18-19 FY19-20

Fiscal Year

Net Profit (Million ₹) YoY Change %

7416 0.00%
8920 20.28%
6309 -29.27%
7605 20.54%
11271 48.21%

Tr end in Net Pr ofi t (PA T)

11271

8920
7605
6309

FY16-17 FY17-18 FY18-19 FY19-20

Fiscal Year

Company Growth Rate (YoY) Industry Growth Rate

14.40% 13.50%
15.94% 9.10%
9.38% 6.30%
14.93% 9.40%
13.42% 10.80%

parison with Industry Growth Rate

Company Growth Rate (YoY) Industry Growth Rate

15.94%
14.93%
parison with Industry Growth Rate
Company Growth Rate (YoY) Industry Growth Rate

15.94%
14.93%
13.42%
10.80%
9.10% 9.38% 9.40%

6.30%

F Y1 6 -1 7 FY1 7 -1 8 FY1 8 -1 9 F Y1 9 -2 0
fiscal year

Name of the Company Holding/Subsidiary/Associate/JV

Enzene Biosciences Limited Subsidiary
Cachet Pharmceuticals Private Limited Subsidiary
Indchemie Health Specialities Pvt Ltd Subsidiary
Alkem Foundation Subsidiary
Alkem Laboratories (Pty) Limited Subsidiary
Alkem Laboratories Corporation Subsidiary
Ascend GmbH Subsidiary
Pharmacor Pty Limited Subsidiary
S & B Holdings B V Subsidiary
The PharmaNetwork LLC Subsidiary
Ascend Laboratories LLC Subsidiary
Ascend Laboratories Sdn Bhd Subsidiary
Ascend Laboratories SpA Subsidiary
Pharma Network SpA Subsidiary
Pharmacor Limited Subsidiary
The PharmaNetwork LLP Subsidiary
Alkem Laboratories Korea, Inc Subsidiary
S & B Pharma Inc Subsidiary
Ascend Laboratories (UK) Ltd Subsidiary
Ascend Laboratories Limited Subsidiary
Ascend Laboratories SAS Subsidiary

As at 31 March 2020 (Million ₹) As at 31 March 2019 (Million ₹)

NON-CURRENT INVESTMENTS
 3.4 3.4
344 384.2
185 195
382.6 374.8
915 957.4
CURRENT INVESTMENTS
1460 2003.4
83.7 87
137.1 180.3
8.1 8.1
10 0
0 0
1698.9 2278.8
2613.9 3236.2

FY17-18 (Million ₹) FY18-19 (Million ₹)

8308.5 6950.1
49853.2 55719.5
0.17 0.12

to Equity Rati o Over the Years

0.25

0.12

n ₹) FY1 8 -1 9 (Mi l l i o n ₹ ) FY1 9 -2 0 (Mi l l i o n ₹ )

Fiscal Year

Monday Closing Date Opening Price on Monday

 8-Apr-19 1762
15-Apr-19 1755
22-Apr-19 1760
6-May-19 1722
13-May-19 1712.5
20-May-19 1702.55
27-May-19 1700
3-Jun-19 1710
10-Jun-19 1776.4
17-Jun-19 1817.7
24-Jun-19 1819.6
1-Jul-19 1760.75
8-Jul-19 1684
15-Jul-19 1746.8
22-Jul-19 1799.05
29-Jul-19 1786.45
5-Aug-19 1815.15
19-Aug-19 1685
26-Aug-19 1780
9-Sep-19 1772
16-Sep-19 1829
23-Sep-19 1851
30-Sep-19 1961.9
7-Oct-19 1912.8
14-Oct-19 1920.5
4-Nov-19 1954.9
11-Nov-19 2014.1
18-Nov-19 2025.9
25-Nov-19 2071.05
2-Dec-19 2075.85
9-Dec-19 2022.1
16-Dec-19 2098
23-Dec-19 2076.55
30-Dec-19 2025.15
6-Jan-20 2020
13-Jan-20 2100
20-Jan-20 2282.95
27-Jan-20 2387.55
3-Feb-20 2350
10-Feb-20 2380
17-Feb-20 2558.3
24-Feb-20 2650
2-Mar-20 2628
9-Mar-20 2645
16-Mar-20 2626.6
23-Mar-20 2428.9
30-Mar-20 1881.3
m vs Nifty 50
30.00%
25.00%
20.00%
15.00%

