Morepen Laboratories Ltd.
Snapshot View

41.40 +0.35 ▲0.9%

20 May 2022, 04:01:00 PM
Volume: 227,363

Overview View Details

Sector Healthcare Compare with Sector peers
Industry Pharmaceuticals & Drugs Compare with Industry peers
Website http://www.morepen.com
Market Cap 2,071.55 Cr.
Enterprise Value(EV) 2,039.16 Cr. 2022-03
Financial Indicators
Earnings per share (EPS) 2.04 Trailing Twelve Months Ending 2022-03
Price-Earning Ratio (PE) 20.32 Trailing Twelve Months Ending 2022-03
Industry PE 29.26 Trailing Twelve Months Ending 2022-03
Book Value / Share 13.89 Trailing Twelve Months Ending 2022-03
Price to Book Value 2.98 Calculated using Price: 41.40
Dividend Yield 0.00 Period Ending 2021-03
No. of Shares Subscribed 49.92 Cr. 499,168,708 Shares
FaceValue 2
Company Profile

Established in the year 1984, Morepen Laboratories is a fast growing Pharmaceutical company listed in all major stock exchanges in India including Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) since 1993 with an investors base of 62,400 shareholders.

Morepen has steadily grown from a single product company to a multi activity company with a global vision and satisfied customers in over 50 countries. It has resources of international standing; USFDA approved manufacturing facility for API at Masulkhana (Himachal Pradesh), adhering to the most stringent standards of quality excellence. In addition to this state-of-the-art finished dosage and API plants at Parwanoo and Baddi (Himachal Pradesh) have the latest cGMP guidelines, and their Quality Systems, Technical Product Information and Documentation processes etc., are in perfect line to meet the regulatory requirements for Exports to various countries.

Morepen has a progressive lineage of manufacturing high quality generic drugs and Pharmaceutical formulations backed by a strong R&D, Regulatory and global marketing team. Morepen aims to provide sufficient visibility to its products and direct its business portfolio to the high value DMFs and ANDA driven International Export Business. Apart from leveraging its traditional strength in APIs, the Company is now concentrating on finished formulations in both regulated and non-regulated markets.

Morepen today is the largest producer of Loratadine in the World and presently has, over 90% market share of generic Loratadine in the US market other than the Innovator by supplying the bulk drug to top class customers like Novartis, Merck etc. Morepen is the approved global supplier to these companies. By successfully complying with USFDA standards, Morepen has further cleared the decks for other product entries in the world market. While catering to a growing list of customers across regulatory markets in the US, Canada, Europe etc, Morepen has already successfully introduced new products like Atorvastatin, Fluvastatin, Montelukast and Fexofenadine, while in the R&D pipeline are products like Pioglitazone, Moxifloxacin and Gatifloxacin. Exports of these molecules contributes about 75-80% of Morepen's turnover.

The R&D center at Masulkhana, Parwanoo and Baddi is well equipped and hi-technology based with over 40 scientists working on various projects primarily for new innovative non-infringing processes and development of cost effective proprietary technologies. The company has filed 14 patents in last three years including 6 international PCT applications. Morepen has recently filed an international patent on a new amorphous form of the cholesterol-reducing drug Lipitor (Atorvastatin) that is the largest selling drug in the world.

On the domestic side, Morepen has a large distribution base all over India, with company warehouses in all states and strong Sales and Marketing teams with more than 300 experienced people. Morepen associates with app. 80000 doctors and over 100000 pharmacies for its pharmaceutical products and has presence in over 200,000 retail outlets for its health products (OTC). Morepen was the first company to emphasize the need for Self-health in the country and thus created a brand 'Dr. Morepen'. Morepen also has tie-ups with several international diagnostics giants like Beurer of Germany, Diamed AG of Switzerland, Hemocue of Sweden & Menarini of Italy for exclusive marketing and servicing in India. Morepen had also acquired two brands and a chain of Health and Beauty stores- Lifespring. Expansion plans for opening new stores is on with a clear strategy to be present in every locality.

