Mar '20 Mar '19 Mar '18 Mar '17 Mar '16

Investment Valuation Ratios

Face Value 5 5 5 5 5
Dividend Per Share 0.5 0.5 1 1 5
Operating Profit Per Share (Rs) 2.38 6.43 5.3 29.59 20.85
Net Operating Profit Per Share (Rs) 16.57 48.08 40.32 129.4 115.09
Free Reserves Per Share (Rs) -- -- -- -- --
Bonus in Equity Capital 48.91 97.82 97.82 93.47 93.47
Profitability Ratios
Operating Profit Margin(%) 14.38 13.36 13.15 22.86 18.11
Profit Before Interest And Tax
8.58 7.94 7.15 16.42 11.2
Margin(%)
Gross Profit Margin(%) 9.45 8.26 7.52 17.04 12.04
Cash Profit Margin(%) 17.1 14.69 14.72 24.93 16.05
Adjusted Cash Margin(%) 17.1 14.69 14.72 24.93 16.05
Net Profit Margin(%) 22.17 17.07 9.85 20.06 16.01
Adjusted Net Profit Margin(%) 20.13 16.41 9.37 19.32 14.89
Return On Capital Employed(%) 5.17 5 4.5 8.09 7.08
Return On Net Worth(%) 5.85 6.92 3.53 7.94 6.14
Adjusted Return on Net Worth(%) 3.67 4.13 3.53 7.94 4.29
Return on Assets Excluding
62.8 118.58 112.3 327.01 299.79
Revaluations
Return on Assets Including
62.81 118.59 112.31 327.06 299.83
Revaluations
Return on Long Term Funds(%) 5.17 5 4.5 8.09 7.34

Liquidity And Solvency Ratios

Current Ratio 3.12 2.55 2.5 3.02 2.26

Quick Ratio 2.2 1.66 1.78 2.21 2.26
Debt Equity Ratio -- -- 0.01 0.02 0.06
Long Term Debt Equity Ratio -- -- 0.01 0.02 0.02
Debt Coverage Ratios
Interest Cover 324.75 136.92 306.8 142.11 237.05
Total Debt to Owners Fund -- 0 0.01 0.02 0.06
Financial Charges Coverage Ratio 406.42 193.5 442.9 181.74 310.58
Financial Charges Coverage Ratio Post
450.08 247.08 375.6 177.29 268.53
Tax

Management Efficiency Ratios

Inventory Turnover Ratio 3.72 3.6 4.32 4.85 4.63

Debtors Turnover Ratio 2.7 3.51 3.15 3.98 4.35
Investments Turnover Ratio 0.26 0.41 4.32 4.85 4.63
Fixed Assets Turnover Ratio 1.09 1.16 1.12 1.26 1.23
Total Assets Turnover Ratio 0.27 0.41 0.36 0.39 0.36
Asset Turnover Ratio 0.27 0.41 0.36 0.4 0.51

Average Raw Material Holding -- -- -- -- --

Average Finished Goods Held -- -- -- -- --
Number of Days In Working Capital 177.61 143.52 129.61 157.61 169.83

Profit & Loss Account Ratios

Material Cost Composition 43.2 48.66 43.45 41.79 44.48

Imported Composition of Raw Materials
-- -- -- -- --
Consumed
Selling Distribution Cost Composition -- 1.55 1.97 1.83 1.83
Expenses as Composition of Total
16.49 17.7 19.46 19.66 14.91
Sales

Cash Flow Indicator Ratios

Dividend Payout Ratio Net Profit 13.63 14.08 29.05 -- 30.03

Dividend Payout Ratio Cash Profit 11.15 10.84 18.49 -- 21.77
Earning Retention Ratio 78.28 76.4 70.95 100 57.05
Cash Earning Retention Ratio 83.96 84.27 81.51 100 72.15
AdjustedCash Flow Times 0 0 0.18 0.2 0.91
Days Inventory 98.11828 101.3889 84.49074 75.25773 78.83369
Days Debtors/AR 135.1852 103.9886 115.873 91.70854 83.90805
 Mar '20 Mar '19 Mar '18 Mar '17 Mar '16

