On consolidated basis
Quarter ended September 2024 compared with Quarter ended September 2023.
Net sales (including other operating income) of Ipca Laboratories has increased 15.78% to Rs 2354.9 crore. Operating profit margin has jumped from 17.73% to 18.75%, leading to 22.44% rise in operating profit to Rs 441.48 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 28.87% to 25.18%. Purchase of finished goods cost fell from 6.83% to 6.58%. Employee cost increased from 20.19% to 21.80%. Other expenses rose from 27.02% to 27.57%. Other income fell 31.88% to Rs 26.26 crore. PBIDT rose 17.20% to Rs 467.74 crore. Provision for interest fell 48.87% to Rs 22.56 crore. Loan funds declined from Rs 1,987.46 crore as of 30 September 2023 to Rs 1,202.18 crore as of 30 September 2024. Inventories rose to Rs 2,518.21 crore as of 30 September 2024 from Rs 2,450.25 crore as of 30 September 2023. Sundry debtors were higher at Rs 1,813.59 crore as of 30 September 2024 compared to Rs 1,760.01 crore as of 30 September 2023. Cash and bank balance declined from Rs 498.77 crore as of 30 September 2023 to Rs 297.04 crore as of 30 September 2024. Investments rose to Rs 943.71 crore as of 30 September 2024 from Rs 760.03 crore as of 30 September 2023 . PBDT rose 25.41% to Rs 445.18 crore. Provision for depreciation rose 11.08% to Rs 100.35 crore. Fixed assets increased to Rs 4,917.23 crore as of 30 September 2024 from Rs 4,608.50 crore as of 30 September 2023. Intangible assets declined from Rs 246.57 crore to Rs 90.58 crore. Profit before tax grew 30.30% to Rs 344.83 crore. Provision for tax was expense of Rs 99.39 crore, compared to Rs 87.92 crore. Effective tax rate was 28.80% compared to 39.18%. Net profit attributable to owners of the company increased 58.20% to Rs 229.48 crore. Equity capital stood at Rs 25.37 crore as of 30 September 2024 to Rs 25.37 crore as of 30 September 2023. Per share face Value remained same at Rs 1.00. Promoters’ stake was 46.30% as of 30 September 2024 ,compared to 46.29% as of 30 September 2023 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Ipca Laboratories has increased 22.89% to Rs 4447.53 crore. Operating profit margin has jumped from 18.47% to 18.76%, leading to 24.81% rise in operating profit to Rs 834.20 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 27.90% to 25.48%. Purchase of finished goods cost fell from 7.10% to 6.12%. Employee cost increased from 20.99% to 22.41%. Other expenses rose from 26.11% to 27.26%. Other income fell 43.80% to Rs 46.87 crore. PBIDT rose 17.20% to Rs 881.07 crore. Provision for interest fell 38.26% to Rs 46.61 crore. Loan funds declined from Rs 1,987.46 crore as of 30 September 2023 to Rs 1,202.18 crore as of 30 September 2024. Inventories rose to Rs 2,518.21 crore as of 30 September 2024 from Rs 2,450.25 crore as of 30 September 2023. Sundry debtors were higher at Rs 1,813.59 crore as of 30 September 2024 compared to Rs 1,760.01 crore as of 30 September 2023. Cash and bank balance declined from Rs 498.77 crore as of 30 September 2023 to Rs 297.04 crore as of 30 September 2024. Investments rose to Rs 943.71 crore as of 30 September 2024 from Rs 760.03 crore as of 30 September 2023 . PBDT rose 23.39% to Rs 834.46 crore. Provision for depreciation rose 24.83% to Rs 199.24 crore. Fixed assets increased to Rs 4,917.23 crore as of 30 September 2024 from Rs 4,608.50 crore as of 30 September 2023. Intangible assets declined from Rs 246.57 crore to Rs 90.58 crore. Profit before tax grew 22.95% to Rs 635.22 crore. Provision for tax was expense of Rs 190.8 crore, compared to Rs 173.53 crore. Effective tax rate was 30.01% compared to 36.60%.Net profit attributable to owners of the company increased 36.98% to Rs 421.72 crore. Equity capital stood at Rs 25.37 crore as of 30 September 2024 to Rs 25.37 crore as of 30 September 2023. Per share face Value remained same at Rs 1.00. Promoters’ stake was 46.30% as of 30 September 2024 ,compared to 46.29% as of 30 September 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 4,805.84 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 90.58 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
The Board has declared an
interim dividend of Rs 21 per equity share of Re 1 each for the financial year
2024-25. The Record Date has been fixed as 25 November 2024.
