On consolidated basis
Quarter ended December 2024 compared with Quarter ended December 2023.
Net sales (including other operating income) of Biocon has declined 3.35% to Rs 3821.4 crore. Sales of Generics segment has gone down 2.42% to Rs 686.40 crore (accounting for 17.51% of total sales). Sales of Biosimilars segment has gone down 7.81% to Rs 2,289.00 crore (accounting for 58.41% of total sales). Sales of Research service segment has gone up 10.57% to Rs 943.70 crore (accounting for 24.08% of total sales). Inter-segment sales rose Rs 86.10 crore to Rs 97.70 crore. Profit before interest, tax and other unallocable items (PBIT) has slumped 79.32% to Rs 168.00 crore. PBIT of Generics reported loss of Rs 13.50 crore compared to profit of Rs 49.50 crore. PBIT of Biosimilars segment fell 99.64% to Rs 0.70 crore (accounting for 0.42% of total PBIT). PBIT of Research service segment rose 27.41% to Rs 180.80 crore (accounting for 107.62% of total PBIT). PBIT margin of Generics segment fell from 7.04% to 1.97%. PBIT margin of Biosimilars segment fell from 7.91% to 0.03%. PBIT margin of Research service segment rose from 16.63% to 19.16%. Overall PBIT margin fell from 20.11% to 4.29%. Operating profit margin has declined from 23.44% to 19.67%, leading to 18.88% decline in operating profit to Rs 751.80 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 33.73% to 33.67%. Purchase of finished goods cost rose from 0.80% to 2.23%. Employee cost increased from 17.34% to 20.53%. Other expenses fell from 25.84% to 24.01%. Preoperation capitalised expenses rose from 0.03% to 0.89%. Other income fell 93.85% to Rs 34.8 crore. PBIDT fell 47.29% to Rs 786.6 crore. Provision for interest fell 16.24% to Rs 223.4 crore. PBDT fell 54.05% to Rs 563.2 crore. Provision for depreciation rose 2.63% to Rs 425.4 crore. Profit before tax down 83.01% to Rs 137.80 crore. Share of profit/loss were nil in both the periods. Extraordinary items were decreased to Rs 18.10 crore. Provision for tax was expense of Rs 74.8 crore, compared to Rs 54.9 crore. Effective tax rate was 47.98% compared to 6.79%. Minority interest decreased 39.98% to Rs 56.00 crore. Net profit attributable to owners of the company decreased 96.20% to Rs 25.10 crore. Promoters’ stake was 60.64% as of 31 December 2024 ,compared to 60.64% as of 31 December 2023 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Biocon has increased 0.06% to Rs 10844.7 crore. Sales of Generics segment has gone down 5.29% to Rs 1,970.00 crore (accounting for 17.67% of total sales). Sales of Biosimilars segment has gone up 1.35% to Rs 6,554.00 crore (accounting for 58.79% of total sales). Sales of Research service segment has gone up 2.05% to Rs 2,624.40 crore (accounting for 23.54% of total sales). Inter-segment sales rose Rs 279.60 crore to Rs 303.70 crore. Profit before interest, tax and other unallocable items (PBIT) has jumped 11.57% to Rs 1,430.60 crore. PBIT of Generics reported loss of Rs 5.30 crore compared to profit of Rs 180.00 crore. PBIT of Biosimilars segment rose 409.72% to Rs 1,048.50 crore (accounting for 73.29% of total PBIT). PBIT of Research service segment fell 8.39% to Rs 387.40 crore (accounting for 27.08% of total PBIT). PBIT margin of Generics segment fell from 8.65% to 0.27%. PBIT margin of Biosimilars segment rose from 3.18% to 16.00%. PBIT margin of Research service segment fell from 16.44% to 14.76%. Overall PBIT margin rose from 11.53% to 12.83%. Operating profit margin has declined from 21.98% to 19.25%, leading to 12.37% decline in operating profit to Rs 2,088.10 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 31.13% to 29.21%. Purchase of finished goods cost fell from 5.91% to 5.02%. Employee cost increased from 16.65% to 21.55%. Other expenses fell from 25.68% to 24.93%. Preoperation capitalised expenses rose from 0.09% to 1.02%. Other income rose 43.38% to Rs 1171.3 crore. PBIDT rose 1.87% to Rs 3259.4 crore. Provision for interest fell 8.35% to Rs 685 crore. PBDT rose 4.98% to Rs 2574.4 crore. Provision for depreciation rose 7.65% to Rs 1250.7 crore. Profit before tax grew 2.57% to Rs 1,323.70 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 429.8 crore, compared to Rs 131.3 crore. Effective tax rate was 30.70% compared to 10.89%.Minority interest increased 60.30% to Rs 301.20 crore. Net profit attributable to owners of the company decreased 24.60% to Rs 668.80 crore. Promoters’ stake was 60.64% as of 31 December 2024 ,compared to 60.64% as of 31 December 2023 .
