Investor Diary Expert Stock Analysis Excel (V-3)

http://www.investordiary.in/

HOW TO USE THIS SPREADSHEET?

Step 1 - This spreadsheet works only on Screener.in. The first step is to create a free account here - https://www.screener.in/register/

Step 2 - After creating your account, while you are logged in to Screener.in website, visit this page - https://www.screener.in/excel/ -
and upload this excel file.
Step 3 - Visit the home page of Screener.in and choose a company of your choice. Once you do that, you will see details of your
chosen company. Scroll down and come to the first financial statement table called "Quarterly Results" and click on "View
Consolidated". Now, all data you see for this company will be consolidated.

Step 4 - Scroll back to the top of the page, and you will see a button "Export to Excel" on the right side. Click the button and the
company's financial data will be exported in an excel file in the exact format as "Investor Diary Stock Analysis Excel".
Now onwards, any excel you export for any company on Screener.in will be downloaded in this very format.

IMPORTANT INSTRUCTIONS?
1. All financial data of your chosen company will be automatically updated in the sheet you download.
2. You may update the sheet and add your own analysis, formulae etc. and then upload again to Screener.in site using the Step 2 mentioned
above. But DON'T touch the sheet titled "Data Sheet" because this will cause errors in your future downloads.

3. I have added Comments and Instructions wherever necessary so as to explain the concepts. Read those carefully before working on the sheet.

4. This sheet is not a replacement of the work required to read annual reports as part of the analysis process. So please do that along with working
on this sheet. You may sometime find some discrepancy in numbers (though rare), but you will know this only when you read annual reports.
5. I could not find a bug/errors in this spreadsheet, but if you notice some, please email me at - inverstordiary.vishnu@gmail.com - and I will try to
fix the same and update the sheet
6. This excel won't work for banking and financial services companies.

Note: All data is sourced from Screener.in

click here for the explanation
Most investors in the stock market wonder in which stock they should invest because remember we have almost 6000 stocks
So you can use my Winner's list of stocks to generate your Investment Ideas.

Let's make this process simple for you:

Step-1: Click Here To Get Multi-Bagger List Of Stocks

Step-2: Kick out stocks that are out of your circle of competence. Don't worry if you have to kick ou

Step-3: With the remaining stocks, do the complete Stock Analysis by using this excel sheet.

Tip-1: You can Register your Email id with screener.in and can get updates by Email
Tip-2: In the search query, you can customize it as per your requirements, for example I used Market Capitalization > 500 (in

Click Here: List Of 52-Week Low Stocks In India

Click Here: IPO Historic Table

(High Quality Stocks)---List Of Stocks That Passed Our 2-Minute Test In India

3M India Cera Sanitary. Gulf Oil Lubric. Orient Refrac. Tide Water Oil
Abbott India Colgate-Palm. Hawkins Cookers P & G Hygiene TTK Prestige
Accelya Kale CRISIL Honeywell Auto P I Inds. V-Guard Inds.
AIA Engg. Cummins India ICRA Page Industries Vinati Organics
Ajanta Pharma Cyient Indraprastha Gas Persistent Sys VST Inds.
Akzo Nobel DFM Foods Jyothy Lab. Poly Medicure Whirlpool India
Alembic Pharma Dhanuka Agritech Kajaria Ceramics Relaxo Footwear Zensar Tech.
Amara Raja Batt. Divi's Lab. Kansai Nerolac Sanofi India Zydus Wellness
Amrutanjan Healt Dr Lal Pathlabs Kewal Kir.Cloth. Sheela Foam Galaxy Surfactant
Astral Poly eClerx Services L & T Infotech Solar Inds. Asian Paints
Atul Auto Elantas Beck La Opala RG Sonata Software Avenue Super.
Avanti Feeds Endurance Tech. Marico Sun TV Network Bajaj Auto
Berger Paints FDC Mayur Uniquote Supreme Inds. Britannia Inds.
Bombay Burmah Foseco India Mindtree Swaraj Engines Dabur India
Cadila Health. G M Breweries MRF Symphony Eicher Motors
CARE Ratings Gabriel India Navneet Educat. Syngene Intl. Godrej Consumer
Castrol India Gillette India NESCO Tata Elxsi HCL Technologies
Century Ply. GlaxoSmith C H L Oracle Fin.Serv. Thyrocare Tech. Hero Motocorp

Financial Services Companies Are Not Included In This List

 http://www.investordiary.in/

r we have almost 6000 stocks to select from.

y if you have to kick out a lot of stocks in the process.

this excel sheet.

Market Capitalization > 500 (in crores), you can feed in, higher or lower figure.

n India

Hind. Unilever
Hind.Zinc
Infosys
ITC
Maruti Suzuki
Nestle India
pidilite industries
TCS
Tech Mahindra
Titan Company
Wipro
Assoc.Alcohols
Control Print
Cupid
Jenburkt Pharma
Aurabindo Pharma
Balkrishna Ind
CCL Products
 Investor Diary Stock Analysis Excel
http://www.investordiary.in/
Basic Company Details
Parameters Details
Company CAPLIN POINT LABORATORIES LTD
Current Stock Price (Rs) 700
Face Value (Rs) 2
No. of Shares (Crore) 8
Market Capitalization (Rs Crore) 5315

Key Financials - Trend

Parameters Details

Sales Growth (9-Year CAGR) 29.14%

Profit Before Tax Growth (9-Year CAGR) 37.38%

Net Profit Growth (8-Year CAGR) 40.58%
Average Debt/Equity (5-Years, x) 0.01
Average Return on Equity (5-Years) 28.53%
Average P/E (5-Years, x) 17.32
Latest P/E (x) 15.05
 CAPLIN POINT LABORATORIES LTD
http://www.investordiary.in/ 2-MINUTE TEST PASS

1 Does the firm pass minimum quality hurdle? YES

Avoid low market cap (minimum 500 crores) and IPO companies

2 Has the firm ever made an operating profit? YES

3 Does the company generate consistent cash flow from operations? YES

4 Are returns on equity consistently above 15% with reasonable leverage? YES

5 Is earnings growth consistent or erratic? CONSISTENT

6 How clean is the balance sheet? LOW-DEBT

If financial leverage ratio above 4 or debt-to-equity ratio above 1
a Is the firm in a stable business? CONSISTENT

b Has debt been going down or up as a percantage of total assets? GOING UP

c Do you understand the debt? YES

7 Does the firm generate free cash flow? YES

8 How much other is there?(One-time charges, etc) NONE

9 Has the number of shares outstanding increased markedly over the past several years? YES
Assuming no big acquisitions, if shares outstanding are consistently increasing around
by more than 2% per year, think long and hard before investing the firm
 ENTER MANUALLY
PASS click here for the explanation
FAIL

Market Capitalization (Rs Crore) 5315

Jun-13 Jun-14 Jun-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22
23 36 54 60 121 189 227 270 315 387