Investment Valuation Ratios

Face Value 1 1 1 1 1
Dividend Per Share 3.5 3.5 3.5 3.2 3.2
Operating Profit Per Share (Rs) 13.9 15.92 16.08 3.14 25.17
Net Operating Profit Per Share (Rs) 62 58.97 56.75 31.56 68.69
Free Reserves Per Share (Rs) -- -- -- -- --
Bonus in Equity Capital 71.26 71.26 71.26 71.26 71.26
Profitability Ratios
Operating Profit Margin(%) 22.42 26.99 28.33 9.93 36.64
Profit Before Interest And Tax
13.81 19.27 22.48 1.84 32.68
Margin(%)
Gross Profit Margin(%) 15.66 21.06 23.29 2.17 33.49
Cash Profit Margin(%) 25.49 27.25 22.99 23.93 31.34
Adjusted Cash Margin(%) 25.49 27.25 22.99 23.93 31.34
Net Profit Margin(%) 22.25 24.6 18.77 20.48 28.97
Adjusted Net Profit Margin(%) 19.63 22.52 18.12 17.35 28.27
Return On Capital Employed(%) 12.96 15.37 15.01 6.94 34.61
Return On Net Worth(%) 12.54 17.33 14.08 10 32.46
Adjusted Return on Net Worth(%) 12.48 16.8 14.08 10 32.46
Return on Assets Excluding
109.99 83.7 75.66 64.65 61.31
Revaluations
Return on Assets Including
109.99 83.7 75.66 64.65 61.31
Revaluations
Return on Long Term Funds(%) 14.43 17.28 17.16 8.31 37.73

Liquidity And Solvency Ratios

Current Ratio 1.05 1.11 1.61 1.03 1.47

Quick Ratio 1.75 1.93 2.2 1.92 2.17
Debt Equity Ratio 0.26 0.39 0.34 0.42 0.16
Long Term Debt Equity Ratio 0.13 0.24 0.17 0.19 0.07
Debt Coverage Ratios
Interest Cover 7.88 20.43 24.43 58.86 95.48
Total Debt to Owners Fund 0.26 0.39 0.34 0.42 0.16
Financial Charges Coverage Ratio 9.72 24.43 29.02 81.46 103.83
Financial Charges Coverage Ratio Post
8.87 21.58 22.66 83.23 86.23
Tax

Management Efficiency Ratios

Inventory Turnover Ratio 4.55 4.1 4.41 3.51 10.84

Debtors Turnover Ratio 2.78 3.59 5.32 2.45 5.09
Investments Turnover Ratio 0.45 0.51 4.41 3.51 10.84
Fixed Assets Turnover Ratio 0.99 1.04 1.39 0.9 2.23
Total Assets Turnover Ratio 0.45 0.51 0.57 0.35 0.98
Asset Turnover Ratio 0.49 0.54 0.59 0.39 1.07

Average Raw Material Holding -- -- -- -- --

Average Finished Goods Held -- -- -- -- --
Number of Days In Working Capital 138.74 139.03 157.42 203.82 105.92

Profit & Loss Account Ratios

Material Cost Composition 33.55 35.63 35.2 40.09 28.42

Imported Composition of Raw Materials
-- -- -- -- --
Consumed
Selling Distribution Cost Composition -- -- -- -- --
Expenses as Composition of Total
83.1 80.17 73.46 -- --
Sales

Cash Flow Indicator Ratios

Dividend Payout Ratio Net Profit 50.71 24.11 -- 49.49 28.13

Dividend Payout Ratio Cash Profit 38.9 19.43 -- 35.88 25.38
Earning Retention Ratio 49.02 75.12 100 50.51 71.87
Cash Earning Retention Ratio 60.94 80.08 100 64.12 74.62
AdjustedCash Flow Times 1.61 1.86 1.92 3.05 0.46
Days Inventory 80.21978 89.02439 82.76644 103.9886 33.67159
Days Debtors/AR 131.295 101.6713 68.60902 148.9796 71.70923

