For
the quarter ending dec 2022, consolidated Net sales (including other operating income) of Alkem Laboratories has increased 16.11% to Rs 3040.91 crore compared to quarter ended Dec 2021. Operating profit margin has jumped from 19.03% to 19.70%, leading to 20.18% rise in operating profit to Rs 599.05 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 28.07% to 26.19%. Purchase of finished goods cost fell from 13.62% to 13.51%. Employee cost increased from 16.93% to 17.68%. Other expenses fell from 23.47% to 22.46%. Other income fell 15.30% to Rs 45.33 crore. PBIDT rose 16.74% to Rs 644.38 crore. Provision for interest rose 155.91% to Rs 27.05 crore.
PBDT rose 14.02% to Rs 617.33 crore. Provision for depreciation rose 1.27% to Rs 78.44 crore.
Profit before tax grew 16.16% to Rs 538.89 crore. Share of profit/loss were nil in both the periods. Provision for tax was debit of Rs 78.93 crore, compared to credit of Rs 69.41 crore. Effective tax rate was 14.65% compared to negative 14.96%.
Minority interest decreased 31.73% to Rs 5.25 crore. Net profit attributable to owners of the company decreased 13.50% to Rs 454.71 crore. Promoters’ stake was 57.16% as of 31 December 2022 ,compared to 57.13% as of 31 December 2021 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Alkem Laboratories has increased 6.70% to Rs 8696.66 crore.
Operating profit margin has declined from 21.05% to 14.44%, leading to 26.78% decline in operating profit to Rs 1,256.20 crore. Purchase of finished goods cost fell from 13.95% to 12.43%. Employee cost increased from 17.59% to 19.45%. Other expenses rose from 21.01% to 25.81%. Other income rose 3.71% to Rs 147.41 crore. PBIDT fell 24.45% to Rs 1403.61 crore. Provision for interest rose 121.47% to Rs 78.4 crore.
PBDT fell 27.28% to Rs 1325.21 crore. Provision for depreciation rose 5.11% to Rs 232.1 crore.
Profit before tax down 31.75% to Rs 1,093.11 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 153.98 crore, compared to Rs 29.49 crore. Effective tax rate was 14.09% compared to 1.84%.Minority interest decreased 23.86% to Rs 25.94 crore. Net profit attributable to owners of the company decreased 40.63% to Rs 913.19 crore.
Promoters’ stake was 57.16% as of 31 December 2022 ,compared to 57.13% as of 31 December 2021 .
Full year results analysis.
Net sales (including other operating income) of Alkem Laboratories has increased 19.96% to Rs 10634.19 crore. Operating profit margin has declined from 21.91% to 19.30%, leading to 5.69% rise in operating profit to Rs 2,052.92 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 26.03% to 28.88%. Purchase of finished goods cost fell from 15.63% to 13.34%. Employee cost decreased from 17.62% to 17.57%. Other expenses rose from 19.60% to 21.83%. Other income fell 30.26% to Rs 162.65 crore. PBIDT rose 1.84% to Rs 2215.57 crore. Provision for interest fell 11.12% to Rs 52.37 crore. Loan funds rose to Rs 2,601.72 crore as of 31 March 2022 from Rs 1,722.27 crore as of 31 March 2021. Inventories rose to Rs 3,005.53 crore as of 31 March 2022 from Rs 2,312.44 crore as of 31 March 2021. Sundry debtors were higher at Rs 1,884.60 crore as of 31 March 2022 compared to Rs 1,607.21 crore as of 31 March 2021. Cash and bank balance rose to Rs 2,578.58 crore as of 31 March 2022 from Rs 1,990.45 crore as of 31 March 2021. Investments rose to Rs 370.98 crore as of 31 March 2022 from Rs 332.78 crore as of 31 March 2021 .
PBDT rose 2.20% to Rs 2163.2 crore. Provision for depreciation rose 10.70% to Rs 303.96 crore. Fixed assets increased to Rs 2,838.12 crore as of 31 March 2022 from Rs 2,790.87 crore as of 31 March 2021. Intangible assets increased from Rs 395.39 crore to Rs 403.09 crore.
Profit before tax grew 0.93% to Rs 1,859.24 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 163.96 crore, compared to Rs 224.33 crore. Effective tax rate was 8.89% compared to 12.18%.
Minority interest increased 5.95% to Rs 34.70 crore. Net profit attributable to owners of the company increased 3.82% to Rs 1,645.62 crore.
Equity capital stood at Rs 23.91 crore as of 31 March 2022 to Rs 23.91 crore as of 31 March 2021. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 57.14% as of 31 March 2022 ,compared to 60.16% as of 31 March 2021 .
Cash flow from operating activities decreased to Rs 1,111.02 crore for year ended March 2022 from Rs 1,264.90 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 338.88 crore, compared to Rs 194.91 crore during the year ended March 2021.
Other Highlights
Board declared a Special Dividend of Rs 25 per
equity share having a face value of Rs 2 per share for the financial year
2022-23. In addition to the same, the Board has declared an Interim Dividend of
Rs 15 per equity share for the financial year 2022-23 amounting to a total
Interim Dividend of Rs 40 per equity share. Record date for the purpose of
payment of Dividend (Interim and Special) for the financial year 2022-23 would
be Saturday 18th February, 2023. The
date of payment of Dividend (Interim and Special) shall be on and from 1st
March, 2023.
In
Q3 FY23, India sales grew 9.7% YoY and International sales grew by 28.8%
compared to Q3 FY22.
In
9M FY23, India sales grew 5.3% YoY and International sales up by 9.1% compared
to Q3 FY22.
R&D
expenses for the quarter was Rs 129.7 crore representing 4.3% of total revenue
from operations.
R&D
expenses for 9M FY23 was Rs 392.2 crore representing 4.5% of total revenue from
operations.
In
Q3 FY23, India sales contributed 66.7% to total sales, US sales contributed
25.5% and Other International Market sales contributed 7.8%.