Return %
10.00%
7 1 9 21 2 3 25 2 7 2 9 31 3 3 35 37 3 9 4 1 4 3 45 47 5.00%
0.00%
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
-5.00%
-10.00%
-15.00%

boratories) Return % (Nifty 50) Return % (Alkem

Date Subject
Change in Director(s)
5/30/2019 Change in Auditors
Updates
5/31/2019 Financial Result Updates
7/27/2019 Demise
8/12/2019 Financial Result Updates
9/20/2019 Acquisition
Financial Result Updates
11/11/2019
Appointment
12/31/2019 Acquisition
Financial Result Updates
2/7/2020 Change in Director(s)
Change in Director(s)
3/9/2020 Cessation
3/16/2020 News Verification
3/17/2020 News Verification
3/30/2020 Press Release

Price Reac

30/1907 12/30/1911 12/30/1915 12/30/1919 12/30/1923 12/30/1927 12/30/1931 12/30/1935 12/30/1939 12/30/1943 12/30/1947 12/30/1951 12/30/1955 12/30
30/1907 12/30/1911 12/30/1915 12/30/1919 12/30/1923 12/30/1927 12/30/1931 12/30/1935 12/30/1939 12/30/1943 12/30/1947 12/30/1951 12/30/1955 12/30

Dat
% of Total Shares Held
65.88% Free Float = 119565000 - 78774497
= 40790503
34.12% This is approximately 34% of the total
0 value.
0
0
100%

Total No. of Shares Held % of total shares held

25205800 21.08%
8662100 7.24%
7625000 6.38%
7466260 6.24%
7138220 5.97%
10217665 8.55%
18259047 15.27%
 Dec-19
% of Total Shares Held No. of Shareholders Total No. of Shares Held
8.93% 23 10805821
2.36% 1 2771135
1.85% 1 2389807

1.70% 1 2020869

% of total shares held

21.08%
7.24%
6.38%
6.24%
5.97%
3.45%
2.49%
2.46%
2.27%
2%
1.32%
1.01%
1.01%
1%
1%
0.45%
0.13%
0.09%
0.07%
0.07%
0.07%
0.06%
0.02%
0.01%
 Other International Market Business Total YoY Change %
3487 50480 0.00%
3624 58525 15.94%
4565 64013 9.38%
4950 73571 14.93%
5382 83443 13.42%

nue: FY18-19 (Million ₹) Sales Revenue: FY19-20 (Million ₹)

s Total
 % of total shares held
99.91%
58.80%
51%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

As at 31 March 2018 (Million ₹)

 3.5
410.8
195
375.2
984.5

2245.9
47.4
176.6
8.1
0
980.2
3458.2
4442.7

FY19-20 (Million ₹) FY17-18 (Million ₹)

15467.4 FY18-19 (Million ₹)
63089.7 FY19-20 (Million ₹)
0.25

Closing on Next Monday Change in Price Return % (Alkem Laboratories)

1743.65 -18.3499999999999 -1.04%
1754.25 -0.75 -0.04%
1725.85 -34.1500000000001 -1.94%
1710.85 -11.1500000000001 -0.65%
1712.05 -0.450000000000046 -0.03%
1720.9 18.3500000000001 1.08%
1725.4 25.4000000000001 1.49%
1772.7 62.7000000000001 3.67%
1796.8 20.3999999999999 1.15%
1810.7 -7 -0.39%
1715.75 -103.85 -5.71%
1676.25 -84.5 -4.80%
1772 88 5.23%
1769.7 22.9000000000001 1.31%
1797.9 -1.14999999999986 -0.06%
1789.65 3.20000000000005 0.18%
1674.8 -140.35 -7.73%
1753.8 68.8 4.08%
1789.6 9.59999999999991 0.54%
1800 28 1.58%
1859.8 30.8 1.68%
1928.85 77.8499999999999 4.21%
1905.1 -56.8000000000002 -2.90%
1938.55 25.75 1.35%
1941.95 21.45 1.12%
2015.95 61.05 3.12%
1972 -42.0999999999999 -2.09%
2099.75 73.8499999999999 3.65%
2056.05 -15 -0.72%
2033.25 -42.5999999999999 -2.05%
2087.4 65.3000000000002 3.23%
2084.75 -13.25 -0.63%
2003.3 -73.2500000000002 -3.53%
1992.8 -32.3500000000001 -1.60%
2089.55 69.5500000000002 3.44%
2339.5 239.5 11.40%
2359.35 76.4000000000001 3.35%
2357.1 -30.4500000000003 -1.28%
2376.6 26.5999999999999 1.13%
2585.2 205.2 8.62%
2582.25 23.9499999999998 0.94%
2599.7 -50.3000000000002 -1.90%
2600.2 -27.8000000000002 -1.06%
2566.9 -78.0999999999999 -2.95%
2426.9 -199.7 -7.60%
2269.65 -159.25 -6.56%
2336.25 454.95 24.18%
 Alkem vs Torrent vs Laurus

