For
the quarter ending Dec 2023, standalone Net sales (including other operating income) of RPG Life Sciences has increased 17.69% to Rs 153.70 crore compared to quarter ended Dec 2022. Operating profit margin has jumped from 22.37% to 24.66%, leading to 29.75% rise in operating profit to Rs 37.90 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 15.14% to 16.92%. Purchase of finished goods cost fell from 18.98% to 11.23%. Employee cost increased from 21.15% to 22.94%. Other expenses rose from 22.90% to 23.11%. Other income up 276.47% to Rs 1.92 crore. PBIDT rose 33.98% to Rs 39.82 crore. Provision for interest up 100% to Rs 0.14 crore.
PBDT rose 33.83% to Rs 39.68 crore. Provision for depreciation rose 5.88% to Rs 4.14 crore.
Profit before tax grew 38.07% to Rs 35.54 crore. Provision for tax was expense of Rs 9.08 crore, compared to Rs 6.63 crore. Effective tax rate was 25.55% compared to 25.76%.
Profit after tax rose 38.46% to Rs 26.46 crore.
Promoters’ stake was 72.81% as of 31 December 2023 ,compared to 72.61% as of 31 December 2022 .
For year-to-date (YTD) results analysis
Net sales (including other operating income) of RPG Life Sciences has increased 15.40% to Rs 455.06 crore.
Operating profit margin has jumped from 22.01% to 23.61%, leading to 23.80% rise in operating profit to Rs 107.43 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 15.99% to 20.54%. Purchase of finished goods cost fell from 18.02% to 10.26%. Employee cost increased from 20.90% to 22.20%. Other expenses fell from 23.31% to 23.17%. Other income up 87.84% to Rs 5.56 crore. PBIDT rose 25.91% to Rs 112.99 crore. Provision for interest up 19.23% to Rs 0.31 crore.
PBDT rose 25.93% to Rs 112.68 crore. Provision for depreciation rose 8.35% to Rs 12.58 crore. Profit before tax grew 28.55% to Rs 100.10 crore. Provision for tax was expense of Rs 25.68 crore, compared to Rs 20.58 crore. Effective tax rate was 25.65% compared to 26.43%.Profit after tax rose 29.90% to Rs 74.42 crore. Promoters’ stake was 72.81% as of 31 December 2023 ,compared to 72.61% as of 31 December 2022 .
Full year results analysis
Net sales (including other operating income) of RPG Life Sciences has increased 16.51% to Rs 512.81 crore. Operating profit margin has jumped from 19.62% to 20.03%, leading to 18.91% rise in operating profit to Rs 102.69 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 18.94% to 16.56%. Purchase of finished goods cost rose from 16.95% to 17.70%. Employee cost increased from 21.48% to 22.51%. Other expenses fell from 24.07% to 23.49%. Other income up 60.54% to Rs 4.8 crore. PBIDT rose 20.30% to Rs 107.49 crore. Provision for interest fell 40.38% to Rs 0.31 crore. Loan funds declined from Rs 0.94 crore as of 31 March 2022 to Rs 0.01 crore as of 31 March 2023. Inventories rose to Rs 95.05 crore as of 31 March 2023 from Rs 82.99 crore as of 31 March 2022. Sundry debtors were higher at Rs 37.43 crore as of 31 March 2023 compared to Rs 32.99 crore as of 31 March 2022. Cash and bank balance declined from Rs 70.26 crore as of 31 March 2022 to Rs 57.04 crore as of 31 March 2023.
PBDT rose 20.66% to Rs 107.18 crore. Provision for depreciation down 1.02% to Rs 15.5 crore. Fixed assets increased to Rs 116.30 crore as of 31 March 2023 from Rs 100.09 crore as of 31 March 2022. Intangible assets declined from Rs 34.68 crore to Rs 33.40 crore.
Profit before tax grew 25.30% to Rs 91.68 crore. Provision for tax was expense of Rs 24.04 crore, compared to Rs 21.69 crore. Effective tax rate was 26.22% compared to 29.64%.
Profit after tax rose 31.39% to Rs 67.64 crore.
Promoters’ stake was 72.81% as of 31 March 2023 ,compared to 72.07% as of 31 March 2022 .
Cash flow from operating activities increased to Rs 90.82 crore for year ended March 2023 from Rs 64.75 crore for year ended March 2022. Cash flow used in acquiring fixed assets during the year ended March 2023 stood at Rs 32.73 crore, compared to Rs 23.95 crore during the year ended March 2022.
