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For quarter ending June 2024, consolidated Net sales (including other operating income) of Ipca Laboratories has increased 32.01% to Rs 2092.63 crore compared to quarter ended June 2023. Sales of India segment has gone up 13.01% to Rs 1,006.47 crore (accounting for 48.10% of total sales). Sales of Outside India segment has gone up 56.37% to Rs 1,086.16 crore (accounting for 51.90% of total sales). Operating profit margin has declined from 19.41% to 18.77%, leading to 27.66% rise in operating profit to Rs 392.72 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 26.64% to 25.81%. Purchase of finished goods cost fell from 7.46% to 5.62%. Employee cost increased from 22.02% to 23.09%. Other expenses rose from 24.93% to 26.91%. Other income fell 54.05% to Rs 20.61 crore. PBIDT rose 17.27% to Rs 413.33 crore. Provision for interest fell 23.36% to Rs 24.05 crore. PBDT rose 21.24% to Rs 389.28 crore. Provision for depreciation rose 42.76% to Rs 98.89 crore. Profit before tax grew 15.32% to Rs 290.39 crore. Provision for tax was expense of Rs 91.41 crore, compared to Rs 85.61 crore. Effective tax rate was 31.46% compared to 34.28%. Minority interest increased 439.06% to Rs 6.90 crore. Net profit attributable to owners of the company increased 18.07% to Rs 192.24 crore. Promoters’ stake was 46.30% as of 30 June 2024 ,compared to 46.29% as of 30 June 2023 .
Full year results analysis.
Net sales (including other operating income) of Ipca Laboratories has increased 23.39% to Rs 7705.04 crore. Operating profit margin has jumped from 14.84% to 17.15%, leading to 42.56% rise in operating profit to Rs 1,321.16 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 27.81% to 28.28%. Purchase of finished goods cost fell from 8.09% to 6.25%. Employee cost increased from 20.96% to 21.80%. Other expenses fell from 28.05% to 26.80%. Other income fell 0.68% to Rs 124.77 crore. PBIDT rose 37.39% to Rs 1445.93 crore. Provision for interest rose 203.62% to Rs 138.27 crore. Loan funds declined from Rs 1,481.27 crore as of 31 March 2023 to Rs 1,438.36 crore as of 31 March 2024. Inventories rose to Rs 2,469.56 crore as of 31 March 2024 from Rs 1,743.37 crore as of 31 March 2023. Sundry debtors were higher at Rs 1,686.51 crore as of 31 March 2024 compared to Rs 989.02 crore as of 31 March 2023. Cash and bank balance declined from Rs 1,853.24 crore as of 31 March 2023 to Rs 296.84 crore as of 31 March 2024. Investments rose to Rs 862.01 crore as of 31 March 2024 from Rs 625.98 crore as of 31 March 2023 . PBDT rose 29.88% to Rs 1307.66 crore. Provision for depreciation rose 36.58% to Rs 357.24 crore. Fixed assets increased to Rs 4,663.24 crore as of 31 March 2024 from Rs 2,853.67 crore as of 31 March 2023. Intangible assets increased from Rs 38.14 crore to Rs 233.18 crore. Profit before tax grew 27.52% to Rs 950.42 crore. Share of profit/loss was 51.39% higher at Rs -6.29 crore. Provision for tax was expense of Rs 313.46 crore, compared to Rs 253.36 crore. Effective tax rate was 37.48% compared to 34.60%. Net profit attributable to owners of the company increased 16.13% to Rs 547.35 crore. Equity capital stood at Rs 25.37 crore as of 31 March 2024 to Rs 25.37 crore as of 31 March 2023. Per share face Value remained same at Rs 1.00. Promoters’ stake was 46.30% as of 31 March 2024 ,compared to 46.29% as of 31 March 2023 . Cash flow from operating activities increased to Rs 944.65 crore for year ended March 2024 from Rs 805.81 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 410.60 crore, compared to Rs 494.47 crore during the year ended March 2023. Other Highlights
In Q1 FY25,
Exports went down 4%, Indian formulations up 12% compared to Q1 FY24.