2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33

Return % (Alkem Laboratories) Return % (Torrent Pharmaceuticals) Return % (Laurus Laboratori

Alkem
Alkem Laboratories
Laboratories Limited
Limited has
has informed
informed the
the Exchange
Exchange regarding
regarding Change
Change in
in Director(s)
Auditors ofof the
the company. The
company.The Board
Board of Directora
of Directors
the shareholders of the Company at the ensuing Annual General Meeting.
Alkem Laboratories Limited has informed the Exchange regarding 'Disclosure under Regulation 30(4) of Securities Exchange Bo
Alkem Laboratories Limited has submitted to the Exchange, the financial results for the period ended March 31, 2019.
Alkem Laboratories Limited has informed the Exchange regarding Demise of Mr Samprada Singh, Chairman of the company on
Alkem Laboratories Limited has submitted to the Exchange, the financial results for the period ended June 30, 2019.
Alkem Laboratories Limited has informed the Exchange about Acquisition of an undertaking (ￂﾓUndertaking
Alkem Laboratories Limited has submitted to the Exchange, the financial results for the period ended September 30, 2019.
Alkem Laboratories Limited has informed the Exchange regarding Appointment of Mr Sarvesh Singh as Executive Director of th
Alkem Laboratories Limited has informed the Exchange about Acquisition of of certain assets as stated in Annexure I of this inti
Alkem Laboratories Limited has submitted to the Exchange, the financial results for the period ended December 31, 2019.
Alkem Laboratories Limited has informed the Exchange regarding Change in Director(s) of the company.
Alkem Laboratories Limited has informed the Exchange regarding Change in Director(s) of the company.
Alkem Laboratories Limited has informed the Exchange regarding Cessation of Mr Akhouri Maheshwar Prasad as Independent
The Exchange has sought clarification from Alkem Laboratories Limited with respect to recent news item captioned CCI asks A
The Exchange has sought clarification from Alkem Laboratories Limited with respect to recent news item captioned CCI asks A
Alkem Laboratories Limited has informed the Exchange regarding a press release dated March 30, 2020, titled "Alkem contribu

Price Reaction

35 12/30/1939 12/30/1943 12/30/1947 12/30/1951 12/30/1955 12/30/1959 12/30/1963 12/30/1967 12/30/1971 12/30/1975 12/30/1979 12/30/1983 12/30/1987
35 12/30/1939 12/30/1943 12/30/1947 12/30/1951 12/30/1955 12/30/1959 12/30/1963 12/30/1967 12/30/1971 12/30/1975 12/30/1979 12/30/1983 12/30/1987

Date
497
e total
 Mar-20
% of Total Shares Held No. of Shareholders Total No. of Shares Held
9.04% 25 10217665
2.32% 1 2439198
2.00% 1 2218255

1.69% 1 1524739
 For the
Graph

0.17
0.12
0.25

Return % (Nifty 50) Return % (Torrent Pharmaceuticals) Return % (Laurus Laboratories)

 -0.52% -7.95% -1.02%
-0.12% -0.74% 4.55%
0.51% -3.02% -2.73%
0.18% -2.08% -3.08%
-3.94% -4.70% -5.23%
5.06% 0.14% -3.45%
2.34% -8.98% -2.27%
1.97% 1.47% -4.43%
0.10% -2.13% -4.03%
-2.20% -1.71% -3.37%
-1.22% 1.73% -5.99%
1.19% 3.22% 4.61%
-2.38% -1.93% 0.65%
-1.55% 2.47% 0.00%
-2.31% -3.26% -4.06%
-1.79% 9.32% -3.53%
-3.93% 0.09% -5.90%
0.28% -0.36% 6.33%
-0.33% 1.83% -1.39%
-1.84% 2.30% -2.10%
-1.09% -2.47% -1.07%
5.51% -0.52% 4.54%
-0.59% -3.06% 6.35%
-1.55% -1.59% -9.49%
2.07% 4.62% -9.99%
2.23% 2.35% 6.78%
-0.13% 0.09% -2.90%
0.51% -3.08% -6.04%
1.33% -1.24% -2.55%
1.05% 10.81% 1.32%
-1.64% -0.97% -4.45%
0.96% 0.84% 2.68%
1.08% -0.40% 6.67%
-0.55% 0.71% -5.33%
-2.30% 1.20% 6.48%
1.31% -0.29% 6.94%
-0.59% 6.33% 0.52%
-2.51% 1.04% 3.38%
-4.39% -6.36% 3.57%
3.47% 5.36% 3.76%
-0.47% 5.90% -1.02%
-2.75% 4.44% -1.68%
-7.32% -4.99% -5.84%
-8.22% -2.88% -3.52%
-16.52% -9.57% -10.81%
-20.63% -7.88% -12.93%
4.22% 14.83% -9.94%
 s Laurus

