Operating profit margin has declined from 26.46% to 23.67%, leading to 1.50% rise in operating profit to Rs 365.58 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 29.78% to 27.53%.   Purchase of finished goods cost rose from 4.17% to 7.30%.   Employee cost increased from 18.31% to 19.31%.   Other expenses rose from 21.84% to 22.03%.   

Other income rose 17.02% to Rs 18.08 crore.  PBIDT rose 2.14% to Rs 383.66 crore.  Provision for interest fell 54.11% to Rs 1.06 crore.  Loan funds declined from Rs 334.71 crore as of 30 September 2020 to Rs 306.76 crore as of 30 September 2021.  Inventories rose to Rs 1,546.32 crore as of 30 September 2021 from Rs 1,397.49 crore as of 30 September 2020.  Sundry debtors were higher at Rs 1,071.57 crore as of 30 September 2021 compared to Rs 920.90 crore as of 30 September 2020.  Cash and bank balance declined from Rs 693.38 crore as of 30 September 2020 to Rs 536.59 crore as of 30 September 2021.  Investments rose to Rs 517.45 crore as of 30 September 2021 from Rs 295.83 crore as of 30 September 2020 .  

PBDT rose 2.48% to Rs 382.6 crore.  Provision for depreciation rose 9.29% to Rs 56.96 crore.  Fixed assets increased to Rs 2,463.53 crore as of 30 September 2021 from Rs 2,022.33 crore as of 30 September 2020.  Intangible assets declined from Rs 167.92 crore to Rs 54.17 crore.  

Profit before tax grew 1.38% to Rs 325.64 crore.  Share of profit/loss was 177.60% lower at Rs -5.33 crore.  Provision for tax was expense of Rs 67.91 crore, compared to Rs 52.59 crore.  Effective tax rate was 21.20% compared to 16.47%.

Net profit attributable to owners of the company decreased 6.31% to Rs 250.23 crore.  

Equity capital stood at Rs 25.37 crore as of 30 September 2021 to Rs 25.37 crore as of 30 September 2020.  Per share face Value remained same at Rs 2.00.  

Promoters' stake was 46.29% as of 30 September 2021 ,compared to 46.07% as of 30 September 2020 .  

For year-to-date (YTD) results analysis.

Net sales (including other operating income) of Ipca Laboratories has increased 7.42% to Rs 3110.22 crore.  

Operating profit margin has declined from 32.76% to 25.15%, leading to 17.54% decline in operating profit to Rs 782.12 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 26.80% to 27.27%.   Purchase of finished goods cost rose from 4.29% to 6.81%.   Employee cost increased from 17.42% to 19.45%.   Other expenses rose from 19.15% to 20.95%.   

Other income rose 41.98% to Rs 39.1 crore.  PBIDT fell 15.86% to Rs 821.22 crore.  Provision for interest fell 42.97% to Rs 2.88 crore.  Loan funds declined from Rs 334.71 crore as of 30 September 2020 to Rs 306.76 crore as of 30 September 2021.  Inventories rose to Rs 1,546.32 crore as of 30 September 2021 from Rs 1,397.49 crore as of 30 September 2020.  Sundry debtors were higher at Rs 1,071.57 crore as of 30 September 2021 compared to Rs 920.90 crore as of 30 September 2020.  Cash and bank balance declined from Rs 693.38 crore as of 30 September 2020 to Rs 536.59 crore as of 30 September 2021.  Investments rose to Rs 517.45 crore as of 30 September 2021 from Rs 295.83 crore as of 30 September 2020 .  

PBDT fell 15.72% to Rs 818.34 crore.  Provision for depreciation rose 9.38% to Rs 112.83 crore.  Fixed assets increased to Rs 2,463.53 crore as of 30 September 2021 from Rs 2,022.33 crore as of 30 September 2020.  Intangible assets declined from Rs 167.92 crore to Rs 54.17 crore.  

Profit before tax down 18.71% to Rs 705.51 crore.  Share of profit/loss was 159.53% lower at Rs -7.76 crore.  Provision for tax was expense of Rs 138.68 crore, compared to Rs 152.48 crore.  Effective tax rate was 19.88% compared to 17.63%.

