FDC Ltd stock story –
India focussed maker of branded formulations and APIs
Domestic sales-83 pc
Export sales -17 pc(mostly from US – generics)
Top brands in India Mkt – Mkt share
Electral-oral electrolytes – 75 pc
Zifi-Cefixime – 24 pc
Enerzal-Energy drinks – 42 pc
Zifi CV- Cefixime+Calvulanic acid – 46 pc
Zifi O- Cefixime+Ofloxacin – 14 pc
Zocon- Fluconazole – 27 pc
Simyl MCT- Infant powder and oils – 34 pc
Amodep AT- Amlodipine+Atenolol – 7 pc
Company facilities –
Formulations plants at Sinnar, Baddi, Walnuj, Goa
Foods Plant at Sinnar
APIs plant at Roha
Top brands by yearly sales –
Electral – 350 cr
Zifi – 320 cr
Enerzal – 150 cr
Vitcofol – 86 cr
Zifi CV – 75 cr
Zocon – 54 cr
Cathrin – 59 cr
Zifi O – 53 cr
Simyl MCT – 51 cr
Amodep AT – 40 cr
International business – currently US dependent. Working hard to diversify into Middle East and Latin America with focus on Peru and Chile
Aspire to grow at 15-18 pc range (topline) for next five years. Bottomline growth may be better due better absorption of costs
Cash on books-aprox 800 cr
H1 is always stronger for the company due higher sales of energy drinks, electrolytes and antibiotics (in Q2)
As sales of Foods category+brands like Zocon grows, seasonality may reduce slowly
Management is aware of the fact that they have to reduce dependence on Electrolytes and Anti-Biotics. Now focussing on products like – Foods Division, Zocon, Opthal, Cardio & Diabetic products
Initiated a small tracking position
Inclined to add more if business performance improves / management is able to walk the talk
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