For
the quarter ending Dec 2022, consolidated Net sales (including other operating income) of Apollo Hospitals Enterprise has increased 17.17% to Rs 4263.58 crore compared to quarter ended Dec 2021. Sales of Healthcare Services segment has gone up 9.05% to Rs 2,207.08 crore (accounting for 51.60% of total sales). Sales of Clinics segment fell 0.58% to Rs 311.38 crore (accounting for 7.28% of total sales). Sales of others segment has gone up 10.38% to Rs 1.17 crore (accounting for 0.03% of total sales). Sales of Pharmacy Distribution segment has gone up 34.45% to Rs 1,757.82 crore (accounting for 41.10% of total sales). Inter-segment sales rose Rs 6.61 crore to Rs 13.87 crore. Profit before interest, tax and other unallocable items (PBIT) has slumped 19.65% to Rs 351.96 crore. PBIT of Healthcare Services segment rose 13.20% to Rs 432.44 crore (accounting for 122.87% of total PBIT). PBIT of Clinics reported loss of Rs 2.54 crore compared to profit of Rs 24.47 crore. PBIT of others segment fell 574.55% to Rs -3.71 crore (accounting for -1.05% of total PBIT). PBIT of Pharmacy Distribution reported loss of Rs 74.23 crore compared to profit of Rs 32.10 crore.
PBIT margin of Healthcare Services segment rose from 18.87% to 19.59%. PBIT margin of Clinics segment fell from 7.81% to 0.82%. PBIT margin of others segment fell from negative 51.89% to negative 317.09%. PBIT margin of Pharmacy Distribution segment fell from 2.46% to 4.22%. Overall PBIT margin fell from 12.02% to 8.23%.
Operating profit margin has declined from 16.13% to 11.85%, leading to 13.91% decline in operating profit to Rs 505.35 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 17.04% to 14.75%. Purchase of finished goods cost rose from 33.30% to 37.11%. Employee cost increased from 12.03% to 13.28%. Other expenses rose from 21.58% to 22.98%. Other income rose 106.18% to Rs 35.36 crore. PBIDT fell 10.50% to Rs 540.71 crore. Provision for interest rose 6.72% to Rs 99.96 crore.
PBDT fell 13.66% to Rs 440.75 crore. Provision for depreciation rose 2.95% to Rs 153.39 crore.
Profit before tax down 20.51% to Rs 287.36 crore. Provision for tax was expense of Rs 103.51 crore, compared to Rs 124.22 crore. Effective tax rate was 38.94% compared to 33.80%.
Minority interest decreased 40.52% to Rs 8.85 crore. Net profit attributable to owners of the company decreased 32.80% to Rs 153.46 crore. Promoters’ stake was 29.33% as of 31 December 2022 ,compared to 29.33% as of 31 December 2021 . Promoters pledged stake was 16.37% as of 31 December 2022 ,compared to 22.32% as of 31 December 2021 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Apollo Hospitals Enterprise has increased 10.74% to Rs 12310.25 crore. Sales of Healthcare Services segment has gone up 6.22% to Rs 6,515.71 crore (accounting for 52.77% of total sales). Sales of Clinics segment fell 8.06% to Rs 922.66 crore (accounting for 7.47% of total sales). Sales of others segment has gone up 9.78% to Rs 3.48 crore (accounting for 0.03% of total sales). Sales of Pharmacy Distribution segment has gone up 23.05% to Rs 4,905.30 crore (accounting for 39.73% of total sales). Inter-segment sales rose Rs 10.93 crore to Rs 36.90 crore. Profit before interest, tax and other unallocable items (PBIT) has slumped 14.16% to Rs 1,105.28 crore. PBIT of Healthcare Services segment rose 19.08% to Rs 1,260.77 crore (accounting for 114.07% of total PBIT). PBIT of Clinics segment fell 81.38% to Rs 16.63 crore (accounting for 1.50% of total PBIT). PBIT of others reported loss of Rs 10.01 crore compared to profit of Rs 1.26 crore. PBIT of Pharmacy Distribution reported loss of Rs 162.11 crore compared to profit of Rs 138.20 crore.
PBIT margin of Healthcare Services segment rose from 17.26% to 19.35%. PBIT margin of Clinics segment fell from 8.90% to 1.80%. PBIT margin of others segment fell from 39.75% to 287.64%. PBIT margin of Pharmacy Distribution segment fell from 3.47% to 3.30%. Overall PBIT margin fell from 11.57% to 8.95%.
Operating profit margin has declined from 15.49% to 12.68%, leading to 9.32% decline in operating profit to Rs 1,561.46 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 18.93% to 14.56%. Purchase of finished goods cost rose from 33.14% to 37.02%. Employee cost increased from 11.98% to 12.59%. Other expenses rose from 20.54% to 23.16%. Other income rose 56.03% to Rs 73.99 crore. PBIDT fell 7.57% to Rs 1635.45 crore. Provision for interest rose 0.58% to Rs 285.38 crore.
PBDT fell 9.12% to Rs 1350.07 crore. Provision for depreciation rose 5.04% to Rs 456.18 crore.
