Novartis India Ltd. benchmarking: Perfomance to industry peers

Financial

	Novartis	Panacea Biotec	Indoco Remedies
Operational Metrics
Pharmaceuticals
Domestic Sales Growth - YoY	-5.28 %	n/a	4.0 %
Financials
5 yr Average ROE	8.0 %	36.5 %	8.94 %
5yr average Equity Multiplier	2.72	0.36	1.9
5yr Average Asset Turnover Ratio	0.18	0.41	0.88
5yr Avg Net Profit Margin	17.12 %	26.1 %	5.41 %
Price to Book	2.64	2.57	1.89
P/E	21.09	0.0	0.0
5yr Avg Cash Conversion Cycle	-23.33 Days	-170.26 Days	35.3 Days
Inventory Days	44.27 Days	120.03 Days	70.6 Days
Days Receivable	38.18 Days	42.2 Days	83.16 Days
Days Payable	124.28 Days	325.14 Days	111.01 Days
5yr Average Interest Coverage Ratio	65.43	2.7	7.53
5yr Avg ROCE	5.91 %	-2.79 %	13.6 %
5yr Avg Operating Profit Margin	15.15 %	-3.85 %	14.97 %
5 yr average Debt to Equity	0.0	-0.69	0.49
5yr CAGR Net Profit	37.01 %	-43.68 %	n/a
5yr Average Return on Assets	3.13 %	9.32 %	5.31 %
Shareholdings
Promoter Holding	70.68 %	72.48 %	58.9 %
Share Pledged by Promoters	0.0	0.0	0.0
Change in Promoter Holding (3 Yrs)	0.0	-1.11 %	0.21 %
Change in Mutual Fund Holding (3 Yrs)	0.0	0.0	0.27 %

	Novartis	Panacea Biotec	Indoco Remedies
Product Wise Break-Up	Product Wise Break-Up Wholesale of pharmaceuticals and medical goods 100.0 Research and Development 0 Formulations 0 Vaccines 0 CRO, Analytical Services 0 API 0 Formulation 0	Product Wise Break-Up 0 Formulation 0 API 0 Formulations 35.66 Research and Development 0 CRO, Analytical Services 0 Vaccines 64.34	Product Wise Break-Up 0 Formulations 90.0 Active Pharmaceutical Ingredient (API) 9.0 Formulations 0 Research and Development 0 CRO, Analytical Services 1.0 Vaccines 0
Location Wise Break-Up	Location Wise Break-Up India 100.0 Rest of the World 0	Location Wise Break-Up Rest of the World 86.09 India 13.91	Location Wise Break-Up Rest of the World 35.63 India 64.37