For the
quarter ending March 2022, consolidated net sales (including other operating income) of Divis Laboratories has increased 40.84% to Rs 2518.44 crore compared to quarter ended march 2021.
Operating profit margin has jumped from 40.06% to 43.85%, leading to 54.19% rise in operating profit to Rs 1,104.42 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 37.17% to 35.18%. Purchase of finished goods cost rose from 0.02% to 0.19%. Employee cost decreased from 11.20% to 9.88%. Other expenses fell from 14.35% to 12.26%. Other income rose 122.75% to Rs 52.39 crore. PBIDT rose 56.37% to Rs 1156.81 crore. Provision for interest fell 61.90% to Rs 0.08 crore. Loan funds declined from Rs 4.83 crore as of 31 March 2021 to Rs 3.69 crore as of 31 March 2022. Inventories rose to Rs 2,828.62 crore as of 31 March 2022 from Rs 2,145.23 crore as of 31 March 2021. Sundry debtors were higher at Rs 2,423.88 crore as of 31 March 2022 compared to Rs 1,676.52 crore as of 31 March 2021. Cash and bank balance rose to Rs 2,818.88 crore as of 31 March 2022 from Rs 2,156.03 crore as of 31 March 2021. Investments rose to Rs 72.01 crore as of 31 March 2022 from Rs 0.01 crore as of 31 March 2021 . PBDT rose 56.41% to Rs 1156.73 crore. Provision for depreciation rose 15.57% to Rs 80.99 crore. Fixed assets increased to Rs 4,787.49 crore as of 31 March 2022 from Rs 4,409.54 crore as of 31 March 2021. Intangible assets increased from Rs 4.95 crore to Rs 7.49 crore. Profit before tax grew 60.68% to Rs 1,075.74 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 181.1 crore, compared to Rs 167.47 crore. Effective tax rate was 16.83% compared to 25.01%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 78.21% to Rs 894.64 crore. Equity capital stood at Rs 53.09 crore as of 31 March 2022 to Rs 53.09 crore as of 31 March 2021. Per share face Value remained same at Rs 2.00. Promoters’ stake was 51.94% as of 31 March 2022 ,compared to 51.95% as of 31 March 2021 .
Full year results analysis.
Net sales (including other operating income) of Divis Laboratories has increased 28.56% to Rs 8959.83 crore. Operating profit margin has jumped from 41.04% to 43.33%, leading to 35.74% rise in operating profit to Rs 3,881.94 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 34.02% to 36.66%. Purchase of finished goods cost rose from 0.08% to 0.15%. Employee cost decreased from 11.72% to 9.98%. Other expenses fell from 13.62% to 12.28%. Other income rose 82.02% to Rs 113.87 crore. PBIDT rose 36.73% to Rs 3995.81 crore. Provision for interest fell 8.05% to Rs 0.8 crore. Loan funds declined from Rs 4.83 crore as of 31 March 2021 to Rs 3.69 crore as of 31 March 2022. Inventories rose to Rs 2,828.62 crore as of 31 March 2022 from Rs 2,145.23 crore as of 31 March 2021. Sundry debtors were higher at Rs 2,423.88 crore as of 31 March 2022 compared to Rs 1,676.52 crore as of 31 March 2021. Cash and bank balance rose to Rs 2,818.88 crore as of 31 March 2022 from Rs 2,156.03 crore as of 31 March 2021. Investments rose to Rs 72.01 crore as of 31 March 2022 from Rs 0.01 crore as of 31 March 2021 . PBDT rose 36.74% to Rs 3995.01 crore. Provision for depreciation rose 21.88% to Rs 311.51 crore. Fixed assets increased to Rs 4,787.49 crore as of 31 March 2022 from Rs 4,409.54 crore as of 31 March 2021. Intangible assets increased from Rs 4.95 crore to Rs 7.49 crore. Profit before tax grew 38.16% to Rs 3,683.50 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 723.05 crore, compared to Rs 681.75 crore. Effective tax rate was 19.63% compared to 25.57%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 49.19% to Rs 2,960.45 crore. Equity capital stood at Rs 53.09 crore as of 31 March 2022 to Rs 53.09 crore as of 31 March 2021. Per share face Value remained same at Rs 2.00. Promoters’ stake was 51.94% as of 31 March 2022 ,compared to 51.95% as of 31 March 2021 .
Dividend:
board Recommended a Dividend of Rs 30 (1500%) per equity share of face value Rs
2 each for the financial year 2021-22.
Capex projects:
During FY22, the Company has capitalized Assets valuing RS 934.56 crore.
Capital WIP as at the year-end amounted to Rs 469.93 crore.
| Divis Laboratories : Consolidated Results | | | Quarter ended | Year ended |
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| Particulars | 202203 | 202103 | Var.(%) | 202203 | 202103 | Var.(%) |
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| Net Sales (including other operating income) | 2,518.44 | 1,788.19 | 40.84 | 8,959.83 | 6,969.40 | 28.56 | | OPM (%) | 43.85 | 40.06 | 380 bps | 43.33 | 41.04 | 229 bps | | OP | 1,104.42 | 716.26 | 54.19 | 3,881.94 | 2,859.94 | 35.74 | | Other Inc. | 52.39 | 23.52 | 122.75 | 113.87 | 62.56 | 82.02 | | PBIDT | 1,156.81 | 739.78 | 56.37 | 3,995.81 | 2,922.50 | 36.73 | | Interest | 0.08 | 0.21 | -61.90 | 0.80 | 0.87 | -8.05 | | PBDT | 1,156.73 | 739.57 | 56.41 | 3,995.01 | 2,921.63 | 36.74 | | Depreciation | 80.99 | 70.08 | 15.57 | 311.51 | 255.59 | 21.88 | | PBT | 1,075.74 | 669.49 | 60.68 | 3683.5 | 2666.04 | 38.16 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 1075.74 | 669.49 | 60.68 | 3683.5 | 2666.04 | 38.16 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 1075.74 | 669.49 | 60.68 | 3683.5 | 2666.04 | 38.16 | | Taxation | 181.1 | 167.47 | 8.14 | 723.05 | 681.75 | 6.06 | | PAT | 894.64 | 502.02 | 78.21 | 2960.45 | 1984.29 | 49.19 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | | Net profit | 894.64 | 502.02 | 78.21 | 2960.45 | 1984.29 | 49.19 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 894.64 | 502.02 | 78.21 | 2960.45 | 1984.29 | 49.19 | | EPS (Rs)* | 33.70 | 18.91 | 78.21 | 111.52 | 74.75 | 49.19 | | | * 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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