32 60 50 42 68 66 83 45 269 337

32% 42% 44% 36% 43% 40% 30% 25% 25% 24%

85% 59% 12% 109% 51% 22% 22% 13% 24%

NET PROFITS CAGR 3-YR 19% 5-YR 26% 7-YR 33% 10-YR 41%

FINANCIAL LEVERAGE= 1.37 DEBT TO EQUITY RATIO= 0.0016807 ICR 668.50

0.03 0.02 0.01 0.01 0.00 0.00 0.00 0.03 0.01 0.00

FREE CASH FLOW TO SALES 8.59%

13.28 24.94 34.22 43.52 17.97 8.22 -43.02 205.04 304.77

Jun-13 Jun-14 Jun-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22
NSI 60532750 %change 0.00% 0.00% 0.00% 400.18% 0.04% 0.04% 0.02% 0.00% 0.19%
No. of Equity Shares 1.51 1.51 1.51 1.51 7.56 7.56 7.56 7.56 7.56 7.58
New Bonus Shares 0 0 0 0 0 0 0 0 0 0
Face value 10 10 10 10 2 2 2 2 2 2
 NONE
FEW
A LOT
CONSISTENT
CYCLICAL
ERRATIC

CONSISTENT
CYCLICAL
ERRATIC
 DEBT-FREE
LOW-DEBT
MODERATELY-LOW DEBT
MODERATE DEBT
MODERATELY-HIGH DEBT
HIGH-DEBT

CONSISTENT

YES
NO
 BALANCE SHEET ANALYSIS WITH FLOW-CHART
SHAREHOLDERS EQUITY AND LIABILITIES
http://www.investordiary.in/
STEP-1 STEP-2 STEP-3 STEP-4
Borrowings BS
Borrowings CFA
Financial Leverage
Debt to Equity ratio
Equity Share Capital Reserves BS Int. Coverage ratio OTH Liabilities BS
ESC. CFA Reserves CFA T.Assets/T.Liabilities OTH Liabilities CFA
2 minute test T.Debt/T.Assets
T.Debt/T.Equity
Int. coverage ratio
T.Debt/Cash Flow
T.Debt/F.Cash Flow

IT’S AMOST A
NO DILUTION GOOD INCREASED
DEBTFREE COMPANY

AVANTI FEEDS IS A DEBTFREE COMPANY AND IS NOT SELLING ANY ADDITIONAL SHARES. ITS RESERVES ARE INCREASING
ASSETS IS 51%, WHERE AS ITS NET TANGIBLE ASSETS + CWIP (CAPITAL WORK IN PROGRESS) IS ONLY 19%. ITS ACCOU

STRONG FINANCIAL HEALT

 BALANCE SHEET ANALYSIS WITH FLOW-CHART
ASSETS

STEP-5 STEP-6 STEP-7 STEP-8

Net Block BS
CWIP BS
Net Block CFA Invt BS OTH Assets BS A/R BS
CWIP CFA Invt CFA OTH Assets CFA A/R CFA
F.Asset Turnover Cash&Bank CFA A/R DAYS

IT’S A LOW CAPITAL CASH AS % OF

A/R IS 5
INTENSIVE TOTAL ASSETS IS DECREASED
BUSINESS AROUND 51% DAYS

RESERVES ARE INCREASING CONSISTENTLY. IT'S RUNNING A LOW CAPITAL INTENSIVE BUSINESS, i.e., CASH AS A % OF TOTAL
ESS) IS ONLY 19%. ITS ACCOUNTS RECEIVABLE DAYS AND INTENTORY DAYS IMPROVED SIGNIFICANTLY OVER THE YEARS.

STRONG FINANCIAL HEALTH

 STEP-9

INV BS
INV CFA
INV Turnover
Days in INV

INV DAYS IS 40

e., CASH AS A % OF TOTAL

TLY OVER THE YEARS.
STRONG FINANCIAL HEALTH
AVERAGE FINANCIAL HEALTH
WEAK FINANCIAL HEALTH
 Balance Sheet http://www.investordiary.in/
CAPLIN POINT LABORATORIES LTD GOOD
Rs Cr Jun-13 Jun-14 Jun-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 BAD
Equity Share Capital 15 15 15 15 15 15 15 15 15 15
Reserves 28 47 78 113 210 349 582 858 954 1,252
Borrowings 5 3 2 2 1 1 1 39 18 2
Other Liabilities 87 115 134 137 133 136 145 214 376 467
Total 135 180 229 267 358 500 743 1,126 1,364 1,736
click here for the explanation
Net Block 33 102 113 144 152 169 227 273 305 287
Capital Work in Progress 51 25 31 0 3 15 10 20 14 18
Investments 1 0 0 0 17 47 70 61 11 89
Other Assets 50 52 85 122 186 269 436 772 1,033 1,343
Total 135 180 229 267 358 500 743 1,126 1,364 1,736

Working Capital -38 -63 -49 -15 53 133 291 559 657 876
Receivables 1 0 6 8 33 126 160 229 279 320
Inventory 10 10 14 19 22 28 37 238 179 227
USE COMMON FORM ANALYSIS AND FINANCIAL HEALTH WORKSHEET TO ANALYSE THE BALANCE SHEET
 Common Form Balance Sheet
Rs Cr Jun-13 Jun-14 Jun-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21
Equity Share Capital 11% 8% 7% 6% 4% 3% 2% 1% 1%
Reserves 21% 26% 34% 42% 58% 70% 78% 76% 70%
Borrowings 3% 2% 1% 1% 0% 0% 0% 3% 1%
Other Liabilities 65% 64% 58% 51% 37% 27% 20% 19% 28%
Total Liabilities 100% 100% 100% 100% 100% 100% 100% 100% 100%
Net Block 24% 57% 49% 54% 42% 34% 31% 24% 22%
Capital Work in Progress 38% 14% 13% 0% 1% 3% 1% 2% 1%
Investments 1% 0% 0% 0% 5% 9% 9% 5% 1%
Other Assets 37% 29% 37% 46% 52% 54% 59% 69% 76%
Total Assets 100% 100% 100% 100% 100% 100% 100% 100% 100%
Receivables 1% 0% 2% 3% 9% 25% 22% 20% 20%
Inventory 8% 5% 6% 7% 6% 6% 5% 21% 13%
Cash & Bank 12% 15% 20% 25% 26% 16% 21% 20% 32%

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 AVG MIN MAX
Mar-22
1% 4% 1% 11%
72% 55% 21% 78%
0% 1% 0% 3%
27% 40% 19% 65%
100% 100% 100% 100%
17% 35% 17% 57%
1% 7% 0% 38%
5% 4% 0% 9%
77% 53% 29% 77%
100% 100% 100% 100%
18% 12% 0% 25%
13% 9% 5% 21%
27% 21% 12% 32%
 CAPLIN POINT LABORATORIES LTD GOOD
FINANCIAL HEALTH BAD
FINANCIAL LEVERAGE= 1.37 MORE THAN 4 IS RISKY
DEBT TO EQUITY RATIO= 0.00 LESS THAN 1 IS GOOD
INTEREST COVERAGE RATIO= 668.50 HIGHER IS BETTER (atleast greater than 10)

