Income Statement Morepen Laboratories Limited

Stocks

MOREPENLAB

INE083A01026

Pharmaceuticals

Market Closed - Bombay S.E. 06:26:04 2026-08-28 EDT			5-day change	1st Jan Change
106.21 ^INR	+9.93%		+10.64%	+158.61%

08-05	Morepen Laboratories Limited announces Annual dividend, payable on October 26, 2026	CI
08-04	Morepen Laboratories Limited Reports Earnings Results for the First Quarter Ended June 30, 2026	CI

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Published financial data: MOREPEN LABORATORIES LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021 (INR)	2022 (INR)	2023 (INR)	2024 (INR)	2025 (INR)
Revenues	11.75B	15.47B	14.18B	16.9B	18.12B
Other Revenues, Total	226M	89.77M	44.76M	115M	-
Total Revenues	11.98B	15.56B	14.22B	17.02B	18.12B
Cost of Goods Sold, Total	7.81B	10.61B	9.75B	10.86B	11.85B
Gross Profit	4.17B	4.95B	4.47B	6.16B	6.26B
Selling General & Admin Expenses, Total	1.36B	1.72B	1.65B	1.94B	2.12B
Depreciation & Amortization - (IS)	303M	276M	279M	335M	290M
Other Operating Expenses	1.53B	1.77B	1.98B	2.52B	2.4B
Other Operating Expenses, Total	3.19B	3.77B	3.91B	4.8B	4.81B
Operating Income	982M	1.18B	561M	1.37B	1.45B
Interest Expense, Total	-17.88M	-24.26M	-19.81M	-37.1M	-77.85M
Interest And Investment Income	21.34M	13.3M	16.57M	25.04M	48.15M
Net Interest Expenses	3.46M	-10.96M	-3.23M	-12.06M	-29.7M
Currency Exchange Gains (Loss)	-	-	-	-	103M
Other Non Operating Income (Expenses)	-	97.92M	-	-	26.97M
EBT, Excl. Unusual Items	985M	1.27B	558M	1.35B	1.55B
Impairment of Goodwill	-	-	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	985M	1.27B	558M	1.35B	1.55B
Income Tax Expense	14.22M	250M	171M	388M	371M
Earnings From Continuing Operations	971M	1.02B	387M	966M	1.18B
Net Income to Company	971M	1.02B	387M	966M	1.18B
Minority Interest	-41K	14K	-3K	-4.6M	50K
Net Income - (IS)	971M	1.02B	387M	962M	1.18B
Net Income to Common Incl Extra Items	971M	1.02B	387M	962M	1.18B
Net Income to Common Excl. Extra Items	971M	1.02B	387M	962M	1.18B
Per Share Items
Net EPS - Basic	2.16	2.26	0.77	1.88	2.2
Basic EPS - Continuing Operations	2.16	2.26	0.77	1.88	2.2
Basic Weighted Average Shares Outstanding	450M	450M	502M	511M	535M
Net EPS - Diluted	2.15	1.96	0.77	1.88	2.2
Diluted EPS - Continuing Operations	2.15	1.96	0.77	1.88	2.2
Diluted Weighted Average Shares Outstanding	451M	520M	502M	511M	535M
Normalized Basic EPS	1.37	1.76	0.69	1.65	1.81
Normalized Diluted EPS	1.36	1.52	0.69	1.65	1.81
Dividend Per Share	-	-	-	-	0.2
Payout Ratio	0.5	-	-	-	-
American Depositary Receipts Ratio (ADR)	10	10	10	10	10
Supplemental Items
EBITDA	1.23B	1.34B	687M	1.54B	1.62B
EBITA	983M	1.18B	563M	1.37B	1.45B
EBIT	982M	1.18B	561M	1.37B	1.45B
EBITDAR	1.28B	1.42B	794M	1.67B	1.65B