Product range of the company include:

  • Active Pharmaceutical Ingredient (API)- Loratadine, Desloratadine, Atorvastatin Crystalline, Zafirlukast, Venlafaxine, Ramipril, Bupropipion, Aripiprazole, Telmisartan, Pregabalin, Ezetimibe, etc.
  • Intermediates- Montelukast, Atorvastatin, Loratadine, Fexofenadine, Carvidilol, Lamotrigine, Venlafaxine, Cisapride, Irbesartan, Sildenafil, etc.
  • Finished Dosages- Tablets- total 121 tablets are being manufactured by the company such as Acarbose Tablets 25, Acifix Frutabs, Alpaz, Aspirin tablets, Claridin, Eccite, Folic Acid 5, Gastropen, Orvastin, Paracetamol, etc.

Different divisions of the company

  • Keeping in line with Morepen's commitment to healthier future for all, The company has taken another step to come closer to the consumers with the launch of 'Dr. Morepen', a range of self health products. MLL has now entered the Fast Moving Health Goods (FMHG) market. Dr. Morepen is envisaged as a forward looking, futuristic, lifestyle driven brand that empowers the modern customers to be in charge of their own health and live life without any stops.
  • Recognizing the requirement of innovative and technologically advanced diagnostic products in India, Morepen created a new entity for marketing of medical devices and clinical diagnostic products – “MEDIPATH”. Thus offering the consumers a host of world-class products with promise of a reliable nation wide after sales and technical backup.

Morepen has tied up with DrugMax Inc of USA to form Morepenmax. Following the formation, Morepen will convert its high value bulk drugs to dosage forms for further value addition and would also outsource blockbuster drugs to manufacture dosage forms for US Market. MorepenMax also has plans to file ANDA for few of its drugs.

Subsidiary

Doctor Morepen Limited, an umbrella brand symbolizing dynamism and liveliness that aims at targeting individuals constantly on the move is a 100% subsidiary of Morepen Laboratories Limited.

Recent developments

Morepen Laboratories Limited had announced that the securities of the company have been de-listed from Ahmedabad Stock Exchange Ltd (ASE), with effect from March 30, 2009.

Delivery View Details

Delivered Qty
Traded Qty

Performance View Details

1 Day
+0.85%
1 Week
+5.61%
1 Month
-19.77%
3 Month
-4.61%
6 Month
-13.21%
1 Year
-28.00%
2 Year
+158.75%
5 Year
+94.82%
10 Year
+1312.97%
9 years 2013-03 2014-03 2015-03 2016-03 2017-03 2018-03 2019-03 2020-03 2021-03
Return on Equity (%) -10.77 -1.54 1.24 7.35 12.54 14.10 12.04 12.50 29.20
Return on Capital Employed (%) -2.09 1.80 2.90 6.29 10.18 14.05 10.01 12.05 27.13
Return on Assets (%) -3.90 -0.55 0.44 2.53 4.45 5.30 4.80 5.25 12.76

Balance Sheet View Details

Particulars 10 years 2013-03 Rs. Cr. 2014-03 Rs. Cr. 2015-03 Rs. Cr. 2016-03 Rs. Cr. 2017-03 Rs. Cr. 2018-03 Rs. Cr. 2019-03 Rs. Cr. 2020-03 Rs. Cr. 2021-03 Rs. Cr. 2022-03* Rs. Cr.
Shh. Funds 300 297 287 300 196 226 253 284 425 579
Non Curr. Liab. 104 85 74 57 18 20 23 28 30 35
Curr. Liab. 103 108 128 167 325 340 339 351 404 456
Minority Int. 0 0 0 -1 -1 0 0 0 0 0
Equity & Liab. 506 490 489 524 538 586 615 663 858 1,070
Non Curr. Assets 415 393 374 367 346 342 316 291 331 336
Curr. Assets 91 96 115 157 192 243 299 372 527 734
Misc. Exp. not W/O
Total Assets 506 490 489 524 538 586 615 663 858 1,070