Jun-13 Jun-14 Jun-15 Mar-16 Mar-17 Mar-18 Mar-19

INVENTORY TURNOVER 12.19 17.68 18.43 12.69 18.02 18.97 17.32
DAYS IN INVENTORY 29.94 20.64 19.80 28.76 20.26 19.24 21.07
DAYS IN RECEIVABLES 2.47 0.19 8.21 12.16 30.01 85.11 89.92
FIXED ASSET TURNOVER 3.88 1.69 2.23 1.66 2.65 3.19 2.86
Total assets/Total liabilities= 1.47 1.52 1.69 1.92 2.68 3.66 5.10
Total debt/Total assets= 0.03 0.02 0.01 0.01 0.00 0.00 0.00
Total debt/Total equity= 0.11 0.05 0.02 0.02 0.00 0.00 0.00
Interest coverage ratio= 29.75 53.49 56.04 177.62 233.60 309.80 392.16
CFFO/capital expenditures= 1.3 2.0 5.2 2.8 1.4 1.1
Depreciation/CFFO= 4.8% 5.9% 16.8% 17.6% 19.7% 28.6% 28.1%
Capital expenditures/Depreciation= 13.15 2.98 1.09 1.81 2.55 3.21
TOTAL DEBT / CASH FLOW = 0.15 0.06 0.04 0.05 0.01 0.01 0.01
TOTAL DEBT / FREE CASH FLOW = 0.25 0.08 0.06 0.02 0.03 0.07

click here for the explanation

 http://www.investordiary.in/

Mar-20 Mar-21 Mar-22 AVG MIN MAX

3.62 5.93 5.58 13.04 3.62 18.97
100.73 61.57 65.36 38.74 19.24 100.73
96.81 96.08 92.03 51.30 0.19 96.81
3.17 3.48 4.43 2.92 1.66 4.43
4.46 3.46 3.70 2.97 1.47 5.10
0.03 0.01 0.00 0.01 0.00 0.03
0.04 0.02 0.00 0.03 0.00 0.11
843.06 198.25 552.17 285 30 843
0.5 4.2 10.5 3.2 0.5 10.5
70.8% 13.8% 13.9% 22.0% 4.8% 70.8%
2.77 1.72 0.68 3.33 0.68 13.15
0.86 0.07 0.01 0.13 0.01 0.86
-0.90 0.09 0.01 -0.03 -0.90 0.25
LESS THAN 3 IS BEST
 INCOME STATEMENT
Jun-13 Jun-14 Jun-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22
SALES 127 173 252 239 402 540 649 863 1061 1269
% of Growth YoY 36% 45% -5% 68% 34% 20% 33% 23% 20%
COST OF GOODS SOLD 90 112.91 155.99 139.97 211.85 269.32 338.9 834.98 340.95 667.48
GROSS PROFIT 37 60 96 99 190 271 310 28 720 602
SELLING,GENERAL&ADMINISTRATIVE EXP 17 26 38 36 64 80 98 158 226 271
OPERATING INCOME BEFORE DEPRECIATION 24 40 63 68 135 208 251 301 352 433
DEPRECIATION,DEPLETION&AMORTIZATION 2 4 8 7 13 19 23 32 37 47
OPERATING PROFIT 23 36 54 60 121 189 227 270 315 387
OTHER INCOME 2 4 3 4 10 13 19 41 23 38
INTEREST EXPENSE 1 1 1 0 1 1 1 0 2 1
PRETAX INCOME 22 36 53 60 121 188 227 269 314 386
% of Growth YoY 61% 50% 12% 101% 56% 20% 19% 16% 23%
TOTAL TAXES 8 10 12 14 25 44 50 54 62 77
NET PROFIT 14 26 41 46 96 145 177 215 242 300
% of Growth YoY 85% 59% 12% 109% 51% 22% 22% 13% 24%
EPS 1.8 3 5 6 13 19 23 28 32 40
% of Growth YoY 85% 59% 12% 109% 51% 22% 22% 13% 23%
PRICE TO EARNINGS 5.1 12.7 34.3 33.4 30.7 29.7 17.2 9.9 12.6 17.1
PRICE 9 43 186 202 388 570 402 282 403 678
DIVIDEND PAYOUT RATIO 27.0% 23.4% 18.4% 19.8% 11.9% 10.4% 9.4% 8.8% 9.4% 10.1%
MARKET CAP 71 329 1,407 1,527 2,936 4,306 3,037 2,135 3,050 5,141
RETAINED EARNINGS 10 20 33 37 84 130 160 196 220 270
BUFFETT'S $1 TEST 4.4

EXPENSES
Jun-13 Jun-14 Jun-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22

COST OF MATERIALS CONSUMED 86 104 136 122 185 241 299 608 389 589
POWER AND FUEL 1 3 9 8 10 11 14 15 16 21
OTHER MANUFACTURING EXPENSES 2 5 10 10 17 15 16 17 18 25
SELLING AND ADMIN 6 9 14 13 32 38 49 86 108 133
CHANGES IN INVENTORY 1 1 1 1 0 2 10 195 -82 32
EMPLOYEE BENEFIT EXPENSES 8 13 19 18 31 39 47 68 103 115
FINANCE COSTS 1 1 1 0 1 1 1 0 2 1
DEPRECIATION 2 4 8 7 13 19 23 32 37 47
OTHER EXPENSES 3 4 4 5 1 2 2 4 16 22
 GOOD INCOME STATEMENT
Trailing BAD Jun-13 Jun-14 Jun-15 Mar-16 Mar-17 Mar-18 Mar-19
1417 % % % % % % %
SALES 100% 100% 100% 100% 100% 100% 100%
COST OF GOODS SOLD 71.21% 65.23% 61.96% 58.63% 52.74% 49.89% 52.24%
GROSS MARGINS 28.79% 34.77% 38.04% 41.37% 47.26% 50.11% 47.76%
SELLING,GENERAL&ADMINISTRATIVE EXP 13.15% 14.97% 14.96% 15.04% 16.00% 14.82% 15.12%
EBITDA MARGINS 19.25% 23.06% 24.92% 28.43% 33.55% 38.53% 38.67%
DEPRECIATION,DEPLETION&AMORTIZATION 1.21% 2.05% 3.33% 3.13% 3.31% 3.52% 3.61%
428 OPERATING MARGINS 16.38% 18.86% 20.39% 23.76% 27.87% 32.66% 32.13%
56 OTHER INCOME/EXPENSE 1.65% 2.15% 1.20% 1.53% 2.37% 2.35% 2.93%
1 INTEREST EXPENSE 0.61% 0.39% 0.39% 0.14% 0.13% 0.11% 0.09%
427 PBT MARGINS 17.43% 20.62% 21.21% 25.15% 30.11% 34.89% 34.97%
TOTAL TAXES 6.39% 5.63% 4.87% 5.98% 6.34% 8.10% 7.76%
NET MARGINS 11.01% 14.93% 16.30% 19.17% 23.80% 26.82% 27.22%
353 EFFECTIVE TAX RATE 36.68% 27.32% 22.96% 23.78% 21.04% 23.22% 22.18%

47

15.0
click here for the explanation
700
Mar-20 Mar-21 Mar-22
% % %
100% 100% 100% AVG MIN MAX
96.73% 32.13% 52.58% 59.34% 32.13% 96.73%
3.27% 67.87% 47.42% 40.66% 3.27% 67.87%
18.34% 21.33% 21.33% 16.51% 13.15% 21.33%
34.92% 33.18% 34.14% 30.87% 19.25% 38.67%
3.66% 3.48% 3.69% 3.10% 1.21% 3.69%
26.47% 27.54% 27.42% 25.35% 16.38% 32.66%
4.78% 2.16% 3.03% 2.42% 1.20% 4.78%
0.04% 0.15% 0.06% 0.21% 0.04% 0.61%
31.22% 29.55% 30.39% 27.56% 17.43% 34.97%
6.30% 5.86% 6.09% 6.33% 4.87% 8.10%
24.91% 22.83% 23.62% 21.06% 11.01% 27.22%
20.18% 19.83% 20.05% 23.72% 19.83% 36.68%

