SEQUENT SCIENTIFIC - Q1 FY 21 - RESULTS ANALYSIS

 

SEQUENT SCIENTIFIC

Q1 FY 21 RESULTS ANALYSIS

 

Management  

                

Gopakumar G Nair             Chairman & Ind.Director   

Manish Gupta              Managing Director & CEO  

Sharat Narasapur        Joint Managing Director   

 

COMPANY OVERVIEW

 

Sequent Scientific Ltd is a leading manufacturer, exporter of specialized quality formulations having an objective of fulfilling the diverse demands of pharmaceutical industry.

The company specializes in the manufacturing of the formulation belonging to anthelmintic & anti-parasitic segment.

They are also engaged in the business of human health & animal health.

 

 

Sequent Scientific (in Rs. Cr.)	Jun '20	Mar '20	Dec '19	Sep '19	Jun '19	YOY	QOQ
Net Sales/Income from operations	310.27	300.58	316.42	284.22	278.02	11.6	3.22
Consumption of Raw Materials	142.67	133.94	132.18	122.54	120.03	18.86	6.52
Purchase of Traded Goods	32.34	19.65	28.65	18.31	22.27	45.22	64.58
Increase/Decrease in Stocks	-15.57	-4.19	0.93	9.91	0.81	-2022.22	271.6
Employees Cost	44.14	41.75	42.8	40.8	39.71	11.16	5.72
Depreciation	13.03	13.09	13.05	12.46	12.01	8.49	-0.46
Other Expenses	55.67	64.69	61.87	55.51	56.75	-1.9	-13.94
P/L Before Other Inc., Int., Excpt. Items & Tax	37.99	31.64	36.93	24.7	26.43	43.74	20.07
Other Income	1.55	1.83	0.98	5.97	1.31	18.32	-15.3
P/L Before Int., Excpt. Items & Tax	39.54	33.47	37.91	30.67	27.74	42.54	18.14
Interest	7.65	9.33	9.6	7.84	8.95	-14.53	-18.01
P/L Before Tax	31.89	24.14	28.31	22.83	18.8	69.63	32.1
Tax	7.42	5.91	4.25	-1.64	3.5	112	25.55
Net Profit/(Loss) For the Period	24.47	18.23	24.06	24.47	15.3	59.93	34.23
Minority Interest	-3.55	-1.37	-3.75	-3.18	-3.84	-7.55	159.12
Equity Share Capital	49.67	49.67	49.67	49.37	49.37	0.61	0
Basic EPS	0.85	0.69	0.83	0.88	0.47	80.85	23.19
MP	135
VOLUME	856000
PE	39.70588
52 Wk L/H	52	145.45

 

Annual	Mar-20	Mar-19	Mar-18	Mar-17	Mar-16
Sales	1,179	1,039	847	683	606
Other Income	10	8	16	11	13
Total Income	1,189	1,047	864	694	619
Total Expenditure	1,059	956	807	680	596
EBIT	129	91	56	13	22
Interest	35	32	33	28	38
Tax	12	2	13	0	2
Net Profit	82	56	10	-13	-17

 

 

Historical Prices
	3 N BEFORE	Current Price	%Gain / Loss
Open Price	84.15	135	60.43
	1 YR BEF
Open Price	71	135	90.14
	2 YR BEF
Open Price	72.8	135	85.44
	3 YR BEF
Open Price	117	135	15.38
Share Holding Pattern in (%)
Standalone	Mar-20	Dec-19	Sep-19	Jun-19
Promoters	56.15	56.15	56.5	56.5
Pledged	71.41	62.12	70.72	41.82
FII/FPI	8.55	6.75	6.77	8.5
Total DII	19.66	20.56	20.21	19.51
Fin.Insts	0.21	0.42	0.44	0
Insurance Co	0	0	0	0
MF	3.79	3.79	3.82	3.82
Others DIIs	15.66	16.35	15.95	15.69
Others	15.64	16.53	16.51	15.49
Total	100	99.99	99.99	100

 

TECHNICAL RATING

Very Bullish

CHART  LOWEST ON MARCH 19

THEN CONTINUOUSLY IPWARD

 

Valuation

Market Cap (Rs Cr.)    3,360.46

P/E  124.68

Book Value (Rs)   35.11

Dividend (%) -

Industry P/E  36.69

EPS (TTM)     1.08

P/C 93.51

Price/Book    3.85

Dividend Yield.(%)      -

Face Value (RS)   2

STRENGHTS

• High Piotroski Score - Companies with strong financials
• Company with high TTM EPS Growth
• RoCE improving in last 2 years
• Growth in Net Profit with increasing Profit Margin (QoQ) and YoY
• Company with Low Debt
• Book Value per share Improving for last 2 years
• In Q1 FY 21 : Growth in Operating Profit with increase in operating margins (YoY)
• Strong Momentum in Price

WEAKNESSES

• Promoter decreasing their shareholding
• Declining Net Cash Flow : Companies not able to generate net cash
• Companies with High Promoter Pledge