Total Revenues (As Reported)	12B	15.57B	14.24B	17.04B	18.3B
Effective Tax Rate - (Ratio)	1.44	19.75	30.63	28.65	23.91
Total Current Taxes	14.34M	253M	168M	393M	324M
Total Deferred Taxes	-	24.83M	2.03M	-4.36M	47.27M
Normalized Net Income	616M	792M	348M	842M	969M
Interest on Long-Term Debt	4.89M	-	-	-	23.95M
Non-Cash Pension Expense	5.05M	-9.34M	4.22M	2.59M	-2.08M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	56.46M	30.08M	30.69M	51.98M	36.94M
Net Rental Expense, Total	51.4M	81.82M	107M	121M	29.33M
Imputed Operating Lease Interest Expense	5.45M	11.77M	21.49M	132M	27.25M
Imputed Operating Lease Depreciation	45.95M	70.06M	85.91M	-11.6M	2.08M
Maintenance & Repair Expenses, Total	76.97M	118M	192M	233M	261M

Fiscal Period: March	2021 (INR)	2022 (INR)	2023 (INR)	2024 (INR)	2025 (INR)
Assets
Cash And Equivalents	414M	158M	217M	169M	274M
Short Term Investments	-	-	-	-	778M
Trading Asset Securities, Total	-	-	-	-	-
Total Cash And Short Term Investments	414M	158M	217M	169M	1.05B
Accounts Receivable, Total	1.82B	2.51B	2.63B	3.25B	3.25B
Other Receivables	88.3M	31.57M	26.03M	63.51M	23.23M
Notes Receivable	2.74M	3.42M	2.74M	2.24M	4.8M
Total Receivables	1.91B	2.54B	2.66B	3.32B	3.28B
Inventory	1.75B	2.76B	2.29B	2.49B	3B
Prepaid Expenses	11.75M	21.21M	45.3M	101M	691M
Other Current Assets, Total	1.18B	1.86B	2.35B	2.82B	3.58B
Total Current Assets	5.27B	7.34B	7.56B	8.89B	11.59B
Gross Property Plant And Equipment	5.02B	4.77B	5.13B	4.99B	6.46B
Accumulated Depreciation	-3.71B	-3.17B	-3.29B	-2.61B	-2.76B
Net Property Plant And Equipment	1.31B	1.61B	1.84B	2.38B	3.7B
Long-term Investments	10.85M	-	-	13.01M	71.74M
Goodwill	745M	745M	745M	745M	745M
Other Intangibles, Total	208M	307M	255M	197M	720M
Loans Receivable Long-Term	605K	572K	495K	359K	1.43M
Other Long-Term Assets, Total	1.04B	698M	703M	710M	946M
Total Assets	8.58B	10.7B	11.1B	12.93B	17.78B
Liabilities
Accounts Payable, Total	2.09B	2.58B	2.27B	2.95B	3.63B
Accrued Expenses, Total	202M	207M	250M	291M	279M
Short-term Borrowings	153M	161M	232M	235M	460M
Current Portion of Long-Term Debt	1.21B	1.16B	10.51M	21.44M	75.99M
Current Portion of Leases	-	-	-	-	122M
Current Income Taxes Payable	39.67M	102M	79.6M	166M	101M
Unearned Revenue Current, Total	-	-	-	-	-
Other Current Liabilities	349M	356M	370M	356M	335M
Total Current Liabilities	4.04B	4.56B	3.21B	4.02B	5.01B
Long-Term Debt	8.28M	13.21M	9.34M	33.64M	258M
Long-Term Leases	-	-	-	-	135M
Pension & Other Post Retirement Benefits	188M	209M	226M	266M	299M
Deferred Tax Liability Non Current	-	24.83M	26.86M	22.5M	69.77M
Other Non Current Liabilities	104M	108M	107M	117M	144M
Total Liabilities	4.34B	4.92B	3.58B	4.46B	5.91B
Preferred Stock Redeemable	-	-	-	-	-