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 Common Form P&L
Rs Cr Jun-13 Jun-14 Jun-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21
Sales 100% 100% 100% 100% 100% 100% 100% 100% 100%
Raw Material Cost 67% 60% 54% 51% 46% 45% 46% 70% 37%
Change in Inventory 1% 1% 0% 0% 0% 0% 2% 23% -8%
Power and Fuel 1% 2% 3% 3% 2% 2% 2% 2% 2%
Other Mfr. Exp 2% 3% 4% 4% 4% 3% 3% 2% 2%
Employee Cost 6% 7% 7% 8% 8% 7% 7% 8% 10%
Selling and Admin Cost 4% 5% 6% 5% 8% 7% 7% 10% 10%
Other Expenses 3% 3% 2% 2% 0% 0% 0% 0% 1%
Operating Profit 16% 20% 23% 26% 31% 35% 33% -15% 47%
Other Income 2% 2% 1% 2% 2% 2% 3% 5% 2%
Depreciation 1% 2% 3% 3% 3% 4% 4% 4% 3%
Interest 1% 0% 0% 0% 0% 0% 0% 0% 0%
Profit Before Tax 17% 21% 21% 25% 30% 35% 35% 31% 30%
Tax 6% 6% 5% 6% 6% 8% 8% 6% 6%
Net Profit 11% 15% 16% 19% 24% 27% 27% 25% 23%
Dividend Amount 3% 3% 3% 4% 3% 3% 3% 2% 2%
 GOOD
Mar-22 BAD AVG MIN MAX
100% 100% 100% 100%
46% 52% 37% 70% A common-size financial statement is displays line
items as a percentage of one selected or common
3% 2% -8% 23% figure. Creating common-size financial statements
2% 2% 1% 3% makes it easier to analyze a company over time and
2% 3% 2% 4% compare it with its peers. Using common-size
financial statements helps investors spot trends that
9% 8% 6% 10%
a raw financial statement may not uncover.
11% 7% 4% 11%
2% 1% 0% 3%
26% 24% -15% 47%
3% 2% 1% 5%
4% 3% 1% 4%
0% 0% 0% 1%
30% 28% 17% 35%
6% 6% 5% 8%
24% 21% 11% 27%
2% 3% 2% 4%
ancial statement is displays line
age of one selected or common
mmon-size financial statements
nalyze a company over time and
ts peers. Using common-size
helps investors spot trends that
statement may not uncover.
 CAPLIN POINT LABORATORIES LTD
Rs Cr Jun-13 Jun-14 Jun-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22
Net Fixed Asset Turnover 2.6 2.3 1.9 2.7 3.4 3.3 3.5 3.7 4.3
NET MARGINS 11% 15% 16% 19% 24% 27% 27% 25% 23% 24%
DIVIDEND PAYOUT RATIO 27% 23% 18% 20% 12% 10% 9% 9% 9% 10%
Depreciation as % of NFA 5% 3% 7% 5% 9% 11% 10% 12% 12% 16%

SELF-SUSTAINABLE GROWTH RATE (SSGR) 24.73% 30.77% 44.47% 62.20% 69.02% 67.34% 68.65%

TRENDS: 3 YEARS 5 YEARS 7 YEARS 10 YEARS

SALES GROWTH RATE (CAGR) 25.1% 25.9% 26.0% 29.1%
PBT Growth (CAGR) 19.4% 26.1% 32.6% 37.4%
Net Profit Growth (CAGR) 19.3% 25.7% 32.9% 40.6%

Price to Earning 13.2 17.3 21.5 20.3

Receivables (CAGR) 26.0% 57.5% 78.0% 93.0%
Inventory (CAGR) 82.4% 59.1% 49.4% 40.8%
Check for long term vs short term trends here. Check if the growth over past 3 or
5 years has slowed down / improved compared to long term (7 to 10 years) growth
numbers.
 http://www.investordiary.in/

NFAT
NPM
DPR
DEP

FORMALA FOR SSGR = NFAT*NPM*(1-DPR)-DEP

click here for the explanation

 CAPLIN POINT LABORATORIES LTD
Rs Cr Jun-13 Jun-14 Jun-15 Mar-16 Mar-17 Mar-18
SALES 127 173 252 239 402 540
NET PROFIT 14 26 41 46 96 145
NET MARGINS 11% 15% 16% 19% 24% 27%
DEPRECIATION,DEPLETION& 2 4 8 7 13 19
NFA 33 102 113 144 152 169
Depreciation as % of NFA 5% 3% 7% 5% 9% 11%
Net Fixed Asset Turnover 2.6 2.3 1.9 2.7 3.4
DIVIDEND PAYOUT RATIO 27% 23% 18% 20% 12% 10%
(1-DPR) 0.73 0.77 0.82 0.80 0.88 0.90
S LTD
Mar-19 Mar-20 Mar-21 Mar-22
649 863 1061 1269
177 215 242 300
27% 25% 23% 24%
23 32 37 47
227 273 305 287
10% 12% 12% 16%
3.3 3.5 3.7 4.3
9% 9% 9% 10%
0.91 0.91 0.91 0.90
 Cash Flow Statement 300
CAPLIN POINT LABORATORIES LTD
Rs Cr Jun-13 Jun-14 Jun-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Total 200
Cash from Operating Activity (CFO) 32 60 50 42 68 66 83 45 269 337 1,052
% Growth YoY 87% -17% -15% 59% -2% 25% -46% 501% 25%
Cash from Investing Activity -45 -44 -23 -6 -36 -69 -100 -54 -30 -271 -678 100
Cash from Financing Activity -1 -6 -9 -14 -7 -12 90 80 -24 -41 56 CFFO
Net Cash Flow -15 10 19 23 25 -14 73 70 215 25 430 - Cf-invest
CFO/Sales 25% 35% 20% 18% 17% 12% 13% 5% 25% 27% Jan-13 Jan-15 Jan-17 Jan-19 Jan-21 Cf-finance
CFO/Net Profit 229% 231% 122% 93% 71% 46% 47% 21% 111% 112% 108.20% -100
Capex 47 25 8 24 49 75 88 64 32
FCF 13 25 34 44 18 8 -43 205 305 609
-200
Average FCF (3 Years) 156 CFFO (Good, i.e., business is generating cash)
FCF Growth YoY 88% 37% 27% -59% -54% -623% -577% 49% CFI (Bad, i.e, instead of reinvesting in business, they are liquidating it)
-300
FCF/Sales 8% 10% 14% 11% 3% 1% -5% 19% 24%
FCF/Net Profit 51% 61% 75% 46% 12% 5% -20% 85% 102% 400
Cf-finance Cf-invest CFFO Net Profit CFFO Cash Flow From Operating Activities
350
Some Important Questions to Ask while Analysing Mar-22 -41 -271 337 Mar-22 300 337 Cash Flow From Investing Activities
300
the Cash Flow Statement of the Company Mar-21 -24 -30 269 Mar-21 242 269 Cash Flow From Financing Activities
What are the major sources of cash? Mar-20 80 -54 45 Mar-20 215 45 250 Multiple Sources
Cash Flow From Operating Activities Mar-19 90 -100 83 Mar-19 177 83 200 Net Profit
Mar-18 -12 -69 66 Mar-18 145 66 CFFO
Is cffo sufficient to cover cap ex? 150 Cash Flow From Operating Activities
YES Mar-17 -7 -36 68 Mar-17 96 68 100 Cash Flow From Investing Activities
Relationship between Net Profit & CFFO for past 10yrs? Mar-16 -14 -6 42 Mar-16 46 42 Cash Flow From Financing Activities
50
Consistent Jun-15 -9 -23 50 Jun-15 41 50 Multiple Sources
Jun-14 -6 -44 60 Jun-14 26 60 0
click here for the explanation Jan-13 Jan-15 Jan-17 Jan-19 Jan-21
Jun-13 -1 -45 32 Jun-13 14 32 Consistent
In-Consistent
 CAPLIN POINT LABORATORIES LTD
PROFITABILITY
YEAR Jun-13 Jun-14 Jun-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22
RETURN ON CAPITAL EMPLOYED% 47.9% 55.9% 57.1% 46.4% 53.9% 51.9% 38.1% 29.6% 31.9% 30.4%

