Martin and Harris Laboratories Ltd

Platform	Last Traded Price	Min Quantity

Strengths & Weaknesses

Strengths

Established Reputation: Martin and Harris Laboratories has a strong presence in the pharmaceutical sector, backed by its parent company, the Apeejay Group, which enhances its credibility and market reach.

Diverse Product Portfolio: The company produces a wide range of pharmaceutical products, including allopathic medicines, which allows it to cater to various market segments and reduce dependency on any single product line.

Innovative R&D Capabilities: With a dedicated research and development center in Gurugram, the company focuses on developing new formulations and improving existing products, fostering continuous innovation.

Financial Stability: The company has demonstrated significant revenue growth over recent years, with a reported total income of approximately ₹180.4 crores and a profit after tax of ₹48.43 crores, indicating robust financial health.

Weaknesses

Limited Market Presence: Despite its strengths, Martin and Harris faces challenges in competing against larger players like Walter Bushnell, which have a more extensive distribution network and market penetration.

Dependency on Related Party Transactions: The company has engaged in related party loans that may raise concerns regarding transparency and governance, potentially impacting investor confidence.

Unlisted Status: Being unlisted can limit access to capital markets for expansion and may affect liquidity for investors

Balance Sheet	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Equity Capital	4.00	4.00	4.00	4.00	4.00	4.00
Reserves	628.07	589.29	523.33	441.61	322.54	254.44
Total Equity	632.07	593.29	527.33	445.61	326.54	258.44
Borrowings	0.00	0.00	0.00	0.00	4.61	4.57
Provisions	0.23	0.68	0.65	0.51	0.00	0.00
Other Non-Current Liabilities	0.50	0.39	0.57	0.20	0.61	0.67
Total NC Liabilities	0.73	1.07	1.22	0.71	5.22	5.23
Borrowings	7.83	4.19	4.55	4.55	9.21	0.01
Other Current Liabilities	21.34	16.11	9.47	9.65	25.55	9.29
Total Current Liabilities	29.17	20.30	14.02	14.20	34.76	9.30
Equity + Liabilities	661.97	614.66	542.57	460.51	366.52	272.97
Fixed Assets (incl. WIP)	17.76	18.94	13.39	13.43	55.31	46.93
Other Non Current Assets	69.57	62.19	55.52	112.66	257.36	41.79
Total NC Assets	87.33	81.13	68.92	126.10	312.67	88.72
Trade Receivables	1.97	1.37	0.00	0.12	18.45	5.63
Cash & Cash Equivalents	44.37	30.16	21.39	101.62	0.78	0.59
Other Current Assets	528.29	502.00	452.25	232.67	34.63	178.02
Total Current Assets	574.63	533.53	473.65	334.42	53.85	184.24
Total Assets	661.97	614.66	542.56	460.51	366.52	272.97

Profit & Loss	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Revenue from Operations	146.15	205.16	186.31	167.68	267.29	247.23
Growth %	-28.77%	10.12%	11.11%	-37.27%	8.11%	0
Operating Expenses	120.0	133.0	115.1	108.0	203.4	196.1
Growth %	-9.78%	15.60%	6.56%	-46.92%	3.72%	0
Operating Profit	26.14	72.15	71.24	59.69	63.86	51.09
Op. Profit Margin %	17.89%	35.17%	38.24%	35.60%	23.89%	20.66%
Other Income	34	24	26	12	29	43
Finance Costs	0.58	0.22	0.16	0.24	0.25	0.07
Depreciation	4.63	3.93	3.45	3.23	1.56	1.65
Profit Before Tax	55.22	92.09	93.42	68.52	91.42	92.04
Tax	6.8	24.0	23.3	17.4	22.2	19.6
Tax %	12.30%	26.08%	24.90%	25.42%	24.29%	21.29%
Profit After Tax	48.43	68.07	70.16	51.10	69.2	72.4
Growth %	-28.85%	-2.98%	37.29%	-26.17%	-4.45%	0
PAT %	33.14%	33.18%	37.66%	30.48%	25.90%	29.30%
Diluted EPS	101.17	170.34	175.57	127.88	0	0

Shareholding Pattern

No shareholding data available.

Fundamentals

Quick Insights

Established Reputation: Martin and Harris Laboratories has a strong presence in the pharmaceutical sector, backed by its parent company, the Apeejay Group, which enhances its credibility and market reach. Diverse Product Portfolio: The company produces a wide range of pharmaceutical products, including allopathic medicines, which allows it to cater to various market segments and reduce dependency on any single product line. Innovative R&D Capabilities: With a dedicated research and development center in Gurugram, the company focuses on developing new formulations and improving existing products, fostering continuous innovation. Financial Stability: The company has demonstrated significant revenue growth over recent years, with a reported total income of approximately ₹180.4 crores and a profit after tax of ₹48.43 crores, indicating robust financial health.