Trade Payables 862.7 701 992.1 996.1 899.9

Net Profit
 Mar '20 Mar '19 Mar '18 Mar '17 Mar '16

Investment Valuation Ratios

Face Value 5 5 5 5 5
Dividend Per Share 25 20 20 20 20
Operating Profit Per Share (Rs) 172.8 138.48 80.16 105.32 140.91
Net Operating Profit Per Share
713.6 639.84 564.12 586.44 598.31
(Rs)
Free Reserves Per Share (Rs) -- -- -- -- --
Bonus in Equity Capital 67.22 67.3 67.3 67.38 65.49
Profitability Ratios
Operating Profit Margin(%) 24.21 21.64 14.2 17.95 23.55
Profit Before Interest And Tax
16.51 13.98 5.81 9.8 16.78
Margin(%)
Gross Profit Margin(%) 17.55 14.29 5.93 10.39 17.19
Cash Profit Margin(%) 29.59 18.94 14.02 20.55 22.57
Adjusted Cash Margin(%) 29.59 18.94 14.02 20.55 22.57
Net Profit Margin(%) 24.78 12.02 6.05 14.24 13.26
Adjusted Net Profit Margin(%) 23.32 11.75 5.92 13.42 12.95
Return On Capital Employed(%) 17.37 12.94 5.27 11.47 13.61
Return On Net Worth(%) 19.33 10.07 4.8 11.93 11.67

Adjusted Return on Net Worth(%) 19.33 10.07 4.8 11.93 14.73

Return on Assets Excluding
914.81 763.8 711.7 699.92 680.24
Revaluations
Return on Assets Including
914.81 763.8 711.7 699.92 680.24
Revaluations
Return on Long Term Funds(%) 18.56 13.48 6.17 13.25 15.87

Liquidity And Solvency Ratios

Current Ratio 1.72 1.92 1.68 1.83 1.74

Quick Ratio 1.97 1.95 2.26 2.44 2.41
Debt Equity Ratio 0.07 0.07 0.22 0.2 0.27
Long Term Debt Equity Ratio -- 0.03 0.04 0.04 0.09
Debt Coverage Ratios
Interest Cover 59.07 30.94 12.1 28 31.34
Total Debt to Owners Fund 0.07 0.07 0.22 0.2 0.27
Financial Charges Coverage
75.58 44.68 24.43 40.85 41.52
Ratio
Financial Charges Coverage
78.97 37.23 22.35 38.05 32.4
Ratio Post Tax

Management Efficiency Ratios

Inventory Turnover Ratio 5.41 5.27 5.04 5.37 6.06

Debtors Turnover Ratio 2.84 2.68 2.17 2.34 2.37
Investments Turnover Ratio 0.73 0.78 5.04 5.37 6.06
Fixed Assets Turnover Ratio 1.32 1.25 1.17 1.3 1.58
Total Assets Turnover Ratio 0.76 0.83 0.69 0.74 0.77
Asset Turnover Ratio 0.79 0.76 0.66 0.68 0.72

Average Raw Material Holding -- -- -- -- --

Average Finished Goods Held -- -- -- -- --
Number of Days In Working
112.35 112.09 143.37 149.58 196.66
Capital

Profit & Loss Account Ratios

Material Cost Composition 35.08 31.96 34.09 31.17 29.66

Imported Composition of Raw
-- -- -- -- 38.56
Materials Consumed
Selling Distribution Cost
0.1 0.05 0.15 0.34 0.34
Composition
Expenses as Composition of Total
71.04 83.45 77.59 -- 73.87
Sales

Cash Flow Indicator Ratios

Dividend Payout Ratio Net Profit 13.32 25.99 70.41 24.22 25.13

Dividend Payout Ratio Cash Profit 10.5 16.13 29.76 15.82 16.99

Earning Retention Ratio 86.68 74.01 29.59 75.78 80.1

Cash Earning Retention Ratio 89.5 83.87 70.24 84.18 85.57
AdjustedCash Flow Times 0.29 0.43 1.93 1.11 1.31
Days Inventory 67.46765 69.25996 72.42063 67.9702 60.23102
Days Debtors/AR 128.5211 136.194 168.2028 155.9829 154.0084
 Mar '20 Mar '19 Mar '18 Mar '17 Mar '16

Investment Valuation Ratios

Face Value 1 1 1 1 1
Dividend Per Share 4 2.75 2 3.5 1
Operating Profit Per Share (Rs) 11.3 7.32 4.08 0.48 -1.81
Net Operating Profit Per Share (Rs) 42.94 37.54 32.03 31.64
Free Reserves Per Share (Rs) -- -- -- -- --
Bonus in Equity Capital 76.61 76.61 76.61 76.61 76.61
Profitability Ratios
Operating Profit Margin(%) 21.63 17.04 10.86 1.48 -5.71