Preferred Stock Convertible	-	-	-	-	-
Total Preferred Equity	-	-	-	-	-
Common Stock, Total	900M	956M	1.02B	1.02B	1.1B
Additional Paid In Capital	1.67B	2.32B	3.7B	3.7B	5.53B
Retained Earnings	547M	1.51B	1.9B	2.86B	4.04B
Comprehensive Income and Other	1.13B	999M	909M	890M	893M
Total Common Equity	4.25B	5.79B	7.53B	8.47B	11.56B
Minority Interest	-4.59M	-4.61M	-4.6M	-	307M
Total Equity	4.24B	5.78B	7.52B	8.47B	11.87B
Total Liabilities And Equity	8.58B	10.7B	11.1B	12.93B	17.78B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	450M	478M	511M	511M	548M
ECS Total Common Shares Outstanding	450M	478M	511M	511M	548M
Book Value / Share	9.44	12.11	14.73	16.57	21.1
Tangible Book Value	3.3B	4.73B	6.53B	7.53B	10.1B
Tangible Book Value Per Share	7.33	9.91	12.77	14.73	18.43
Total Debt	1.37B	1.33B	252M	290M	1.05B
Net Debt	953M	1.17B	34.98M	121M	-928K
Debt Equivalent of Unfunded Proj. Benefit Obligation	276M	311M	363M	401M	442M
Debt Equivalent Oper. Leases	411M	655M	859M	966M	235M
Minority Interest, Total (Incl. Fin. Div)	-4.59M	-4.61M	-4.6M	-	307M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	666M	1.57B	1.27B	1.45B	1.56B
Inventories - Work In Process, Total	437M	358M	386M	374M	586M
Inventories - Finished Goods, Total	624M	795M	591M	625M	800M
Inventories - Others	26.08M	34.9M	44.96M	36.7M	55.88M
Land - (BS)	15.82M	14.33M	14.33M	14.33M	233M
Buildings, Total	793M	814M	909M	996M	1.12B
Machinery, Total	4.19B	3.8B	4.04B	3.74B	4.57B
Full Time Employees	1.51K	1.61K	1.65K	2.15K	1.81K
Accumulated Allowance for Doubtful Accounts (Supple)	51.61M	58.29M	27.54M	29.36M	36.89M

Fiscal Period: March	2021 (INR)	2022 (INR)	2023 (INR)	2024 (INR)	2025 (INR)
Net Income	971M	1.02B	387M	962M	1.18B
Depreciation & Amortization - CF	246M	156M	124M	177M	285M
Amortization of Goodwill and Intangible Assets - (CF)	1.83M	1.85M	1.85M	1.85M	1.86M
Depreciation & Amortization, Total	248M	158M	126M	179M	287M
Amortization of Deferred Charges, Total - (CF)	54.58M	118M	153M	156M	3.12M
Minority Interest in Earnings - (CF)	-41K	14K	-3K	-4.6M	50K
(Gain) Loss From Sale Of Asset	-3K	-3.6M	-	-	1.52M
Asset Writedown & Restructuring Costs	-	-	-	-	-
Other Operating Activities, Total	16.45M	-77.38M	5.01M	23.29M	85.92M
Change In Accounts Receivable	-443M	-687M	-126M	-617M	1.75M
Change In Inventories	-368M	-1.01B	470M	-197M	-514M
Change In Deferred Taxes	-	24.83M	-	-	-
Change in Other Net Operating Assets	29.7M	-123M	-1.93B	233M	-725M
Cash from Operations	508M	-578M	-912M	734M	321M
Capital Expenditure	-218M	-454M	-356M	-714M	-1.24B
Sale of Property, Plant, and Equipment	50K	1.67M	-	532K	506K
Sale (Purchase) of Intangible assets	-186M	-219M	-99.96M	-100M	-902M