In Q1 FY25, total
formulations revenue increased 7% YoY and API revenue fell 2% on YoY basis.
| Ipca Laboratories : Consolidated Results | | | Quarter ended | Year ended |
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| Particulars | 202406 | 202306 | Var.(%) | 202403 | 202303 | Var.(%) |
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| Net Sales (including other operating income) | 2,092.63 | 1,585.21 | 32.01 | 7,705.04 | 6,244.32 | 23.39 | | OPM (%) | 18.77 | 19.41 | -64 bps | 17.15 | 14.84 | 230 bps | | OP | 392.72 | 307.62 | 27.66 | 1,321.16 | 926.77 | 42.56 | | Other Inc. | 20.61 | 44.85 | -54.05 | 124.77 | 125.62 | -0.68 | | PBIDT | 413.33 | 352.47 | 17.27 | 1,445.93 | 1,052.39 | 37.39 | | Interest | 24.05 | 31.38 | -23.36 | 138.27 | 45.54 | 203.62 | | PBDT | 389.28 | 321.09 | 21.24 | 1,307.66 | 1,006.85 | 29.88 | | Depreciation | 98.89 | 69.27 | 42.76 | 357.24 | 261.56 | 36.58 | | PBT | 290.39 | 251.82 | 15.32 | 950.42 | 745.29 | 27.52 | | Share of Profit/(Loss) from Associates | 0.16 | -2.11 | LP | -6.29 | -12.94 | 51.39 | | PBT before EO | 290.55 | 249.71 | 16.35 | 944.13 | 732.35 | 28.92 | | EO Income | 0 | 0 | - | -107.75 | 0 | - | | PBT after EO | 290.55 | 249.71 | 16.35 | 836.38 | 732.35 | 14.20 | | Taxation | 91.41 | 85.61 | 6.77 | 313.46 | 253.36 | 23.72 | | PAT | 199.14 | 164.1 | 21.35 | 522.92 | 478.99 | 9.17 | | Minority Interest (MI) | 6.9 | 1.28 | 439.06 | -24.43 | 7.67 | LP | | Net profit | 192.24 | 162.82 | 18.07 | 547.35 | 471.32 | 16.13 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 192.24 | 162.82 | 18.07 | 547.35 | 471.32 | 16.13 | | EPS (Rs)* | 7.58 | 6.42 | 18.07 | 24.36 | 18.58 | 31.15 | | | * EPS is on current equity of Rs 25.37 crore, Face value of Rs 1, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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| Ipca Laboratories : Consolidated Segment Results | | | Quarter ended | Year ended |
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| % of (Total) | 202406 | 202306 | Var.(%) | % of (Total) | 202403 | 202303 | Var.(%) |
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| Sales | | India | 48.10 | 1,006.47 | 890.61 | 13.01 | 46.91 | 3,614.27 | 3,265.45 | 10.68 | | Outside India | 51.90 | 1,086.16 | 694.60 | 56.37 | 53.09 | 4,090.77 | 2,978.87 | 37.33 | | Total Reported Sales | 100.00 | 2,092.63 | 1,585.21 | 32.01 | 100.00 | 7,705.04 | 6,244.32 | 23.39 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 2,092.63 | 1,585.21 | 32.01 | 100.00 | 7,705.04 | 6,244.32 | 23.39 | | PBIT | | India | 0.00 | 0.00 | 0.00 | - | | Outside India | 0.00 | 0.00 | 0.00 | - | | Total PBIT | 100.00 | 0.00 | 0.00 | - | 100.00 | 0.00 | 0.00 | - | | Less : Interest | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Add: Other un-allcoable | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | PBIT Margin(%) | | India | | 0.00 | 0.00 | 0.00 | | Outside India | | 0.00 | 0.00 | 0.00 | | PBT | 100.00 | 0.00 | 0.00 | - | 100.00 | 0.00 | 0.00 | - |
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