Full year results analysis.
Net sales (including other operating income) of Biocon has increased 32.05% to Rs 14755.7 crore. Sales of Generics segment has gone up 1.23% to Rs 2,798.50 crore (accounting for 18.52% of total sales). Sales of Biosimilars segment has gone up 58.03% to Rs 8,824.20 crore (accounting for 58.39% of total sales). Sales of Research service segment has gone up 9.26% to Rs 3,488.60 crore (accounting for 23.09% of total sales). Inter-segment sales came down from Rs 386.10 crore to Rs 355.60 crore. Profit before interest, tax and other unallocable items (PBIT) has jumped 26.21% to Rs 1,631.60 crore. PBIT of Generics segment fell 12.86% to Rs 230.40 crore (accounting for 14.12% of total PBIT). PBIT of Biosimilars segment fell 26.63% to Rs 295.70 crore (accounting for 18.12% of total PBIT). PBIT of Novel Biologics segment rose 1,389.31% to Rs 473.60 crore (accounting for 29.03% of total PBIT). PBIT of Research service segment rose 6.45% to Rs 631.90 crore (accounting for 38.73% of total PBIT). PBIT margin of Generics segment fell from 9.56% to 8.23%. PBIT margin of Biosimilars segment fell from 7.22% to 3.35%. PBIT margin of Research service segment fell from 18.59% to 18.11%. Overall PBIT margin fell from 11.18% to 10.80%. Operating profit margin has declined from 22.48% to 22.36%, leading to 31.33% rise in operating profit to Rs 3,298.70 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 28.17% to 32.49%. Purchase of finished goods cost fell from 5.53% to 4.37%. Employee cost decreased from 19.25% to 17.06%. Other expenses rose from 24.88% to 24.95%. Preoperation capitalised expenses fell from 3.46% to 0.54%. Other income rose 130.25% to Rs 865.5 crore. PBIDT rose 44.21% to Rs 4164.2 crore. Provision for interest rose 132.55% to Rs 974.4 crore. Loan funds declined from Rs 18,018.80 crore as of 31 March 2023 to Rs 16,276.70 crore as of 31 March 2024. Inventories rose to Rs 4,943.90 crore as of 31 March 2024 from Rs 4,243.70 crore as of 31 March 2023. Sundry debtors were higher at Rs 6,230.60 crore as of 31 March 2024 compared to Rs 3,573.20 crore as of 31 March 2023. Cash and bank balance declined from Rs 2,400.10 crore as of 31 March 2023 to Rs 2,258.70 crore as of 31 March 2024. Investments declined from Rs 2,068.80 crore as of 31 March 2023 to Rs 999.70 crore as of 31 March 2024. PBDT rose 29.21% to Rs 3189.8 crore. Provision for depreciation rose 40.94% to Rs 1568.8 crore. Fixed assets increased to Rs 22,264.50 crore as of 31 March 2024 from Rs 20,648.50 crore as of 31 March 2023. Intangible assets increased from Rs 16,136.20 crore to Rs 16,372.40 crore. Profit before tax grew 19.59% to Rs 1,621.00 crore. Share of profit/loss was 49.58% higher at Rs -84.2 crore. Extraordinary items were increased to Rs -11.60 crore. Provision for tax was expense of Rs 227.4 crore, compared to Rs 254.1 crore. Effective tax rate was 14.91% compared to 28.32%. Minority interest increased 52.69% to Rs 275.30 crore. Net profit attributable to owners of the company increased 120.99% to Rs 1,022.50 crore. Equity capital stood at Rs 600.30 crore as of 31 March 2024 to Rs 600.30 crore as of 31 March 2023. Per share face Value remained same at Rs 5.00. Promoters’ stake was 60.64% as of 31 March 2024 ,compared to 60.64% as of 31 March 2023 . Cash flow from operating activities increased to Rs 2,953.90 crore for year ended March 2024 from Rs 1,852.50 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 1,931.60 crore, compared to Rs 1,726.30 crore during the year ended March 2023. Other Highlights
The board approved the purchase of
1,97,99,305 equity shares of Biocon Biologics, a material subsidiary of the
Company, for a cost of Rs 550 crore. Following this purchase, Biocon’s stake in
BBL will be 90.2%.
