For
the quarter ending Dec 2022, consolidated Net sales (including other operating income) of Dr Lal Pathlabs has declined 1.51% to Rs 489.4 crore compared to quarter ended Dec 2021. Operating profit margin has jumped from 21.98% to 23.09%, leading to 3.48% rise in operating profit to Rs 113.00 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 23.93% to 22.66%. Employee cost increased from 19.58% to 19.68%. Other expenses rose from 34.51% to 34.57%. Selling and administration expenses rose from 12.94% to 14.16%. Other income fell 13.22% to Rs 10.5 crore. PBIDT rose 1.81% to Rs 123.5 crore.
PBDT rose 1.96% to Rs 114.4 crore. Provision for depreciation rose 23.45% to Rs 37.9 crore.
Profit before tax down 6.13% to Rs 76.50 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 22.9 crore, compared to Rs 23.3 crore. Effective tax rate was 29.93% compared to 28.59%.
Minority interest decreased 22.22% to Rs 0.70 crore. Net profit attributable to owners of the company decreased 7.68% to Rs 52.90 crore. Promoters’ stake was 55.05% as of 31 December 2022 ,compared to 55.23% as of 31 December 2021 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Dr Lal Pathlabs has declined 4.74% to Rs 1525.9 crore.
Operating profit margin has declined from 27.44% to 24.53%, leading to 14.85% decline in operating profit to Rs 374.30 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 24.25% to 22.37%. Employee cost increased from 16.69% to 18.61%. Other expenses rose from 31.62% to 34.49%. Selling and administration expenses fell from 14.13% to 13.97%. Other income fell 32.10% to Rs 27.5 crore. PBIDT fell 16.31% to Rs 401.8 crore. Provision for interest rose 55.74% to Rs 28.5 crore.
PBDT fell 19.16% to Rs 373.3 crore. Provision for depreciation rose 59.94% to Rs 112.6 crore.
Profit before tax down 33.39% to Rs 260.70 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 76.5 crore, compared to Rs 103.2 crore. Effective tax rate was 29.34% compared to 26.37%.Minority interest decreased 57.45% to Rs 2.00 crore. Net profit attributable to owners of the company decreased 35.73% to Rs 182.20 crore.
Promoters’ stake was 55.05% as of 31 December 2022 ,compared to 55.23% as of 31 December 2021 .
Full year results analysis.
Net sales (including other operating income) of Dr Lal Pathlabs has increased 32.01% to Rs 2087.4 crore. Operating profit margin has declined from 27.59% to 26.86%, leading to 28.51% rise in operating profit to Rs 560.70 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 25.12% to 24.06%. Employee cost increased from 17.31% to 17.48%. Other expenses rose from 29.98% to 31.59%. Selling and administration expenses rose from 12.92% to 13.63%. Other income rose 2.34% to Rs 52.5 crore. PBIDT rose 25.76% to Rs 613.2 crore. Provision for interest rose 88.75% to Rs 30.2 crore. Loan funds rose to Rs 393.80 crore as of 31 March 2022 from Rs 40.30 crore as of 31 March 2021. Inventories rose to Rs 52.40 crore as of 31 March 2022 from Rs 42.60 crore as of 31 March 2021. Sundry debtors were higher at Rs 85.40 crore as of 31 March 2022 compared to Rs 66.70 crore as of 31 March 2021. Cash and bank balance declined from Rs 926.00 crore as of 31 March 2021 to Rs 617.60 crore as of 31 March 2022. Investments rose to Rs 65.50 crore as of 31 March 2022 from Rs 59.30 crore as of 31 March 2021 .
PBDT rose 23.62% to Rs 583 crore. Provision for depreciation rose 40.03% to Rs 108.1 crore. Fixed assets increased to Rs 840.40 crore as of 31 March 2022 from Rs 371.50 crore as of 31 March 2021. Intangible assets increased from Rs 85.40 crore to Rs 549.90 crore.
Profit before tax grew 20.41% to Rs 474.90 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 124.6 crore, compared to Rs 97.9 crore. Effective tax rate was 26.24% compared to 24.82%.
Minority interest increased 12.24% to Rs 5.50 crore. Net profit attributable to owners of the company increased 18.24% to Rs 344.80 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 446.70 crore for year ended March 2022 from Rs 398.20 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 476.10 crore, compared to Rs 59.60 crore during the year ended March 2021.
Other Highlights
Covid and Allied
contributed 2% to Revenue in Q3 FY23.
In Q3 FY23, non-COVID
business grew by 9.1% on YoY basis and Covid & Allied business fell by 80.4%
on YoY.
During 9M FY23, non-COVID
business grew by 15.9% on YoY basis and Covid & Allied business fell by
84.2% on YoY.