For
the quarter ending Mar 2023, consolidated net sales (including other operating income) of Ajanta Pharma has increased 1.33% to Rs 881.84 crore compared to quarter ended Mar 2022. Operating profit margin has declined from 23.75% to 16.94%, leading to 27.73% decline in operating profit to Rs 149.37 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 24.59% to 25.71%. Purchase of finished goods cost fell from 3.88% to 3.24%. Employee cost increased from 18.76% to 24.79%. Other expenses rose from 29.33% to 29.70%. Other income rose 24.93% to Rs 36.83 crore. PBIDT fell 21.16% to Rs 186.2 crore. Provision for interest fell 84.60% to Rs 1.13 crore. Loan funds rose to Rs 35.63 crore as of 31 March 2023 from Rs 25.03 crore as of 31 March 2022. Inventories rose to Rs 815.63 crore as of 31 March 2023 from Rs 791.07 crore as of 31 March 2022. Sundry debtors were higher at Rs 1,056.90 crore as of 31 March 2023 compared to Rs 1,019.81 crore as of 31 March 2022. Cash and bank balance rose to Rs 330.90 crore as of 31 March 2023 from Rs 211.79 crore as of 31 March 2022. Investments rose to Rs 535.37 crore as of 31 March 2023 from Rs 146.96 crore as of 31 March 2022 .
PBDT fell 19.12% to Rs 185.07 crore. Provision for depreciation rose 5.97% to Rs 33.02 crore. Fixed assets increased to Rs 1,698.16 crore as of 31 March 2023 from Rs 1,655.83 crore as of 31 March 2022. Intangible assets declined from Rs 9.02 crore to Rs 7.75 crore.
Profit before tax down 23.08% to Rs 152.05 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 29.8 crore, compared to Rs 46.46 crore. Effective tax rate was 19.60% compared to 23.50%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 19.15% to Rs 122.25 crore. Equity capital increased from Rs 17.17 crore as of 31 March 2022 to Rs 25.27 crore as of 31 March 2023. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 66.11% as of 31 March 2023 ,compared to 70.48% as of 31 March 2022 . Promoters pledged stake was 11.41% as of 31 March 2023 ,compared to 16.60% as of 31 March 2022 .
Full year results analysis.
Net sales (including other operating income) of Ajanta Pharma has increased 12.02% to Rs 3742.64 crore. Operating profit margin has declined from 27.82% to 20.93%, leading to 15.72% decline in operating profit to Rs 783.25 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 22.76% to 23.63%. Purchase of finished goods cost fell from 3.97% to 3.94%. Employee cost increased from 18.86% to 21.12%. Other expenses rose from 27.27% to 30.24%. Other income fell 14.73% to Rs 98.64 crore. PBIDT fell 15.61% to Rs 881.89 crore. Provision for interest fell 42.75% to Rs 5.84 crore. Loan funds rose to Rs 35.63 crore as of 31 March 2023 from Rs 25.03 crore as of 31 March 2022. Inventories rose to Rs 815.63 crore as of 31 March 2023 from Rs 791.07 crore as of 31 March 2022. Sundry debtors were higher at Rs 1,056.90 crore as of 31 March 2023 compared to Rs 1,019.81 crore as of 31 March 2022. Cash and bank balance rose to Rs 330.90 crore as of 31 March 2023 from Rs 211.79 crore as of 31 March 2022. Investments rose to Rs 535.37 crore as of 31 March 2023 from Rs 146.96 crore as of 31 March 2022 .
PBDT fell 15.34% to Rs 876.05 crore. Provision for depreciation rose 4.39% to Rs 130.8 crore. Fixed assets increased to Rs 1,698.16 crore as of 31 March 2023 from Rs 1,655.83 crore as of 31 March 2022. Intangible assets declined from Rs 9.02 crore to Rs 7.75 crore.
Profit before tax down 18.06% to Rs 745.25 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 157.27 crore, compared to Rs 196.8 crore. Effective tax rate was 21.10% compared to 21.64%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 17.50% to Rs 587.98 crore.
Equity capital increased from Rs 17.17 crore as of 31 March 2022 to Rs 25.27 crore as of 31 March 2023. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 66.11% as of 31 March 2023 ,compared to 70.48% as of 31 March 2022 . Promoters pledged stake was 11.41% as of 31 March 2023 ,compared to 16.60% as of 31 March 2022 .
Cash flow from operating activities increased to Rs 791.78 crore for year ended March 2023 from Rs 561.71 crore for year ended March 2022. Cash flow used in acquiring fixed assets during the year ended March 2023 stood at Rs 174.49 crore, compared to Rs 148.84 crore during the year ended March 2022.
Other Highlights
In
Q4 FY23, India sales went up 17% compared to Q4 FY22. Asia sales down 9%, US
Generic up 17% and Africa Institution sales fell 1% on YoY basis.
In
FY23, India sales went up 20% compared to 9M FY22. Asia sales grew 18%, US
Generic grew 19% and Africa Institution sales down 8% on YoY basis.
In
Q4 FY23,