The Company Standalone Sales declined by 4% YoY in Q4'CY13 to Rs 637.25 crore impacted by the unwillingness of a segment of the trade to buy the company's products. Notably, margins fell by whopping 1110 bps YoY to 18.6% and accordingly Operating profit fell by sharp 40% YoY to Rs 118.24 crore. After the higher other income (13%), With EO gain and lower effective tax rate (down by 160 bps YoY to 30.7%) despite higher depreciation (26%), Profit after Tax fell by 16% YoY to Rs 116.88 crore.

During the year, the Company added new products across therapeutic areas. The company launched XGEVA, a first and only RANK Ligand inhibitor approved for the prevention of skeletal related events in patients with advanced malignancies involving bone in the oncology portfolio; Physiogel lotion & cream, a hypoallergenic, moisturizing lotion that helps in revitalizing the skin and gives protection and relief from dry, sensitive & itchy skin conditions; Acne-Aid Wash, a facial cleansing foam for oily & acne prone skin and Avamys, a fluticasone furoate nasal spray for seasonal and perennial allergic rhinitis.

• Sales decline by 4%, OP fell by sharp 40%: The Sales declined by 4% YoY to Rs 637.25 crore for the quarter ended December 2013 impacted by the unwillingness of a segment of the trade to buy the company's products. Also, Operating profit margins fell by whopping 1120 bps YoY to 18.6% on the back of sharp rise in consumption cost (up by 710 bps YoY) coupled with increase in staff cost (up by 240 bps YoY) and other expenses (up by 200 bps YoY) as percentage to Sales and net of stock adjustments. Eventually, Operating Profit fell by 40% YoY to Rs 118.24 crore.
• PAT down by 16%: With the 13% growth in other income to Rs 47.79 crore EBIDTA was down by 31% to Rs 166.03 crore. With no interest income and after 26% increase in depreciation to Rs 5.77 crore, PBT before EO was down by 32% YoY to Rs 160.26 crore. The EO gain Rs 8.41 crore (compared to EO loss Rs 29.69 crore) arrested the fall in PBT, which was down by 18% to Rs 168.67 crore. Thanks to the fall in effective tax rate (down by 160 bps YoY to 30.7%) PAT fell by 16% to Rs 116.88 crore.

Standalone Yearly Performance:

The Sales declined by 3% YoY to Rs 2546.15 crore for the year ended December 2013. Also, OPM fell by sharp 1050 bps YoY to 20.5% and after this Operating profit fell by 36% YoY to Rs 522.08 crore. After the 2% increase in other income to Rs 200.97 crore EBIDTA was down by 29% YoY to Rs 723.05 crore. With no interest income and after higher depreciation (up by 11% YoY to Rs 19.88 crore), PBT before EO was down by same 29% YoY to Rs 703.17 crore. After adjusting for EO gain Rs 26.15 crore (as against loss of Rs 148.22 crore), PBT was down by 14% to Rs 729.32 crore. Thanks to the decline in effective tax rate (down by 60 bps YoY to 31.2%) PAT declined by 13% YoY to Rs 501.88 crore.

Consolidated Yearly Performance:

The Sales declined by 3% YoY to Rs 2562.69 crore for the year ended December 2013. Notably, OPM fell by 1050 bps YoY to 20.6% and accordingly OP fell by 36% YoY to Rs 528.23 crore. After the 1% decline in other income to Rs 176.95 crore, EBIDTA was down by 30% to Rs 705.18 crore. With no interest income and after higher depreciation (up by 11% YoY to Rs 19.88 crore) , PBT before EO was down by same 30% to Rs 685.30 crore. After adjusting for EO gain Rs 26.15 crore (as against EO loss Rs 148.22 crore), PBT declined by 15% to Rs 711.45 crore. Thanks to the decline in effective tax rate (down by 40 bps YoY to 32.3%) PAT fell by 14% YoY to Rs 481.67 crore.

Other Information:

The scrip is hovering at Rs 3008.65 at BSE, India on 19^th February 2013.

The Board recommended a dividend of Rs 50 per Equity Share for the year (previous year: Rs 50 per Equity Share). If approved by the shareholders at the Annual General Meeting, the Dividend will absorb Rs. 424 crore. The Dividend Distribution Tax borne by the Company will amount to Rs 71 crore.