24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47

rmaceuticals) Return % (Laurus Laboratories)

(s)
ofof the
the company. The
company.The Board
Board of Directors
of Directors at its
at its meeting
meeting held
held today
today i.e.i.e. 30th
30th May,
May, 2019,
2019, has,
has, inter
inter aliaalia:1. based on recommendation
recommended re-appointment ofofM/
No

Regulation 30(4) of Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 This is to inform
he period ended March 31, 2019.
prada Singh, Chairman of the company on July 27, 2019.
he period ended June 30, 2019.
rtaking (ￂﾓUndertakingￂﾔ), as a whole and on a going and running concern basis from Cachet Pharmaceuticals Private Limited, a subsidiar
he period ended September 30, 2019.
r Sarvesh Singh as Executive Director of the company w.e.f. November 11, 2019.
n assets as stated in Annexure I of this intimation letter related to the active pharmaceutical ingredient, Dronabinol ( Assets ).
he period ended December 31, 2019.
(s) of the company.
(s) of the company.
houri Maheshwar Prasad as Independent Director of the company w.e.f. March 15, 2020.
to recent news item captioned CCI asks Alkem Labs, Macleods Pharma, BCDA not to indulge in unfair biz practices. The response from the
to recent news item captioned CCI asks Alkem Labs, Macleods Pharma, BCDA not to indulge in unfair biz practices. The response from the
ed March 30, 2020, titled "Alkem contributes INR 7 Crores towards Prime Minister s Citizen Assistance and Relief in Emergency Situations

12/30/1975 12/30/1979 12/30/1983 12/30/1987 12/30/1991 12/30/1995 12/30/1999 12/30/2003 12/30/2007 12/30/2011 12/30/2015 12/30/2019
12/30/1975 12/30/1979 12/30/1983 12/30/1987 12/30/1991 12/30/1995 12/30/1999 12/30/2003 12/30/2007 12/30/2011 12/30/2015 12/30/2019
% of Total Shares Held
8.55%
2.04%
1.86%

1.28%
Name of Stock Std Deviation
Alkem Laboratories 5.07%
Torrent Pharmaceuticals 4.82%
Laurus Laboratories 5.12%

It is clear from the

table that Laurus Labs
is the most volatile
stock closely followed
by Alkem Labs.
 Details
er
aliaalia:1. based on recommendation
recommended re-appointment ofofM/s
Nomination
BSR & Co.and Remuneration
LLP, Committeeasand
Chartered Accountants subjectAuditors
Statutory to approval of shareholders
of the Company for at the ensuing
a term A
of five (5

ments) Regulations, 2015 This is to inform you that the Board of Directors of the Company at its meeting held today, i.e. on 30th May, 201

armaceuticals Private Limited, a subsidiary of the Company.

edient, Dronabinol ( Assets ).

fair biz practices. The response from the Company is awaited.

fair biz practices. The response from the Company is attached.
tance and Relief in Emergency Situations (PM CARES) Fund".

/30/2011 12/30/2015 12/30/2019

/30/2011 12/30/2015 12/30/2019
shareholders
Company for at the ensuing
a term Annual
of five (5) yearsGeneral Meeting,
from the approved
conclusion of 45ththe re-appointment
Annual of Mr.till
General Meeting Samprada Singh as
the conclusion of Chairman Emeritus
50th Annual and
General Non
Meeti

today, i.e. on 30th May, 2019 approved commencement and closure of operations of certain manufacturing units of the Company. '.
 Price Reaction
as
of Chairman Emeritus
50th Annual and
General Non-Executive
Meeting, Director of
for the approval of th
2.22%
g units of the Company. '.
3.95%
-1.12%
3.98%
1.79%
-1.65%

-0.30%

5.37%

0.62%
10.21%
-4.23%
-0.58%
Roll No: DM23310
Name: Ayush Khandelwal
Section 3
Group 9
Industry: Pharmaceuticals
Company: Alkem Laboratories Limited