DUPONT-ANALYSIS
YEAR Jun-13 Jun-14 Jun-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22

NET MARGIN% 11.0% 14.9% 16.3% 19.2% 23.8% 26.8% 27.2% 24.9% 22.8% 23.6%

ASSET TURNOVER 0.9 1.0 1.1 0.9 1.1 1.1 0.9 0.8 0.8 0.7

RETURN ON ASSETS% 10.36% 14.37% 17.93% 17.13% 26.68% 28.93% 23.78% 19.10% 17.77% 17.27%

FINANCIAL LEVERAGE 3.13 2.91 2.46 2.08 1.59 1.38 1.24 1.29 1.41 1.37

RETURN ON EQUITY% 32.4% 41.9% 44.0% 35.7% 42.5% 39.8% 29.6% 24.6% 25.0% 23.7%

FREE CASH FLOW TO SALES ANALYSIS

FREE CASH FLOW = CASHFLOW FROM OPERATIONS-CAPITAL SPENDING

YEAR Jun-14 Jun-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22

CFFO (CASH FLOW STATEMENT) 59.83 49.88 42.4 67.61 66.49 83.42 44.68 268.61 336.75

CAPITAL EXPENDITURE 46.55 24.94 8.18 24.09 48.52 75.2 87.7 63.57 31.98

OWNER'S EARNINGS(FCFE) 13.28 24.9 34.2 43.5 18.0 8.2 -43.0 205.0 304.8
 FREE CASH FLOW/SALES(%) 7.67% 9.91% 14.33% 10.84% 3.33% 1.27% -4.98% 19.32% 24.01%
MINIMUM 5% IS GOOD

PROFITABILITY MATRIX
FREE CASH FLOW TO SALES 8.59% HIGH LESS RISKY COMPANY

ROE<15% AND FREE CASH FLOW>5% ROE>15% AND FREE CASH FLOW>5%
RETURN ON EQUITY % 28.5%
GOOD FREE CASH FLOW BUT BAD ROE GREAT COMPANY
FREE CASH FLOW 5%

HIGH RISK COMPANY

ROE<15% AND FREE CASH FLOW<5% ROE>15% AND FREE CASH FLOW<5%

WORST COMPANY GOOD ROE BUT BAD FREE CASH FLOW

LOW
15%
RETURN ON EQUITY

PROTABILITY MATRIX GREAT COMPANY

PRICING POWER MOAT NONE STRENGTH

COST ADVANTAGE MOAT NONE NO MOAT
 COMPETETIVE ADVANTAGE PERIOD
FAVORABLE
LONG CAP LONGEST CAP

FAVORABLE COMPANY STRATEGY FAVORABLE COMPANY STRATEGY

BUT AND
UNFAVORABLE INDUSTRY STRUCTURE FAVORABLE INDUSTRY STRUCTURE

COMPANY STRATEGY

SHORTEST CAP SHORT CAP

1. PRICING POWER
2. LOW-COST
3. BOTH UNFAVORABLE COMPANY STRATEGY FAVORABLE INDUSTRY STRUCTURE
4. NONE AND BUT
UNFAVORABLE INDUSTRY STRUCTURE UNFAVORABLE COMPANY STRATEGY

UNFAVORABLE
UNFAVORABLE INDUSTRY STRUCTURE FAVORABLE

COMPETETIVE ADVANTAGE MATRIX SHORTEST CAP

GROWTH ADVANTAGE PERIOD

HIGH
HIGH PAT GROWTH HIGHEST PAT GROWTH

HIGH COMPANY GROWTH MINDSET HIGH COMPANY GROWTH MINDSET

BUT AND
 LOW INDUSTRY GROWTH HIGH INDUSTRY GROWTH

COMPANY GROWTH
MINDSET
LOWEST PAT GROWTH LOWER PAT GROWTH
1. AGGRESSIVE CAPACITY EXPANSION
2. INORGANIC GROWTH STRATEGY
3. OPERATING/FINANCIAL LEVERAGE LOW COMPANY GROWTH MINDSET LOW COMPANY GROWTH MINDSET
AND BUT
LOW INDUSTRY GROWTH HIGH INDUSTRY GROWTH

LOW
LOW INDUSTRY GROWTH HIGH

GROWTH ADVANTAGE MATRIX HIGHEST PAT GROWTH

MOAT GROWTH ADVANTAGE PERIOD

HIGH
GROWTH TRAP TRUE WEALTH CREATOR

HIGH GROWTH HIGH GROWTH

BUT AND
WEAK MOAT HIGH MOAT

TRANSITORY MULTIBAGGER ENDURING MULTIBAGGER

GROWTH
WEALTH DESTROYER QUALITY TRAP

LOW GROWTH HIGH MOAT

 AND BUT
WEAK MOAT LOW GROWTH

PERMANENT LOSS OF CAPITAL UNDERPERFORMER

WEAK
WEAK MOAT HIGH

MOAT GROWTH MATRIX TRUE WEALTH CREATOR

GOOD click here for the explanation
BAD

AVG MIN MAX

44.30% 29.58% 57.06%

AVG MIN MAX %ROE

21.1% 11.0% 27.2% 62.09%

0.9 0.7 1.1 -5.10%

19.3% 10.4% 28.9%

1.9 1.2 3.1 43.0%

33.9% 23.7% 44.0% 100%

`
GREAT COMPANY
GOOD FREE CASH FLOW B
GOOD ROE BUT BAD FREE
WORST COMPANY
GREAT COMPANY
GOOD FREE CASH FLOW BUT BAD ROE
GOOD ROE BUT BAD FREE CASH FLOW
WORST COMPANY
 CAPLIN POINT LABORATORIES LTD
RELATIVE VALUATION
CHEAP

1. EARNINGS YIELD
EXPENSIVE

☹
EARNINGS YIELD 6.64%

10 YEAR GOVT BOND YIELD 6.68% click here to know govt bond yield
click here for
YIELD SPREAD -0.04%

2. CASH RETURN

☹
CASH RETURN 3.27%

10 YEAR GOVT BOND YIELD 6.68%

YIELD SPREAD -3.41%

3. HISTORICAL PRICE TO EARNINGS RATIO

Jun-13 Jun-14 Jun-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22
P/E RATIO 5.1 12.7 34.3 33.4 30.7 29.7 17.2 9.9 12.6 17.1

☺
3 YR AVG P/E RATIO 13.2
5 YR AVG P/E RATIO 17.3
10 YR AVG P/E RATIO 20.3

TRAILING P/E RATIO 15.05

4. HISTORICAL PRICE TO SALES RATIO

Jun-13 Jun-14 Jun-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22
P/S RATIO 0.6 1.9 5.6 6.4 7.3 8.0 4.7 2.5 2.9 4.0

