Table of Contents

Bafna Pharmaceuticals Ltd

Updated on December 15, 2024

Stock/Share Code - BAFNAPHARM

Bafna Pharmaceuticals is engaged in the business of Manufacturing of Pharmaceuticals.(Source : 201903 Annual Report Page No: 86)

Below is the details of BAFNAPHARM Bafna Pharmaceuticals Ltd

Market Cap	₹8.4 Cr.
Current Price	₹3.55
52 Week High / Low Price	₹14.7 / ₹3.55
Face Value	₹10
Stock P/E
Book Value	₹7.64
Dividend Yield	0.00 %
ROCE	-20.90 %
ROE	-64.34 %
Sales Growth (3yrs)	-20.14 %
Sector	Pharmaceuticals
Industry	Pharmaceuticals - Indian - Formulations
Listed on	BSE AND NSE
Company Website	Company Website

Pros: Stock is trading at 0.46 times its book value

Cons: Company has low interest coverage ratio. Promoter's stake has decreased The company has delivered a poor growth of -24.53% over past five years. Promoter holding is low: 26.36% Company has a low return on equity of -67.83% for last 3 years. Company might be capitalizing the interest cost Promoters have pledged 51.04% of their holding Company has high debtors of 209.02 days.

Bafna Pharmaceuticals Ltd Peer Comparison in Pharmaceuticals

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Qtr Sales Var %	Sales Qtr Rs.Cr.	ROCE %
1.	Ajanta Pharma	₹19.55	22.45	₹8,699.08 Cr.	0.91	₹116.36 Cr.	-6.59	18.13	642.76	23.85
2.		20.38	₹6,338.29 Cr.	0.00	₹92.71 Cr.	8.66	7.81	284.80	26.43
3.	Caplin Point Lab		11.70	₹2,375.18 Cr.	0.70	₹57.27 Cr.	31.66	45.77	227.20	48.53
4.	Bliss GVS Pharma		13.64	₹1,482.58 Cr.	0.70	₹30.98 Cr.	-25.28	-8.02	210.12	26.90
5.	Hester Bios		32.62	₹1,333.11 Cr.	0.70	₹6.52 Cr.	-6.46	3.34	44.20	26.65
6.	Amrutanjan Healt		47.87	₹1,304.86 Cr.	0.48	₹8.4 Cr.	29.43	20.56	74.81	25.42
7.	Medicamen Biotec		30.33	₹374.93 Cr.	0.31	₹3.84 Cr.	7.87	9.33	35.52	20.15
8.	Bafna Pharma.			₹8.4 Cr.	0.00	-₹0.59 Cr.	53.91	30.88	11.57	-20.90

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Bafna Pharmaceuticals Ltd Fundamentals

Quarterly Results

Quarterly reports are issued by companies every three months. Most companies have a financial year-end of Mar. 31 and quarters that end on June 30, Sept. 30, Dec. 31 and March 31.

Standalone Figures in Rs. Crores

	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019
Sales	15.88	15.88	9.10	10.68	10.86	16.52	11.95	8.84	13.07	9.49	6.85	11.57
YOY Sales Growth %	-20.32%	-39.57%	-56.99%	-35.23%	-31.61%	4.03%	31.32%	-17.23%	20.35%	-42.55%	-42.68%	30.88%
Expenses	16.01	16.01	12.18	10.40	10.31	49.36	13.77	8.66	11.90	22.30	9.71	11.95
Material Cost %	87.47%	87.47%	109.45%	72.75%	70.9%	111.8%	92.38%	63.91%	68.17%	94.52%	92.7%	76.58%
Employee Cost %	9.95%	9.95%	17.36%	16.67%	16.76%	13.86%	16.23%	24.66%	16.99%	28.13%	33.72%	21%
Operating Profit	-0.13	-0.13	-3.08	0.28	0.55	-32.84	-1.82	0.18	1.17	-12.81	-2.86	-0.38
OPM %	-0.82%	-0.82%	-33.85%	2.62%	5.06%	-198.79%	-15.23%	2.04%	8.95%	-134.98%	-41.75%	-3.28%
Other Income	0.78	0.78	0.07	0.00	30.26	0.93	0.09	-0.03	0.31	0.28	0.30	0.59
Interest	3.13	3.13	1.97	2.08	1.73	1.02	0.83	0.62	0.46	0.21	0.13	0.04
Depreciation	1.02	1.02	0.93	0.96	0.99	0.77	1.00	0.75	0.90	0.77	1.02	0.72
Profit before tax	-3.50	-3.50	-5.91	-2.76	28.09	-33.70	-3.56	-1.22	0.12	-13.51	-3.71	-0.55
Tax %	1.43%	1.43%	-28.76%	-0.36%	0.00%	-1.39%	1.12%	-4.10%	0.00%	-11.03%	42.59%	-7.27%
Net Profit	-3.44	-3.44	-7.61	-2.77	28.09	-34.17	-3.51	-1.28	0.12	-15.00	-2.13	-0.59
EPS in Rs	-1.85	-1.85	-4.08	-1.48	15.06	-14.44	-1.49	-0.54	0.05	-6.34	-0.90	-0.25
	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes

Profit & Loss

The profit and loss (P&L) statement is a financial statement that summarizes the revenues, costs and expenses incurred during a specified period, usually a fiscal quarter or year. The P&L statement is synonymous with the income statement. These records provide information about a company's ability or inability to generate profit" by increasing revenue, reducing costs or both. Some refer to the P&L statement as a statement of profit and loss, income statement, statement of operations, statement of financial results or income, earnings statement or expense statement.

