For
the quarter ending Dec 2023, consolidated Net sales (including other operating income) of Dr Lal Pathlabs has increased 10.11% to Rs 538.9 crore compared to quarter ended Dec 2022. Operating profit margin has jumped from 23.09% to 26.09%, leading to 24.42% rise in operating profit to Rs 140.60 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 22.66% to 19.86%. Employee cost increased from 19.68% to 20.23%. Other expenses fell from 34.57% to 33.83%. Selling and administration expenses rose from 14.16% to 14.42%. Other income rose 74.29% to Rs 18.3 crore. PBIDT rose 28.66% to Rs 158.9 crore. Provision for interest fell 23.08% to Rs 7 crore.
PBDT rose 32.78% to Rs 151.9 crore. Provision for depreciation fell 5.01% to Rs 36 crore.
Profit before tax grew 51.50% to Rs 115.90 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 33.7 crore, compared to Rs 22.9 crore. Effective tax rate was 29.08% compared to 29.93%.
Minority interest increased 12.50% to Rs 0.90 crore. Net profit attributable to owners of the company increased 53.98% to Rs 81.30 crore. Promoters’ stake was 54.60% as of 31 December 2023 ,compared to 55.05% as of 31 December 2022 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Dr Lal Pathlabs has increased 10.18% to Rs 1681.2 crore.
Operating profit margin has jumped from 24.53% to 27.64%, leading to 24.13% rise in operating profit to Rs 464.60 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 22.37% to 20.37%. Employee cost increased from 18.61% to 18.98%. Other expenses fell from 34.49% to 33.01%. Selling and administration expenses rose from 13.97% to 14.12%. Other income rose 84.73% to Rs 50.8 crore. PBIDT rose 28.27% to Rs 515.4 crore. Provision for interest fell 20% to Rs 22.8 crore.
PBDT rose 31.96% to Rs 492.6 crore. Provision for depreciation fell 4.97% to Rs 107 crore.
Profit before tax grew 47.91% to Rs 385.60 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 109.1 crore, compared to Rs 76.5 crore. Effective tax rate was 28.29% compared to 29.34%.Minority interest increased 65% to Rs 3.30 crore. Net profit attributable to owners of the company increased 49.95% to Rs 273.20 crore.
Promoters’ stake was 54.60% as of 31 December 2023 ,compared to 55.05% as of 31 December 2022 .
Full year results analysis.
Net sales (including other operating income) of Dr Lal Pathlabs has declined 3.38% to Rs 2016.9 crore. Operating profit margin has declined from 26.86% to 24.29%, leading to 12.63% decline in operating profit to Rs 489.90 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 24.06% to 22.17%. Employee cost increased from 17.48% to 18.67%. Other expenses rose from 31.59% to 34.87%. Selling and administration expenses rose from 13.63% to 13.98%. Other income fell 20.57% to Rs 41.7 crore. PBIDT fell 13.31% to Rs 531.6 crore. Provision for interest rose 24.17% to Rs 37.5 crore. Loan funds declined from Rs 532.70 crore as of 31 March 2022 to Rs 419.50 crore as of 31 March 2023. Inventories declined from Rs 52.40 crore as of 31 March 2022 to Rs 33.80 crore as of 31 March 2023. Sundry debtors were lower at Rs 70.80 crore as of 31 March 2023 compared to Rs 85.40 crore as of 31 March 2022. Cash and bank balance rose to Rs 665.40 crore as of 31 March 2023 from Rs 617.60 crore as of 31 March 2022. Investments rose to Rs 149.90 crore as of 31 March 2023 from Rs 65.50 crore as of 31 March 2022 .
PBDT fell 15.25% to Rs 494.1 crore. Provision for depreciation rose 38.95% to Rs 150.2 crore. Fixed assets declined from Rs 840.40 crore as of 31 March 2022 to Rs 762.20 crore as of 31 March 2023. Intangible assets increased from Rs 543.50 crore to Rs 547.80 crore.
Profit before tax down 27.58% to Rs 343.90 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 102.8 crore, compared to Rs 124.6 crore. Effective tax rate was 29.89% compared to 26.24%.
Minority interest decreased 60% to Rs 2.20 crore. Net profit attributable to owners of the company decreased 30.71% to Rs 238.90 crore.
Equity capital increased from Rs 83.30 crore as of 31 March 2022 to Rs 83.40 crore as of 31 March 2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 55.03% as of 31 March 2023 ,compared to 55.23% as of 31 March 2022 .
Cash flow from operating activities increased to Rs 456.00 crore for year ended March 2023 from Rs 446.70 crore for year ended March 2022. Cash flow used in acquiring fixed assets during the year ended March 2023 stood at Rs 44.60 crore, compared to Rs 476.10 crore during the year ended March 2022.
Other Highlights
Company approved 2nd Interim Dividend of
Rs 12 per equity share (120% on a face value of Rs 10 per share) for the FY24.
The record date for the purpose of payment of 2nd Interim Dividend shall be
February 13, 2024.