1) Profitability Ratios

a) Return on Assets (ROA), % = Net Income / Total Assets

Company Name FY 15-16 FY 16-17 FY 17-18

Alkem Laboratories 13.39% 13.58% 8.23%
Torrent Pharmaceuticals 19.13% 9.62% 4.76%
Laurus Laboratories 6.01% 7.17% 5.55%

b) Return on Equity (ROE), % = Net Income / Shareholders' Equity

Company Name FY 15-16 FY 16-17 FY 17-18

Alkem Laboratories 20.08% 19.96% 12.97%
Torrent Pharmaceuticals 49.60% 21.46% 14.67%
Laurus Laboratories 16.92% 14.30% 11.30%

c) Return on Capital Employed (ROCE), % = EBIT / Capital Employed

Company Name FY 15-16 FY 16-17 FY 17-18

Alkem Laboratories 25.00% 20.69% 18.57%
Torrent Pharmaceuticals 47.13% 13.40% 7.50%
Laurus Laboratories 9.98% 12.41% 9.80%

d) Gross Profit Margin, % = Gross Profit / Revenue

Company Name FY 15-16 FY 16-17 FY 17-18

Alkem Laboratories 21.65% 19.53% 17.50%
Torrent Pharmaceuticals 44.24% 27.52% 27.54%
Laurus Laboratories 20.48% 23.07% 21.48%

e) Net Profit Margin, % = Net Income / Revenue

Company Name FY 15-16 FY 16-17 FY 17-18

Alkem Laboratories 14.90% 15.90% 9.94%
Torrent Pharmaceuticals 25.92% 16.05% 11.33%
Laurus Laboratories 7.54% 10.04% 8.15%

f) Operating Margin, % = Operating Earnings / Revenue

Company Name FY 15-16 FY 16-17 FY 17-18

Alkem Laboratories 19.80% 17.75% 15.28%
Torrent Pharmaceuticals 40.69% 22.24% 20.71%
Laurus Laboratories 15.62% 17.51% 15.38%

g) Asset Turnover Ratio, % = Revenue / Total Assets

Company Name FY 15-16 FY 16-17 FY 17-18

Alkem Laboratories 91.20% 86.59% 83.77%
Torrent Pharmaceuticals 73.82% 59.94% 42.00%
Laurus Laboratories 79.94% 71.78% 68.15%

2) Trend in Total Revenue (Million ₹)

Company Name / Revenue FY 15-16 FY 16-17 FY 17-18

Alkem Laboratories 50480 58525 64013
Torrent Pharmaceuticals 69125 60389.9 62811
Laurus Laboratories 17795 19365.8 20846

Trend in Sales
90000
80000
70000
60000
Total Revenue

50000
40000
30000
20000
10000
0
FY 15-16 FY 16-17 FY 17-18 FY 18-19 FY 19-2
Fiscal Year

Alkem Laboratories Torrent Pharmaceuticals Laurus Laboratories

3) Trend in Net Profit / Net Earnings (Million ₹)

Company Name / Profit FY 15-16 FY 16-17 FY 17-18

Alkem Laboratories 7416 8920 6309
Torrent Pharmaceuticals 17332.4 9335.5 6781.1
Laurus Laboratories 1337.4 2352 2374.2

Trend in Net Profit / Net Income

20000
18000

Net Profit / Net Income

16000
14000
12000
10000
8000
6000
4000
2000
0
FY 15-16 FY 16-17 FY 17-18 FY 18-19 FY 19-2
Fiscal Year

Alkem Laboratories Torrent Pharmaceuticals Laurus Laboratories

4) Trend in Total Assets (Million ₹)

Company Name / Total Assets FY 15-16 FY 16-17 FY 17-18

Alkem Laboratories 55346.6 65680.5 76656.3
Torrent Pharmaceuticals 90578.8 97020.9 142432.2
Laurus Laboratories 22235.2 26534.2 30167.2

Trend in Total Assets

160000
140000
120000
100000
Total Assets

80000
60000
40000
20000
0
FY 15-16 FY 16-17 FY 17-18 FY 18-19 FY 19-2
Fiscal Year

Alkem Laboratories Torrent Pharmaceuticals Laurus Laboratories

5) Cash Flow Analysis (Million ₹)

Particulars (Million ₹) FY 17-18 FY 18-19 FY 19-20
Net Profit Before Tax 9259.8 9546.6 12597.9
Net Cash from Operating Activities (CFO) 2761.8 7796.5 5850.8
Net Cash (used in)/from Investing Activities (CFI) -3673.7 -3163.9 -7413.5
Net Cash (used in)/from Financing Activities (CFF) 845.6 -3789.4 791.5
Net Increase/Decrease in Cash and Cash Equivalents -66.3 843.2 -771.2
Opening Cash and Cash Equivalents 1666.3 1667.1 2490.5
Closing Cash and Cash Equivalents 1667.1 2490.5 1759.4

1.CFO basically tells us how much cash is generated using the products or services. From
the above data, clearly Alkem Laboratories has had an increasing and then decreasing
cash flow from operations.

2. CFI shows the cash used in buying assets and instruments of finance. The CFI is
negative which shows that the company is puuting in a lot of money in investing since the
CFO has still remained positive.

