Net sales (including other operating income) of Ipca Laboratories has increased 17.26% to Rs 1511.63 crore compared to quarter ended Mar 2022. Operating profit margin has declined from 17.01% to 11.98%, leading to 17.46% decline in operating profit to Rs 181.04 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 29.04% to 28.85%. Purchase of finished goods cost fell from 10.05% to 6.88%. Employee cost increased from 21.01% to 22.86%. Other expenses rose from 24.41% to 28.78%. Other income rose 150.28% to Rs 36.39 crore. PBIDT fell 7.03% to Rs 217.43 crore. Provision for interest rose 445.86% to Rs 18.45 crore. Loan funds rose to Rs 1,481.27 crore as of 31 March 2023 from Rs 807.22 crore as of 31 March 2022. Inventories declined from Rs 1,857.97 crore as of 31 March 2022 to Rs 1,743.37 crore as of 31 March 2023. Sundry debtors were higher at Rs 989.02 crore as of 31 March 2023 compared to Rs 910.78 crore as of 31 March 2022. Cash and bank balance rose to Rs 1,853.24 crore as of 31 March 2023 from Rs 640.66 crore as of 31 March 2022. Investments declined from Rs 989.19 crore as of 31 March 2022 to Rs 625.98 crore as of 31 March 2023.
PBDT fell 13.67% to Rs 198.98 crore. Provision for depreciation rose 14.11% to Rs 69.54 crore. Fixed assets increased to Rs 2,853.67 crore as of 31 March 2023 from Rs 2,669.78 crore as of 31 March 2022. Intangible assets declined from Rs 38.84 crore to Rs 38.14 crore.
Profit before tax down 23.66% to Rs 129.44 crore. Share of profit/loss was 66.74% higher at Rs -2.93 crore. Provision for tax was expense of Rs 48.37 crore, compared to Rs 28.76 crore. Effective tax rate was 38.23% compared to 17.89%.
Minority interest decreased 7.43% to Rs 1.62 crore. Net profit attributable to owners of the company decreased 41.24% to Rs 76.52 crore. Equity capital stood at Rs 25.37 crore as of 31 March 2023 to Rs 25.37 crore as of 31 March 2022. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 46.29% as of 31 March 2023 ,compared to 46.29% as of 31 March 2022 .
Full year results analysis.
Net sales (including other operating income) of Ipca Laboratories has increased 7.11% to Rs 6244.32 crore. Operating profit margin has declined from 22.46% to 14.84%, leading to 29.21% decline in operating profit to Rs 926.77 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 27.93% to 27.81%. Purchase of finished goods cost rose from 8.06% to 8.09%. Employee cost increased from 19.76% to 20.96%. Other expenses rose from 22.29% to 28.05%. Other income rose 88.70% to Rs 125.62 crore. PBIDT fell 23.51% to Rs 1052.39 crore. Provision for interest rose 492.20% to Rs 45.54 crore. Loan funds rose to Rs 1,481.27 crore as of 31 March 2023 from Rs 807.22 crore as of 31 March 2022. Inventories declined from Rs 1,857.97 crore as of 31 March 2022 to Rs 1,743.37 crore as of 31 March 2023. Sundry debtors were higher at Rs 989.02 crore as of 31 March 2023 compared to Rs 910.78 crore as of 31 March 2022. Cash and bank balance rose to Rs 1,853.24 crore as of 31 March 2023 from Rs 640.66 crore as of 31 March 2022. Investments declined from Rs 989.19 crore as of 31 March 2022 to Rs 625.98 crore as of 31 March 2023.
PBDT fell 26.41% to Rs 1006.85 crore. Provision for depreciation rose 12.54% to Rs 261.56 crore. Fixed assets increased to Rs 2,853.67 crore as of 31 March 2023 from Rs 2,669.78 crore as of 31 March 2022. Intangible assets declined from Rs 38.84 crore to Rs 38.14 crore.
Profit before tax down 34.38% to Rs 745.29 crore. Share of profit/loss was 38.85% higher at Rs -12.94 crore. Provision for tax was expense of Rs 253.36 crore, compared to Rs 224.77 crore. Effective tax rate was 34.60% compared to 20.17%.
Minority interest increased 34.33% to Rs 7.67 crore. Net profit attributable to owners of the company decreased 46.69% to Rs 471.32 crore.
Equity capital stood at Rs 25.37 crore as of 31 March 2023 to Rs 25.37 crore as of 31 March 2022. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 46.29% as of 31 March 2023 ,compared to 46.29% as of 31 March 2022 .
Cash flow from operating activities decreased to Rs 805.81 crore for year ended March 2023 from Rs 856.04 crore for year ended March 2022. Cash flow used in acquiring fixed assets during the year ended March 2023 stood at Rs 494.47 crore, compared to Rs 478.95 crore during the year ended March 2022.
Other Highlights
In Q4 FY23,
Exports went up 30%, Indian formulations rose 10% compared to Q4 FY22.
For FY23, Exports
went up 5%, Indian formulations rose 10% compared to FY22.