| Biocon : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
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| Particulars | 202412 | 202312 | Var.(%) | 202412 | 202312 | Var.(%) | 202403 | 202303 | Var.(%) |
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| Net Sales (including other operating income) | 3,821.40 | 3,953.70 | -3.35 | 10,844.70 | 10,838.60 | 0.06 | 14,755.70 | 11,174.20 | 32.05 | | OPM (%) | 19.67 | 23.44 | -377 bps | 19.25 | 21.98 | -273 bps | 22.36 | 22.48 | -12 bps | | OP | 751.80 | 926.80 | -18.88 | 2,088.10 | 2,382.80 | -12.37 | 3,298.70 | 2,511.70 | 31.33 | | Other Inc. | 34.80 | 565.50 | -93.85 | 1,171.30 | 816.90 | 43.38 | 865.50 | 375.90 | 130.25 | | PBIDT | 786.60 | 1,492.30 | -47.29 | 3,259.40 | 3,199.70 | 1.87 | 4,164.20 | 2,887.60 | 44.21 | | Interest | 223.40 | 266.70 | -16.24 | 685.00 | 747.40 | -8.35 | 974.40 | 419.00 | 132.55 | | PBDT | 563.20 | 1,225.60 | -54.05 | 2,574.40 | 2,452.30 | 4.98 | 3,189.80 | 2,468.60 | 29.21 | | Depreciation | 425.4 | 414.5 | 2.63 | 1250.7 | 1161.8 | 7.65 | 1568.8 | 1113.1 | 40.94 | | PBT | 137.80 | 811.10 | -83.01 | 1323.7 | 1290.5 | 2.57 | 1621 | 1355.5 | 19.59 | | Share of Profit/(Loss) from Associates | 0 | -24.1 | - | 0 | -81.5 | - | -84.2 | -167 | 49.58 | | PBT before EO | 137.8 | 787 | -82.49 | 1323.7 | 1209 | 9.49 | 1536.8 | 1188.5 | 29.31 | | EO Income | 18.1 | 21.2 | -14.62 | 76.1 | -2.8 | LP | -11.6 | -291.4 | 96.02 | | PBT after EO | 155.9 | 808.2 | -80.71 | 1399.8 | 1206.2 | 16.05 | 1525.2 | 897.1 | 70.01 | | Taxation | 74.8 | 54.9 | 36.25 | 429.8 | 131.3 | 227.34 | 227.4 | 254.1 | -10.51 | | PAT | 81.1 | 753.3 | -89.23 | 970 | 1074.9 | -9.76 | 1297.8 | 643 | 101.84 | | Minority Interest (MI) | 56 | 93.3 | -39.98 | 301.2 | 187.9 | 60.30 | 275.3 | 180.3 | 52.69 | | Net profit | 25.1 | 660 | -96.20 | 668.8 | 887 | -24.60 | 1022.5 | 462.7 | 120.99 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 25.1 | 660 | -96.20 | 668.8 | 887 | -24.60 | 1022.5 | 462.7 | 120.99 | | EPS (Rs)* | 0.18 | 5.35 | -96.55 | 5.27 | 7.41 | -28.87 | 8.58 | 5.29 | 62.24 | | | * EPS is on current equity of Rs 600.30 crore, Face value of Rs 5, 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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| Biocon : Consolidated Segment Results | | | Quarter ended | Year to Date | Year ended |
