For
the quarter ending june 2022, consolidated net sales (including other operating income) of Ajanta Pharma has increased 27.13% to Rs 950.93 crore compared to quarter ended june 2021. Operating profit margin has declined from 29.44% to 23.32%, leading to 0.70% rise in operating profit to Rs 221.76 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 23.40% to 21.62%. Purchase of finished goods cost fell from 4.56% to 4.05%. Employee cost increased from 19.75% to 20.28%. Other expenses rose from 24.76% to 29.47%. Other income rose 0.40% to Rs 32.76 crore. PBIDT rose 0.66% to Rs 254.52 crore. Provision for interest fell 41.72% to Rs 0.88 crore.
PBDT rose 0.92% to Rs 253.64 crore. Provision for depreciation rose 2.91% to Rs 31.78 crore.
Profit before tax grew 0.64% to Rs 221.86 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 47.24 crore, compared to Rs 46.7 crore. Effective tax rate was 21.29% compared to 21.18%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 0.50% to Rs 174.62 crore. Promoters’ stake was 70.48% as of 30 June 2022 ,compared to 70.34% as of 30 June 2021 . Promoters pledged stake was 20.09% as of 30 June 2022 ,compared to 14.95% as of 30 June 2021 .
Full year results analysis.
Net sales (including other operating income) of Ajanta Pharma has increased 15.62% to Rs 3340.99 crore. Operating profit margin has declined from 34.56% to 27.82%, leading to 6.94% decline in operating profit to Rs 929.30 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 23.23% to 22.76%. Purchase of finished goods cost rose from 2.94% to 3.97%. Employee cost increased from 18.03% to 18.86%. Other expenses rose from 22.95% to 27.27%. Other income rose 345.27% to Rs 115.68 crore. PBIDT rose 2% to Rs 1044.98 crore. Provision for interest rose 23.34% to Rs 10.2 crore. Loan funds declined from Rs 31.36 crore as of 31 March 2021 to Rs 25.03 crore as of 31 March 2022. Inventories rose to Rs 791.07 crore as of 31 March 2022 from Rs 766.47 crore as of 31 March 2021. Sundry debtors were higher at Rs 1,019.81 crore as of 31 March 2022 compared to Rs 738.43 crore as of 31 March 2021. Cash and bank balance rose to Rs 211.79 crore as of 31 March 2022 from Rs 209.61 crore as of 31 March 2021. Investments declined from Rs 175.67 crore as of 31 March 2021 to Rs 146.96 crore as of 31 March 2022.
PBDT rose 1.82% to Rs 1034.78 crore. Provision for depreciation rose 7.93% to Rs 125.3 crore. Fixed assets increased to Rs 1,655.83 crore as of 31 March 2022 from Rs 1,638.51 crore as of 31 March 2021. Intangible assets declined from Rs 10.79 crore to Rs 9.02 crore.
Profit before tax grew 1.03% to Rs 909.48 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 196.8 crore, compared to Rs 246.31 crore. Effective tax rate was 21.64% compared to 27.36%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 8.99% to Rs 712.68 crore.
Equity capital decreased from Rs 17.39 crore as of 31 March 2021 to Rs 17.17 crore as of 31 March 2022 . Per share face Value remained same at Rs 2.00.
Promoters’ stake was 70.48% as of 31 March 2022 ,compared to 70.34% as of 31 March 2021 . Promoters pledged stake was 16.60% as of 31 March 2022 ,compared to 15.49% as of 31 March 2021 .
Cash flow from operating activities decreased to Rs 562.05 crore for year ended March 2022 from Rs 576.31 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 148.84 crore, compared to Rs 171.61 crore during the year ended March 2021.
Other Highlights
In
Q1 FY23, India sales went up 22% compared to Q1 FY22. Exports sales grew 30%, Emerging
market branded generic sales grew 41%, US Generic grew 6% and Africa Institution
sales grew 44% on YoY basis.
During
Q1 FY23, R&D expenses were Rs 54 crore compared to Rs 45 Crore in Q1 FY 22.
In
Q1 FY23, USA contributed 27% of total export sales, Asia branded 38%, Africa
branded 25% and Africa institution 12%.