Profit Before Interest And Tax Margin(%) 10.39 4.84 -3.76 -11.17

Gross Profit Margin(%) 17.15 11.67 5.45 -4.01 -11.8

Cash Profit Margin(%) 26.86 22.32 17.2 4.87 -6.7
Adjusted Cash Margin(%) 26.86 22.32 17.2 4.87 -6.7
Net Profit Margin(%) 25.62 7.92 3.39 -0.29 -14.09
Adjusted Net Profit Margin(%) 22.86 7.05 3.01 -0.27 -13.33
Return On Capital Employed(%) 12.13 8.62 5.56 0.8 -1.72
Return On Net Worth(%) 13.16 3.57 1.36 -0.1 -4.99
Adjusted Return on Net Worth(%) 13.16 8.89 5.62 -0.1 -4.66
Return on Assets Excluding Revaluations 101.68 95.21 93.04 87.58 89.27

Return on Assets Including Revaluations 101.68 95.21 93.04 87.58 89.27

Return on Long Term Funds(%) 10.19 6.77 0.94 -1.99

Liquidity And Solvency Ratios
Current Ratio 0.88 0.79 0.71 0.78 0.68
Quick Ratio 1.39 1.18 1.29 0.79 0.76
Debt Equity Ratio 0.24 0.26 0.3 0.23 0.26

Long Term Debt Equity Ratio 0.06 0.07 0.04 0.09

Debt Coverage Ratios

Interest Cover 8.97 4.58 4.17 0.92 -0.88
Total Debt to Owners Fund 0.24 0.26 0.3 0.23 0.26
Financial Charges Coverage Ratio 10.35 5.6 5.42 2.81 -0.01

Financial Charges Coverage Ratio Post Tax 10.25 3.53 3.04 2.79 -0.15

Management Efficiency Ratios

Inventory Turnover Ratio 4.76 3.69 4.22 3.38 3.63
Debtors Turnover Ratio 2.24 2 2.26 3.25 3.99
Investments Turnover Ratio 0.42 3.69 4.22 3.38 3.63
Fixed Assets Turnover Ratio 1.75 1.58 1.57 1.61 1.16
Total Assets Turnover Ratio 0.36 0.31 0.3 0.28
Asset Turnover Ratio 0.43 0.36 0.33 0.29 0.28

Average Raw Material Holding -- -- -- -- --

Average Finished Goods Held -- -- -- -- --
Number of Days In Working Capital -19.78 -2.92 -134.43 8.87

Profit & Loss Account Ratios

Material Cost Composition 38.33 42.32 43.1 50.68 46.62
Imported Composition of Raw Materials
-- -- -- -- 40.76
Consumed
Selling Distribution Cost Composition -- -- -- -- --

Expenses as Composition of Total Sales 59.22 64.08 45.32 57.41 55.38

Cash Flow Indicator Ratios

Dividend Payout Ratio Net Profit 42.94 58.67 261 -- --
Dividend Payout Ratio Cash Profit 36.55 34.98 100.61 60.25 --
Earning Retention Ratio 57.06 76.41 36.5 1153.76 123.99
Cash Earning Retention Ratio 63.45 81.46 54.25 39.75 --
AdjustedCash Flow Times 2.26 3.89 12.05 --
Days Inventory 76.68067 98.91599 86.49289 107.9882 100.551
Days Debtors/AR 162.9464 182.5 161.5044 112.3077 91.4787
COMPANY Efficiency Ratios Mar '20 Mar '19

Days Inventory 98.1182795698925 101.388888888889

Days Receivables 135.185185185185 103.988603988604

BIOCON Accounts Payable 116 136

Operating Cycle 233.303464755078 205.377492877493

Cash Cycle 117.303464755078 69.3774928774929

Days Inventory 80.2197802197802 89.0243902439024

Days Receivables 131.294964028777 101.671309192201

CADILA Accounts Payable 133 126

Operating Cycle 211.514744248557 190.695699436103

Cash Cycle 78.5147442485572 64.695699436103

Days Inventory 67.4676524953789 69.2599620493359

Days Receivables 128.521126760563 136.194029850746

Dr.Reddy Accounts Payable 131 139

Operating Cycle 195.988779255942 205.453991900082

Cash Cycle 64.9887792559423 66.4539919000822

Days Inventory 76.6806722689076 98.9159891598916

Days Receivables 162.946428571429 182.5

Sun Pharma Accounts Payable 165.45 191.64

Operating Cycle 239.627100840336 281.415989159892

Cash Cycle 74.1771008403362 89.7759891598916

COMPANY Mar '20 Mar '19 Mar '18

Biocon 98.1182795698925 101.388888888889 84.4907407407407
Cadila 80.2197802197802 89.0243902439024 82.766439909297
Dr.Reddy 67.4676524953789 69.2599620493359 72.4206349206349
Sun Pharma 76.6806722689076 98.9159891598916 86.4928909952607