3. CFF shows the money that comes in through investors, creditors and owners. The
negative CFA in FY 18-19 tells us that the company has used cash heavily to pay off debts,
make dividend payments and repurchase stocks.

4. A negative net cash flow means that the spending is more than the income in that
period. One big reason for this could be overinvesting in the case of Alkem Laboratories.

Particulars FY 17-18 FY 18-19 FY 19-20

Operating Cash Flow Margin = CFO/Revenue (%) 4.31% 10.60% 7.01%

Operating Cash Flow Margin

Operating Cash Flow Margin = CFO/Revenue (%)

0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00%

FY 19-20 FY 18-19 FY 17-18

 FY 18-19 FY 19-20
9.26% 11.33%
3.08% 7.31%
2.81% 6.80%

ers' Equity

FY 18-19 FY 19-20
13.98% 18.29%
9.23% 21.24%
6.01% 14.42%

FY 18-19 FY 19-20
16.84% 19.77%
15.88% 19.13%
10.85% 18.62%

FY 18-19 FY 19-20
16.34% 18.90%
26.58% 28.86%
16.19% 20.14%

FY 18-19 FY 19-20
10.51% 13.77%
5.68% 12.90%
 4.09% 9.01%

FY 18-19 FY 19-20
13.71% 15.87%
18.53% 20.62%
9.03% 13.53%

FY 18-19 FY 19-20
89.63% 83.90%
54.33% 56.66%
68.80% 75.50%

FY 18-19 FY 19-20
73571 83443
77298.5 80606.1
23071.8 28376.5

18-19 FY 19-20

us Laboratories

FY 18-19 FY 19-20
7605 11271
 4362.8 10247.2
1197.5 2936.1

18-19 FY 19-20

us Laboratories

FY 18-19 FY 19-20
82081.9 99433.3
141209.2 140097.4
33311.9 37503.2

18-19 FY 19-20

us Laboratories
 Cash Flow Analysis
10000
8000
6000
4000
2000
0
FY 17-18 FY 18-19 FY 19-20
-2000
-4000
es. From -6000
easing -8000
-10000

is Net Cash from Operating Activities (CFO)

since the Net Cash (used in)/from Investing Activities (CFI)
Net Cash (used in)/from Financing Activities (CFF)

The
off debts, Net Cash Flow

that
ratories. FY 19-20

FY 18-19

FY 17-18

-1000 -800 -600 -400 -200 0 200 400 600 800 1000

0% 12.00%
Roll No: DM23310
Name: Ayush Khandelwal
Section 3
Group 9
Industry: Pharmaceuticals
Company: Alkem Laboratories Limited

1) Solvency Analysis

Alkem Laboratories

PARTICULARS
Total Debt
Total Equity
EBIT
Interest Expense
Total Liability

Solvency ratios
Debt to Equity Ratio = Total Debt / Total Equity
Interest Coverage Ratio=EBIT/Interest Expense
Liability to Equity Ratio=Total Liability/Total Equity

Interfirm Competition (FY 19-20 only)

Ratio/Company
Debt to Equity
Interest Coverage
Liability to Equity

Solvency Analysis

Liability to Equity

Interest Coverage

Debt to Equity

0.00 5.00 10.00 15.00 20.00 25.00

Laurus Laboratories Torrent Pharmaceuticals Alkem Labora

 Interest Coverage

Debt to Equity

0.00 5.00 10.00 15.00 20.00 25.00

Laurus Laboratories Torrent Pharmaceuticals Alkem Labora

2) Liquidity Analysis

Alkem Laboratories

Particulars
Current asset
Current Liability
Cash
Total current assets+ Loans+Advances
Inventories
Quick asset

Liquidity ratios
Current ratio = (Current asset/current liability)
Quick ratio = (Quick asset/current liability)
Cash ratio = (Cash/ Current liabities + short term provisions + long term provisions)

Interfirm Competition (FY 19-20 only)

Ratio/Company
Current Ratio
Quick Ratio
Cash Ratio

Liquidity Ratio Analysis

Cash Ratio

Quick Ratio

Current Ratio

0.00 0.50 1.00 1.50 2.00

Laurus Laboratories Torrent Pharmaceuticals Alkem Labora

3) Efficiency Analysis

Alkem Laboratories

Particulars
Revenue
Cost of Goods Sold
Inventories
Total Assets

Efficiency ratios
Asset Turnover Ratio = (Revenue / Total Assets)
Inventory Turnover Ratio = (COGS / Inventory)
Days' Sales in Inventory Ratio = (360 / Inventory Turnover)

Interfirm Competition (FY 19-20 only)

