Hi, in this article we are discussing More pen lab’s share price, its fundamentals, and technical analysis. so let’s have look at more pen labs detail analysis. hope this article helps you understand all details about more pen labs.
Morepen laboratories is a fast-growing pharmaceutical company established in 1984.
It has been listed in India’s major stock exchanges including the Bombay stock exchange (BSC) and National Stock Exchange (NSE) since 1993 with an investor 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 of international standing.
Morepen is USFDA approved manufacturing facility for API at Masulkhana (Himachal Pradesh), adhering to the most stringent standards of quality excellence. And addition state-of-the-art finished dosage and API plants at parwanoo and Baddi (H.P) have the latest cGMP guidelines, and their Quality systems, technical product information, documentation process, etc, are perfect lines to meet the regulatory requirements for exports to various counties.
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, Canada, and Europe and also supplies the bulk drugs to top-class customers like Novartis, Merck, etc. it is the approved global supplier to these companies.
Morepen introduced new products like Fluvastatin, Atorvastatin, Fexofenadine, and Montelukast, while in the R & D pipeline are products like Moxifloxacin, Pioglitazone, and Gatifloxacin. These molecules exported contribute about 75 to 80% of its turnover.
Products of the company:
Active Pharmaceutical Ingredient (API) – Loratadine, Atorvastain Crystalline, Desloratadine, Venalafaxine, Ramipril, Zafirlukast, Bupropipion, Aripiprazole, Telmisartan, Pregabalin, Ezetimibe, etc.
- Intermediates: Atorvastatin, Carvidilol, Cisapride, Fexofenadine, Irbesartan, Loratadine, Lamotrigine, Sildenafil, Venlafaxine etc
- Finished Dosages: A total of 121 tablets are manufactured by the company like Acifix Frutabs, Acarbose Tablets 25, Aspirin, Claritin, Eccite, Folic Acid 5, Gatropen, Orvastin, Paracetamol, etc.
The company divisions:
The company launches “Dr. Morepen”, a range of self-health products to come closer to its consumers.
The company recognizes the requirement for innovation and technologically advanced diagnostic products in India. It created a new entity for marketing medical devices and diagnostic products – “MEDIPATH”.
Fundamentals of more pen laboratories:
| Enterprise value: | 2,066.26 CR |
| No. of share: | 51.12 CR |
| P/E: | 35.37 |
| P/B: | 2.76 |
| Face Value: | 2 |
| Dividend Yield: | 0 |
| Book Value: | 14.84 |
| Cash: | 45.55 CR |
| DEBT: | 118.57 CR |
| Promoter Holding: | 38.22% |
| EPS: | 1.16 |
| Sales Growth: | 30.28% |
| ROE: | 20.77% |
| ROCE: | 23.73% |
| Profit Growth: | 7.23% |
Strengths:
- the company has had good profit growth year by year and 52.29% growth in the last 3 years. 34.26% in the last 5 years.
- Sales growth is also good. Sales growth in the last year is 30.28%, in the last 3 years sales growth is 26.42%, and 21.49% in the last 5 years.
- The company is basically in debt free which indicates financial solid management
- The company has a healthy interest coverage ratio of 52.75.
- The company has an efficient cash conversion cycle of 20.28 days which is good for the cash management.
Limitations:
- The company has a negative cash flow from operations of -66.38.
- The company is not giving any dividends to the shareholders.
Share Holding Pattern:
- Public Holding: 56.63%
- Promoters Holding: 38.22%
- DII Holding: 3.99%
- FII Holding: 1.15%
- Promoters increase their stake in the company year by year which indicates that the management believes that the company has strong growth potential.
Is Morepen Laboratories good stock to invest in?
The Indian healthcare sector is expected to reach US$373 billion by 2022, Rising incomes, greater health awareness, diseases of lifestyle, and increasing access to health insurance increase both in terms of revenue and employment generation the healthcare sector has become one of India’s largest sectors.
Healthcare sectors include hospitals, medical devices, clinical trials, outsourcing, telemedicine, medical tourism, health insurance, and medical equipment.
Healthcare services are offered by both the public and private sectors.
The areas of services are both urban as well as rural.
- The operating cash flow ratio is used to measure the adequacy of a company’s cash generated from operating activities to pay off short-term financial obligations. Its cash from the operating activity was rs- 66.38 Cr.
- Financial Strength: more pen lab has a Debt to Equity ratio of 0.03, which is a strong indication for the company.
- EPS growth: more pen lab has 0.94% EPS growth which is bad for the company.
- ROE: more pen lab has a healthy ROE of 20.77%, indicating how efficiently the shareholder’s fund is used to generate profits.
Morepen Labs Technical analysis.
More pen lab is trading at 37 as of 1st Jan 2023. It tries 4 times to break the 43 levels but fails.
Now it is near the same level. If it breaks this level and sustains above 45 then its next target is 76.
76 to 105 are crucial levels for Morepen. If more pen moves above 105 and sustains this level then they will reach 175 its all-time high which is easy for more pen.
We believe technically as well as fundamentally. The signal is well for More pen right now.
| Year | Minimum | Maximum |
| 2023 | 23 | 38 |
| 2024 | 35 | 43 |
| 2025 | 40 | 76 |
| 2030 | 105 | 175 |
| 2035 | 238 | 424 |
| 2040 | 620 | 754 |
| 2045 | 841 | 955 |
| 2050 | 1200 | 1362 |
More pen lab share price Target 2023
More pen lab share price Target in 2023 will be a minimum of 23 and a maximum of 38. The expected target will be 36.
More pen lab share price Target 2024
More pen lab share price Target in 2024 will be a minimum of 35 and a maximum of 43. The expected target will be 34.
More pen lab share price Target 2025
More pen lab share price Target in 2025 will be a minimum of 40 and a maximum of 76. The expected target will be 72.
More pen lab share price Target 2030
More pen lab share price Target in 2030 will be a minimum of 105 and 175. The expected target will be 171.
More pen lab share price Target 2035
More pen lab share price Target 2035 will be a minimum of 238 and a maximum of 424. The expected target will be 419.
More pen lab share price Target 2040
More pen lab share price Target 2040 will be a minimum of 620 and a maximum of 754. The expected target will be 750.
More pen lab share price Target 2045
More pen lab share price Target 2045 will be a minimum of 841 and a maximum of 955. The expected target will be 940.
More pen lab share price Target 2050
More pen lab share price Target 2050 will be a minimum of 1200 and a maximum of 1362. The expected target will be 1355.
Conclusion:
Morepen is an excellent stock to consider for investment but before investment check both fundamentals as well as technical supports to invest. For more information, you can comment below or mail us.