Standalone Figures in Rs. Crores

	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	TTM
Sales	39.30	45.78	74.38	101.30	123.68	166.77	177.05	100.40	85.12	64.96	45.56	43.36	40.98
Sales Growth %	15.76%	16.49%	62.47%	36.19%	22.09%	34.84%	6.16%	-43.29%	-15.22%	-23.68%	-29.86%	-4.83%	%
Expenses	37.38	41.19	67.10	89.82	105.27	145.80	155.83	118.85	82.31	70.17	80.64	56.69	55.86
Material Cost %	89.39%	77.41%	79.34%	78.36%	72.53%	73.42%	70.42%	84.58%	75.98%	79.93%	84.02%	64.14%	%
Manufacturing Cost %	2.14%	4.94%	4.22%	4.12%	3.66%	2.41%	3.04%	9.21%	7.88%	8.61%	12.45%	16.1%	%
Employee Cost %	1.4%	3.39%	3.16%	3.05%	4.58%	6.36%	7.82%	10.3%	7.57%	10.19%	16.4%	20.78%	%
Other Cost %	2.19%	4.24%	3.5%	3.14%	4.35%	5.24%	6.73%	14.28%	5.27%	9.3%	64.14%	29.73%	%
Operating Profit	1.92	4.59	7.28	11.48	18.41	20.97	21.22	-18.45	2.81	-5.21	-35.08	-13.33	-14.88
OPM %	4.89%	10.03%	9.79%	11.33%	14.89%	12.57%	11.99%	-18.38%	3.30%	-8.02%	-77.00%	-30.74%	-36.31%
Other Income	0.30	1.45	0.78	0.62	0.92	3.03	1.40	42.25	1.24	1.14	31.26	0.65	1.48
Interest	0.57	2.06	2.32	4.30	8.13	11.23	12.07	12.48	12.47	11.34	6.81	2.13	0.84
Depreciation	0.35	1.37	1.74	2.77	5.84	7.59	8.32	5.24	4.11	3.89	3.65	3.42	3.41
Profit before tax	1.30	2.61	4.00	5.03	5.36	5.18	2.23	6.08	-12.53	-19.30	-14.28	-18.23	-17.65
Tax %	7.69%	59.00%	38.00%	33.40%	61.38%	25.10%	39.91%	-0.49%	2.71%	4.35%	-15.27%	-8.23%
Net Profit	1.20	1.07	2.48	3.35	2.07	3.88	1.34	6.11	-12.18	-18.47	-16.45	-19.73	-17.60
EPS in Rs		0.67	1.55	1.92	1.13	1.98	0.72	3.27	0.00	0.00	0.00	0.00	-7.44
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	28.86%	0.00%	0.00%	-0.00%	-0.00%	-0.00%	-0.00%

Compounded Sales Growth

10 Years:: -0.54%
5 Years:: -24.53%
3 Years:: -20.14%
TTM:: -14.93%

Compounded Profit Growth

3 Years:: -27.56%
TTM:: -61.91%

Return on Equity

10 Years:: -20.39%
5 Years:: -36.43%
3 Years:: -51.59%
1 Year:: -72.16%

Balance Sheet

A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure. It is a financial statement that provides a snapshot of what a company owns and owes, as well as the amount invested by shareholders. It is used alongside other important financial statements such as the income statement and statement of cash flows in conducting fundamental analysis or calculating financial ratios.

