GUJARAT THEMIS BIOSYN LTD - Q2 FY 21 RESULTS REVIEW - DT 17 11 2020

 

GUJARAT THEMIS BIOSYN LTD

Q2 FY 21 RESULTS REVIEW

DT 17 11 2020

 

COMPANY OVERVIEW

 

Gujarat Themis Biosyn Ltd, is a biotech and synthetic product manufacturing company.

The company's principal activity is to manufacture and distributes pharmaceuticals bulk drugs called rifampicin produced by fermentation process.

The company`s products include preparations of active pharmaceutical ingredient rifampicin and lovastatin.

The company exports its products to Europe and the United States.

MANAGEMENT                              

Dinesh S Patel                   Chairman & Non- 

                                       Exe.Director         

Sachin D Patel                   Promoter Non-

                                        Exe.Director             

 

QUARTERLY RESULTS :

Gujarat Themis Biosyn (in Rs. Cr.)	Sep '20	Jun '20	Mar '20	Dec '19	Sep '19	YOY	QOQ
Net Sales	27.2	15.66	26.35	30.6	16.47	65.15	73.69
Raw Materials	6.28	4.74	5.01	0.1	0.07	8871.43	32.49
Traded Goods	--	--	--	5.89	4.29
Increase/Decrease in Stocks	-4.65	-4.56	-1.61	-0.87	-1.63	185.28	1.97
Power & Fuel	--	--	5.12	--	--
Employees Cost	1.89	1.68	1.78	1.78	1.48	27.7	12.5
depreciation	0.34	0.34	0.39	0.34	0.31	9.68	0
Other Expenses	8.93	7.21	2.83	8.75	10.3	-13.3	23.86
Total Expenditure	12	9	13	15	14	-14.29	33.33
P/L Before Other Inc. , Int., Excpt. Items & Tax	14.4	6.25	12.83	14.6	1.64	778.05	130.4
Other Income	0.95	0.86	0.29	0.17	0.55	72.73	10.47
P/L Before Int., Excpt. Items & Tax	15.35	7.11	13.12	14.77	2.19	600.91	115.89
Interest	0.28	0.23	0.3	0.27	0.22	27.27	21.74
P/L Before Tax	15.07	6.88	12.82	14.5	1.97	664.97	119.04
Tax	3.72	1.31	1.87	4.79	0.37	905.41	183.97
Net Profit	11.35	5.57	10.95	9.71	1.6	609.38	103.77
Equity Share Capital	7.26	7.26	7.26	7.26	7.26	0	0
Basic EPS	7.81	3.84	7.54	6.68	1.1	610	103.39

 

Basic EPS      7.81

MP  274.25

PE   8.78

VOLUMES      57,107

52 Wk L/H     41.5    303.8

   

TECHNICAL RATINGS     

BULLISH

 

Annual Results	Mar-20	Mar-19	Mar-18	Mar-17	Mar-16
Sales	85	41	38	35	32
Other Income	1	2	0	0	0
Total Income	86	43	38	36	32
Total Expenditure	54	34	33	30	27
EBIT	32	8	5	5	5
Interest	0	0	0	0	0
Tax	7	1	0	0	0
Net Profit	23	6	3	4	4

 

cash flows	Mar-20	Mar-19	Mar-18	Mar-17	Mar-16
Operating Activities	0	0	5	2	3
Investing Activities	-2	-5	-1	-2	0
Financing Activities	2	5	-3	0	-3
Others	0	0	0	0	0
Net Cash Flow	0	0	0	0	0

 

Per Share Ratios	Mar-20	Mar-19	Mar-18	Mar-17	Mar-16
Basic EPS (Rs.)	16.3	4.41	2.66	3.01	3.19
Diluted Eps (Rs.)	16.3	4.41	2.66	3.01	3.19
Book Value [Excl. Reval Reserve]/Share (Rs.)	29.04	12.75	8.34	5.65	2.65
Dividend/Share (Rs.)	1.65	0	0	0	0
Face Value	5	5	5	5	5
Margin Ratios	Mar-20	Mar-19	Mar-18	Mar-17	Mar-16
Gross Profit Margin (%)	39.4	23.25	16.5	17.96	19.07
Operating Margin (%)	37.8	20.28	13.54	14.83	15.4
Net Profit Margin (%)	27.81	15.61	9.96	12.26	14.18
Return Ratios	Mar-20	Mar-19	Mar-18	Mar-17	Mar-16
Return on Networth / Equity (%)	56.1	34.6	31.93	53.31	120.43
ROCE (%)	68.85	41.74	41.8	55.53	86.33
Return On Assets (%)	36.94	19.56	18.87	20.42	31.5
Leverage Ratios	Mar-20	Mar-19	Mar-18	Mar-17	Mar-16
Debt to Equity (x)	0.08	0	0	0.23	0.3
Interest Coverage Ratios (%)	34.85	64.24	12.58	12.96	13.31
Growth Ratios	Mar-20	Mar-19	Mar-18	Mar-17	Mar-16
3 Yr CAGR Sales (%)	33.61	7.96	7.26	5.69	4.76
3 Yr CAGR Net Profit (%)	75.49	11.45	-5.53	-1.12	62.9

 

historical prices	THEN
3YR BEF	48
2	34.5
1	46.75
3MONTH	180.7
1MONTH	257.5
1 WEEK	255.95
NOW	275

 

ype	Dividend%	Ex-Dividend date
Final	33	Sep 10, 2020

 

Share Holding Pattern in (%)
Standalone	Sep-20	Mar-20	Dec-19	Sep-19
Promoters	74.99	74.99	74.99	74.99
Pledged	0	0	0	0
FII/FPI	0	0	0	0
Total DII	3.2	3.44	3.02	3.04
Fin.Insts	0.01	0.01	0.03	0.01
Insurance Co	0	0	0	0
MF	0.02	0.02	0.02	0.02
Others DIIs	3.17	3.41	2.97	3.01
Others	21.8	21.56	21.98	21.96
Total	99.99	99.99	99.99	99.99

 

ANNUAL REPORT 2019-20

                                 EXTRACTS

 

Message from Chairman:

Dear Stakeholders,

This year marks a year of transformation for our Company which has resulted in a significant improvement in the financial performance of the Company.

This was possible only because of the immense contribution made by its promoter, viz. Themis Medicare Limited (Themis) who have done a lot of study in the market, identified the customer, conducted negotiations and ensured that business is channelized from them to the Company.

We  commercialised production of Rifamycin O in September 2019 on the basis of technical input provided by Themis.

This second milestone - So far, we have been manufacturing our products through contract manufacturing. We have now changed our business model to manufacture and sales.

We have been able to move from contract manufacturing to manufacture and sales model only due to continued efforts of our team and support from Themis.

Moving to FY20 financials, I would like to share that our Company recorded an increase in sales of 107.37 % from Rs. 41.05 cr in FY19 to Rs. 85.12 cr in FY20.

The EBIDTA also shows a drastic improvement of 334.21% to Rs 31.84 cr, due to increase in revenue. The Company registered 269% increase in net profit from Rs. 6.41 cr in FY19 to Rs. 23.67 cr in FY20.

Sr.No     Particulars           2019-20 2018-19

1     Debtors Turnover ( in days)      87          52

2 Inventory Turnover (in days)        195        94

3     Interest Coverage Ratio            36.77     83.70

4     Current Ratio                            3.81       1.40

5     Debt Equity Ratio                      0.19       0.32

6     Operating Profit Margin (%)      38%       20%

7     Net Profit Margin (%)               37%       20%

 

8. Return on net worth (%)              56%       35%