For the quarter ending June 2021, consolidated net sales (including other operating income) of Ipca Laboratories has increased 2.05% to Rs 1565.79 crore compared to quarter ending june 2020.  

Operating profit margin has slumped from 38.34% to 26.60%, leading to 29.20% decline in operating profit to Rs 416.54 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 24.11% to 27.01%.   Purchase of finished goods cost rose from 4.40% to 6.32%.   Employee cost increased from 16.62% to 19.58%.   Other expenses rose from 16.73% to 19.87%.   

Other income rose 73.86% to Rs 21.02 crore.  Provision for interest fell 33.58% to Rs 1.82 crore.  

Provision for depreciation rose 9.48% to Rs 55.87 crore.  

Profit before tax shrink 30.51% to Rs 379.87 crore.  Share of profit/loss was 127.10% lower at Rs -2.43 crore.  Provision for tax was expense of Rs 70.77 crore, compared to Rs 99.89 crore.  Effective tax rate was 18.75% compared to 18.31%.

Net profit attributable to owners of the company decreased 31.26% to Rs 306.66 crore.  

Promoters' stake was 46.29% as of 30 June 2021 ,compared to 46.07% as of 30 June 2020 .  

Full year results analysis.

Net sales (including other operating income) of Ipca Laboratories has increased 16.59% to Rs 5419.99 crore.  

Operating profit margin has jumped from 19.50% to 28.49%, leading to 70.33% rise in operating profit to Rs 1,544.35 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 30.27% to 28.45%.   Purchase of finished goods cost fell from 7.46% to 5.81%.   Employee cost decreased from 19.09% to 18.05%.   Other expenses fell from 24.39% to 20.19%.   

Other income fell 6.21% to Rs 62.84 crore.  Provision for interest fell 45.21% to Rs 9.04 crore.  Loan funds declined from Rs 432.81 crore as of 31 March 2020 to Rs 198.79 crore as of 31 March 2021.  Inventories rose to Rs 1,594.81 crore as of 31 March 2021 from Rs 1,323.12 crore as of 31 March 2020.  Sundry debtors were lower at Rs 811.75 crore as of 31 March 2021 compared to Rs 895.20 crore as of 31 March 2020.  Cash and bank balance rose to Rs 365.07 crore as of 31 March 2021 from Rs 180.92 crore as of 31 March 2020.  Investments rose to Rs 505.26 crore as of 31 March 2021 from Rs 309.56 crore as of 31 March 2020 .  

Provision for depreciation fell 0.63% to Rs 209.17 crore.  Fixed assets increased to Rs 2,146.45 crore as of 31 March 2021 from Rs 2,129.57 crore as of 31 March 2020.  Intangible assets increased from Rs 62.44 crore to Rs 160.80 crore.  

Profit before tax grew 86.02% to Rs 1,388.98 crore.  Share of profit/loss was 1.41% higher at Rs -7.7 crore.  Provision for tax was expense of Rs 240.14 crore, compared to Rs 135.33 crore.  Effective tax rate was 17.39% compared to 18.32%.

Net profit attributable to owners of the company increased 88.02% to Rs 1,140.01 crore.  

Equity capital increased from Rs 25.27 crore as of 31 March 2020 to Rs 25.37 crore as of 31 March 2021.  Per share face Value remained same at Rs 2.00.  

Promoters' stake was 46.29% as of 31 March 2021 ,compared to 46.07% as of 31 March 2020 .  

Cash flow from operating activities increased to Rs 1,090.13 crore for year ended March 2021 from Rs 570.35 crore for year ended March 2020.  Cash flow used in acquiring fixed assets during the year ended March 2021 stood at Rs 361.55 crore, compared to Rs 306.28 crore during the year ended March 2020.  

Other Highlights

In Q1 FY22, Exports income stood at Rs. 766.27 crore against Rs 773.89 crore in Q1 FY21.

In Q1 FY22, domestic formulations sales rose 25%, export to institutions rose 31% and API exports rose 5% compared to Q1 FY21.

During the quarter, branded exports fell 19%, generics exports fell 10% and sales from domestic API formulations fell 56% on YoY basis.

Ipca Laboratories : Consolidated Results

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