For
the quarter ending June 2022, consolidated net sales (including other operating income) of Glaxosmithkline Pharmaceuticals has increased 3.72% to Rs 745.1 crore compared to quarter ended june 2021.
Operating profit margin has declined from 21.09% to 19.99%, leading to 1.70% decline in operating profit to Rs 148.92 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 24.85% to 17.40%. Purchase of finished goods cost rose from 17.37% to 30.74%. Employee cost decreased from 22.96% to 17.11%. Other expenses fell from 23.89% to 17.89%. Other income fell 12.98% to Rs 27.61 crore. PBIDT fell 3.66% to Rs 176.53 crore. Provision for interest fell 13.92% to Rs 0.68 crore.
PBDT fell 3.61% to Rs 175.85 crore. Provision for depreciation fell 9.81% to Rs 15.82 crore.
Profit before tax down 2.95% to Rs 160.03 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 43.8 crore, compared to Rs 43.82 crore. Effective tax rate was 27.37% compared to 26.57%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 4.01% to Rs 116.23 crore. Promoters’ stake was 75.00% as of 30 June 2022 ,compared to 75.00% as of 30 June 2021 .
Full year results analysis.
Net sales (including other operating income) of Glaxosmithkline Pharmaceuticals has increased 12.05% to Rs 3278.03 crore. Operating profit margin has jumped from 20.45% to 23.24%, leading to 27.37% rise in operating profit to Rs 761.88 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 15.92% to 18.73%. Purchase of finished goods cost fell from 27.77% to 22.36%. Employee cost decreased from 20.79% to 18.70%. Other expenses rose from 15.33% to 16.85%. Other income fell 31.47% to Rs 75.78 crore. PBIDT rose 18.19% to Rs 837.66 crore. Provision for interest fell 43.34% to Rs 2 crore. Loan funds declined from Rs 34.62 crore as of 31 March 2021 to Rs 20.07 crore as of 31 March 2022. Inventories declined from Rs 546.70 crore as of 31 March 2021 to Rs 534.70 crore as of 31 March 2022. Sundry debtors were lower at Rs 205.24 crore as of 31 March 2022 compared to Rs 215.60 crore as of 31 March 2021. Cash and bank balance rose to Rs 2,484.51 crore as of 31 March 2022 from Rs 1,157.96 crore as of 31 March 2021.
PBDT rose 18.50% to Rs 835.66 crore. Provision for depreciation fell 13.24% to Rs 68.19 crore. Fixed assets declined from Rs 356.75 crore as of 31 March 2021 to Rs 326.65 crore as of 31 March 2022. Intangible assets declined from Rs 43.36 crore to Rs 34.50 crore.
Profit before tax grew 22.48% to Rs 767.47 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 398.28 crore, compared to Rs 166.72 crore. Effective tax rate was 51.12% compared to 36.72%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 32.55% to Rs 380.77 crore.
Equity capital stood at Rs 169.41 crore as of 31 March 2022 to Rs 169.41 crore as of 31 March 2021. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 75.00% as of 31 March 2022 ,compared to 75.00% as of 31 March 2021 .
Cash flow from operating activities increased to Rs 810.74 crore for year ended March 2022 from Rs 577.92 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 34.64 crore, compared to Rs 44.23 crore during the year ended March 2021.
Management Comments :
Sridhar Venkatesh, Managing Director, GlaxoSmithKline
Pharmaceuticals, said, "Our results reflect good momentum across
general medicines and vaccines during the quarter. We have delivered strong
underlying growth with market share gains across focus brands. Our vaccines
business has maintained leadership in the self-pay segment while the overall
vaccines market continues to be in decline. During the quarter, we launched one
of our innovative products, Trelegy Ellipta the first single-inhaler triple therapy
(SITT) in India for Chronic Obstructive Pulmonary Disease (COPD) patients in a
once-daily regime for patients aged 18 and above. With this launch, we are
enabling Indian COPD patients to benefit from this world-leading medicine. We
expect to build on this momentum as we continue to invest in our focus brands
to drive growth."
| Glaxosmithkline Pharmaceuticals : Consolidated Results |
| | Quarter ended | Year ended |
|---|
| Particulars | 202206 | 202106 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 745.10 | 718.37 | 3.72 | 3,278.03 | 2,925.60 | 12.05 | | OPM (%) | 19.99 | 21.09 | -110 bps | 23.24 | 20.45 | 280 bps | | OP | 148.92 | 151.50 | -1.70 | 761.88 | 598.14 | 27.37 | | Other Inc. | 27.61 | 31.73 | -12.98 | 75.78 | 110.58 | -31.47 | | PBIDT | 176.53 | 183.23 | -3.66 | 837.66 | 708.72 | 18.19 | | Interest | 0.68 | 0.79 | -13.92 | 2.00 | 3.53 | -43.34 | | PBDT | 175.85 | 182.44 | -3.61 | 835.66 | 705.19 | 18.50 | | Depreciation | 15.82 | 17.54 | -9.81 | 68.19 | 78.6 | -13.24 | | PBT | 160.03 | 164.90 | -2.95 | 767.47 | 626.59 | 22.48 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 160.03 | 164.9 | -2.95 | 767.47 | 626.59 | 22.48 | | EO Income | 0 | 0 | - | 11.58 | -172.6 | LP | | PBT after EO | 160.03 | 164.9 | -2.95 | 779.05 | 453.99 | 71.60 | | Taxation | 43.8 | 43.82 | -0.05 | 398.28 | 166.72 | 138.89 | | PAT | 116.23 | 121.08 | -4.01 | 380.77 | 287.27 | 32.55 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | | Net profit | 116.23 | 121.08 | -4.01 | 380.77 | 287.27 | 32.55 | | P/(L) from discontinued operations net of tax | 3.05 | 0 | - | 1313.95 | 70.88 | 1,753.77 | | Net profit after discontinued operations | 119.28 | 121.08 | -1.49 | 1694.72 | 358.15 | 373.19 | | EPS (Rs)* | 6.86 | 7.15 | -4.01 | 22.14 | 23.40 | -5.39 | | | * EPS is on current equity of Rs 169.41 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|