Profit Loss View Details

Particulars 10 years 2013-03 Rs. Cr. 2014-03 Rs. Cr. 2015-03 Rs. Cr. 2016-03 Rs. Cr. 2017-03 Rs. Cr. 2018-03 Rs. Cr. 2019-03 Rs. Cr. 2020-03 Rs. Cr. 2021-03 Rs. Cr. 2022-03 Rs. Cr. TTM
Net Sales 326 367 401 485 595 607 769 853 1,188 1,547
Other Income 3 1 1 1 4 4 4 9 12 10
Total Income 329 368 402 486 599 610 772 863 1,200 1,557
Total Expenditure -295 -318 -352 -424 -534 -542 -701 -785 -1,070 -1,410
PBIDT 34 50 50 63 65 68 71 78 131 147
Interest -12 -10 -9 -11 -8 -4 -2 -2 -2 7
Depreciation -46 -46 -39 -35 -34 -34 -40 -37 -30 -28
Taxation 0 0 0 0 0 -6 -1 -25
Exceptional Items 3 3 -4
PAT -21 -3 2 13 24 30 29 34 97 102
Minority Interest 0 0 0
Share Associate
Other Related Items
Consolidated Net Profit -21 -3 2 13 24 30 29 34 97 102
Adjusted EPS 0 0 0 0 1 1 1 1 2 2

Cash Flow View Details

Particulars 10 years 2012-03 Rs. Cr. 2013-03 Rs. Cr. 2014-03 Rs. Cr. 2015-03 Rs. Cr. 2016-03 Rs. Cr. 2017-03 Rs. Cr. 2018-03 Rs. Cr. 2019-03 Rs. Cr. 2020-03 Rs. Cr. 2021-03 Rs. Cr.
Cash Fr. Operatn. 27 34 34 51 50 41 63 17 11 51
Cash Fr. Inv. -3 -3 -1 -32 -27 -14 -27 -13 -12 -70
Cash Fr. Finan. -22 -30 -29 -19 -27 -24 -38 0 5 47
Net Change 2 1 4 0 -4 3 -1 4 4 28
Cash & Cash Eqvt 5 6 9 9 4 7 6 10 14 41

Shareholding Pattern View Details

9 Qtrs 2020-03 (%) 2020-06 (%) 2020-09 (%) 2020-12 (%) 2021-03 (%) 2021-06 (%) 2021-09 (%) 2021-12 (%) 2022-03 (%)
Promoter 34.54 34.54 34.54 34.54 34.54 34.54 34.54 34.54 38.38
Public 65.46 65.46 65.46 65.46 65.46 65.46 65.46 65.46 61.62
Depository Receipts 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Promoter Holding Pledge (%) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Announcements View Details

Fri, 20 May 2022
Disclosure Of Related Party Transactions Pursuant To Regulation 23(9) Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015
Pursuant to Regulation 23(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 as amended in connection to declaration of audited Standalone and Consolidated Financial Results for the quarter and financial year ended 31st March 2022 on 5th May 2022 please find enclosed disclosure of Related Party Transactions for half yearended 31st March 2022 (i.e. from 1st October 2021 to 31st March 2022).
Wed, 18 May 2022
Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate
Pursuant to the Regulation 39(3) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015 as amended please find attached herewith letter dated 17th May 2022 received from Registrar and Share Transfer Agent (viz. Mas Services Limited) of the company comprising information related to issue of duplicate share certificates of the company. In compliance with SEBI Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/8 dated January 25 2022 the Company has issued Letter(s) of Confirmation to the respective shareholders.
Wed, 11 May 2022
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
Please find attached transcript of Investors and Analyst Conference Call organized on Friday 6th May 2022 at 04.00 P.M. (IST) subsequent to declaration of audited standalone and consolidated financial results for the quarter and financial year ended 31st March 2022.

Technical Scans View Details

Fri, 20 May 2022
Close Within 52 Week Low Zone Close Within 52 Week Low Zone
High Decrease 1 Month High Decrease 1 Month
High Increase 2 Years High Increase 2 Years
Thu, 19 May 2022
Closing Below Previous Low Closing Below Previous Low
Close Within 52 Week Low Zone Close Within 52 Week Low Zone

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