Market Cap-

PE Ratio-

EPS₹101.17

Dividend Yield-

Book Value₹1,581.74 Cr

Debt/Equity0.012

Price/Book-

Price/Sales-

Industry PE-

Sales₹146.15 Cr

Profit After Tax₹48.43 Cr

Share Capital₹4 Cr

Shares Outstanding-

ISININE03VV01015

Sectormanufacturing of pharmaceuticals, medicinal chemical & botanical products

Symbol-

About Company

Martin and Harris Laboratories Limited is a prominent pharmaceutical company based in Gurgaon, Haryana, India. Founded in 1993, it operates as a subsidiary of the Apeejay Group, one of India's largest conglomerates.

Quick Insights

Established Reputation: Martin and Harris Laboratories has a strong presence in the pharmaceutical sector, backed by its parent company, the Apeejay Group, which enhances its credibility and market reach. Diverse Product Portfolio: The company produces a wide range of pharmaceutical products, including allopathic medicines, which allows it to cater to various market segments and reduce dependency on any single product line. Innovative R&D Capabilities: With a dedicated research and development center in Gurugram, the company focuses on developing new formulations and improving existing products, fostering continuous innovation. Financial Stability: The company has demonstrated significant revenue growth over recent years, with a reported total income of approximately ₹180.4 crores and a profit after tax of ₹48.43 crores, indicating robust financial health.

Market Cap-

PE Ratio-

EPS₹101.17

Dividend Yield-

Book Value₹1,581.74 Cr

Debt/Equity0.012

Price/Book-

Price/Sales-

Industry PE-

Sales₹146.15 Cr

Profit After Tax₹48.43 Cr

Share Capital₹4 Cr

Shares Outstanding-

ISININE03VV01015

Sectormanufacturing of pharmaceuticals, medicinal chemical & botanical products

Symbol-

About Company

Strengths

Weaknesses

Dependency on Related Party Transactions: The company has engaged in related party loans that may raise concerns regarding transparency and governance, potentially impacting investor confidence.

Unlisted Status: Being unlisted can limit access to capital markets for expansion and may affect liquidity for investors

Annual Reports

FY 2020 FY 2022 FY 2024

Balance Sheet	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Equity Capital	4.00	4.00	4.00	4.00	4.00	4.00
Reserves	628.07	589.29	523.33	441.61	322.54	254.44
Total Equity	632.07	593.29	527.33	445.61	326.54	258.44
Borrowings	0.00	0.00	0.00	0.00	4.61	4.57
Provisions	0.23	0.68	0.65	0.51	0.00	0.00
Other Non-Current Liabilities	0.50	0.39	0.57	0.20	0.61	0.67
Total NC Liabilities	0.73	1.07	1.22	0.71	5.22	5.23
Borrowings	7.83	4.19	4.55	4.55	9.21	0.01
Other Current Liabilities	21.34	16.11	9.47	9.65	25.55	9.29
Total Current Liabilities	29.17	20.30	14.02	14.20	34.76	9.30
Equity + Liabilities	661.97	614.66	542.57	460.51	366.52	272.97
Fixed Assets (incl. WIP)	17.76	18.94	13.39	13.43	55.31	46.93
Other Non Current Assets	69.57	62.19	55.52	112.66	257.36	41.79
Total NC Assets	87.33	81.13	68.92	126.10	312.67	88.72
Trade Receivables	1.97	1.37	0.00	0.12	18.45	5.63
Cash & Cash Equivalents	44.37	30.16	21.39	101.62	0.78	0.59
Other Current Assets	528.29	502.00	452.25	232.67	34.63	178.02
Total Current Assets	574.63	533.53	473.65	334.42	53.85	184.24
Total Assets	661.97	614.66	542.56	460.51	366.52	272.97

Profit & Loss	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Revenue from Operations	146.15	205.16	186.31	167.68	267.29	247.23
Growth %	-28.77%	10.12%	11.11%	-37.27%	8.11%	0
Operating Expenses	120.0	133.0	115.1	108.0	203.4	196.1
Growth %	-9.78%	15.60%	6.56%	-46.92%	3.72%	0
Operating Profit	26.14	72.15	71.24	59.69	63.86	51.09
Op. Profit Margin %	17.89%	35.17%	38.24%	35.60%	23.89%	20.66%
Other Income	34	24	26	12	29	43
Finance Costs	0.58	0.22	0.16	0.24	0.25	0.07
Depreciation	4.63	3.93	3.45	3.23	1.56	1.65
Profit Before Tax	55.22	92.09	93.42	68.52	91.42	92.04
Tax	6.8	24.0	23.3	17.4	22.2	19.6
Tax %	12.30%	26.08%	24.90%	25.42%	24.29%	21.29%
Profit After Tax	48.43	68.07	70.16	51.10	69.2	72.4
Growth %	-28.85%	-2.98%	37.29%	-26.17%	-4.45%	0
PAT %	33.14%	33.18%	37.66%	30.48%	25.90%	29.30%
Diluted EPS	101.17	170.34	175.57	127.88	0	0

Shareholding Pattern

No shareholding data available.

Board of Directors

Mr Shanker Laad LaxmanDirectors

Mr. Harnam Thakur SinghDirectors

Mr Nasim UddinDirectors

Mr Vivek Manohar PadgaonkarDirectors

Mr. Ashok Chandra SenDirectors

Senior Management

Chang Investchem Pvt Ltd37.53%

Aessen Pvt Ltd20.51%

ACME Network SA20.07%

Others21.89%