DAYS INVENTORY
Biocon Cadila Dr.Reddy Sun Pharma
120
 DAYS INVENTORY
Biocon Cadila Dr.Reddy Sun Pharma
120

100

80

60

40

20

0
Mar '1 6 Mar '1 7 Mar '1 8 Mar '1 9 Mar
YEAR

COMPANY Mar '20 Mar '19 Mar '18

Biocon 135.185185185185 103.988603988604 115.873015873016
Cadila 131.294964028777 101.671309192201 68.609022556391
Dr.Reddy 128.521126760563 136.194029850746 168.202764976959
Sun Pharma 162.946428571429 182.5 161.504424778761

DAYS RECEIVABLES
Biocon Cadila Dr.Reddy Sun Pharma
200
180
160
140
120
100
80
60
40
20
0
Mar '1 6 Mar '1 7 Ma r '1 8 Ma r '1 9 Mar '2 0
YEAR

COMPANY Mar '20 Mar '19 Mar '18

Biocon 233.303464755078 205.377492877493 200.363756613757
Cadila 211.514744248557 190.695699436103 151.375462465688
Dr.Reddy 195.988779255942 205.453991900082 240.623399897593
Sun Pharma 239.627100840336 281.415989159892 247.997315774022

OPERATING CYCLE
Biocon Cadila Dr.Reddy Sun Pharma
300
 OPERATING CYCLE
Biocon Cadila Dr.Reddy Sun Pharma
300

250

200

150

100

50

0
Mar '1 6 Mar '1 7 Mar '1 8 Ma r '1 9 Mar '2 0
YEAR

COMPANY Mar '20 Mar '19 Mar '18

Biocon 116 136 121
Cadila 133 126 92
Dr.Reddy 131 139 171.58
Sun Pharma 165.45 191.64 169.84

DAYS PAYABLE
Biocon Cadila Dr.Reddy Sun Pharma
250

200

150

100

50

0
Mar '1 6 Mar '1 7 Mar '1 8 Mar '1 9 Mar '2 0

YEAR

COMPANY Mar '20 Mar '19 Mar '18

Biocon 117.303464755078 69.3774928774929 79.3637566137566
Cadila 78.5147442485572 64.695699436103 59.375462465688
Dr.Reddy 64.9887792559423 66.4539919000822 69.0433998975935
Sun Pharma 74.1771008403362 89.7759891598916 78.1573157740218
 DAYS CASH CYCLE
Biocon Cadila Dr.Reddy Sun Pharma
140
120
100
80
60
40
20
0
Mar '1 6 Mar '1 7 Mar '1 8 Mar '1 9 Mar '2 0

YEAR
 Mar '18 Mar '17 Mar '16

84.4907407407407 75.2577319587629 78.8336933045356

115.873015873016 91.7085427135678 83.9080459770115

121 130 90

200.363756613757 166.966274672331 162.741739281547

79.3637566137566 36.9662746723307 72.7417392815472

82.766439909297 103.988603988604 33.6715867158672

68.609022556391 148.979591836735 71.7092337917485

92 131 92

151.375462465688 252.968195825339 105.380820507616

59.375462465688 121.968195825339 13.3808205076157

72.4206349206349 67.9702048417132 60.2310231023102

168.202764976959 155.982905982906 154.008438818565

171.58 160.62 161.84

240.623399897593 223.953110824619 214.239461920876

69.0433998975935 63.3331108246192 52.3994619208756

86.4928909952607 107.988165680473 100.550964187328

161.504424778761 112.307692307692 91.4786967418546

169.84 121.98 90

247.997315774022 220.295857988166 192.029660929182

78.1573157740218 98.3158579881657 102.029660929182

Mar '17 Mar '16

75.2577319587629 78.8336933045356
103.988603988604 33.6715867158672
67.9702048417132 60.2310231023102
107.988165680473 100.550964187328