Investment in Marketable and Equity Securities, Total	-	15.41M	-	-13.01M	-837M
Other Investing Activities, Total	-300M	340M	-8.92M	-6.44M	-236M
Cash from Investing	-704M	-317M	-465M	-833M	-3.22B
Short Term Debt Issued, Total	39.65M	10.3M	69.83M	14.05M	280M
Long-Term Debt Issued, Total	-	4.93M	-	24.3M	481M
Total Debt Issued	39.65M	15.23M	69.83M	38.35M	761M
Long-Term Debt Repaid, Total	-3.87M	-	-3.88M	-	-
Total Debt Repaid	-3.87M	-	-3.88M	-	-
Issuance of Common Stock	-	-	-	-	1.91B
Preferred Dividends Paid	-4.89M	-	-	-	-
Common & Preferred Stock Dividends Paid	-4.89M	-	-	-	-
Other Financing Activities, Total	442M	623M	1.37B	13.7M	331M
Cash from Financing	473M	639M	1.44B	52.05M	3B
Miscellaneous Cash Flow Adjustments	-	-	-	-	-
Net Change in Cash	277M	-256M	58.63M	-47.21M	104M
Supplemental Items
Cash Interest Paid	12.99M	24.26M	19.81M	37.1M	77.85M
Cash Income Tax Paid (Refund)	14.64M	249M	166M	381M	372M
Levered Free Cash Flow	-281M	-1.44B	-275M	-230M	-2.23B
Unlevered Free Cash Flow	-269M	-1.42B	-263M	-207M	-2.18B
Change In Net Working Capital	782M	1.76B	436M	581M	1.24B
Net Debt Issued / Repaid	35.78M	15.23M	65.95M	38.35M	761M

Fiscal Period: March	2021 (INR)	2022 (INR)	2023 (INR)	2024 (INR)	2025 (INR)
Profitability
Return on Assets	8.06	7.65	3.21	7.1	5.9
Return on Total Capital	12.55	11.59	4.71	10.33	8.36
Return On Equity %	27.43	20.29	5.81	12.08	11.6
Return on Common Equity	27.39	20.27	5.81	12.02	11.78
Margin Analysis
Gross Profit Margin %	34.85	31.8	31.44	36.2	34.57
SG&A Margin	11.32	11.08	11.63	11.37	11.69
EBITDA Margin %	10.27	8.6	4.83	9.08	8.94
EBITA Margin %	8.21	7.6	3.96	8.04	8.02
EBIT Margin %	8.19	7.58	3.94	8.03	8.01
Income From Continuing Operations Margin %	8.1	6.54	2.72	5.68	6.51
Net Income Margin %	8.1	6.54	2.72	5.65	6.51
Net Avail. For Common Margin %	8.1	6.54	2.72	5.65	6.51
Normalized Net Income Margin	5.14	5.09	2.45	4.95	5.35
Levered Free Cash Flow Margin	-2.34	-9.25	-1.93	-1.35	-12.32
Unlevered Free Cash Flow Margin	-2.25	-9.16	-1.85	-1.21	-12.05
Asset Turnover
Asset Turnover	1.57	1.61	1.3	1.42	1.18
Fixed Assets Turnover	9.03	10.65	8.25	8.07	5.96
Receivables Turnover (Average Receivables)	7.35	7.15	5.52	5.75	5.58
Inventory Turnover (Average Inventory)	4.97	4.7	3.86	4.55	4.32
Short Term Liquidity
Current Ratio	1.3	1.61	2.35	2.21	2.32
Quick Ratio	0.58	0.59	0.9	0.87	0.86
Operating Cash Flow to Current Liabilities	0.13	-0.13	-0.28	0.18	0.06
Days Sales Outstanding (Average Receivables)	49.63	51.04	66.16	63.67	65.45
Days Outstanding Inventory (Average Inventory)	73.37	77.6	94.48	80.48	84.46
Average Days Payable Outstanding	85.1	73.36	95.38	86.4	97.15
Cash Conversion Cycle (Average Days)	37.9	55.28	65.26	57.75	52.76
Long Term Solvency