In Q2 FY25, Exports
increased 6%, Indian formulations up 11% compared to Q2 FY24.
In H1 FY25, Exports
increased 1%, Indian formulations up 11% compared to H1 FY24.
In Q2 FY25, total
formulations revenue increased 13% YoY and API revenue fell 5% on YoY basis.
In H1 FY25, total
formulations revenue increased 10% YoY and API revenue fell 4% on YoY basis.
| Ipca Laboratories : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202409 | 202309 | Var.(%) | 202409 | 202309 | Var.(%) | 202403 | 202303 | Var.(%) |
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| Net Sales (including other operating income) | 2,354.90 | 2,033.96 | 15.78 | 4,447.53 | 3,619.17 | 22.89 | 7,705.04 | 6,244.32 | 23.39 | | OPM (%) | 18.75 | 17.73 | 102 bps | 18.76 | 18.47 | 29 bps | 17.15 | 14.84 | 230 bps | | OP | 441.48 | 360.56 | 22.44 | 834.20 | 668.38 | 24.81 | 1,321.16 | 926.77 | 42.56 | | Other Inc. | 26.26 | 38.55 | -31.88 | 46.87 | 83.40 | -43.80 | 124.77 | 125.62 | -0.68 | | PBIDT | 467.74 | 399.11 | 17.20 | 881.07 | 751.78 | 17.20 | 1,445.93 | 1,052.39 | 37.39 | | Interest | 22.56 | 44.12 | -48.87 | 46.61 | 75.50 | -38.26 | 138.27 | 45.54 | 203.62 | | PBDT | 445.18 | 354.99 | 25.41 | 834.46 | 676.28 | 23.39 | 1,307.66 | 1,006.85 | 29.88 | | Depreciation | 100.35 | 90.34 | 11.08 | 199.24 | 159.61 | 24.83 | 357.24 | 261.56 | 36.58 | | PBT | 344.83 | 264.65 | 30.30 | 635.22 | 516.67 | 22.95 | 950.42 | 745.29 | 27.52 | | Share of Profit/(Loss) from Associates | 0.31 | -0.95 | LP | 0.47 | -3.06 | LP | -6.29 | -12.94 | 51.39 | | PBT before EO | 345.14 | 263.7 | 30.88 | 635.69 | 513.61 | 23.77 | 944.13 | 732.35 | 28.92 | | EO Income | 0 | -39.29 | - | 0 | -39.49 | - | -107.75 | 0 | - | | PBT after EO | 345.14 | 224.41 | 53.80 | 635.69 | 474.12 | 34.08 | 836.38 | 732.35 | 14.20 | | Taxation | 99.39 | 87.92 | 13.05 | 190.8 | 173.53 | 9.95 | 313.46 | 253.36 | 23.72 | | PAT | 245.75 | 136.49 | 80.05 | 444.89 | 300.59 | 48.01 | 522.92 | 478.99 | 9.17 | | Minority Interest (MI) | 16.27 | -8.57 | PL | 23.17 | -7.29 | PL | -24.43 | 7.67 | LP | | Net profit | 229.48 | 145.06 | 58.20 | 421.72 | 307.88 | 36.98 | 547.35 | 471.32 | 16.13 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 229.48 | 145.06 | 58.20 | 421.72 | 307.88 | 36.98 | 547.35 | 471.32 | 16.13 | | EPS (Rs)* | 9.05 | 6.72 | 34.58 | 16.62 | 13.15 | 26.41 | 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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