TORY
ddy Sun Pharma
TORY
ddy Sun Pharma

Mar '1 9 Mar '2 0

Mar '17 Mar '16

91.7085427135678 83.9080459770115
148.979591836735 71.7092337917485
155.982905982906 154.008438818565
112.307692307692 91.4786967418546

LES
y Sun Pharma

Ma r '1 9 Mar '2 0

Mar '17 Mar '16

166.966274672331 162.741739281547
252.968195825339 105.380820507616
223.953110824619 214.239461920876
220.295857988166 192.029660929182

CYCLE
r.Reddy Sun Pharma
 CYCLE
r.Reddy Sun Pharma

Ma r '1 9 Mar '2 0

Mar '17 Mar '16

130 90
131 90
160.62 161.84
121.98 90

BLE
eddy Sun Pharma

Mar '1 9 Mar '2 0

Mar '17 Mar '16

36.9662746723307 72.7417392815472
121.968195825339 13.3808205076157
63.3331108246192 52.3994619208756
98.3158579881657 102.029660929182
Sun Pharma

r '1 9 Mar '2 0

 COMPANY Mar '20 Mar '19 Mar '18 Mar '17 Mar '16
Biocon -9% 6% 3% 7% 2%
Cadila 5% 37% -9% -22% 32%
Dr.Reddy 13% 5% -4% -1% 2%
Sun Pharma 18% 16% 9% -2% 64%

3 Yr CAGR Sales (%)

Biocon Cadila Dr.Reddy Sun Pharma
70%
60%
50%
40%
30%
20%
10%
0%
-10%
-20%
-30%
Mar '1 6 Mar '1 7 Mar '1 8 Mar '1 9 Mar '2 0
YEAR

COMPANY Mar '20 Mar '19 Mar '18 Mar '17 Mar '16
Biocon 35% -3% -20% 20% 6%
Cadila 11% 47% -27% -28% 50%
Dr.Reddy 128% -4% -35% -9% -16%
Sun Pharma 224% 498% -47% -88% -38%

3 Year CAGR Net Profi t (%)

Biocon Cadila Dr.Reddy Sun Pharma
600%
500%
400%
300%
200%
100%
0%
-100%
-200%
Mar '1 6 Mar '1 7 Mar '1 8 Mar '1 9 Ma r '2 0
YEAR
 Curr
Biocon Cadila
Current Ratio Mar '20 Mar '19 Mar '18 Mar '17 Mar '16
3.5
Biocon 3.12 2.55 2.5 3.02 2.26
Cadila 1.05 1.11 1.61 1.03 1.47 3
Dr. Reddy 1.72 1.92 1.68 1.83 1.74 2.5
Sun Pharma 0.88 0.79 0.71 0.78 0.68
2

1.5

0.5

0
Mar '1 6 Mar '1 7

Quick Ratio Mar '20 Mar '19 Mar '18 Mar '17 Mar '16 Qu
Biocon 2.2 1.66 1.78 2.21 2.26
Cadila 1.75 1.93 2.2 1.92 2.17 Biocon Cadil
Dr. Reddy 1.97 1.95 2.26 2.44 2.41 3
Sun Pharma 1.39 1.18 1.29 0.79 0.76
2.5

1.5

0.5

0
Mar '1 6 Mar '1 7

Debt Equity Debt

Mar '20 Mar '19 Mar '18 Mar '17 Mar '16
Ratio
Biocon -- -- 0.01 0.02 0.06 Biocon Cadi
Cadila 0.26 0.39 0.34 0.42 0.16 0.45
Dr. Reddy 0.07 0.07 0.22 0.2 0.27 0.4
Sun Pharma 0.24 0.26 0.3 0.23 0.26 0.35
0.3
0.25
0.2
0.15
0.1
0.05
0
Mar '1 6 Mar '1 7
 0.15
0.1
0.05
0
Mar '1 6 Mar '1 7

Long Term
Debt Equity Mar '20 Mar '19 Mar '18 Mar '17 Mar '16 Long Term
Ratio
Biocon Cadi
Biocon -- -- 0.01 0.02 0.02
0.3
Cadila 0.13 0.24 0.17 0.19 0.07
Dr. Reddy -- 0.03 0.04 0.04 0.09 0.25
Sun Pharma 0.05 0.06 0.07 0.04 0.09
0.2

