For
the quarter ending Dec 2021, consolidated net sales (including other operating income) of Glaxosmithkline Pharmaceuticals has increased 3.04% to Rs 815.92 crore compared to quarter ended Dec 2020.
Operating profit margin has jumped from 22.81% to 24.24%, leading to 9.49% rise in operating profit to Rs 197.81 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 9.39% to 14.60%. Purchase of finished goods cost fell from 31.89% to 25.73%. Employee cost decreased from 20.69% to 17.14%. Other expenses rose from 14.56% to 18.72%. Other income fell 26.39% to Rs 10.32 crore. PBIDT rose 6.91% to Rs 208.13 crore. Provision for interest fell 38.30% to Rs 0.58 crore.
PBDT rose 7.13% to Rs 207.55 crore. Provision for depreciation rose 1.88% to Rs 17.87 crore.
Profit before tax grew 7.65% to Rs 189.68 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 33.48 crore, compared to Rs 47.48 crore. Effective tax rate was 19.49% compared to 25.43%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 0.70% to Rs 138.28 crore. Promoters’ stake was 75.00% as of 31 December 2021 ,compared to 75.00% as of 31 December 2020 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Glaxosmithkline Pharmaceuticals has increased 13.17% to Rs 2468.4 crore.
Operating profit margin has jumped from 20.24% to 23.77%, leading to 32.89% rise in operating profit to Rs 586.66 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 14.87% to 18.73%. Purchase of finished goods cost fell from 28.02% to 22.06%. Employee cost decreased from 21.30% to 19.02%. Other expenses rose from 15.59% to 16.45%. Other income fell 29.59% to Rs 57.02 crore. PBIDT rose 23.21% to Rs 643.68 crore. Provision for interest fell 40.69% to Rs 1.72 crore.
PBDT rose 23.56% to Rs 641.96 crore. Provision for depreciation fell 13.26% to Rs 52.84 crore.
Profit before tax grew 28.45% to Rs 589.12 crore. Share of profit/loss were nil in both the periods. Extraordinary items were increased to Rs -17.92 crore. Provision for tax was expense of Rs 135.77 crore, compared to Rs 121.4 crore. Effective tax rate was 23.77% compared to 29.97%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 53.53% to Rs 435.43 crore.
Promoters’ stake was 75.00% as of 31 December 2021 ,compared to 75.00% as of 31 December 2020 .
Full year results analysis.
Net sales (including other operating income) of Glaxosmithkline Pharmaceuticals has declined 9.27% to Rs 2925.6 crore. Operating profit margin has declined from 20.38% to 20.22%, leading to 10.02% decline in operating profit to Rs 591.42 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 14.55% to 15.92%. Purchase of finished goods cost rose from 26.66% to 27.77%. Employee cost increased from 19.28% to 20.74%. Other expenses fell from 19.35% to 15.61%. Other income rose 39.96% to Rs 110.58 crore. PBIDT fell 4.65% to Rs 702 crore. Provision for interest fell 44.32% to Rs 3.53 crore. Loan funds declined from Rs 41.69 crore as of 31 March 2020 to Rs 34.62 crore as of 31 March 2021. Inventories rose to Rs 546.70 crore as of 31 March 2021 from Rs 483.03 crore as of 31 March 2020. Sundry debtors were higher at Rs 215.60 crore as of 31 March 2021 compared to Rs 99.80 crore as of 31 March 2020. Cash and bank balance rose to Rs 1,157.96 crore as of 31 March 2021 from Rs 1,083.20 crore as of 31 March 2020.
PBDT fell 4.31% to Rs 698.47 crore. Provision for depreciation fell 4.93% to Rs 78.6 crore. Fixed assets declined from Rs 828.58 crore as of 31 March 2020 to Rs 356.75 crore as of 31 March 2021. Intangible assets declined from Rs 49.62 crore to Rs 43.36 crore.
Profit before tax down 4.23% to Rs 619.87 crore. Share of profit/loss were nil in both the periods. Extraordinary items were increased to Rs -172.60 crore. Provision for tax was expense of Rs 166.07 crore, compared to Rs 212.55 crore. Effective tax rate was 37.13% compared to 69.52%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 201.72% to Rs 281.20 crore.
Equity capital stood at Rs 169.41 crore as of 31 March 2021 to Rs 169.41 crore as of 31 March 2020. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 75.00% as of 31 March 2021 ,compared to 75.00% as of 31 March 2020 .
Cash flow from operating activities increased to Rs 577.93 crore for year ended March 2021 from Rs 490.50 crore for year ended March 2020. Cash flow used in acquiring fixed assets during the year ended March 2021 stood at Rs 44.23 crore, compared to Rs 155.90 crore during the year ended March 2020.
Management Comments :
Sridhar
Venkatesh, Managing Director, GlaxoSmithKline Pharmaceuticals Limited, said,
"GSK`s established pharma portfolio recorded strong doubledigit growth,
driven by our core legacy brands such as Ca/pol, Augmentin and Ceftum. While
our promoted brands grew, our vaccines business was impacted on account of the
third wave of the pandemic. However, as this phase of the pandemic recedes and
schools open up across the country, we are witnessing a steady uptake in
vaccination. We also continue to invest in our brands and raise awareness
amongst parents about more innovative vaccines from our portfolio. During the
quarter, we concluded the sale of the Vemgal plant in Karnataka. In the
subsequent quarters, we will also aim to close the transfer of lodex and
Ostocalcium brands to GlaxoSmithKline Asia Private Limited, as part of GSK
pie`s plans to create two world class companies in pharmaceuticals and consumer
healthcare."