Total Debt/Equity	32.22	23.04	3.34	3.42	8.85
Total Debt / Total Capital	24.37	18.73	3.24	3.31	8.13
LT Debt/Equity	0.2	0.23	0.12	0.4	3.31
Long-Term Debt / Total Capital	0.15	0.19	0.12	0.38	3.04
Total Liabilities / Total Assets	50.56	45.97	32.24	34.49	33.25
EBIT / Interest Expense	54.9	48.64	28.31	36.82	18.64
EBITDA / Interest Expense	68.78	55.16	34.67	41.64	22.32
(EBITDA - Capex) / Interest Expense	56.59	36.43	16.68	22.4	6.39
Total Debt / EBITDA	1.11	1	0.37	0.19	0.6
Net Debt / EBITDA	0.77	0.88	0.05	0.08	-0
Total Debt / (EBITDA - Capex)	1.35	1.51	0.76	0.35	2.11
Net Debt / (EBITDA - Capex)	0.94	1.33	0.11	0.15	-0
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	39.57	29.87	-8.6	19.68	7.17
Gross Profit, 1 Yr. Growth %	41.55	20.73	-9.64	37.82	3.56
EBITDA, 1 Yr. Growth %	66.65	4.18	-52.86	83.9	2.1
EBITA, 1 Yr. Growth %	124.23	13.86	-56.73	91.05	3.08
EBIT, 1 Yr. Growth %	166.02	20.21	-52.48	143.63	15.93
Earnings From Cont. Operations, 1 Yr. Growth %	189.14	4.73	-61.96	149.82	22.14
Net Income, 1 Yr. Growth %	189.13	4.73	-61.96	148.63	22.73
Normalized Net Income, 1 Yr. Growth %	151.84	28.63	-56	141.56	15.18
Diluted EPS Before Extra, 1 Yr. Growth %	188.01	-8.84	-60.71	144.16	17.02
Accounts Receivable, 1 Yr. Growth %	32.18	37.73	5.03	23.43	-0.05
Inventory, 1 Yr. Growth %	26.61	57.34	-17.03	8.61	20.66
Net Property, Plant and Equip., 1 Yr. Growth %	-2.12	22.52	14.44	29.15	55.83
Total Assets, 1 Yr. Growth %	29.34	24.69	3.78	16.45	37.5
Tangible Book Value, 1 Yr. Growth %	63.3	43.67	37.92	15.34	34.08
Common Equity, 1 Yr. Growth %	49.53	36.21	30.13	12.53	36.47
Cash From Operations, 1 Yr. Growth %	361.33	-213.64	51.35	-180.48	-56.31
Capital Expenditures, 1 Yr. Growth %	30.82	108.47	-21.62	100.39	73.76
Levered Free Cash Flow, 1 Yr. Growth %	63.3	412.96	-80.9	-17.46	641.65
Unlevered Free Cash Flow, 1 Yr. Growth %	68.99	428.61	-81.56	-22.33	686.07
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	24.62	34.63	8.95	4.59	12.87
Gross Profit, 2 Yr. CAGR %	24.86	29.52	4.45	11.6	18.35
EBITDA, 2 Yr. CAGR %	32.21	34.66	-26.89	2.99	38.85
EBITA, 2 Yr. CAGR %	63.37	64.16	-26.38	2.58	42.43
EBIT, 2 Yr. CAGR %	79.49	78.83	-24.42	7.6	60.85
Earnings From Cont. Operations, 2 Yr. CAGR %	83.48	74.02	-36.89	-2.52	74.68
Net Income, 2 Yr. CAGR %	83.45	74.02	-36.88	-2.75	74.69
Normalized Net Income, 2 Yr. CAGR %	83.68	79.98	-24.77	3.1	66.8
Diluted EPS Before Extra, 2 Yr. CAGR %	83.29	62.04	-40.16	-2.06	69.03
Accounts Receivable, 2 Yr. CAGR %	16.65	34.92	20.27	13.86	11.07
Inventory, 2 Yr. CAGR %	36.42	41.14	14.26	-5.07	14.48
Net Property, Plant and Equip., 2 Yr. CAGR %	-5.63	9.51	18.41	21.57	41.86
Total Assets, 2 Yr. CAGR %	18.11	27	13.76	9.93	26.54
Tangible Book Value, 2 Yr. CAGR %	41.64	53.17	40.77	26.13	24.36
