For
the quarter ending March 2024, Consolidated Net sales (including other operating income) of Alkem Laboratories has increased 1.14% to Rs 2935.82 crore compared to quarter ended March 2023. Operating profit margin has jumped from 12.17% to 13.69%, leading to 13.79% rise in operating profit to Rs 401.98 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 27.88% to 26.56%. Purchase of finished goods cost rose from 12.54% to 12.66%. Employee cost decreased from 18.20% to 16.82%. Other expenses rose from 28.61% to 30.61%. Other income rose 28.40% to Rs 88.17 crore. PBIDT rose 16.17% to Rs 490.15 crore. Provision for interest fell 7.25% to Rs 26.86 crore. Loan funds rose to Rs 1,540.14 crore as of 31 March 2024 from Rs 1,492.36 crore as of 31 March 2023. Inventories rose to Rs 2,661.18 crore as of 31 March 2024 from Rs 2,607.53 crore as of 31 March 2023. Sundry debtors were higher at Rs 2,252.81 crore as of 31 March 2024 compared to Rs 2,132.18 crore as of 31 March 2023. Cash and bank balance declined from Rs 2,616.89 crore as of 31 March 2023 to Rs 1,579.35 crore as of 31 March 2024. Investments declined from Rs 621.82 crore as of 31 March 2023 to Rs 483.78 crore as of 31 March 2024.
PBDT rose 17.90% to Rs 463.29 crore. Provision for depreciation rose 6.52% to Rs 83.43 crore. Fixed assets increased to Rs 2,557.03 crore as of 31 March 2024 from Rs 2,513.53 crore as of 31 March 2023. Intangible assets declined from Rs 492.56 crore to Rs 474.32 crore.
Profit before tax grew 20.73% to Rs 379.86 crore. Share of profit/loss were nil in both the periods. Extraordinary items were increased to Rs -12.52 crore. Provision for tax was expense of Rs 62.86 crore, compared to Rs 143.98 crore. Effective tax rate was 17.11% compared to 68.02%.
Net profit attributable to owners of the company increased 313.58% to Rs 293.56 crore. Equity capital stood at Rs 23.91 crore as of 31 March 2024 to Rs 23.91 crore as of 31 March 2023. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 56.74% as of 31 March 2024 ,compared to 57.16% as of 31 March 2023 .
Full year results analysis.
Net sales (including other operating income) of Alkem Laboratories has increased 9.21% to Rs 12667.58 crore. Operating profit margin has jumped from 13.88% to 17.73%, leading to 39.52% rise in operating profit to Rs 2,245.49 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 27.45% to 26.04%. Purchase of finished goods cost rose from 12.46% to 12.87%. Employee cost decreased from 19.14% to 17.39%. Other expenses fell from 26.50% to 25.95%. Other income rose 43.85% to Rs 310.84 crore. PBIDT rose 40.03% to Rs 2556.33 crore. Provision for interest rose 4.70% to Rs 112.41 crore. Loan funds rose to Rs 1,540.14 crore as of 31 March 2024 from Rs 1,492.36 crore as of 31 March 2023. Inventories rose to Rs 2,661.18 crore as of 31 March 2024 from Rs 2,607.53 crore as of 31 March 2023. Sundry debtors were higher at Rs 2,252.81 crore as of 31 March 2024 compared to Rs 2,132.18 crore as of 31 March 2023. Cash and bank balance declined from Rs 2,616.89 crore as of 31 March 2023 to Rs 1,579.35 crore as of 31 March 2024. Investments declined from Rs 621.82 crore as of 31 March 2023 to Rs 483.78 crore as of 31 March 2024.
PBDT rose 42.24% to Rs 2443.92 crore. Provision for depreciation fell 3.58% to Rs 299.3 crore. Fixed assets increased to Rs 2,557.03 crore as of 31 March 2024 from Rs 2,513.53 crore as of 31 March 2023. Intangible assets declined from Rs 492.56 crore to Rs 474.32 crore.
Profit before tax grew 52.34% to Rs 2,144.62 crore. Share of profit/loss were nil in both the periods. Extraordinary items were decreased to Rs -121.49 crore. Provision for tax was expense of Rs 211.67 crore, compared to Rs 297.96 crore. Effective tax rate was 10.46% compared to 22.84%.
Minority interest decreased 30.70% to Rs 15.69 crore. Net profit attributable to owners of the company increased 82.47% to Rs 1,795.77 crore.
Equity capital stood at Rs 23.91 crore as of 31 March 2024 to Rs 23.91 crore as of 31 March 2023. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 56.74% as of 31 March 2024 ,compared to 57.16% as of 31 March 2023 .
Other Highlights
The
board recommended a final dividend of Rs 5 per equity share of Rs 2 each for
financial year ended 31 March 2024. The company has fixed 10 August 2024 as the
record date.
In
Q4 FY24, India sales decreased 1.9% and International sales up by 6.1% compared
to Q4 FY23.
In
FY24, India sales increased 5.4% and International sales up by 16.4% compared
to FY23.
R&D
expenses for the quarter was Rs 175.7 crore representing 6% of total revenue
from operations.
For FY24, the company filed 8 ANDAs with
the USFDA and have received 19 approvals (including 3 Tentative Approvals).