For the
quarter ending March 2022, consolidated net sales (including other operating income) of Dr Lal Pathlabs has increased 2.67% to Rs 414.90 crore compared to quarter ended march 2021.
Operating profit margin has declined from 28.06% to 25.26%, leading to 7.58% decline in operating profit to Rs 104.80 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 23.88% to 22.01%. Employee cost increased from 17.62% to 19.33%. Other expenses rose from 30.44% to 33.41%. Selling and administration expenses rose from 14.15% to 14.92%. Other income fell 1.53% to Rs 12.9 crore. PBIDT fell 6.96% to Rs 117.7 crore. Provision for interest up 184.62% to Rs 11.1 crore. Loan funds rose to Rs 505.10 crore as of 31 March 2022 from Rs 141.30 crore as of 31 March 2021. Inventories rose to Rs 39.80 crore as of 31 March 2022 from Rs 38.90 crore as of 31 March 2021. Sundry debtors were higher at Rs 66.70 crore as of 31 March 2022 compared to Rs 63.50 crore as of 31 March 2021. Cash and bank balance declined from Rs 888.70 crore as of 31 March 2021 to Rs 540.60 crore as of 31 March 2022. Investments rose to Rs 1,069.00 crore as of 31 March 2022 from Rs 170.60 crore as of 31 March 2021 . PBDT fell 13.05% to Rs 106.6 crore. Provision for depreciation rose 20.11% to Rs 21.5 crore. Fixed assets increased to Rs 365.80 crore as of 31 March 2022 from Rs 288.70 crore as of 31 March 2021. Intangible assets declined from Rs 20.40 crore to Rs 18.70 crore. Profit before tax down 18.72% to Rs 85.10 crore. Provision for tax was expense of Rs 19.9 crore, compared to Rs 26 crore. Effective tax rate was 23.38% compared to 24.83%. Profit after tax fell 17.15% to Rs 65.20 crore. Equity capital stood at Rs 83.30 crore as of 31 March 2022 to Rs 83.30 crore as of 31 March 2021. Per share face Value remained same at Rs 10.00. Promoters’ stake was 55.23% as of 31 March 2022 ,compared to 55.23% as of 31 March 2021 .
Full year results analysis
Net sales (including other operating income) of Dr Lal Pathlabs has increased 25.64% to Rs 1,872.70 crore. Operating profit margin has declined from 27.33% to 27.24%, leading to 25.23% rise in operating profit to Rs 510.20 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 25.09% to 23.83%. Employee cost decreased from 17.27% to 17.10%. Other expenses rose from 30.31% to 31.83%. Selling and administration expenses rose from 13.47% to 14.62%. Other income up 3.31% to Rs 53 crore. PBIDT rose 22.78% to Rs 563.2 crore. Provision for interest up 92.57% to Rs 28.5 crore. Loan funds rose to Rs 505.10 crore as of 31 March 2022 from Rs 141.30 crore as of 31 March 2021. Inventories rose to Rs 39.80 crore as of 31 March 2022 from Rs 38.90 crore as of 31 March 2021. Sundry debtors were higher at Rs 66.70 crore as of 31 March 2022 compared to Rs 63.50 crore as of 31 March 2021. Cash and bank balance declined from Rs 888.70 crore as of 31 March 2021 to Rs 540.60 crore as of 31 March 2022. Investments rose to Rs 1,069.00 crore as of 31 March 2022 from Rs 170.60 crore as of 31 March 2021 . PBDT rose 20.46% to Rs 534.7 crore. Provision for depreciation rose 7.88% to Rs 75.3 crore. Fixed assets increased to Rs 365.80 crore as of 31 March 2022 from Rs 288.70 crore as of 31 March 2021. Intangible assets declined from Rs 20.40 crore to Rs 18.70 crore. Profit before tax grew 22.80% to Rs 459.40 crore. Provision for tax was expense of Rs 115.3 crore, compared to Rs 94 crore. Effective tax rate was 25.10% compared to 25.13%. Profit after tax rose 22.85% to Rs 344.10 crore. Equity capital stood at Rs 83.30 crore as of 31 March 2022 to Rs 83.30 crore as of 31 March 2021. Per share face Value remained same at Rs 10.00. Promoters’ stake was 55.23% as of 31 March 2022 ,compared to 55.23% as of 31 March 2021 . Cash flow from operating activities increased to Rs 423.80 crore for year ended March 2022 from Rs 373.40 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 68.60 crore, compared to Rs 35.00 crore during the year ended March 2021.
Other Highlights
Board recommendation of
final dividend of Rs 6 per equity share (60%) on a face value of Rs 10 per
share for the year ended March 31, 2022. Board has fixed June 23, 2022 as the
Record Date for the purpose of payment of Final Dividend for Financial Year
2021-22.
Covid and Allied contributed
13.6% to Revenue in Q4 FY22.
In Q4 FY22, non-COVID
business grew by 12.7% on YoY basis and Covid & Allied business grew 15.7%
on YoY.
In FY22, non-COVID business
grew by 34.5% on YoY basis and Covid & Allied business grew 22.2% on YoY.
| Dr Lal Pathlabs : Standalone Results | | Quarter ended | Year ended |
|---|
| Particulars | 202203 | 202103 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 414.90 | 404.10 | 2.67 | 1,872.70 | 1,490.50 | 25.64 | | OPM (%) | 25.26 | 28.06 | -280 bps | 27.24 | 27.33 | -9 bps | | OP | 104.80 | 113.40 | -7.58 | 510.20 | 407.40 | 25.23 | | Other Inc. | 12.90 | 13.10 | -1.53 | 53.00 | 51.30 | 3.31 | | PBIDT | 117.70 | 126.50 | -6.96 | 563.20 | 458.70 | 22.78 | | Interest | 11.1 | 3.9 | 184.62 | 28.5 | 14.8 | 92.57 | | PBDT | 106.60 | 122.60 | -13.05 | 534.70 | 443.90 | 20.46 | | Depreciation | 21.5 | 17.9 | 20.11 | 75.3 | 69.8 | 7.88 | | PBT | 85.10 | 104.70 | -18.72 | 459.4 | 374.1 | 22.80 | | PBT before EO | 85.1 | 104.7 | -18.72 | 459.4 | 374.1 | 22.80 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 85.1 | 104.7 | -18.72 | 459.4 | 374.1 | 22.80 | | Taxation | 19.9 | 26 | -23.46 | 115.3 | 94 | 22.66 | | PAT | 65.2 | 78.7 | -17.15 | 344.1 | 280.1 | 22.85 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 65.2 | 78.7 | -17.15 | 344.1 | 280.1 | 22.85 | | EPS (Rs)* | 7.82 | 9.44 | -17.15 | 41.28 | 33.60 | 22.85 | | | * EPS is on current equity of Rs 83.35 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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