Standalone Figures in Rs. Crores

	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Sep 2019
Share Capital	9.58	15.98	15.98	17.48	18.38	18.66	18.66	18.66	18.66	18.66	23.66	23.66	23.66
Equity Capital	9.58	15.98	15.98	17.48	18.38	18.66	18.66	18.66	18.66	18.66	23.66	23.66	23.66
Reserves	2.27	22.54	25.02	33.97	39.64	45.66	50.12	52.97	40.79	22.32	16.87	-2.86	-5.58
Borrowings	24.80	23.91	29.80	51.04	80.65	91.04	99.34	63.70	80.48	82.38	46.54	46.23	47.00
Other Liabilities	14.48	15.40	13.33	33.13	68.68	87.58	54.47	49.93	45.00	43.79	40.44	53.61	57.39
Trade Payables	12.86	12.98	9.84	25.48	53.1	72.09	39.48	34.65	29.93	23.4	27.82	39.42	44.61
Total Liabilities	51.13	77.83	84.13	135.62	207.35	242.94	222.59	185.26	184.93	167.15	127.51	120.64	122.47
Fixed Assets	2.34	33.70	32.13	33.38	69.82	66.40	62.93	48.63	46.99	43.32	39.94	37.02	35.65
Gross Block	4.42	37.15	37.32	40.84	81.64	83.35	85.1	70.14	72.44	72.41	72.54	72.87
Accumulated Depreciation	2.08	3.45	5.19	7.46	11.82	16.96	22.16	21.51	25.44	29.09	32.6	35.85
CWIP	29.76	3.19	6.39	13.66	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	1.43	1.43	1.43	18.33	18.33	18.33	1.43	1.43	1.43
Other Assets	19.03	40.94	45.61	88.58	136.10	175.11	158.23	118.30	119.61	105.50	86.14	82.19	85.39
Inventories	5.37	4.66	9.34	14.75	22.58	21.05	26.72	15.33	16.35	16.74	10.67	9.28	11.18
Trade receivables	10.09	24.26	20.33	34.98	81.63	85.47	93.1	83.36	67.89	53.7	24.28	24.83	27.17
Cash Equivalents	1.19	2.03	1.84	11.78	2.3	20.72	2.47	2.45	2.7	2.66	2.7	2.7	2.46
Loans n Advances	2.12	7.96	12.59	25.85	25.18	40.08	26.7	16.29	31.95	3.75	10.63	11.42	32.27
Other Assets etc	0.26	2.03	1.51	1.22	4.41	7.79	9.24	0.87	0.72	28.65	37.86	33.96	12.31
Total Assets	51.13	77.83	84.13	135.62	207.35	242.94	222.59	185.26	184.93	167.15	127.51	120.64	122.47

Cash Flows

Cash flow is the net amount of cash and cash-equivalents being transferred into and out of a business. At the most fundamental level, a company’s ability to create value for shareholders is determined by its ability to generate positive cash flows, or more specifically, maximize long-term free cash flow.

Standalone Figures in Rs. Crores

	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019
Cash from Operating Activity	-2.09	-13.98	-0.59	-6.35	27.56	35.40	0.76	9.47	-2.97	13.70	-7.10	-1.10
Profit from operations	2.18	5.8	8.34	11.52	15.31	20.97	21.21	-18.45	2.82	-10.33	-34.18	-12.81
Working Capital Changes	-4.16	-19.48	-8.43	-17.09	13.3	15.29	-20.02	30.18	-5.79	24.03	27.09	11.71
Taxes paid	-0.11	-0.3	-0.5	-0.78	-1.05	-0.86	-0.43	-2.26	0	0	0	0
Cash from Investing Activity	-6.89	-5.54	-3.17	-10.50	-36.52	-5.70	-4.90	56.43	-1.09	-8.30	37.79	3.53
Fixed Assets Purchased	-0.2	-32.74	-0.17	-3.51	-27.14	-1.72	-1.75	-7.72	-2.29	-0.08	-0.13	-0.33
Fixed Assets Sold	0	0	0	0	0	0	0	0	0	6.07	46.94	0
Capital WIP	-0.62	17.74	-3.2	-7.27	0	0	0	0	0	0	0	0
Investments sold	0	0	0	0	0	0	0	56.2	0	0	0	0
Cash from Financing Activity	8.40	20.36	3.57	26.79	-0.51	-11.29	-14.11	-65.92	4.31	-5.43	-30.65	-2.44
Proceeds from Shares	1.52	25.6	0	9.84	7.63	0.97	0	0	0	0	0	0
Proceeds from Borrowings	7.68	0	7.06	21.29	0	0.26	0.05	0	24.78	3.84	0	0
Repayment of Borrowings	0	-0.89	-1.17	-0.04	0	0	-2.1	-36.54	-8	-1.93	-35.84	-0.31
Interest Paid	-0.57	-2.06	-2.32	0	-8.14	-11.22	-12.06	-12.48	-12.47	-11.34	-6.81	-2.13
Dividends Paid	0	0	0	-4.3	0	-1.3	0	0	0	0	0	0
Net Cash Flow	-0.58	0.84	-0.19	9.94	-9.47	18.41	-18.25	-0.02	0.25	-0.04	0.05	0.00

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Ratios

	Mar 2008	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019
ROCE %	6.29%	9.43%	9.49%	10.77%	11.30%	9.54%	8.84%	-13.09%	-0.04%	-6.05%	-35.65%	-20.90%
Debtor Days	93.71	193.42	99.76	126.04	240.90	187.06	191.93	303.05	291.12	301.73	194.52	209.02
Inventory Turnover	6.59	9.13	10.63	8.41	6.63	7.64	7.41	4.78	5.37	3.93	3.32	4.35

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All efforts have been made to ensure the information provided here is accurate as per time to time filling by company to exchanges. However, no guarantees are made regarding correctness of data. Investors are advised to validate/check information with exchanges or companies website before making any investment decisions.

Shepard Technologies Pvt. Ltd : 1808, Solus, Hiranandani Estate, Thane, Maharashtra - 400607

AMFI Registration No. 112358 | CIN: U74999MH2016PTC282153

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