Net profit attributable to owners of the company decreased 21.92% to Rs 556.89 crore.  

Equity capital stood at Rs 25.37 crore as of 30 September 2021 to Rs 25.37 crore as of 30 September 2020.  Per share face Value remained same at Rs 2.00.  

Promoters' stake was 46.29% as of 30 September 2021 ,compared to 46.07% as of 30 September 2020 .  

Cash flow from operating activities decreased to Rs 466.46 crore for YTD ended September 2021 from Rs 701.20 crore for YTD ended September 2020.  Cash flow used in acquiring fixed assets during the YTD ended September 2021 stood at Rs 247.48 crore, compared to Rs 126.39 crore during the YTD ended September 2020.  

Full year results analysis.

Net sales (including other operating income) of Ipca Laboratories has increased 16.59% to Rs 5419.99 crore.  

Operating profit margin has jumped from 19.50% to 28.49%, leading to 70.33% rise in operating profit to Rs 1,544.35 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 30.27% to 28.45%.   Purchase of finished goods cost fell from 7.46% to 5.81%.   Employee cost decreased from 19.09% to 18.05%.   Other expenses fell from 24.39% to 20.19%.   

Other income fell 6.21% to Rs 62.84 crore.  PBIDT rose 65.06% to Rs 1607.19 crore.  Provision for interest fell 45.21% to Rs 9.04 crore.  Loan funds declined from Rs 432.81 crore as of 31 March 2020 to Rs 265.39 crore as of 31 March 2021.  Inventories rose to Rs 1,594.81 crore as of 31 March 2021 from Rs 1,323.12 crore as of 31 March 2020.  Sundry debtors were lower at Rs 811.75 crore as of 31 March 2021 compared to Rs 895.20 crore as of 31 March 2020.  Cash and bank balance rose to Rs 365.07 crore as of 31 March 2021 from Rs 180.92 crore as of 31 March 2020.  Investments rose to Rs 505.26 crore as of 31 March 2021 from Rs 309.56 crore as of 31 March 2020 .  

PBDT rose 66.96% to Rs 1598.15 crore.  Provision for depreciation fell 0.63% to Rs 209.17 crore.  Fixed assets increased to Rs 2,260.65 crore as of 31 March 2021 from Rs 2,129.57 crore as of 31 March 2020.  Intangible assets declined from Rs 62.44 crore to Rs 46.60 crore.  

Profit before tax grew 86.02% to Rs 1,388.98 crore.  Share of profit/loss was 1.41% higher at Rs -7.7 crore.  Provision for tax was expense of Rs 240.14 crore, compared to Rs 135.33 crore.  Effective tax rate was 17.39% compared to 18.32%.

Net profit attributable to owners of the company increased 88.02% to Rs 1,140.01 crore.  

Equity capital increased from Rs 25.27 crore as of 31 March 2020 to Rs 25.37 crore as of 31 March 2021.  Per share face Value remained same at Rs 2.00.  

Promoters' stake was 46.29% as of 31 March 2021 ,compared to 46.07% as of 31 March 2020 .  

Cash flow from operating activities increased to Rs 1,090.13 crore for year ended March 2021 from Rs 570.35 crore for year ended March 2020.  Cash flow used in acquiring fixed assets during the year ended March 2021 stood at Rs 361.55 crore, compared to Rs 306.28 crore during the year ended March 2020.  

Other Highlights

The Board has declared an interim dividend of Rs 81 per share (400%) for the financial year 2021-22.

In Q2 FY22, Exports went down 7%, Indian formulations rose 30% compared to Q2 FY21.

In H1 FY22, Exports went down 4%, Indian formulations rose 28% compared to H1 FY21.

On 24^th Nov 2021, the Board has approved the acquisition of 26.57% of the paid-up share capital of Lyka Labs Limited for Rs. 97.89 crore. Lyka Labs is engaged in the business of manufacturing and marketing of injectables, lyophilized injectables and topical formulations.