For
the quarter ending Dec 2022, consolidated Net sales (including other operating income) of Glaxosmithkline Pharmaceuticals has declined 1.67% to Rs 802.3 crore compared to quarter ended Dec 2021. Operating profit margin has jumped from 24.24% to 28.51%, leading to 15.62% rise in operating profit to Rs 228.70 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 14.60% to 6.85%. Purchase of finished goods cost fell from 25.73% to 18.17%. Employee cost increased from 17.14% to 22.31%. Other expenses rose from 18.72% to 19.32%. Other income rose 126.94% to Rs 23.42 crore. PBIDT rose 21.14% to Rs 252.12 crore. Provision for interest fell 84.48% to Rs 0.09 crore.
PBDT rose 21.43% to Rs 252.03 crore. Provision for depreciation fell 8.17% to Rs 16.41 crore.
Profit before tax grew 24.22% to Rs 235.62 crore. Share of profit/loss were nil in both the periods. Extraordinary items were increased to Rs -11.37 crore. Provision for tax was expense of Rs 59.69 crore, compared to Rs 33.48 crore. Effective tax rate was 26.62% compared to 19.49%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 19% to Rs 164.56 crore. Net profit after discontinued operations increased 9.45% to Rs 164.56 crore. Promoters' stake was 75.00% as of 31 December 2022 ,compared to 75.00% as of 31 December 2021 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Glaxosmithkline Pharmaceuticals has declined 0.17% to Rs 2464.27 crore.
Operating profit margin has jumped from 23.77% to 25.75%, leading to 8.16% rise in operating profit to Rs 634.55 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 18.73% to 13.51%. Purchase of finished goods cost rose from 22.06% to 24.74%. Employee cost decreased from 19.02% to 18.08%. Other expenses rose from 16.45% to 17.97%. Other income rose 28.03% to Rs 73 crore. PBIDT rose 9.92% to Rs 707.55 crore. Provision for interest fell 32.56% to Rs 1.16 crore.
PBDT rose 10.04% to Rs 706.39 crore. Provision for depreciation fell 8.04% to Rs 48.59 crore.
Profit before tax grew 11.66% to Rs 657.80 crore. Share of profit/loss were nil in both the periods. Extraordinary items were increased to Rs -11.37 crore. Provision for tax was expense of Rs 172.22 crore, compared to Rs 135.77 crore. Effective tax rate was 26.64% compared to 23.77%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 8.91% to Rs 474.21 crore.
Promoters' stake was 75.00% as of 31 December 2022 ,compared to 75.00% as of 31 December 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 :
GSK Pharma
Managing Director Bhushan Akshikar said, "General medicines portfolio grew by 10% led
by anti-infectives and dermatology therapies. Augmentin became the no.1 brand
in the Indian Pharmaceuticals market (IPM) in 2022. Vaccine sales were down for
the quarter in a declining self-pay vaccines market. However, we continue to
gain market share for key vaccine brands."