☺
 ☺
3 YR AVG P/S RATIO 3.1
5 YR AVG P/S RATIO 4.4
10 YR AVG P/S RATIO 4.4

TRAILING P/S RATIO 3.75

5. HISTORICAL PRICE TO BOOK RATIO

Jun-13 Jun-14 Jun-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22
P/B RATIO 1.6 5.3 15.1 11.9 13.1 11.8 5.1 2.4 3.1 4.1

☺
3 YR AVG P/B RATIO 3.2
5 YR AVG P/B RATIO 5.3
10 YR AVG P/B RATIO 7.4

TRAILING P/B RATIO 4.19

 CHEAP WOW, IT'S CHEAP! ☺
EXPENSIVE IT'S EXPENSIVE ☹
click here for the explanation
 Dicounted Cash Flow Valuation
CAPLIN POINT LABORATORIES LTD

Initial Cash Flow (Rs Cr) 156 4,924

Want to use my fundamental growth YES 5,315
Years 1-10 93%
FCF Growth Rate 15.00%
Discount Rate 12.00%
Terminal Growth Rate 3.75%
click here for the expla
Net Debt Level (Rs Cr) (550)

Year FCF Growth Present Value

1 189 21.27% 168
2 229 21.27% 182
3 277 21.27% 197
4 336 21.27% 214
5 408 21.27% 232
6 481 17.76% 243
7 549 14.26% 248
8 608 10.76% 246
9 652 7.25% 235
10 677 3.75% 218

If you don't like using past growth rates, then you can use fundamental growth rates which are more dynamic and forwardin
reinvestment ( i.e., how much money you retain in the business ) and return of equity (i.e., the return you generat

GROWTH RATE= (1- Payout Ratio) x Return on equity

ROE X (1- PAYOUT RATIO) = GROWTH

YEAR ROE (1-DPR) GROWTH
CURRENT 23.66% 89.89% 21.27%
1 23.66% 89.89% 21.27%
2 23.66% 89.89% 21.27%
3 23.66% 89.89% 21.27%
4 23.66% 89.89% 21.27%
5 23.66% 89.89% 21.27%
6 21.93% 76.91% 17.76%
7 20.20% 63.93% 14.26%
8 18.46% 50.96% 10.76%
9 16.73% 37.98% 7.25%
10 15.00% 25.00% 3.75%
TERMINAL (STABLE) 15.00% 25.00% 3.75%
What IF, Initial FCF Is Negative, Then Make Your Best Case Assumptions,

YEAR CFFO CAP EX FCF

CURRENT 337 50% 168
1 408 50% 204
2 495 50% 248
3 601 50% 300
4 728 50% 364
5 883 50% 442
6 1040 50% 520
7 1188 50% 594
8 1316 50% 658
9 1412 50% 706
10 1464 50% 732

1. SIZE 5315
2. FINANCIAL HEALTH STRONG FINANCIAL HEALTH
3. EARNINGS GROWTH CONSISTENT
4. ECONOMIC MOAT NO MOAT
5. MANAGEMENT HIGH QUALITY MANAGEMENT
6. COMPLEXITY LOW

ESTIMATING THE RISKINESS IN CASH FLOWS (DISCOUNT RATE)

Valuation
RIES LTD
GOOD
BAD
WOW, IT'S CHEAP! ☺
DCF Value (As calculated in cell B29)
Current Market Cap
DCF as % of Current Mkt Cap
IT'S EXPENSIVE
☹
click here for the explanation
Final Calculations

☹
Terminal Year 702
PV of Year 1-10 Cash Flows 2,184
Terminal Value 2,740
Total PV of Cash Flows 4,924
Current Market Cap (Rs Cr) 5,315
Share Price 700
Value Per Share 649

growth rates which are more dynamic and forwarding looking. Growth in net profit is the function of
ss ) and return of equity (i.e., the return you generate on incremental retained earnings).

TH RATE= (1- Payout Ratio) x Return on equity

EXPECTED DIVIDEND INCOME ANALYSIS (FUNDAMENTAL GROWTH)

YEAR EPS DPR Dividends Pr. Value
CURRENT 46.5 10.11% 4.70
1 56.4 10.11% 5.70 5.09
2 68.4 10.11% 6.92 5.51
3 83.0 10.11% 8.39 5.97
4 100.6 10.11% 10.17 6.47
5 122.0 10.11% 12.34 7.00
6 143.7 23.09% 33.17 16.81
7 164.2 36.07% 59.21 26.78
8 181.8 49.04% 89.17 36.01
9 195.0 62.02% 120.94 43.61
10 202.3 75.00% 151.73 48.85
Expected Dividend Income From This Stock In Next The 10 Years 498 202.12

Current Share Price 700

Estimated 10th Year Share Price 4046
Estimated 10th Year Share Price + Dividends 4544
 Total Return 20.57%

Investment Return = % EPS Growth + Dividend Income

Investment return = 15.83% 1.39%

Investment return = 17.22%

DIVIDENDS IN CRORES = 3779

Capital Gains + Dividends 581734

Estimated 10th Year Market Cap 30720

Discounted Estimated 10th Year Market Cap 9891

Discounted Dividends 202

Discounted Value 10093

Disounted Earnings Valuation 1329

 GROWTH RATE (MANUALLY INPUTTED)
ROE X (1- PAYOUT RATIO) = GROWTH EXPECTED DIVIDEND INCOME ANALYS
YEAR ROE (1-DPR) GROWTH YEAR
CURRENT 23.66% 63.40% 15.00% CURRENT
1 23.66% 63.40% 15.00% 1
2 23.66% 63.40% 15.00% 2
3 23.66% 63.40% 15.00% 3
4 23.66% 63.40% 15.00% 4
5 23.66% 63.40% 15.00% 5
6 23.66% 63.40% 15.00% 6
7 23.66% 63.40% 15.00% 7
8 23.66% 63.40% 15.00% 8
9 23.66% 63.40% 15.00% 9
10 23.66% 63.40% 15.00% 10
Expected Dividend Income From This Stock In Ne

Estimated 10th Y
Estimated 10th Year Share P
 Estimated 10th Y

Discounted Estimated 10th

Disounted Ea
IDEND INCOME ANALYSIS (MANUAL GROWTH)
EPS DPR Dividends Pr. Value
46.5 36.60% 17.03
53.5 36.60% 19.58 17.48
61.5 36.60% 22.52 17.95
70.8 36.60% 25.89 18.43
81.4 36.60% 29.78 18.92
93.6 36.60% 34.25 19.43
107.6 36.60% 39.38 19.95
123.7 36.60% 45.29 20.49
142.3 36.60% 52.08 21.04
163.7 36.60% 59.90 21.60
188.2 36.60% 68.88 22.18
ome From This Stock In Next The 10 Years 398 197.47

Current Share Price 700

Estimated 10th Year Share Price 4046
mated 10th Year Share Price + Dividends 4444
 Total Return 20.30%

Investment Return = % EPS Growth + Dividend Income

Investment return = 15.00% 1.12%

Investment return = 16.12%

DIVIDENDS IN CRORES = 3018

Capital Gains + Dividends 580974

Estimated 10th Year Market Cap 30720

counted Estimated 10th Year Market Cap 9891

Discounted Dividends 197

Discounted Value 10088

Disounted Earnings Valuation 1329

 Dhandho Intrinsic Value Calculation
Read the book - The Dhandho Investor by Mohnish Pabrai