Ratio/Company
Asset Turnover Ratio
Inventory Turnover Ratio
Days' Sales in Inventory Ratio

Efficiency Analysis

Days' Sales in Inventory Ratio

Inventory Turnover Ratio

Asset Turnover Ratio

0.00 20.00 40.00 60.00 80.00 100.00 12

Laurus Laboratories Torrent Pharmaceuticals Alkem Lab

4) Three Stage Du Pont Analysis

Alkem Laboratories
 ROE=
Year
Equity
Total Assets
Sales
EAT
Average equity
Average assets

CALCULATION
Margin= EAT/Sales(%)
Asset turnover= Sales/Total Assets
ROA(%) = Margin X Asset turnover
Equity multiplier= Total Assets/Equity
ROE= ROA X Equity multiplier

5) Five Stage Du Pont Analysis

Alkem Laboratories

ROE = EAT/Equity =
What is it called?
What does it show?

Year
Sales
EAT
Average equity
Average assets
EBIT
EBT
Tax burden
Interest burden
Operating income margin
Asset turnover
Equity multiplier
ROE

6) Profitability Analysis

Refer to the FADM Part 2 tab in this excel sheet for the analysis.
 (Million ₹)
FY 19-20 FY 18-19 FY 17-18
15467.4 6,950.10 8,308.50
63,089.70 55,719.50 49,853.20
13,767.90 9,722.20 9666.60
387.1 282.6 323.7
74,898.20 59,681.70 54,328.80

FY 19-20 FY 18-19 FY 17-18 Sparklines

0.25 0.12 0.17
35.57 34.40 29.86
1.19 1.07 1.09

Alkem Laboratories Torrent Pharmaceuticals Laurus Laboratories

0.25 0.91 0.54
35.57 3.63 6.57
1.19 1.9 1.51

cy Analysis

20.00 25.00 30.00 35.00 40.00

Pharmaceuticals Alkem Laboratories

 20.00 25.00 30.00 35.00 40.00

Pharmaceuticals Alkem Laboratories

(Million ₹)
FY 19-20 FY 18-19 FY 17-18
49993.70 36085.80 34997.60
16160.10 13239.80 13812.90
10922.10 6616.00 5767.80
55162.60 42297.60 39374.10
10925.80 9912.80 10241.60
29114.60 21378.90 19050.80

FY 19-20 FY 18-19 FY 17-18 Sparklines

3.09 2.73 2.53
1.80 1.61 1.38
0.67 0.49 0.41

Alkem Laboratories Torrent Pharmaceuticals Laurus Laboratories

3.09 0.91 1.07
1.80 0.52 0.54
0.67 0.71 0.92

Ratio Analysis

2.00 2.50 3.00 3.50

Pharmaceuticals Alkem Laboratories

 (Million ₹)
FY 19-20 FY 18-19 FY 17-18
84485.8 74448.9 65178
21318.3 18111.4 15672.3
10925.80 9912.80 10241.60
99433.3 82081.9 76656.3

FY 19-20 FY 18-19 FY 17-18 Sparklines

0.85 0.91 0.85
1.95 1.83 1.53
184.50 197.04 235.25

Alkem Laboratories Torrent Pharmaceuticals Laurus Laboratories

0.85 0.56 0.75
1.95 3.7 3.13
184.50 97.30 115.02

ency Analysis

80.00 100.00 120.00 140.00 160.00 180.00 200.00

ent Pharmaceuticals Alkem Laboratories

(Million ₹)
 EAT/Equity = EAT/Sales X Sales/Total Assets X DuPont analysis is a framework used to
FY 19-20 FY 18-19 FY 17-18 by the DuPont Corporation.
63,089.70 55,719.50 49,853.20
99,433.30 82,081.90 76656.3 From the table, we can see that the ma
which says that the company has impro
84485.8 74448.9 65178 company has not changed a lot but still
12644.2 7998.4 7158.4 had minor changes in the three years. T
59,405 52,786 19-20.
90,758 79369.1
The ROE has gone up significantly from
margin which shows that the company
14.9660653032817 10.7434763979051 10.982846972905
0.849673097443211 0.907007513227642 0.850262796404209
12.72 9.74 9.34
1.58 1.47 1.54
20.04 14.35 14.36

(Million ₹)
EAT/EBT X EBT/EBIT X EBIT/Sales X Sales/Total Assets X
Tax burden Interest burden Operating income margin Asset turnover
Effect of tax on Effect of interest on Operating margin sales is Efficiency
profit profit giving
FY 19-20 FY 18-19 FY 17-18
84485.8 74448.9 65178
12644.2 7998.4 7158.4
59,405 52,786 INPUT DATA
90,758 79,369
13,767.90 9,722.20 9666.60
13380.8 9439.60 9342.9
0.94 0.85 0.77
0.97 0.97 0.97
16.30 13.06 14.83
OUTPUT DATA
0.85 0.91 0.85
1.58 1.47 1.54
20.04 14.35 14.36
Solvency Analysis is used to examine the company's ability to meet it's long-term debts and
obligations. It is a long term look as compared with liquidity analysis.
The debt to equity ratio measures the amount of debt covered by equity. Alkem has the lowest
value and shows that the company is not excatly debt heavy. On the other hand, Torrent is a more
debt heavy company and has a bigger chance of defaulting.

