Novartis India Ltd. benchmarking: Perfomance to industry peers

Financial

	Novartis	Indoco Remedies	Bliss GVS Pharma
Operational Metrics
Pharmaceuticals
Domestic Sales Growth - YoY	-5.28 %	4.0 %	n/a
Financials
5 yr Average ROE	8.0 %	8.94 %	6.83 %
5yr average Equity Multiplier	2.72	1.9	1.3
5yr Average Asset Turnover Ratio	0.18	0.88	0.62
5yr Avg Net Profit Margin	17.12 %	5.41 %	8.7 %
Price to Book	2.47	2.16	1.53
P/E	17.97	0.0	15.8
5yr Avg Cash Conversion Cycle	-23.33 Days	35.3 Days	186.56 Days
Inventory Days	44.27 Days	70.6 Days	54.35 Days
Days Receivable	38.18 Days	83.16 Days	189.93 Days
Days Payable	124.28 Days	111.01 Days	75.78 Days
5yr Average Interest Coverage Ratio	65.43	7.53	14.68
5yr Avg ROCE	5.91 %	13.6 %	13.27 %
5yr Avg Operating Profit Margin	15.15 %	14.97 %	17.03 %
5 yr average Debt to Equity	0.0	0.49	0.11
5yr CAGR Net Profit	37.01 %	n/a	4.24 %
5yr Average Return on Assets	3.13 %	5.31 %	5.31 %
Shareholdings
Promoter Holding	70.68 %	58.9 %	35.39 %
Share Pledged by Promoters	0.0	0.0	0.0
Change in Promoter Holding (3 Yrs)	0.0	0.21 %	0.84 %
Change in Mutual Fund Holding (3 Yrs)	0.0	0.31 %	0.0

	Novartis	Indoco Remedies	Bliss GVS Pharma
Product Wise Break-Up	Product Wise Break-Up Wholesale of pharmaceuticals and medical goods 100.0 CRO, Analytical Services 0 API 0 Formulation 0 Anti Inflammatory 0 Anti-biotic 0 Anti-bacterial 0 Anti-fungal, 0 Antimalarial 0	Product Wise Break-Up Active Pharmaceutical Ingredient (API) 9.0 Anti-biotic 0 Formulations 90.0 Antimalarial 0 CRO, Analytical Services 1.0 Anti-bacterial 0 0 Anti Inflammatory 0 Anti-fungal, 0	Product Wise Break-Up API 0 Antibiotics 5.0 Formulation 0 Anti Malarials 43.0 CRO, Analytical Services 0 Anti-bacterial 0 0 Anti Inflammatory 7.0 Anti-fungal 16.0 Others 29.0
Location Wise Break-Up	Location Wise Break-Up India 100.0 Rest of the World 0	Location Wise Break-Up India 64.37 Rest of the World 35.63	Location Wise Break-Up India 6.61 Rest of the World 93.39