For
the quarter ending June 2022, consolidated net sales (including other operating income) of Alkem Laboratories has declined 5.67% to Rs 2576.38 crore compared to quarter ended june 2021.Operating profit margin has declined from 21.71% to 7.89%, leading to 65.72% decline in operating profit to Rs 203.24 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 27.93% to 28.02%. Purchase of finished goods cost fell from 12.78% to 12.06%. Employee cost increased from 19.27% to 21.53%. Other expenses rose from 18.55% to 30.17%. Other income rose 10.20% to Rs 51.41 crore. PBIDT fell 60.18% to Rs 254.65 crore. Provision for interest rose 106.07% to Rs 26.5 crore.
PBDT fell 63.59% to Rs 228.15 crore. Provision for depreciation rose 8.12% to Rs 76.26 crore.
Profit before tax down 72.69% to Rs 151.89 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 20.44 crore, compared to Rs 75.89 crore. Effective tax rate was 13.46% compared to 13.65%.
Minority interest decreased 68.54% to Rs 3.81 crore. Net profit attributable to owners of the company decreased 72.73% to Rs 127.64 crore. Promoters’ stake was 57.14% as of 30 June 2022 ,compared to 58.84% as of 30 June 2021 .
Full year results analysis.
Net sales (including other operating income) of Alkem Laboratories has increased 19.96% to Rs 10634.19 crore. Operating profit margin has declined from 21.91% to 19.30%, leading to 5.69% rise in operating profit to Rs 2,052.92 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 26.03% to 28.88%. Purchase of finished goods cost fell from 15.63% to 13.34%. Employee cost decreased from 17.62% to 17.57%. Other expenses rose from 19.60% to 21.83%. Other income fell 30.26% to Rs 162.65 crore. PBIDT rose 1.84% to Rs 2215.57 crore. Provision for interest fell 11.12% to Rs 52.37 crore. Loan funds rose to Rs 2,601.72 crore as of 31 March 2022 from Rs 1,722.27 crore as of 31 March 2021. Inventories rose to Rs 3,005.53 crore as of 31 March 2022 from Rs 2,312.44 crore as of 31 March 2021. Sundry debtors were higher at Rs 1,884.60 crore as of 31 March 2022 compared to Rs 1,607.21 crore as of 31 March 2021. Cash and bank balance rose to Rs 2,578.58 crore as of 31 March 2022 from Rs 1,990.45 crore as of 31 March 2021. Investments rose to Rs 370.98 crore as of 31 March 2022 from Rs 332.78 crore as of 31 March 2021 .
PBDT rose 2.20% to Rs 2163.2 crore. Provision for depreciation rose 10.70% to Rs 303.96 crore. Fixed assets declined from Rs 2,790.87 crore as of 31 March 2021 to Rs 2,626.58 crore as of 31 March 2022. Intangible assets increased from Rs 395.39 crore to Rs 614.63 crore.
Profit before tax grew 0.93% to Rs 1,859.24 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 163.96 crore, compared to Rs 224.33 crore. Effective tax rate was 8.89% compared to 12.18%.
Minority interest increased 5.95% to Rs 34.70 crore. Net profit attributable to owners of the company increased 3.82% to Rs 1,645.62 crore.
Equity capital stood at Rs 23.91 crore as of 31 March 2022 to Rs 23.91 crore as of 31 March 2021. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 57.14% as of 31 March 2022 ,compared to 60.16% as of 31 March 2021 .
Cash flow from operating activities decreased to Rs 1,111.02 crore for year ended March 2022 from Rs 1,264.90 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 338.88 crore, compared to Rs 194.91 crore during the year ended March 2021.
Other Highlights
In
Q1 FY23, India sales degrew 5.7% and International sales down by 3.8% compared
to Q1 FY22.
R&D
expenses for the quarter was Rs 132 crore representing 5.1% of total revenue
from operations.
In
Q1 FY23, India sales contributed 70.1% to total sales, US sales contributed
21.9% and Other International Market sales contributed 8%.
During the quarter, the Company filed 3
abbreviated new drug applications (ANDAs) with the US FDA and received 4
approvals (including 1 tentative approval).