For
the quarter ending March 2024, consolidated net sales (including other operating income) of Torrent Pharmaceuticals has increased 10.20% to Rs 2745 crore compared to quarter ended March 2023. Operating profit margin has jumped from 29.19% to 32.17%, leading to 21.46% rise in operating profit to Rs 883.00 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 15.88% to 14.69%. Purchase of finished goods cost rose from 10.97% to 11.29%. Employee cost decreased from 18.05% to 17.41%. Other expenses fell from 25.34% to 24.97%. Other income rose 244.44% to Rs 31 crore. PBIDT rose 24.18% to Rs 914 crore. Provision for interest fell 25.23% to Rs 80 crore. Loan funds declined from Rs 5,368.00 crore as of 31 March 2023 to Rs 4,018.00 crore as of 31 March 2024. Inventories rose to Rs 2,279.00 crore as of 31 March 2024 from Rs 2,230.00 crore as of 31 March 2023. Sundry debtors were lower at Rs 1,844.00 crore as of 31 March 2024 compared to Rs 1,944.00 crore as of 31 March 2023. Cash and bank balance rose to Rs 839.00 crore as of 31 March 2024 from Rs 571.00 crore as of 31 March 2023. Investments declined from Rs 199.00 crore as of 31 March 2023 to Rs 173.00 crore as of 31 March 2024.
PBDT rose 32.59% to Rs 834 crore. Provision for depreciation rose 3.57% to Rs 203 crore. Fixed assets declined from Rs 8,549.00 crore as of 31 March 2023 to Rs 3,578.00 crore as of 31 March 2024. Intangible assets increased from Rs 338.00 crore to Rs 4,921.00 crore.
Profit before tax grew 45.73% to Rs 631.00 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 182 crore, compared to Rs 146 crore. Effective tax rate was 28.84% compared to 33.72%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 56.45% to Rs 449.00 crore. Equity capital stood at Rs 169.00 crore as of 31 March 2024 to Rs 169.00 crore as of 31 March 2023. Per share face Value remained same at Rs 5.00.
Promoters’ stake was 71.25% as of 31 March 2024 ,compared to 71.25% as of 31 March 2023 .
Full year results analysis.
Net sales (including other operating income) of Torrent Pharmaceuticals has increased 11.52% to Rs 10728 crore. Operating profit margin has jumped from 29.54% to 31.39%, leading to 18.51% rise in operating profit to Rs 3,368.00 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 15.65% to 15.23%. Purchase of finished goods cost fell from 11.52% to 10.88%. Employee cost increased from 17.75% to 18.23%. Other expenses fell from 25.02% to 24.72%. Other income rose 28.89% to Rs 58 crore. PBIDT rose 18.67% to Rs 3426 crore. Provision for interest rose 6.31% to Rs 354 crore. Loan funds declined from Rs 5,368.00 crore as of 31 March 2023 to Rs 4,018.00 crore as of 31 March 2024. Inventories rose to Rs 2,279.00 crore as of 31 March 2024 from Rs 2,230.00 crore as of 31 March 2023. Sundry debtors were lower at Rs 1,844.00 crore as of 31 March 2024 compared to Rs 1,944.00 crore as of 31 March 2023. Cash and bank balance rose to Rs 839.00 crore as of 31 March 2024 from Rs 571.00 crore as of 31 March 2023. Investments declined from Rs 199.00 crore as of 31 March 2023 to Rs 173.00 crore as of 31 March 2024.
PBDT rose 20.28% to Rs 3072 crore. Provision for depreciation rose 14.29% to Rs 808 crore. Fixed assets declined from Rs 8,549.00 crore as of 31 March 2023 to Rs 3,578.00 crore as of 31 March 2024. Intangible assets increased from Rs 338.00 crore to Rs 4,921.00 crore.
Profit before tax grew 22.58% to Rs 2,264.00 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 696 crore, compared to Rs 602 crore. Effective tax rate was 29.59% compared to 32.59%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 33.01% to Rs 1,656.00 crore.
Equity capital stood at Rs 169.00 crore as of 31 March 2024 to Rs 169.00 crore as of 31 March 2023. Per share face Value remained same at Rs 5.00.
Promoters’ stake was 71.25% as of 31 March 2024 ,compared to 71.25% as of 31 March 2023 .
Cash flow from operating activities increased to Rs 3,266.00 crore for year ended March 2024 from Rs 2,368.00 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 433.00 crore, compared to Rs 574.00 crore during the year ended March 2023.
Other Highlights
The
Board recommended a final dividend of Rs 6 per equity
share of Rs 5 each for FY24. The Company has fixed Friday, 21 June 2024 as the
Record Date.
In
Q4 FY24, India revenue grew by 10% compared to Q4 FY23. Brazil revenue went up
17%, US down 6% and Germany up 11% on YoY basis.
In
FY24, India revenue grew by 14% compared to FY23. Brazil revenue went up 20%,
US down 7% and Germany