The interest coverage ratio is used to see if the company will be able to cover it's current interest
payments with the available profits. Again, Alkem has the highest value here shoowing its strong
position financially.
Liability to Equity ratio is used to measure the amount of liability as compared to equity. Here,
Torrent has the highest value, which tells us that the company has almost double the liabilities as
compared to equity.

Overall, Torrent Pharma has the highest possibility of going insolvent and even that possibility is
pretty low.
Liquidity Analysis is used to examine the ability of a company to pay off it's current debt
obligations without raising external capital. As compared to solvency, it looks at the short term
period.
Current ratio measures the ability to pay off current debts using the current assets only. Alkem has
the highest value here, showing that they have enough current assets to pay off the current debt
around 3 times. The other two competitors are also in a good position here.
Quick ratio is used to measure the ability to meet short term obligations with the most liquid
assets, therefore excluding the inventory. Also known as Acid Test. All the companies are in a great
position here with no significant difference.

Cash ratio is used to measure the ability to meet short term obligations with the cash and cash
equivalents. Here, Laurus labs has the best case scenario wherein it can pay off the short-term
debts using its cash and cash equivalents only.
Efficiency Analysis is used to examine how well the company uses its assets and liabilities internally.
In short a measure of asset utilization for income generation.

Asset turnove ratio is used to measure the efficiency of assets to generate income or sales. Alkem
has the best ratio, which says that they have a better asset utilization in their company as
compared to its competitiors. Even, Laurus labs comes a close second with a healthy value.
Inventory turnover ratio is used to measure, how fast the company is selling its inventory. Torrent
has the highest value here, which can mean either that they have a healthy sales on inventory or
that they have insufficient inventory. Alkem has the lowest value, so it seems that there might be a
surplus in the inventory.
Days' sales in inventory ratio is a way to measure the number of days for inventory to turn into
sales. Torrent has the best value here showing that the inventory turnover might just be a positive
thing for them. Alkem has the worst, confirming that they might have inventory surplus problems.
Pont analysis is a framework used to analyze the fundamental performance originally popularized
the DuPont Corporation.

om the table, we can see that the margin of the company has increased form FY 18-19 to FY 19-20
ich says that the company has improved its profit from revenue. The asset turnover of the
mpany has not changed a lot but still had some minor changes. Similarly, the equity multiplier has
d minor changes in the three years. The point to note is that it had increased from FY 18-19 to FY
-20.

e ROE has gone up significantly from FY 18-19 to FY 19-20. It has happened with an increase in
rgin which shows that the company is on the right track and is a positive sign for the future.

Total Assets/Equity DuPont analysis is a framework used to analyze the fundamental performance originally p
Equity multiplier the DuPont Corporation.
Leverage
From the table, we can see that the margin of the company has increased form FY 18-19 t
which says that the company has improved its profit from revenue. The asset turnover of t
has not changed a lot but still had some minor changes. Similarly, the equity multiplier has
changes in the three years. The point to note is that it had increased from FY 18-19 to FY 1

INPUT DATA The tax burden of the company has decreased with the years and the amount profits after
increased as a result.
The interest burden of the company has remained the same and the fact that it is near the
shows that the company is not very debt ridden.
The ROE has gone up significantly from FY 18-19 to FY 19-20. It has happened with an incr
which shows that the company is on the right track and is a positive sign for the future.
OUTPUT DATA
ts and

he lowest
ent is a more

ent interest
g its strong

ity. Here,
liabilities as

ossibility is
ebt
hort term

ly. Alkem has

urrent debt

st liquid
are in a great

and cash
hort-term
ties internally.

ales. Alkem
y as
alue.
ory. Torrent
ventory or
e might be a

turn into
be a positive
s problems.
ntal performance originally popularized by

as increased form FY 18-19 to FY 19-20

enue. The asset turnover of the company
arly, the equity multiplier has had minor
reased from FY 18-19 to FY 19-20.
and the amount profits after tax has

nd the fact that it is near the value of 1

t has happened with an increase in margin

ositive sign for the future.