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| % of (Total) | 202412 | 202312 | Var.(%) | % of (Total) | 202412 | 202312 | Var.(%) | % of (Total) | 202403 | 202303 | Var.(%) |
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| Sales | | Generics | 17.51 | 686.40 | 703.40 | -2.42 | 17.67 | 1,970.00 | 2,080.10 | -5.29 | 18.52 | 2,798.50 | 2,764.40 | 1.23 | | Biosimilars | 58.41 | 2,289.00 | 2,482.90 | -7.81 | 58.79 | 6,554.00 | 6,466.40 | 1.35 | 58.39 | 8,824.20 | 5,583.80 | 58.03 | | Novel Biologics | 0.00 | 0.00 | 0.00 | - | | Research service | 24.08 | 943.70 | 853.50 | 10.57 | 23.54 | 2,624.40 | 2,571.70 | 2.05 | 23.09 | 3,488.60 | 3,192.90 | 9.26 | | Total Reported Sales | 100.00 | 3,919.10 | 4,039.80 | -2.99 | 100.00 | 11,148.40 | 11,118.20 | 0.27 | 100.00 | 15,111.30 | 11,560.30 | 30.72 | | Less: Inter segment revenues | | 97.70 | 86.10 | 13.47 | | 303.70 | 279.60 | 8.62 | | 355.60 | 386.10 | -7.90 | | Net Sales | 100.00 | 3,821.40 | 3,953.70 | -3.35 | 100.00 | 10,844.70 | 10,838.60 | 0.06 | 100.00 | 14,755.70 | 11,174.20 | 32.05 | | PBIT | | Generics | -8.04 | -13.50 | 49.50 | PL | -0.37 | -5.30 | 180.00 | PL | 14.12 | 230.40 | 264.40 | -12.86 | | Biosimilars | 0.42 | 0.70 | 196.30 | -99.64 | 73.29 | 1,048.50 | 205.70 | 409.72 | 18.12 | 295.70 | 403.00 | -26.63 | | Novel Biologics | 0.00 | 0.00 | 424.70 | - | 29.03 | 473.60 | 31.80 | 1,389.31 | | Research service | 107.62 | 180.80 | 141.90 | 27.41 | 27.08 | 387.40 | 422.90 | -8.39 | 38.73 | 631.90 | 593.60 | 6.45 | | Total PBIT | 100.00 | 168.00 | 812.40 | -79.32 | 100.00 | 1,430.60 | 1,282.20 | 11.57 | 100.00 | 1,631.60 | 1,292.80 | 26.21 | | Less : Interest | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Add: Other un-allcoable | | -30.20 | -25.40 | -18.90 | | -106.90 | -73.20 | -46.04 | | -94.80 | -104.30 | 9.11 | | PBIT Margin(%) | | Generics | | -1.97 | 7.04 | -900.40 | | -0.27 | 8.65 | -892.25 | | 8.23 | 9.56 | -133.15 | | Biosimilars | | 0.03 | 7.91 | -787.55 | | 16.00 | 3.18 | 1,281.68 | | 3.35 | 7.22 | -386.63 | | Novel Biologics | | 0.00 | 0.00 | 0.00 | | 0.00 | 165.63 | -16,562.50 | | Research service | | 19.16 | 16.63 | 253.30 | | 14.76 | 16.44 | -168.29 | | 18.11 | 18.59 | -47.80 | | PBT | 100.00 | 137.80 | 787.00 | -82.49 | 100.00 | 1,323.70 | 1,209.00 | 9.49 | 100.00 | 1,536.80 | 1,188.50 | 29.31 |
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