Net sales (including other operating income) of Ipca Laboratories has increased 8.08% to Rs 1546 crore compared to quarter ended Dec 2021. Operating profit margin has declined from 21.52% to 13.96%, leading to 29.87% decline in operating profit to Rs 215.86 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 28.21% to 24.26%. Purchase of finished goods cost rose from 8.74% to 9.83%. Employee cost increased from 19.19% to 21.33%. Other expenses rose from 23.03% to 30.13%. Other income rose 151.14% to Rs 30.89 crore. PBIDT fell 22.92% to Rs 246.75 crore. Provision for interest rose 658.04% to Rs 10.84 crore.
PBDT fell 25.97% to Rs 235.91 crore. Provision for depreciation rose 13.50% to Rs 66.57 crore.
Profit before tax down 34.88% to Rs 169.34 crore. Share of profit/loss was 28.32% lower at Rs -5.89 crore. Provision for tax was expense of Rs 53.73 crore, compared to Rs 57.33 crore. Effective tax rate was 32.87% compared to 22.44%.
Minority interest increased 5.62% to Rs 1.88 crore. Net profit attributable to owners of the company decreased 45.07% to Rs 107.84 crore. Promoters’ stake was 46.29% as of 31 December 2022 ,compared to 46.29% as of 31 December 2021 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Ipca Laboratories has increased 4.23% to Rs 4732.69 crore.
Operating profit margin has declined from 24% to 15.76%, leading to 31.58% decline in operating profit to Rs 745.73 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 27.58% to 27.50%. Purchase of finished goods cost rose from 7.44% to 8.46%. Employee cost increased from 19.36% to 20.38%. Other expenses rose from 21.63% to 27.83%. Other income rose 71.50% to Rs 89.23 crore. PBIDT fell 26.88% to Rs 834.96 crore. Provision for interest rose 528.54% to Rs 27.09 crore.
PBDT fell 28.99% to Rs 807.87 crore. Provision for depreciation rose 11.98% to Rs 192.02 crore.
Profit before tax down 36.26% to Rs 615.85 crore. Share of profit/loss was 18.95% higher at Rs -10.01 crore. Provision for tax was expense of Rs 204.99 crore, compared to Rs 196.01 crore. Effective tax rate was 33.84% compared to 20.55%.Minority interest increased 52.78% to Rs 6.05 crore. Net profit attributable to owners of the company decreased 47.63% to Rs 394.80 crore.
Promoters’ stake was 46.29% as of 31 December 2022 ,compared to 46.29% as of 31 December 2021 .
Full year results analysis.
Net sales (including other operating income) of Ipca Laboratories has increased 7.56% to Rs 5829.79 crore. Operating profit margin has declined from 28.49% to 22.46%, leading to 15.22% decline in operating profit to Rs 1,309.26 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 28.45% to 27.93%. Purchase of finished goods cost rose from 5.81% to 8.06%. Employee cost increased from 18.05% to 19.76%. Other expenses rose from 20.19% to 22.29%. Other income rose 5.94% to Rs 66.57 crore. PBIDT fell 14.40% to Rs 1375.83 crore. Provision for interest fell 14.93% to Rs 7.69 crore. Loan funds rose to Rs 807.22 crore as of 31 March 2022 from Rs 265.39 crore as of 31 March 2021. Inventories rose to Rs 1,857.97 crore as of 31 March 2022 from Rs 1,594.81 crore as of 31 March 2021. Sundry debtors were higher at Rs 910.78 crore as of 31 March 2022 compared to Rs 811.75 crore as of 31 March 2021. Cash and bank balance rose to Rs 640.66 crore as of 31 March 2022 from Rs 365.07 crore as of 31 March 2021. Investments rose to Rs 989.19 crore as of 31 March 2022 from Rs 505.26 crore as of 31 March 2021 .
PBDT fell 14.39% to Rs 1368.14 crore. Provision for depreciation rose 11.12% to Rs 232.42 crore. Fixed assets increased to Rs 2,669.79 crore as of 31 March 2022 from Rs 2,260.65 crore as of 31 March 2021. Intangible assets increased from Rs 46.60 crore to Rs 54.16 crore.
Profit before tax down 18.23% to Rs 1,135.72 crore. Share of profit/loss was 174.81% lower at Rs -21.16 crore. Provision for tax was expense of Rs 224.77 crore, compared to Rs 240.14 crore. Effective tax rate was 20.17% compared to 17.39%.
Minority interest increased 405.31% to Rs 5.71 crore. Net profit attributable to owners of the company decreased 22.45% to Rs 884.08 crore.
Equity capital stood at Rs 25.37 crore as of 31 March 2022 to Rs 25.37 crore as of 31 March 2021. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 46.29% as of 31 March 2022 ,compared to 46.29% as of 31 March 2021 .
Cash flow from operating activities decreased to Rs 856.04 crore for year ended March 2022 from Rs 1,090.13 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 478.95 crore, compared to Rs 361.55 crore during the year ended March 2021.
Other Highlights
In Q3 FY23,
Exports went up 12%, Indian formulations rose 9% compared to Q3 FY22.
For 9M FY23,
Exports went down 1%, Indian formulations rose 10% compared to 9M FY22.