For the
quarter ending Dec 2021, consolidated net sales (including other operating income) of Divis Laboratories has increased 46.54% to Rs 2493.24 crore compared to quarter ended Dec 2020.
Operating profit margin has jumped from 40.63% to 44.01%, leading to 58.73% rise in operating profit to Rs 1,097.18 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 36.64% to 35.12%. Purchase of finished goods cost rose from 0.09% to 0.12%. Employee cost decreased from 12.58% to 9.53%. Other expenses fell from 13.47% to 12.47%. Other income fell 13.98% to Rs 16.62 crore. PBIDT rose 56.76% to Rs 1113.8 crore. Provision for interest fell 14.81% to Rs 0.23 crore. PBDT rose 56.78% to Rs 1113.57 crore. Provision for depreciation rose 17.20% to Rs 79.91 crore. Profit before tax grew 60.99% to Rs 1,033.66 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 131.42 crore, compared to Rs 171.46 crore. Effective tax rate was 12.71% compared to 26.70%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 91.71% to Rs 902.24 crore. Promoters’ stake was 51.95% as of 31 December 2021 ,compared to 51.95% as of 31 December 2020 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Divis Laboratories has increased 24.32% to Rs 6441.39 crore. Operating profit margin has jumped from 41.30% to 43.12%, leading to 29.80% rise in operating profit to Rs 2,777.52 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 32.84% to 37.21%. Purchase of finished goods cost rose from 0.11% to 0.14%. Employee cost decreased from 11.91% to 10.01%. Other expenses fell from 13.42% to 12.29%. Other income rose 43.14% to Rs 61.48 crore. PBIDT rose 30.07% to Rs 2839 crore. Provision for interest rose 9.09% to Rs 0.72 crore. PBDT rose 30.07% to Rs 2838.28 crore. Provision for depreciation rose 24.26% to Rs 230.52 crore. Profit before tax grew 30.61% to Rs 2,607.76 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 541.95 crore, compared to Rs 514.28 crore. Effective tax rate was 20.78% compared to 25.76%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 39.37% to Rs 2,065.81 crore. Promoters’ stake was 51.95% as of 31 December 2021 ,compared to 51.95% as of 31 December 2020 .
Full year results analysis.
Net sales (including other operating income) of Divis Laboratories has increased 29.20% to Rs 6969.4 crore. Operating profit margin has jumped from 33.78% to 41.04%, leading to 56.95% rise in operating profit to Rs 2,859.94 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 39.97% to 34.02%. Purchase of finished goods cost fell from 0.29% to 0.08%. Employee cost increased from 11.29% to 11.72%. Other expenses fell from 15.32% to 13.62%. Other income fell 67.01% to Rs 62.56 crore. PBIDT rose 45.27% to Rs 2922.5 crore. Provision for interest fell 85.74% to Rs 0.87 crore. Loan funds declined from Rs 38.85 crore as of 31 March 2020 to Rs 4.83 crore as of 31 March 2021. Inventories rose to Rs 2,145.23 crore as of 31 March 2021 from Rs 1,863.86 crore as of 31 March 2020. Sundry debtors were higher at Rs 1,676.52 crore as of 31 March 2021 compared to Rs 1,413.35 crore as of 31 March 2020. Cash and bank balance rose to Rs 2,156.03 crore as of 31 March 2021 from Rs 122.63 crore as of 31 March 2020. Investments declined from Rs 971.36 crore as of 31 March 2020 to Rs 0.01 crore as of 31 March 2021. PBDT rose 45.67% to Rs 2921.63 crore. Provision for depreciation rose 37.24% to Rs 255.59 crore. Fixed assets increased to Rs 4,409.54 crore as of 31 March 2021 from Rs 3,697.94 crore as of 31 March 2020. Intangible assets increased from Rs 3.60 crore to Rs 4.95 crore. Profit before tax grew 46.53% to Rs 2,666.04 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 681.75 crore, compared to Rs 442.92 crore. Effective tax rate was 25.57% compared to 24.34%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 44.15% to Rs 1,984.29 crore. Equity capital stood at Rs 53.09 crore as of 31 March 2021 to Rs 53.09 crore as of 31 March 2020. Per share face Value remained same at Rs 2.00. Promoters’ stake was 51.95% as of 31 March 2021 ,compared to 51.97% as of 31 March 2020 . Cash flow from operating activities increased to Rs 1,946.93 crore for year ended March 2021 from Rs 1,215.94 crore for year ended March 2020. Cash flow used in acquiring fixed assets during the year ended March 2021 stood at Rs 910.19 crore, compared to Rs 1,183.21 crore during the year ended March 2020.
| Divis Laboratories : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
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| Particulars | 202112 | 202012 | Var.(%) | 202112 | 202012 | Var.(%) | 202103 | 202003 | Var.(%) |
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| Net Sales (including other operating income) | 2,493.24 | 1,701.44 | 46.54 | 6,441.39 | 5,181.21 | 24.32 | 6,969.40 | 5,394.42 | 29.20 | | OPM (%) | 44.01 | 40.63 | 338 bps | 43.12 | 41.30 | 182 bps | 41.04 | 33.78 | 726 bps | | OP | 1,097.18 | 691.21 | 58.73 | 2,777.52 | 2,139.77 | 29.80 | 2,859.94 | 1,822.17 | 56.95 | | Other Inc. | 16.62 | 19.32 | -13.98 | 61.48 | 42.95 | 43.14 | 62.56 | 189.63 | -67.01 | | PBIDT | 1,113.80 | 710.53 | 56.76 | 2,839.00 | 2,182.72 | 30.07 | 2,922.50 | 2,011.80 | 45.27 | | Interest | 0.23 | 0.27 | -14.81 | 0.72 | 0.66 | 9.09 | 0.87 | 6.10 | -85.74 | | PBDT | 1,113.57 | 710.26 | 56.78 | 2,838.28 | 2,182.06 | 30.07 | 2,921.63 | 2,005.70 | 45.67 | | Depreciation | 79.91 | 68.18 | 17.20 | 230.52 | 185.51 | 24.26 | 255.59 | 186.24 | 37.24 | | PBT | 1,033.66 | 642.08 | 60.99 | 2607.76 | 1996.55 | 30.61 | 2666.04 | 1819.46 | 46.53 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 1033.66 | 642.08 | 60.99 | 2607.76 | 1996.55 | 30.61 | 2666.04 | 1819.46 | 46.53 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 1033.66 | 642.08 | 60.99 | 2607.76 | 1996.55 | 30.61 | 2666.04 | 1819.46 | 46.53 | | Taxation | 131.42 | 171.46 | -23.35 | 541.95 | 514.28 | 5.38 | 681.75 | 442.92 | 53.92 | | PAT | 902.24 | 470.62 | 91.71 | 2065.81 | 1482.27 | 39.37 | 1984.29 | 1376.54 | 44.15 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | 902.24 | 470.62 | 91.71 | 2065.81 | 1482.27 | 39.37 | 1984.29 | 1376.54 | 44.15 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 902.24 | 470.62 | 91.71 | 2065.81 | 1482.27 | 39.37 | 1984.29 | 1376.54 | 44.15 | | EPS (Rs)* | 33.99 | 17.73 | 91.71 | 77.82 | 55.84 | 39.37 | 74.75 | 51.85 | 44.15 | | | * EPS is on current equity of Rs 53.09 crore, Face value of Rs 2, 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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