For
the quarter ending March 2024, standalone net sales (including other operating income) of Abbott India has increased 7.11% to Rs 1,438.63 crore compared to quarter ended March 2023.Operating profit margin has jumped from 20.86% to 22.91%, leading to 17.64% rise in operating profit to Rs 329.53 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 9.31% to 10.49%. Purchase of finished goods cost fell from 48.58% to 48.47%. Employee cost increased from 9.15% to 9.42%. Other expenses fell from 12.73% to 10.25%. Other income up 63.48% to Rs 81.15 crore. PBIDT rose 24.54% to Rs 410.68 crore. Provision for interest fell 29.93% to Rs 2.81 crore. Loan funds declined from Rs 113.17 crore as of 31 March 2023 to Rs 83.23 crore as of 31 March 2024. Inventories declined from Rs 648.85 crore as of 31 March 2023 to Rs 619.58 crore as of 31 March 2024. Sundry debtors were higher at Rs 319.11 crore as of 31 March 2024 compared to Rs 318.80 crore as of 31 March 2023. Cash and bank balance rose to Rs 2,134.49 crore as of 31 March 2024 from Rs 1,937.06 crore as of 31 March 2023.
PBDT rose 25.21% to Rs 407.87 crore. Provision for depreciation rose 4.90% to Rs 18.19 crore. Fixed assets declined from Rs 233.05 crore as of 31 March 2023 to Rs 228.39 crore as of 31 March 2024. Intangible assets declined from Rs 7.52 crore to Rs 6.66 crore.
Profit before tax grew 26.35% to Rs 389.68 crore. Provision for tax was expense of Rs 102.62 crore, compared to Rs 76.99 crore. Effective tax rate was 26.33% compared to 24.96%.
Profit after tax rose 24.04% to Rs 287.06 crore.
Equity capital stood at Rs 21.25 crore as of 31 March 2024 to Rs 21.25 crore as of 31 March 2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 74.99% as of 31 March 2024 ,compared to 74.99% as of 31 March 2023 .
Full year results analysis
Net sales (including other operating income) of Abbott India has increased 9.35% to Rs 5,848.91 crore. Operating profit margin has jumped from 22.54% to 24.84%, leading to 20.53% rise in operating profit to Rs 1,453.10 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 10.57% to 9.68%. Purchase of finished goods cost rose from 44.49% to 45.32%. Employee cost decreased from 10.67% to 9.87%. Other expenses fell from 11.44% to 10.25%. Other income up 61.06% to Rs 248.27 crore. PBIDT rose 25.12% to Rs 1701.37 crore. Provision for interest fell 22.14% to Rs 12.45 crore. Loan funds declined from Rs 113.17 crore as of 31 March 2023 to Rs 83.23 crore as of 31 March 2024. Inventories declined from Rs 648.85 crore as of 31 March 2023 to Rs 619.58 crore as of 31 March 2024. Sundry debtors were higher at Rs 319.11 crore as of 31 March 2024 compared to Rs 318.80 crore as of 31 March 2023. Cash and bank balance rose to Rs 2,134.49 crore as of 31 March 2024 from Rs 1,937.06 crore as of 31 March 2023.
PBDT rose 25.68% to Rs 1688.92 crore. Provision for depreciation rose 1.72% to Rs 71.17 crore. Fixed assets declined from Rs 233.05 crore as of 31 March 2023 to Rs 228.39 crore as of 31 March 2024. Intangible assets declined from Rs 7.52 crore to Rs 6.66 crore.
Profit before tax grew 27% to Rs 1,617.75 crore. Provision for tax was expense of Rs 416.53 crore, compared to Rs 324.41 crore. Effective tax rate was 25.75% compared to 25.47%.
Profit after tax rose 26.52% to Rs 1,201.22 crore.
Equity capital stood at Rs 21.25 crore as of 31 March 2024 to Rs 21.25 crore as of 31 March 2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 74.99% as of 31 March 2024 ,compared to 74.99% as of 31 March 2023 .
Cash flow from operating activities increased to Rs 1,212.81 crore for year ended March 2024 from Rs 893.39 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 48.33 crore, compared to Rs 34.11 crore during the year ended March 2023.
Dividend update
The
board recommended a final dividend of Rs 410 per equity share of Rs 10 each for
the year ended March 31, 2024. The Company has fixed
Friday, July 19, 2024 as the Record Date.