CAPLIN POINT LABORATORIES LTD CAPLIN POINT LAB

Dhandho - Worst Case Dhandho -
Year FCF (Rs Cr) PV of FCF (Rs Cr) Assumed FCF Growth Year
0 Excess Cash (Latest) 552 Year 1-3 15% 0
1 FY18 179 160 Year 4-6 10% 1
2 FY19 206 164 Year 7-10 5% 2
3 FY20 237 168 Discount Rate 12% 3
4 FY21 260 165 4
5 FY22 286 162 Last 5-Years' CAGR 5
6 FY23 315 160 Sales 26% 6
7 FY24 331 150 PBT 26% 7
8 FY25 347 140 FCF 48% 8

☹
9 FY26 365 131 9
10 FY27 383 123 10
10 3,829 1,233 10
Intrinsic Value 3,309 Intrinsic Va
Current Mkt. Cap. 5,315 Current Mkt. C
Premium/(Discount) 61% Premium/(Discou
Value Per Share 436 Value Per Sh

You have to adjust the initial free cash flows in case if they are negative.
lue Calculation CHEAP EXPENSIVE
vestor by Mohnish Pabrai
WOW, IT'S CHEAP! ☺
CAPLIN POINT LABORATORIES LTD
Dhandho - Best Case
FCF (Rs Cr) PV of FCF (Rs Cr)
IT'S EXPENSIVE
Assumed FCF Growth
☹
Excess Cash (Latest) 552 Year 1-3 20%
FY18 187 167 Year 4-6 15%
FY19 224 179 Year 7-10 10%
FY20 269 191 Discount Rate 12%
FY21
FY22
309
356
197
202
click here for the explanation
FY23 409 207
FY24 450 203
FY25 495 200

☺
FY26 544 196
FY27 599 193
8,980 2,891
Intrinsic Value 5,378
Current Mkt. Cap. 5,315
Premium/(Discount) -1%
Value Per Share 708

f they are negative.

 Total Returns Model
CAPLIN POINT LABORATORIES LTD
Particulars Jun/13 Jun/14 Jun/15 Mar/16 Mar/17 Mar/18 Mar/19 Mar/20 Mar/21 Mar/22
Net Profit (Rs Crore) 14 26 41 46 96 145 177 215 242 300
Net Profit Margin 11% 15% 16% 19% 24% 27% 27% 25% 23% 24%
Return on Equity 32% 42% 44% 36% 43% 40% 30% 25% 25% 24%
Calculations (Enter values only in black cells)
Estimated CAGR in Net Profit over next 10 years 15.83%
GOOD WOW, IT'S CHEAP! ☺
Estimated Net Profit after 10 years (Rs Cr)
Current P/E (x)
Exit P/E in the 10th year from now (x, Estimated)
1,536
15.0
20.0
BAD IT'S EXPENSIVE ☹
Esti. Market Cap (10th year from now; Rs Cr) 30,720
Cost of Capital/Discount Rate 12%

☺
Discounted Value (Rs Cr) 10,093
Current Market Cap (Rs Cr) 5,315

If you invest 1 lakh today, in 10 yrs it will grow into 581734

Investment Return from this stock in the next 10 years 17.22%
Speculative Return from this stock in the next 10 years 3.34%
Capital Gains 19.18%
Dividend Return 1.39% Total
+ Speculative Return =
Total Return = Investment Return + Speculative Return 20.57% Investment Return Return
PEG RATIO 0.95 15.83% 1.39% + 3.34% = 20.57%
15.8%
DANGER! DANGER! You have Inputted The Most Unrealistic And Irrational Growth Rate
ATTENTION PLEASE! Make Sure That Capital Gains Are Atleast 15%
CAGR (9-Yr) CAGR (5-Yr)
41% 26%

ATTENTION PLEASE!
Make Sure That Capital Gains Are Atleast
15%

Multi-Bagger Gains %

285%
 Intrinsic Value Range UNDER-VALUED
CAPLIN POINT LABORATORIES LTD OVER-VALUED
Market Cap Value Per Share
Lower Higher Lower Higher
Dhandho 3,309 5,378 435.84 708.35
DCF 4,924 648.57
Total Return 10,093 1,329.41
PE < G Price 5,593 736.63
Current Market Cap. 5,315 share price 700.10 W.Avg Intrinsic Value

ENTRY PRICE Implied PE ASSUMPTIONS

PHASE-1 695 14.93 No.Of Shares Bought in Phase-1
PHASE-2 617 13.27 No.Of Shares Bought in Phase-2
PHASE-3 579 12.44 No.Of Shares Bought in Phase-3
Total No.Of Shares Bought
EXIT PRICE Implied PE
PHASE-1 1662 35.72 Capital Gains by selling in Phase-1
PHASE-2 1795 38.58 Capital Gains by selling in Phase-1
PHASE-3 1994 42.86 Capital Gains by selling in Phase-1
Total Capital Gains (PROFITS)
 LET'S CALCULATE THE RETURN YOU CAN GENERATE

YOUR INVESTMENT = 30,000

Phase-1 Phase-2 Phase-3

10000 10000 10000

772

TIONS
ught in Phase-1 14
ught in Phase-2 16
ught in Phase-3 17
ares Bought 48

elling in Phase-1 16,516

elling in Phase-1 18,638
elling in Phase-1 21,820 Before 30,000
ins (PROFITS) 56,974 189.91% After 86974
 26516
28637.68
31820
86974

Total Return
 10,000

188%

630
1817
CAPLIN POINT LABORATORIES LTD
SCREENER.IN
Narration Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22
Sales 268 274 279 300 304 326 339 346 359 372
% Growth YOY 13% 19% 22% 15% 18% 14%
Expenses 181 190 193 208 202 225 239 244 253 263
Operating Profit 87 84 86 93 101 101 100 102 106 109
Other Income 2 6 9 9 8 10 12 14 16 14
Depreciation 9 9 10 12 12 12 11 11 11 11
Interest 0 0 0 0 0 0 0 0 0 0
Profit before tax 80 80 85 90 98 99 100 105 110 112
PBT Margin 30% 29% 30% 30% 32% 30% 29% 30% 31% 30%
% Growth YOY 22% 23% 18% 17% 13% 13%
Tax 17 14 17 18 21 19 19 19 18 14
Net profit 57 64 66 71 75 75 79 85 92 97
% Growth YOY 32% 16% 19% 20% 22% 30%
OPM 33% 31% 31% 31% 33% 31% 29% 30% 29% 29%
 NEVER PLACE YOUR BUY ORDER WITHOUT GOING THROUGH THIS CHECKLIST

STUDY ITS PRODUCTS/SERVICES CAREFULLY,CHECK WHETHER THEY EXIST IN REAL WORLD AND WHAT
THEY CLAIM ABOUT THEIR PRODUCT/SERVICE IS TRUE OR MAKES SENSE.

READ ATLEAST 10 YEARS OF ANNUAL REPORTS SLOWLY AND SKEPTICALLY.

ARE YOU EXITED BY STORYLINE AND IGNORING WARNING SIGNS?

IS IT JUST LOW P/E OR LOW VALUATION THAT IS TEMPTING YOU TO INVEST? BUY CHEAP STOCKS, BUT
NOT CHEAP QUALITY STOCKS.

STAY AWAY FROM ACQUISITION HUNGRY COMPANIES.

IF YOU FIND ANY RED FLAGS IN YOUR ANALYSIS, NEVER IGNORE, DIG DEEPER.

