For
the quarter ending Sept 2023, consolidated Net sales (including other operating income) of Glaxosmithkline Pharmaceuticals has increased 4.38% to Rs 956.99 crore compared to quarter ended Sept 2022. Operating profit margin has jumped from 28.02% to 30.25%, leading to 12.67% rise in operating profit to Rs 289.49 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 14.75% to 9.56%. Purchase of finished goods cost rose from 23.86% to 27.31%. Employee cost decreased from 15.79% to 15.22%. Other expenses rose from 17.01% to 17.59%. Other income rose 28.40% to Rs 28.21 crore. PBIDT rose 13.91% to Rs 317.7 crore. Provision for interest rose 10.26% to Rs 0.43 crore. Loan funds declined from Rs 23.24 crore as of 30 September 2022 to Rs 21.38 crore as of 30 September 2023. Inventories declined from Rs 646.09 crore as of 30 September 2022 to Rs 537.44 crore as of 30 September 2023. Sundry debtors were higher at Rs 211.07 crore as of 30 September 2023 compared to Rs 165.58 crore as of 30 September 2022. Cash and bank balance rose to Rs 1,091.31 crore as of 30 September 2023 from Rs 756.67 crore as of 30 September 2022. Investments declined from Rs 548.56 crore as of 30 September 2022 to Rs 513.99 crore as of 30 September 2023.
PBDT rose 13.92% to Rs 317.27 crore. Provision for depreciation rose 10.70% to Rs 18.11 crore. Fixed assets declined from Rs 324.42 crore as of 30 September 2022 to Rs 315.24 crore as of 30 September 2023. Intangible assets declined from Rs 29.73 crore to Rs 28.85 crore.
Profit before tax grew 14.12% to Rs 299.16 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 81.65 crore, compared to Rs 68.73 crore. Effective tax rate was 27.29% compared to 26.22%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 12.45% to Rs 217.51 crore. Equity capital stood at Rs 169.41 crore as of 30 September 2023 to Rs 169.41 crore as of 30 September 2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 75.00% as of 30 September 2023 ,compared to 75.00% as of 30 September 2022 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Glaxosmithkline Pharmaceuticals has increased 3.41% to Rs 1718.65 crore.
Operating profit margin has jumped from 24.42% to 25.22%, leading to 6.78% rise in operating profit to Rs 433.37 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 16.07% to 14.24%. Purchase of finished goods cost fell from 27.27% to 24.81%. Employee cost increased from 16.45% to 17.70%. Other expenses rose from 17.45% to 18.52%. Other income rose 30.40% to Rs 64.65 crore. PBIDT rose 9.35% to Rs 498.02 crore. Provision for interest fell 33.64% to Rs 0.71 crore. Loan funds declined from Rs 23.24 crore as of 30 September 2022 to Rs 21.38 crore as of 30 September 2023. Inventories declined from Rs 646.09 crore as of 30 September 2022 to Rs 537.44 crore as of 30 September 2023. Sundry debtors were higher at Rs 211.07 crore as of 30 September 2023 compared to Rs 165.58 crore as of 30 September 2022. Cash and bank balance rose to Rs 1,091.31 crore as of 30 September 2023 from Rs 756.67 crore as of 30 September 2022. Investments declined from Rs 548.56 crore as of 30 September 2022 to Rs 513.99 crore as of 30 September 2023.
PBDT rose 9.45% to Rs 497.31 crore. Provision for depreciation rose 7.12% to Rs 34.47 crore. Fixed assets declined from Rs 324.42 crore as of 30 September 2022 to Rs 315.24 crore as of 30 September 2023. Intangible assets declined from Rs 29.73 crore to Rs 28.85 crore.
Profit before tax grew 9.63% to Rs 462.84 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 130.38 crore, compared to Rs 112.53 crore. Effective tax rate was 27.15% compared to 26.65%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 12.95% to Rs 349.76 crore.
Equity capital stood at Rs 169.41 crore as of 30 September 2023 to Rs 169.41 crore as of 30 September 2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 75.00% as of 30 September 2023 ,compared to 75.00% as of 30 September 2022 .
Full year results analysis.
Net sales (including other operating income) of Glaxosmithkline Pharmaceuticals has declined 0.80% to Rs 3251.72 crore. Operating profit margin has jumped from 23.24% to 24.73%, leading to 5.57% rise in operating profit to Rs 804.29 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 18.73% to 13.43%. Purchase of finished goods cost rose from 22.36% to 24.77%. Employee cost decreased from 18.70% to 18.69%. Other expenses rose from 16.85% to 17.83%. Other income rose 32.83% to Rs 100.66 crore. PBIDT rose 8.03% to Rs 904.95 crore. Provision for interest fell 9.50% to Rs 1.81 crore. Loan funds declined from Rs 20.07 crore as of 31 March 2022 to Rs 15.54 crore as of 31 March 2023. Inventories declined from Rs 534.70 crore as of 31 March 2022 to Rs 459.97 crore as of 31 March 2023. Sundry debtors were lower at Rs 192.38 crore as of 31 March 2023 compared to Rs 205.24 crore as of 31 March 2022. Cash and bank balance declined from Rs 2,484.51 crore as of 31 March 2022 to Rs 1,155.93 crore as of 31 March 2023. Investments rose to Rs 518.29 crore as of 31 March 2023 from Rs 365.59 crore as of 31 March 2022 .
PBDT rose 8.08% to Rs 903.14 crore. Provision for depreciation fell 3.55% to Rs 65.77 crore. Fixed assets declined from Rs 326.65 crore as of 31 March 2022 to Rs 316.18 crore as of 31 March 2023. Intangible assets declined from Rs 34.50 crore to Rs 34.09 crore.
Profit before tax grew 9.11% to Rs 837.37 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 228.76 crore, compared to Rs 398.28 crore. Effective tax rate was 27.35% compared to 51.12%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 59.58% to Rs 607.64 crore.
Equity capital stood at Rs 169.41 crore as of 31 March 2023 to Rs 169.41 crore as of 31 March 2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 75.00% as of 31 March 2023 ,compared to 75.00% as of 31 March 2022 .
Cash flow from operating activities decreased to Rs 484.23 crore for year ended March 2023 from Rs 810.74 crore for year ended March 2022. Cash flow used in acquiring fixed assets during the year ended March 2023 stood at Rs 44.04 crore, compared to Rs 34.64 crore during the year ended March 2022.
Management Comments :
Mr. Bhushan Akshikar, Managing Director,
GlaxoSmithKline Pharmaceuticals commented, "Our Q2 performance reflects an
overall recovery with market share gains in several key promoted brands across
all business units. We held leadership position for our key brands in relevant
therapy areas such as anti-infectives and dermatology. Our focus in the coming
quarters will remain on strong volume led performance in General Medicines and
Paediatric vaccines. We will also explore innovative solutions using
Omnichannel strategy to expand our reach and coverage to our target segments.
We continue to drive the expansion of the adult immunisation category with
Shingrix (Zoster Vaccine Recombinant, Adjuvanted).”