Profit before tax down 14.97% to Rs 893.89 crore. Provision for tax was expense of Rs 148.24 crore, compared to Rs 338.35 crore. Effective tax rate was 17.50% compared to 25.07%.Minority interest decreased 46.88% to Rs 24.37 crore. Net profit attributable to owners of the company decreased 30.13% to Rs 674.56 crore.
Promoters’ stake was 29.33% as of 31 December 2022 ,compared to 29.33% as of 31 December 2021 . Promoters pledged stake was 16.37% as of 31 December 2022 ,compared to 22.32% as of 31 December 2021 .
Full year results analysis.
Net sales (including other operating income) of Apollo Hospitals Enterprise has increased 38.85% to Rs 14662.64 crore. Sales of Healthcare Services segment has gone up 59.53% to Rs 8,013.19 crore (accounting for 54.59% of total sales). Sales of Clinics segment rose 90.71% to Rs 1,300.24 crore (accounting for 8.86% of total sales). Sales of others segment has gone up 0.96% to Rs 4.22 crore (accounting for 0.03% of total sales). Sales of Pharmacy Distribution segment has gone up 105.70% to Rs 5,360.98 crore (accounting for 36.52% of total sales). Inter-segment sales came down from Rs 25.01 crore to Rs 15.99 crore. Profit before interest, tax and other unallocable items (PBIT) has jumped 180.79% to Rs 1,584.43 crore. PBIT of Healthcare Services segment rose 362.34% to Rs 1,330.47 crore (accounting for 83.97% of total PBIT). PBIT of Clinics reported profit of Rs 102.33 crore compared to loss of Rs 10.69 crore. PBIT of others reported profit of Rs 5.02 crore compared to loss of Rs 3.24 crore. PBIT of Pharmacy Distribution segment rose 3.85% to Rs 146.61 crore (accounting for 9.25% of total PBIT).
PBIT margin of Healthcare Services segment rose from 5.73% to 16.60%. PBIT margin of Clinics segment rose from negative 1.57% to 7.87%. PBIT margin of others segment rose from negative 77.51% to 118.96%. PBIT margin of Pharmacy Distribution segment fell from 5.42% to 2.73%. Overall PBIT margin rose from 5.33% to 10.79%.
Operating profit margin has jumped from 10.77% to 14.90%, leading to 92.11% rise in operating profit to Rs 2,185.12 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 15.19% to 18.22%. Purchase of finished goods cost fell from 39.18% to 33.67%. Employee cost decreased from 14.98% to 12.12%. Other expenses rose from 20.00% to 21.16%. Other income rose 73.68% to Rs 78.14 crore. PBIDT rose 91.41% to Rs 2263.26 crore. Provision for interest fell 15.71% to Rs 378.64 crore. Loan funds declined from Rs 4,159.92 crore as of 31 March 2021 to Rs 4,068.12 crore as of 31 March 2022. Inventories rose to Rs 431.77 crore as of 31 March 2022 from Rs 249.48 crore as of 31 March 2021. Sundry debtors were higher at Rs 1,767.60 crore as of 31 March 2022 compared to Rs 1,331.12 crore as of 31 March 2021. Cash and bank balance rose to Rs 1,035.87 crore as of 31 March 2022 from Rs 724.40 crore as of 31 March 2021. Investments declined from Rs 1,342.66 crore as of 31 March 2021 to Rs 779.58 crore as of 31 March 2022.
PBDT rose 157.05% to Rs 1884.62 crore. Provision for depreciation rose 4.81% to Rs 600.7 crore. Fixed assets increased to Rs 7,401.02 crore as of 31 March 2022 from Rs 6,636.87 crore as of 31 March 2021. Intangible assets increased from Rs 375.32 crore to Rs 939.91 crore.
Profit before tax grew 702.20% to Rs 1,283.92 crore. Share of profit/loss was 854.55% higher at Rs 7.35 crore. Extraordinary items were increased to Rs 294.11 crore. Provision for tax was expense of Rs 477.02 crore, compared to Rs 84.7 crore. Effective tax rate was 30.09% compared to 38.24%.
Net profit attributable to owners of the company increased 602.06% to Rs 1,055.61 crore.
Equity capital stood at Rs 71.89 crore as of 31 March 2022 to Rs 71.89 crore as of 31 March 2021. Per share face Value remained same at Rs 5.00.
Promoters’ stake was 29.33% as of 31 March 2022 ,compared to 29.82% as of 31 March 2021 . Promoters pledged stake was 16.37% as of 31 March 2022 ,compared to 27.94% as of 31 March 2021 .
Cash flow from operating activities increased to Rs 1,615.65 crore for year ended March 2022 from Rs 1,273.48 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 657.17 crore, compared to Rs 295.49 crore during the year ended March 2021.
Other Highlights
Board
declared interim dividend of Rs 6 per share, representing 120% of face value of
Rs 5 per share for financial year ending 31st March 2023. Record
date fixed for the purpose is 24th Feb 2023.
Company’s