0.15

0.1

0.05

0
Mar '1 6 Mar '1 7
 Current Rati o
Biocon Cadila Dr. Reddy Sun Pharma

6 Mar '1 7 Mar '1 8 Mar '1 9 Mar '2 0

Quick Rati o
Biocon Cadila Dr. Reddy Sun Pharma

6 Mar '1 7 Mar '1 8 Mar '1 9 Mar '2 0

Debt Equity Rati o

Biocon Cadila Dr. Reddy Sun Pharma

16 Mar '1 7 Mar '1 8 M ar '1 9 Mar '2 0

16 Mar '1 7 Mar '1 8 M ar '1 9 Mar '2 0

Long Term Debt Equity Rati o

Biocon Cadila Dr. Reddy Sun Pharma

16 Mar '1 7 Mar '1 8 Mar '1 9 Mar '2 0

 Interest
Interest C
Mar '20 Mar '19 Mar '18 Mar '17 Mar '16
Coverage 350
Biocon 324.75 136.92 306.8 142.11 237.05 300
Cadila 7.88 20.43 24.43 58.86 95.48
250
Dr. Reddy 59.07 30.94 12.1 28 31.34
Sun Pharma 8.97 4.58 4.17 0.92 -0.88 200

150

100

50

0
Mar '16 Mar '17 Ma
-50

Biocon Cadila

Financial Financial Charges

Charges
Coverage Mar '20 Mar '19 Mar '18 Mar '17 Mar '16 500
Ratio
400
Biocon 406.42 193.5 442.9 181.74 310.58
Cadila 9.72 24.43 29.02 81.46 103.83 300
Dr. Reddy 75.58 44.68 24.43 40.85 41.52
Sun Pharma 10.35 5.6 5.42 2.81 -0.01 200

100

0
Mar '16 Mar '17 Mar
-100

Biocon Cadila
 Interest Coverage

Mar '17 Mar '18 Mar '19 Mar '20

Biocon Cadila Dr. Reddy Sun Pharma

Financial Charges Coverage Ratio

Mar '17 Mar '18 Mar '19 Mar '20

Biocon Cadila Dr. Reddy Sun Pharma

 EFFICIENCY RATIO BIOCON CADILA DR.REDDY SUN PHARMA
DAYS INVENTORY 7 8 10 9
DAYS RECEIVABLES 8 9 10 7
OPERATING CYCLE 8 9 10 7
DAYS PAYABLE 7 9 8 10
CASH CYCLE 7 8 10 9
37 43 48 42
TOTAL SCORE
7.4 8.6 9.6 8.4
PROFITABILITY RATIO BIOCON CADILA DR.REDDY SUN PHARMA
NET PROFIT MARGIN 7 8 10 9
ROE 7 8 10 9
ROA 7 8 10 9
ROIC 7 8 10 9
28 32 40 36
TOTAL SCORE
5.6 6.4 8 7.2
VALUATION RATIO BIOCON CADILA DR.REDDY SUN PHARMA
EPS 7 8 10 9
P/E 10 9 8 7
17 17 18 16
TOTAL SCORE
1.7 1.7 1.8 1.6
LIQUIDITY RATIO BIOCON CADILA DR.REDDY SUN PHARMA
CURRENT RATIO 10 8 9 7
QUICK RATIO 10 8 9 7
20 16 18 14
TOTAL SCORE
5 4 4.5 3.5
SOLVENCY/LEVERAGE RATIO BIOCON CADILA DR.REDDY SUN PHARMA
DEBT - EQUITY 10 7 9 8
LONG TERM DEBT - EQUITY 10 7 10 8
INTEREST COVERAGE 8 7 10 9
28 21 29 25
TOTAL SCORE
7 5.25 7.25 6.25

TOTAL WEIGHTED AVERAGE SCORE 26.7 25.95 31.15 26.95

RANK ON BASIS OF TOTAL WEIGHTED AVERAGE SCORE 3 4 1 2
 RATIOS WEIGHTAGE ASSIGNED
EFFICIENCY 0.2
PROFITABILITY 0.2
LIQUIDITY 0.25
LEVERAGE 0.25
VALUATION 0.1