Common Equity, 2 Yr. CAGR %	29.55	42.71	33.14	21.01	23.92
Cash From Operations, 2 Yr. CAGR %	71.05	128.96	33.93	10.36	-40.7
Capital Expenditures, 2 Yr. CAGR %	60.09	65.15	27.83	25.33	86.6
Levered Free Cash Flow, 2 Yr. CAGR %	116.1	189.43	-1.01	-60.04	183.03
Unlevered Free Cash Flow, 2 Yr. CAGR %	139.68	198.88	-1.28	-61.9	186.36
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	25.22	26.35	18.33	12.42	5.2
Gross Profit, 3 Yr. CAGR %	20.89	22.7	14.87	14.56	8.17
EBITDA, 3 Yr. CAGR %	21.64	23.9	-2.38	6.35	3.6
EBITA, 3 Yr. CAGR %	38.45	47.47	8.66	9.64	3.77
EBIT, 3 Yr. CAGR %	42.38	57.04	14.97	11.65	7.13
Earnings From Cont. Operations, 3 Yr. CAGR %	48.3	52.2	4.82	-0.16	5.09
Net Income, 3 Yr. CAGR %	48.59	52.18	4.82	-0.32	5.09
Normalized Net Income, 3 Yr. CAGR %	49.49	63.11	12.54	10.99	6.98
Diluted EPS Before Extra, 3 Yr. CAGR %	48.4	45.22	1.04	-4.37	3.93
Accounts Receivable, 3 Yr. CAGR %	14.31	23.29	24.12	21.32	9.02
Inventory, 3 Yr. CAGR %	31.62	43.07	18.24	12.34	2.83
Net Property, Plant and Equip., 3 Yr. CAGR %	-8.69	2.95	11.13	21.89	32.06
Total Assets, 3 Yr. CAGR %	13.57	20.26	18.73	14.65	18.45
Tangible Book Value, 3 Yr. CAGR %	34.96	42.31	47.91	31.72	28.72
Common Equity, 3 Yr. CAGR %	23.42	31.73	38.39	25.88	25.96
Cash From Operations, 3 Yr. CAGR %	-7.11	49.26	102.27	13.02	-18.96
Capital Expenditures, 3 Yr. CAGR %	28.28	74.82	28.82	48.49	39.75
Levered Free Cash Flow, 3 Yr. CAGR %	4.41	188.27	16.97	-6.43	15.73
Unlevered Free Cash Flow, 3 Yr. CAGR %	-0.53	211.98	18.1	-8.45	15.29
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	19.77	21.03	18.44	17.15	16.11
Gross Profit, 5 Yr. CAGR %	17.98	16.65	13.6	18.14	16.25
EBITDA, 5 Yr. CAGR %	14.47	15.54	0.1	17.03	17.02
EBITA, 5 Yr. CAGR %	28.85	30.39	8.71	30	27.06
EBIT, 5 Yr. CAGR %	29.09	30.57	10.52	35	31.5
Earnings From Cont. Operations, 5 Yr. CAGR %	49.97	33.89	5.37	27.35	28.58
Net Income, 5 Yr. CAGR %	49.97	33.89	5.5	27.22	28.58
Normalized Net Income, 5 Yr. CAGR %	41.99	39.9	13.59	35.77	31.72
Diluted EPS Before Extra, 5 Yr. CAGR %	50.33	30.12	3.2	24.05	24.13
Accounts Receivable, 5 Yr. CAGR %	15.66	21.94	16.66	19.43	18.72
Inventory, 5 Yr. CAGR %	32.99	33.66	24.38	21.42	16.72
Net Property, Plant and Equip., 5 Yr. CAGR %	-9.68	-3.63	1.31	10.03	22.53
Total Assets, 5 Yr. CAGR %	10.38	14.73	13.65	16.02	21.79
Tangible Book Value, 5 Yr. CAGR %	26.38	32.06	37.25	35.6	38
Common Equity, 5 Yr. CAGR %	18.65	24.14	27.22	27.33	32.41
Cash From Operations, 5 Yr. CAGR %	0.3	7.24	7.53	33.4	23.81
Capital Expenditures, 5 Yr. CAGR %	17.01	35.77	28.1	53.03	49.4
Levered Free Cash Flow, 5 Yr. CAGR %	5.07	45.95	2.21	30.78	66.99
Unlevered Free Cash Flow, 5 Yr. CAGR %	-1.1	40.03	-0.83	34.54	68.76