For
the quarter ending March 2024, standalone net sales (including other operating income) of Sanofi India has declined 0.56% to Rs 732.40 crore compared to quarter ended March 2023. Operating profit margin has declined from 31.22% to 29.89%, leading to 4.78% decline in operating profit to Rs 218.90 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 18.46% to 23.62%. Purchase of finished goods cost fell from 26.74% to 6.71%. Employee cost increased from 11.65% to 15.18%. Other expenses rose from 13.98% to 18.52%. Other income fell 74.81% to Rs 6.5 crore. PBIDT fell 11.85% to Rs 225.4 crore. Provision for interest remained nil.
PBDT fell 11.86% to Rs 225.1 crore. Provision for depreciation rose 3.09% to Rs 10 crore.
Profit before tax down 12.45% to Rs 215.10 crore. Provision for tax was expense of Rs 51.8 crore, compared to Rs 73.1 crore. Effective tax rate was 27.49% compared to 27.74%.
Profit after tax fell 28.26% to Rs 136.60 crore.
Promoters’ stake was 60.40% as of 31 March 2024 ,compared to 60.40% as of 31 March 2023 .
Full year results analysis
Net sales (including other operating income) of Sanofi India has increased 2.92% to Rs 2,851.10 crore. Operating profit margin has jumped from 25.43% to 28.20%, leading to 14.14% rise in operating profit to Rs 804.00 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 19.76% to 17.95%. Purchase of finished goods cost rose from 23.41% to 29.55%. Employee cost decreased from 14.59% to 11.79%. Other expenses fell from 16.91% to 15.13%. Other income fell 8.67% to Rs 65.3 crore. PBIDT rose 12.04% to Rs 869.3 crore. Provision for interest remained nil. Loan funds declined from Rs 23.60 crore as of 31 December 2022 to Rs 19.00 crore as of 31 December 2023. Inventories rose to Rs 663.80 crore as of 31 December 2023 from Rs 408.00 crore as of 31 December 2022. Sundry debtors were higher at Rs 131.70 crore as of 31 December 2023 compared to Rs 129.10 crore as of 31 December 2022. Cash and bank balance declined from Rs 1,016.90 crore as of 31 December 2022 to Rs 404.90 crore as of 31 December 2023.
PBDT rose 12.06% to Rs 867.6 crore. Provision for depreciation down 5.49% to Rs 39.6 crore. Fixed assets declined from Rs 324.00 crore as of 31 December 2022 to Rs 323.30 crore as of 31 December 2023. Intangible assets increased from Rs 5.10 crore to Rs 7.50 crore.
Profit before tax grew 13.07% to Rs 828.00 crore. Extraordinary items were decreased to Rs 17.80 crore. Provision for tax was expense of Rs 242.6 crore, compared to Rs 243.7 crore. Effective tax rate was 28.68% compared to 28.20%.
Profit after tax fell 2.80% to Rs 603.20 crore.
Promoters’ stake was 60.40% as of 31 December 2023 ,compared to 60.40% as of 31 December 2022 .
Cash flow from operating activities decreased to Rs 230.80 crore for year ended December 2023 from Rs 398.70 crore for year ended December 2022. Cash flow used in acquiring fixed assets during the year ended December 2023 stood at Rs 10.00 crore, compared to Rs 13.10 crore during the year ended December 2022.
| Sanofi India : Standalone Results |
| Quarter ended | Year ended |
|---|
| Particulars | 202403 | 202303 | Var.(%) | 202312 | 202212 | Var.(%) |
|---|
| Net Sales (including other operating income) | 732.40 | 736.50 | -0.56 | 2,851.10 | 2,770.10 | 2.92 | | OPM (%) | 29.89 | 31.22 | -133 bps | 28.20 | 25.43 | 277 bps | | OP | 218.90 | 229.90 | -4.78 | 804.00 | 704.40 | 14.14 | | Other Inc. | 6.50 | 25.80 | -74.81 | 65.30 | 71.50 | -8.67 | | PBIDT | 225.40 | 255.70 | -11.85 | 869.30 | 775.90 | 12.04 | | Interest | 0.3 | 0.3 | 0.00 | 1.7 | 1.7 | 0.00 | | PBDT | 225.10 | 255.40 | -11.86 | 867.60 | 774.20 | 12.06 | | Depreciation | 10 | 9.7 | 3.09 | 39.6 | 41.9 | -5.49 | | PBT | 215.10 | 245.70 | -12.45 | 828 | 732.3 | 13.07 | | PBT before EO | 215.1 | 245.7 | -12.45 | 828 | 732.3 | 13.07 | | EO Income | -26.7 | 17.8 | PL | 17.8 | 132 | -86.52 | | PBT after EO | 188.4 | 263.5 | -28.50 | 845.8 | 864.3 | -2.14 | | Taxation | 51.8 | 73.1 | -29.14 | 242.6 | 243.7 | -0.45 | | PAT | 136.6 | 190.4 | -28.26 | 603.2 | 620.6 | -2.80 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 136.6 | 190.4 | -28.26 | 603.2 | 620.6 | -2.80 | | EPS (Rs)* | 67.72 | 77.09 | -12.16 | 256.41 | 228.32 | 12.30 | | | * EPS is on current equity of Rs 23.03 crore, Face value of Rs 10, 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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