On consolidated basis

Quarter ended March 2025 compared with Quarter ended March 2024.

Net sales (including other operating income) of Torrent Pharmaceuticals has increased 7.80% to Rs 2959 crore.  Operating profit margin has jumped from 32.17% to 32.58%, leading to 9.17% rise in operating profit to Rs 964.00 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 14.69% to 13.20%.   Purchase of finished goods cost rose from 11.29% to 13.66%.   Employee cost increased from 17.41% to 18.42%.   Other expenses fell from 24.97% to 23.08%.   

PBIDT rose 3.50% to Rs 946 crore.  Provision for interest fell 30% to Rs 56 crore.  Loan funds declined from Rs 4,022.00 crore as of 31 March 2024 to Rs 3,202.00 crore as of 31 March 2025.  Inventories rose to Rs 2,541.00 crore as of 31 March 2025 from Rs 2,279.00 crore as of 31 March 2024.  Sundry debtors were higher at Rs 1,867.00 crore as of 31 March 2025 compared to Rs 1,844.00 crore as of 31 March 2024.  Cash and bank balance declined from Rs 839.00 crore as of 31 March 2024 to Rs 579.00 crore as of 31 March 2025.  Investments declined from Rs 173.00 crore as of 31 March 2024 to Rs 156.00 crore as of 31 March 2025.  

PBDT stood at Rs 890 crore compared to profit of Rs 890 crore.  Provision for depreciation fell 0.99% to Rs 201 crore.  Fixed assets declined from Rs 8,161.00 crore as of 31 March 2024 to Rs 8,085.00 crore as of 31 March 2025.  Intangible assets increased from Rs 338.00 crore to Rs 339.00 crore.  

Profit before tax grew 9.19% to Rs 689.00 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 167 crore, compared to Rs 182 crore.  Effective tax rate was 25.11% compared to 28.84%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company increased 10.91% to Rs 498.00 crore.  

Equity capital stood at Rs 169.00 crore as of 31 March 2025 to Rs 169.00 crore as of 31 March 2024.  Per share face Value remained same at Rs 5.00.  

Promoters' stake was 68.31% as of 31 March 2025 ,compared to 71.25% as of 31 March 2024 .  

Full year results analysis.

Net sales (including other operating income) of Torrent Pharmaceuticals has increased 7.35% to Rs 11516 crore.  Operating profit margin has jumped from 31.39% to 32.31%, leading to 10.48% rise in operating profit to Rs 3,721.00 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 15.23% to 12.89%.   Purchase of finished goods cost rose from 10.88% to 12.98%.   Employee cost increased from 18.23% to 18.68%.   Other expenses fell from 24.72% to 23.88%.   

Other income fell 60.34% to Rs 23 crore.  PBIDT rose 9.28% to Rs 3744 crore.  Provision for interest fell 28.81% to Rs 252 crore.  Loan funds declined from Rs 4,022.00 crore as of 31 March 2024 to Rs 3,202.00 crore as of 31 March 2025.  Inventories rose to Rs 2,541.00 crore as of 31 March 2025 from Rs 2,279.00 crore as of 31 March 2024.  Sundry debtors were higher at Rs 1,867.00 crore as of 31 March 2025 compared to Rs 1,844.00 crore as of 31 March 2024.  Cash and bank balance declined from Rs 839.00 crore as of 31 March 2024 to Rs 579.00 crore as of 31 March 2025.  Investments declined from Rs 173.00 crore as of 31 March 2024 to Rs 156.00 crore as of 31 March 2025.  

PBDT rose 13.67% to Rs 3492 crore.  Provision for depreciation fell 1.61% to Rs 795 crore.  Fixed assets declined from Rs 8,161.00 crore as of 31 March 2024 to Rs 8,085.00 crore as of 31 March 2025.  Intangible assets increased from Rs 338.00 crore to Rs 339.00 crore.  

Profit before tax grew 19.13% to Rs 2,697.00 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 762 crore, compared to Rs 696 crore.  Effective tax rate was 28.51% compared to 29.59%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company increased 15.40% to Rs 1,911.00 crore.  

Equity capital stood at Rs 169.00 crore as of 31 March 2025 to Rs 169.00 crore as of 31 March 2024.  Per share face Value remained same at Rs 5.00.  

Promoters' stake was 68.31% as of 31 March 2025 ,compared to 71.25% as of 31 March 2024 .  

Cash flow from operating activities decreased to Rs 2,585.00 crore for year ended March 2025 from Rs 3,266.00 crore for year ended March 2024.  Cash flow used in acquiring fixed assets during the year ended March 2025 stood at Rs 611.00 crore, compared to Rs 433.00 crore during the year ended March 2024.  

Other Highlights

The board recommended a final dividend of Rs 6 per equity share of Rs 5 each for FY25. The Company has fixed Friday, 20 June 2025 as the Record Date.

In Q4 FY25, India revenue grew 12% YoY led by outperformance in focus therapies. Brazil revenue went down 6%, US up 15% and Germany up 2% on YoY basis.

In FY25, India revenue grew by 13% YoY. Brazil revenue went down 2%, US up 2% and Germany up 6% on YoY basis.

R&D expense during the quarter was Rs 150 crore, representing 5.1% of sales.

Torrent Pharmaceuticals : Consolidated Results

Quarter ended Year ended Particulars 202503 202403 Var.(%) 202503 202403 Var.(%) Net Sales (including other operating income) 2,959.00 2,745.00 7.80 11,516.00 10,728.00 7.35 OPM (%) 32.58 32.17 41 bps 32.31 31.39 92 bps OP 964.00 883.00 9.17 3,721.00 3,368.00 10.48 Other Inc. -18.00 31.00 PL 23.00 58.00 -60.34 PBIDT 946.00 914.00 3.50 3,744.00 3,426.00 9.28 Interest 56.00 80.00 -30.00 252.00 354.00 -28.81 PBDT 890.00 834.00 6.71 3,492.00 3,072.00 13.67 Depreciation 201 203 -0.99 795 808 -1.61 PBT 689.00 631.00 9.19 2697 2264 19.13 Share of Profit/(Loss) from Associates 0 0 - 0 0 - PBT before EO 689 631 9.19 2697 2264 19.13 EO Income -24 0 - -24 88 PL PBT after EO 665 631 5.39 2673 2352 13.65 Taxation 167 182 -8.24 762 696 9.48 PAT 498 449 10.91 1911 1656 15.40 Minority Interest (MI) 0 0 - 0 0 - Net profit 498 449 10.91 1911 1656 15.40 P/(L) from discontinued operations net of tax 0 0 - 0 0 - Net profit after discontinued operations 498 449 10.91 1911 1656 15.40 EPS (Rs)* 15.25 13.27 14.92 56.97 47.10 20.96 * EPS is on current equity of Rs 169.22 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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