For
the quarter ending March 2024, consolidated Net sales (including other operating income) of Divis Laboratories has increased 18.04% to Rs 2303 crore compared to quarter ended March 2023. Operating profit margin has jumped from 24.96% to 31.74%, leading to 50.10% rise in operating profit to Rs 731.00 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 41.82% to 38.96%. Employee cost decreased from 13.35% to 12.89%. Other expenses fell from 19.62% to 16.18%. Other income rose 19.70% to Rs 79 crore. PBIDT rose 46.47% to Rs 810 crore. Provision for interest remained nil. Loan funds declined from Rs 4.00 crore as of 31 March 2023 to Rs 3.00 crore as of 31 March 2024. Inventories rose to Rs 3,184.00 crore as of 31 March 2024 from Rs 3,000.00 crore as of 31 March 2023. Sundry debtors were higher at Rs 2,156.00 crore as of 31 March 2024 compared to Rs 1,793.00 crore as of 31 March 2023. Cash and bank balance declined from Rs 4,214.00 crore as of 31 March 2023 to Rs 3,980.00 crore as of 31 March 2024. Investments rose to Rs 82.00 crore as of 31 March 2024 from Rs 77.00 crore as of 31 March 2023 .
PBDT rose 46.11% to Rs 808 crore. Provision for depreciation rose 9.20% to Rs 95 crore. Fixed assets increased to Rs 5,513.00 crore as of 31 March 2024 from Rs 4,929.00 crore as of 31 March 2023. Intangible assets declined from Rs 5.00 crore to Rs 4.00 crore.
Profit before tax grew 53% to Rs 713.00 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 175 crore, compared to Rs 145 crore. Effective tax rate was 24.54% compared to 31.12%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 67.60% to Rs 538.00 crore. Equity capital stood at Rs 53.00 crore as of 31 March 2024 to Rs 53.00 crore as of 31 March 2023. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 51.92% as of 31 March 2024 ,compared to 51.94% as of 31 March 2023 .
Full year results analysis.
Net sales (including other operating income) of Divis Laboratories has increased 1% to Rs 7845 crore. Operating profit margin has declined from 30.49% to 28.11%, leading to 6.88% decline in operating profit to Rs 2,205.00 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 38.84% to 40.63%. Purchase of finished goods cost fell from 0.28% to 0.08%. Employee cost increased from 12.59% to 13.75%. Other expenses rose from 17.70% to 17.81%. Other income fell 1.74% to Rs 339 crore. PBIDT fell 6.23% to Rs 2544 crore. Provision for interest rose 200% to Rs 3 crore. Loan funds declined from Rs 4.00 crore as of 31 March 2023 to Rs 3.00 crore as of 31 March 2024. Inventories rose to Rs 3,184.00 crore as of 31 March 2024 from Rs 3,000.00 crore as of 31 March 2023. Sundry debtors were higher at Rs 2,156.00 crore as of 31 March 2024 compared to Rs 1,793.00 crore as of 31 March 2023. Cash and bank balance declined from Rs 4,214.00 crore as of 31 March 2023 to Rs 3,980.00 crore as of 31 March 2024. Investments rose to Rs 82.00 crore as of 31 March 2024 from Rs 77.00 crore as of 31 March 2023 .
PBDT fell 6.31% to Rs 2541 crore. Provision for depreciation rose 10.20% to Rs 378 crore. Fixed assets increased to Rs 5,513.00 crore as of 31 March 2024 from Rs 4,929.00 crore as of 31 March 2023. Intangible assets declined from Rs 5.00 crore to Rs 4.00 crore.
Profit before tax down 8.70% to Rs 2,163.00 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 563 crore, compared to Rs 545 crore. Effective tax rate was 26.03% compared to 23.01%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 12.28% to Rs 1,600.00 crore.
Equity capital stood at Rs 53.00 crore as of 31 March 2024 to Rs 53.00 crore as of 31 March 2023. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 51.92% as of 31 March 2024 ,compared to 51.94% as of 31 March 2023 .
Cash flow from operating activities decreased to Rs 1,261.00 crore for year ended March 2024 from Rs 2,459.00 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 1,003.00 crore, compared to Rs 473.00 crore during the year ended March 2023.
Other highlights
The board recommended a final dividend of
Rs 30 per equity share of face value Rs 2 each for the financial year 2023-24. Record
date for the purpose of the payment of dividend is August 02, 2024.