Net sales (including other operating income) of Ipca Laboratories has increased 27.05% to Rs 2033.96 crore compared to quarter ended Sept 2022. Sales of India segment has gone up 9.63% to Rs 979.01 crore (accounting for 48.13% of total sales). Sales of Outside India segment has gone up 49.02% to Rs 1,054.95 crore (accounting for 51.87% of total sales). Operating profit margin has declined from 16.28% to 15.80%, leading to 23.26% rise in operating profit to Rs 321.27 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 29.16% to 28.87%. Purchase of finished goods cost fell from 8.44% to 6.83%. Employee cost increased from 19.41% to 20.19%. Other expenses rose from 27.15% to 28.88%. Other income rose 6.40% to Rs 38.55 crore. PBIDT rose 21.20% to Rs 359.82 crore. Provision for interest rose 373.90% to Rs 44.12 crore. Loan funds rose to Rs 1,987.46 crore as of 30 September 2023 from Rs 733.70 crore as of 30 September 2022. Inventories rose to Rs 2,450.25 crore as of 30 September 2023 from Rs 1,823.22 crore as of 30 September 2022. Sundry debtors were higher at Rs 1,760.01 crore as of 30 September 2023 compared to Rs 1,103.12 crore as of 30 September 2022. Cash and bank balance declined from Rs 1,192.21 crore as of 30 September 2022 to Rs 498.77 crore as of 30 September 2023. Investments rose to Rs 760.03 crore as of 30 September 2023 from Rs 370.10 crore as of 30 September 2022 .
PBDT rose 9.79% to Rs 315.7 crore. Provision for depreciation rose 41.73% to Rs 90.34 crore. Fixed assets increased to Rs 4,764.50 crore as of 30 September 2023 from Rs 2,574.28 crore as of 30 September 2022. Intangible assets declined from Rs 227.01 crore to Rs 90.57 crore.
Profit before tax grew 0.69% to Rs 225.36 crore. Share of profit/loss was 2.15% lower at Rs -0.95 crore. Provision for tax was expense of Rs 87.92 crore, compared to Rs 77 crore. Effective tax rate was 39.18% compared to 34.55%.
Net profit attributable to owners of the company increased 0.81% to Rs 145.06 crore. Equity capital stood at Rs 25.37 crore as of 30 September 2023 to Rs 25.37 crore as of 30 September 2022. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 46.29% as of 30 September 2023 ,compared to 46.29% as of 30 September 2022 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Ipca Laboratories has increased 13.57% to Rs 3619.17 crore. Sales of India segment has gone up 9.89% to Rs 1,869.62 crore (accounting for 51.66% of total sales). Sales of Outside India segment has gone up 17.79% to Rs 1,749.55 crore (accounting for 48.34% of total sales).
Operating profit margin has jumped from 16.63% to 17.38%, leading to 18.69% rise in operating profit to Rs 628.89 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 29.00% to 27.90%. Purchase of finished goods cost fell from 7.83% to 7.10%. Employee cost increased from 19.94% to 20.99%. Other expenses rose from 26.77% to 27.16%. Other income rose 42.96% to Rs 83.4 crore. PBIDT rose 21.09% to Rs 712.29 crore. Provision for interest rose 364.62% to Rs 75.5 crore. Loan funds rose to Rs 1,987.46 crore as of 30 September 2023 from Rs 733.70 crore as of 30 September 2022. Inventories rose to Rs 2,450.25 crore as of 30 September 2023 from Rs 1,823.22 crore as of 30 September 2022. Sundry debtors were higher at Rs 1,760.01 crore as of 30 September 2023 compared to Rs 1,103.12 crore as of 30 September 2022. Cash and bank balance declined from Rs 1,192.21 crore as of 30 September 2022 to Rs 498.77 crore as of 30 September 2023. Investments rose to Rs 760.03 crore as of 30 September 2023 from Rs 370.10 crore as of 30 September 2022 .
PBDT rose 11.33% to Rs 636.79 crore. Provision for depreciation rose 27.23% to Rs 159.61 crore. Fixed assets increased to Rs 4,764.50 crore as of 30 September 2023 from Rs 2,574.28 crore as of 30 September 2022. Intangible assets declined from Rs 227.01 crore to Rs 90.57 crore.
Profit before tax grew 6.87% to Rs 477.18 crore. Share of profit/loss was 25.73% higher at Rs -3.06 crore. Provision for tax was expense of Rs 173.53 crore, compared to Rs 151.26 crore. Effective tax rate was 36.60% compared to 34.19%.Net profit attributable to owners of the company increased 7.29% to Rs 307.88 crore.
Equity capital stood at Rs 25.37 crore as of 30 September 2023 to Rs 25.37 crore as of 30 September 2022. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 46.29% as of 30 September 2023 ,compared to 46.29% as of 30 September 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
Board has declared an interim dividend of
Rs 21 per equity share (200%) for the financial year 2023-24. 22nd November,
2023 has been fixed as the Record Date for the same.
In Q2 FY24,
Exports went up 14%, Indian formulations rose 10% compared to Q2 FY23.