Net sales (including other operating income) of Ipca Laboratories has increased 34.49% to Rs 2033.01 crore compared to quarter ended March 2023. Operating profit margin has jumped from 11.98% to 15.83%, leading to 77.81% rise in operating profit to Rs 321.90 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 28.85% to 27.96%. Purchase of finished goods cost fell from 6.88% to 5.37%. Employee cost increased from 22.86% to 23.06%. Other expenses fell from 28.78% to 27.67%. Other income fell 48.01% to Rs 18.92 crore. PBIDT rose 56.75% to Rs 340.82 crore. Provision for interest rose 59.19% to Rs 29.37 crore. Loan funds declined from Rs 1,481.27 crore as of 31 March 2023 to Rs 1,438.36 crore as of 31 March 2024. Inventories rose to Rs 2,469.56 crore as of 31 March 2024 from Rs 1,743.37 crore as of 31 March 2023. Sundry debtors were higher at Rs 1,686.51 crore as of 31 March 2024 compared to Rs 989.02 crore as of 31 March 2023. Cash and bank balance declined from Rs 1,853.24 crore as of 31 March 2023 to Rs 296.84 crore as of 31 March 2024. Investments rose to Rs 862.01 crore as of 31 March 2024 from Rs 625.98 crore as of 31 March 2023 .
PBDT rose 56.52% to Rs 311.45 crore. Provision for depreciation rose 41.11% to Rs 98.13 crore. Fixed assets increased to Rs 4,663.24 crore as of 31 March 2024 from Rs 2,853.67 crore as of 31 March 2023. Intangible assets increased from Rs 38.14 crore to Rs 233.18 crore.
Profit before tax grew 64.80% to Rs 213.32 crore. Share of profit/loss was 46.08% higher at Rs -1.58 crore. Provision for tax was expense of Rs 73.69 crore, compared to Rs 48.37 crore. Effective tax rate was 98.23% compared to 38.23%.
Net profit attributable to owners of the company decreased 22.12% to Rs 59.59 crore. Equity capital stood at Rs 25.37 crore as of 31 March 2024 to Rs 25.37 crore as of 31 March 2023. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 46.30% as of 31 March 2024 ,compared to 46.29% as of 31 March 2023 .
Full year results analysis.
Net sales (including other operating income) of Ipca Laboratories has increased 23.39% to Rs 7705.04 crore. Operating profit margin has jumped from 14.84% to 17.15%, leading to 42.56% rise in operating profit to Rs 1,321.16 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 27.81% to 28.28%. Purchase of finished goods cost fell from 8.09% to 6.25%. Employee cost increased from 20.96% to 21.80%. Other expenses fell from 28.05% to 26.80%. Other income fell 0.68% to Rs 124.77 crore. PBIDT rose 37.39% to Rs 1445.93 crore. Provision for interest rose 203.62% to Rs 138.27 crore. Loan funds declined from Rs 1,481.27 crore as of 31 March 2023 to Rs 1,438.36 crore as of 31 March 2024. Inventories rose to Rs 2,469.56 crore as of 31 March 2024 from Rs 1,743.37 crore as of 31 March 2023. Sundry debtors were higher at Rs 1,686.51 crore as of 31 March 2024 compared to Rs 989.02 crore as of 31 March 2023. Cash and bank balance declined from Rs 1,853.24 crore as of 31 March 2023 to Rs 296.84 crore as of 31 March 2024. Investments rose to Rs 862.01 crore as of 31 March 2024 from Rs 625.98 crore as of 31 March 2023 .
PBDT rose 29.88% to Rs 1307.66 crore. Provision for depreciation rose 36.58% to Rs 357.24 crore. Fixed assets increased to Rs 4,663.24 crore as of 31 March 2024 from Rs 2,853.67 crore as of 31 March 2023. Intangible assets increased from Rs 38.14 crore to Rs 233.18 crore.
Profit before tax grew 27.52% to Rs 950.42 crore. Share of profit/loss was 51.39% higher at Rs -6.29 crore. Provision for tax was expense of Rs 313.46 crore, compared to Rs 253.36 crore. Effective tax rate was 37.48% compared to 34.60%.
Net profit attributable to owners of the company increased 16.13% to Rs 547.35 crore.
Equity capital stood at Rs 25.37 crore as of 31 March 2024 to Rs 25.37 crore as of 31 March 2023. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 46.30% as of 31 March 2024 ,compared to 46.29% as of 31 March 2023 .
Other Highlights
The Board has recommended a final dividend
of Rs 2 per share for the financial year ended 31st March, 2024.
In Q4 FY24,
Exports went up 7%, Indian formulations rose 13% compared to Q4 FY23.