Management comments: M r. Yugal Sikri, Managing Director, RPG Life Sciences said, "In Q3 FY24, the overall performance of the Company
continued to be strong. Revenue and PBT grew by 18% and 38% respectively Y-o-Y. EBITDA margin retained its 5-year long
upward trajectory growing from 22.8% t o 25.9% Y-o-Y. The Company continues to remain debt-free.
We are well on course in executing all the tenets of our distinctive and smart Transformation agenda to achieve our strategic
goal of consistent healthy profitable growth. Our top priority, Domestic Formulations, the biggest contributor to the
Company`s business, recorded robust growth both in value and volume-significantly and consistently ahead of the market
basis its 5 pi llar-growth strategy. The comprehensive smart lif e cycle management program is shaping some of our `textbook`
legacy brands into mega brands and our niche specialty portfolio into mega portfolio. New launches in specialty and chronic
therapies are helping us to shape our Specialty business. We are now working on replicating our smart and successful
Rheumat ology portfolio entry strategy to enter other specialties like Gastro and Derma t o emerge as future growth drivers
of Domestic Formulations business. Our MABs portfolio is continuing to post robust performance. Salesforce productivity
continues to register healthy upward momentum, assisted by smart deployment of digita l.
We are now shaping our International Formulations and API business basis their own 5 pillars, the key being plants
modernization cum capacity expansion by infusion of capex and building a smart product pipeline to become strong future
growth drivers. International Formulations business has been registering healthy double-digit growth. Modernization of our
API Plant and building product pipeline, both current ly underway, will make API also our third engine of growth.
Our structural approach of cost optimization has helped us t o explore newer avenues in our operations on achieving cost
efficiencies and thereby helping us to maintain 5-year un-interrupted Y-o-Y margin expansion trajectory for the past 5
consecutive years."
| RPG Life Sciences : Standalone Results |
| Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202312 | 202212 | Var.(%) | 202312 | 202212 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 153.70 | 130.60 | 17.69 | 455.06 | 394.32 | 15.40 | 512.81 | 440.16 | 16.51 | | OPM (%) | 24.66 | 22.37 | 229 bps | 23.61 | 22.01 | 160 bps | 20.03 | 19.62 | 40 bps | | OP | 37.90 | 29.21 | 29.75 | 107.43 | 86.78 | 23.80 | 102.69 | 86.36 | 18.91 | | Other Inc. | 1.92 | 0.51 | 276.47 | 5.56 | 2.96 | 87.84 | 4.80 | 2.99 | 60.54 | | PBIDT | 39.82 | 29.72 | 33.98 | 112.99 | 89.74 | 25.91 | 107.49 | 89.35 | 20.30 | | Interest | 0.14 | 0.07 | 100.00 | 0.31 | 0.26 | 19.23 | 0.31 | 0.52 | -40.38 | | PBDT | 39.68 | 29.65 | 33.83 | 112.68 | 89.48 | 25.93 | 107.18 | 88.83 | 20.66 | | Depreciation | 4.14 | 3.91 | 5.88 | 12.58 | 11.61 | 8.35 | 15.5 | 15.66 | -1.02 | | PBT | 35.54 | 25.74 | 38.07 | 100.1 | 77.87 | 28.55 | 91.68 | 73.17 | 25.30 | | PBT before EO | 35.54 | 25.74 | 38.07 | 100.1 | 77.87 | 28.55 | 91.68 | 73.17 | 25.30 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 35.54 | 25.74 | 38.07 | 100.1 | 77.87 | 28.55 | 91.68 | 73.17 | 25.30 | | Taxation | 9.08 | 6.63 | 36.95 | 25.68 | 20.58 | 24.78 | 24.04 | 21.69 | 10.83 | | PAT | 26.46 | 19.11 | 38.46 | 74.42 | 57.29 | 29.90 | 67.64 | 51.48 | 31.39 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 26.46 | 19.11 | 38.46 | 74.42 | 57.29 | 29.90 | 67.64 | 51.48 | 31.39 | | EPS (Rs)* | 16.00 | 11.55 | 38.46 | 45.00 | 34.64 | 29.90 | 40.90 | 31.13 | 31.39 | | | * EPS is on current equity of Rs 13.23 crore, Face value of Rs 8, 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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