IF RESULTS ARE GETTING DELAYED.STAY AWAY.

STAY AWAY FROM COMPANIES WHERE INSIDERS ARE SELLING LARGE STAKES.

PROMOTER SHARES ARE PLEDGED,THAT IS ALMOST EQUAL TO SELLING SHARES, SO BE WARY.

IF COMPANY IS FACING TROUBLES COLLECTING CASH (INCREASING RECEIVABLE DAYS).STAY AWAY.

ANALYSE RELATED PARTY TRANSACTIONS CAREFULLY, ESPECIALLY LOANS.

READ 10-YEARS OF REVENUE RECOGNITION POLICIES AND WATCH OUT FOR ANY POLICY CHANGES.

READ 10-YEARS OF AUDITOR REPORTS.

BE WARY WITH COMPANIES NOT CONDUCTING CONFERENCE CALLS AND NO CHAIRMANS LETTER IN THE
ANNUAL REPORT.

NO FINANCIAL DATA ABOUT ACQUIRED COMPANIES, WATCH OUT.

NEVER INVEST IN COMPANIES WITH HIGH POLITICAL CONNECTION.

COMPANY NAME CAPLIN POINT LABORATORIES LTD
LATEST VERSION 2.10 PLEASE DO NOT MAKE ANY CH
CURRENT VERSION 2.10

META
Number of shares 7.59
Face Value 2
Current Price 700.1
Market Capitalization 5315.28

PROFIT & LOSS

Report Date Jun-13 Jun-14 Jun-15 Mar-16 Mar-17 Mar-18
Sales 127.03 173.09 251.77 238.72 401.65 539.84
Raw Material Cost 85.69 103.54 136.42 121.84 184.78 240.57
Change in Inventory 1.24 0.96 0.80 0.68 -0.15 2.39
Power and Fuel 1.12 3.07 8.61 7.56 9.91 10.98
Other Mfr. Exp 2.41 5.34 10.16 9.89 17.31 15.38
Employee Cost 7.81 12.76 18.78 18.47 30.81 39.14
Selling and admin 5.55 8.67 14.41 12.6 32.04 38.39
Other Expenses 3.34 4.48 4.47 4.83 1.4 2.46
Other Income 2.1 3.72 3.02 3.66 9.52 12.67
Depreciation 1.54 3.54 8.38 7.48 13.3 19
Interest 0.77 0.68 0.97 0.34 0.52 0.61
Profit before tax 22.14 35.69 53.39 60.05 120.95 188.37
Tax 8.12 9.75 12.26 14.28 25.45 43.74
Net profit 13.98 25.85 41.04 45.76 95.61 144.79
Dividend Amount 3.78 6.04 7.56 9.07 11.34 15.12

Quarters
Report Date Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21
Sales 268.12 274.39 278.71 300.44 303.53 326.2
Expenses 180.69 190.46 193.02 207.83 202.36 225.24
Other Income 1.76 5.82 9.46 9.21 8.49 9.54
Depreciation 8.88 9.27 9.86 12.03 11.72 11.7
Interest 0.48 0.28 0.32 0.27 0.21 0.14
Profit before tax 79.83 80.2 84.97 89.52 97.73 98.66
Tax 17 14.06 17.05 17.99 20.91 19.38
Net profit 56.89 64.46 66.37 70.85 74.98 74.95
Operating Profit 87.43 83.93 85.69 92.61 101.17 100.96

BALANCE SHEET
Report Date Jun-13 Jun-14 Jun-15 Mar-16 Mar-17 Mar-18
Equity Share Capital 15.11 15.11 15.11 15.11 15.12 15.12
Reserves 28.03 46.63 78.08 113.03 209.65 348.71
Borrowings 4.70 3.33 2.08 2.00 0.73 0.53
Other Liabilities 87.07 114.85 133.56 137 132.88 136.09
Total 134.91 179.92 228.83 267.14 358.38 500.45
Net Block 32.71 102.24 113.13 144.23 151.83 169.48
Capital Work in Progress 51.48 24.96 30.63 0.23 3.42 15.29
Investments 1.19 0.44 0.45 0.44 17.44 46.67
Other Assets 49.53 52.28 84.62 122.24 185.69 269.01
Total 134.91 179.92 228.83 267.14 358.38 500.45
Receivables 0.86 0.09 5.66 7.95 33.02 125.88
Inventory 10.42 9.79 13.66 18.81 22.29 28.46
Cash & Bank 16.84 26.82 45.37 68.1 93.07 79.28
No. of Equity Shares 15110000 15110000 15110000 15110000 75576750 75603500
New Bonus Shares
Face value 10 10 10 10 2 2

CASH FLOW:
Report Date Jun-13 Jun-14 Jun-15 Mar-16 Mar-17 Mar-18
Cash from Operating Activity 31.95 59.83 49.88 42.4 67.61 66.49
Cash from Investing Activity -45.44 -43.89 -22.66 -5.72 -36.11 -69.03
Cash from Financing Activity -1.47 -5.96 -8.67 -13.95 -6.74 -11.6
Net Cash Flow -14.96 9.98 18.55 22.73 24.76 -14.14

PRICE: 9.4 43.49 186.17 202.04 388.35 569.55

DERIVED:
Adjusted Equity Shares in Cr 7.56 7.56 7.56 7.56 7.56 7.56
DO NOT MAKE ANY CHANGES TO THIS SHEET

Mar-19 Mar-20 Mar-21 Mar-22

648.69 863.2 1061.29 1269.41
298.85 608.26 389.39 589.43
10.07 195.10 -82.35 31.92
13.76 14.81 16.36 21.4
16.22 16.81 17.55 24.73
47.11 67.76 102.53 115.3
48.63 86.26 108.3 133.39
2.34 4.29 15.57 22.1
19.03 41.29 22.94 38.44
23.43 31.62 36.97 46.9
0.58 0.32 1.59 0.70
226.87 269.46 313.62 385.82
50.32 54.38 62.19 77.37
176.57 215.01 242.27 299.84
16.64 18.91 22.7 30.32

Mar-22 Jun-22 Sep-22 Dec-22

339.24 346.33 359.05 372.07
239.3 244.15 253.48 262.7
11.51 13.94 16.48 14.16
11.45 10.97 11.46 11.43
0.08 0.06 0.14 0.36
99.92 105.09 110.45 111.74
19.09 18.78 18.42 14.35
79.06 84.99 91.67 97.48
99.94 102.18 105.57 109.37
Mar-19 Mar-20 Mar-21 Mar-22
15.13 15.13 15.13 15.16
581.86 858.2 954.13 1252.2
0.54 38.61 18.39 2.13
144.99 213.81 375.96 466.83
742.52 1125.75 1363.61 1736.32
226.84 272.5 305.34 286.57
9.7 20.12 13.88 17.73
69.96 60.79 11.2 88.98
436.02 772.34 1033.19 1343.04
742.52 1125.75 1363.61 1736.32
159.81 228.96 279.36 320.06
37.45 238.23 179.01 227.31
152.99 223.43 438.33 462.99
75630250 75642750 75642750 75788876

2 2 2 2

Mar-19 Mar-20 Mar-21 Mar-22

83.42 44.68 268.61 336.75
-99.73 -54.33 -29.68 -271.03
89.79 79.77 -23.98 -40.71
73.48 70.11 214.95 25.01

401.7 282.4 403.45 678.2

7.56 7.56 7.56 7.58

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