For
the quarter ending sept 2022, consolidated net sales (including other operating income) of Divis Laboratories has declined 6.69% to Rs 1854.54 crore compared to quarter ended sept 2021. Operating profit margin has declined from 41.16% to 33.49%, leading to 24.08% decline in operating profit to Rs 621.04 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 39.68% to 40.80%. Employee cost increased from 10.14% to 11.59%. Other expenses rose from 13.16% to 16.32%. Other income rose 319.05% to Rs 80.08 crore. PBIDT fell 16.25% to Rs 701.12 crore. Provision for interest fell 19.05% to Rs 0.17 crore. Loan funds declined from Rs 4.17 crore as of 30 September 2021 to Rs 3.29 crore as of 30 September 2022. Inventories rose to Rs 2,969.93 crore as of 30 September 2022 from Rs 2,676.35 crore as of 30 September 2021. Sundry debtors were lower at Rs 1,839.67 crore as of 30 September 2022 compared to Rs 1,852.26 crore as of 30 September 2021. Cash and bank balance rose to Rs 3,336.63 crore as of 30 September 2022 from Rs 1,879.76 crore as of 30 September 2021. Investments rose to Rs 74.53 crore as of 30 September 2022 from Rs 0.01 crore as of 30 September 2021 .
PBDT fell 16.25% to Rs 700.95 crore. Provision for depreciation rose 10.83% to Rs 85.73 crore. Fixed assets increased to Rs 4,866.48 crore as of 30 September 2022 from Rs 4,551.44 crore as of 30 September 2021. Intangible assets declined from Rs 6.77 crore to Rs 6.69 crore.
Profit before tax down 19.01% to Rs 615.22 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 121.62 crore, compared to Rs 153.16 crore. Effective tax rate was 19.77% compared to 20.16%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 18.61% to Rs 493.60 crore. Equity capital stood at Rs 53.09 crore as of 30 September 2022 to Rs 53.09 crore as of 30 September 2021. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 51.94% as of 30 September 2022 ,compared to 51.95% as of 30 September 2021 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Divis Laboratories has increased 4.08% to Rs 4109.06 crore.
Operating profit margin has declined from 42.48% to 35.72%, leading to 12.49% decline in operating profit to Rs 1,467.74 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 38.46% to 37.74%. Purchase of finished goods cost rose from 0.15% to 0.24%. Employee cost increased from 10.30% to 11.32%. Other expenses rose from 12.25% to 15.99%. Other income rose 251.27% to Rs 168.47 crore. PBIDT fell 5.16% to Rs 1636.21 crore. Provision for interest fell 38.78% to Rs 0.3 crore. Loan funds declined from Rs 4.17 crore as of 30 September 2021 to Rs 3.29 crore as of 30 September 2022. Inventories rose to Rs 2,969.93 crore as of 30 September 2022 from Rs 2,676.35 crore as of 30 September 2021. Sundry debtors were lower at Rs 1,839.67 crore as of 30 September 2022 compared to Rs 1,852.26 crore as of 30 September 2021. Cash and bank balance rose to Rs 3,336.63 crore as of 30 September 2022 from Rs 1,879.76 crore as of 30 September 2021. Investments rose to Rs 74.53 crore as of 30 September 2022 from Rs 0.01 crore as of 30 September 2021 .
PBDT fell 5.15% to Rs 1635.91 crore. Provision for depreciation rose 12.47% to Rs 169.39 crore. Fixed assets increased to Rs 4,866.48 crore as of 30 September 2022 from Rs 4,551.44 crore as of 30 September 2021. Intangible assets declined from Rs 6.77 crore to Rs 6.69 crore.
Profit before tax down 6.83% to Rs 1,466.52 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 270.91 crore, compared to Rs 410.53 crore. Effective tax rate was 18.47% compared to 26.08%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 2.75% to Rs 1,195.61 crore.
Equity capital stood at Rs 53.09 crore as of 30 September 2022 to Rs 53.09 crore as of 30 September 2021. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 51.94% as of 30 September 2022 ,compared to 51.95% as of 30 September 2021 .
Cash flow from operating activities increased to Rs 1,485.82 crore for YTD ended September 2022 from Rs 557.22 crore for YTD ended September 2021. Cash flow used in acquiring fixed assets during the YTD ended September 2022 stood at Rs 246.51 crore, compared to Rs 334.64 crore during the YTD ended September 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 .
Cash flow from operating activities decreased to Rs 1,911.80 crore for year ended March 2022 from Rs 1,946.93 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 713.20 crore, compared to Rs 910.19 crore during the year ended March 2021.
Other highlights
In Q2 FY23, company had a forex gain of Rs
31 crore as against a loss of Rs 7 crore during the corresponding quarter of
last year.