IPCA Laboratories Limited
RESULTS FOR Q1 FY 2013-14
Q/E JUNE 2013
IPCA LABORATORIES has performed well in the first quarter of FY
2013-14
HIGH LIGHTS
Ø Net Total Income at f 810.01 crores, up
by 26%
Ø Export Income at f 496.54 crores, up by
35%
Ø EBITDA at f 171.02 crores, up by 21%
Ø EBITDA margin @ 21.23% as against
22.24% in Q1FY13
Ø Net Profit at f 71.77 crores, up by 67%
Net Sales for Q1 FY 14 stands
at Rs.792.53 Cr; up by 20.33% over Q4 FY 13 (Rs.658.63 Cr) ; and up by 25.75%
over Q1 FY 13 (Rs.630.25% over Q1 FY 13 (Rs.Cr). The improvement in Sales is
impressive.
Total Income for Q1 FY 14
stands at Rs.805.56 Cr; up by 19.93 % over Q4 FY 13 (Rs.671.70 Cr) ; and up by 26.98%
over Q1 FY 13 (Rs.634.40 Cr).
Changes in inventories for Q1 FY 14 stands at Rs.27.39 Cr; up
by 226.69 % over Q4 FY 13 (Rs.-21.62 Cr)
; and up by 195.27% over Q1 FY 13
(Rs. -2875 Cr).
Cost of materials for Q1 FY 14 stands at Rs.276.2 Cr; up by 9.37% over Q4 FY 13 (Rs.252.53 Cr)
; and up by 10.24% over Q1 FY 13 (Rs.250.54 Cr).The cost of Materials has gone
up but less than proportionately, compared to Sales.
Purchases of
stock-in-trade for Q1 FY 14 stands at Rs.20.24Cr; down by -25.62 % over Q4 FY 13 (Rs.27.22 Cr) ; and down by -15.51% over Q1 FY 13 (Rs.23.96 Cr).
Employee benefits for Q1 FY 14 stands at Rs.114.35 Cr; up by 28.62 % over Q4 FY 13 (Rs.88.91Cr); and up by 24.8% over Q1 FY 13 (Rs.91.63
Cr).This has gone up more than proportionately, compared to Sales.
Depreciation for Q1 FY 14
stands at Rs.24.11Cr; up by 11.53% over Q4 FY 13 (Rs.21.62 Cr) ; and up by 21.04% over Q1 FY 13 (Rs.19.92 Cr).
Other expenses for Q1 FY 14
stands at Rs.244.31Cr; up by 39.94% over Q4 FY 13 (Rs.174.58 Cr) ; and up by 14.12%
over Q1 FY 13 (Rs.214.09 Cr).
Total expenses for Q1 FY
14 stands at Rs.706.61Cr; up by 30.07% over Q4 FY 13 (Rs.543.24 Cr) ; and up by
23.66% over Q1 FY 13 (Rs.571.39 Cr).
Profit before Interest,
Dep. & Taxes for Q1 FY 14 stands at Rs.85.92 Cr; down by -25.54
% over Q4 FY 13 (Rs.115.39 Cr) ; and up by 45.98% over Q1 FY 13(Rs.58.86 Cr).
Profit before tax for Q1 FY 14 stands at Rs.96.27Cr; down by -23.3%
over Q4 FY 13 (Rs.125.51 Cr); and up by 70.45% over Q1 FY 13 (Rs.56.48 Cr).
Tax Expenses for Q1 FY 14
stands at Rs.24.50 Cr; down by -51.08%
over Q4 FY 13 (Rs.50.08 Cr) ; and up by 81.48 % over Q1 FY 13 (Rs.13.50 Cr).
Net Profit for Q1 FY 14 stands
at Rs.71.77 Cr; down by -4.85 % over Q4 FY
13 (Rs.75.43 Cr) ; and up by 66.98 % over Q1 FY 13 (Rs.42.98 Cr). The YoY
increase in Profit is impressive.
Face Value of Share is Rs.2
and Paid-up Equity stands at Rs.25.24 Cr
Basic EPS for Q1 FY 14 stands at Rs.5.69 compared to Rs.5.98 in
previous qtr and Rs.3.41 in the corresponding Qtr of FY 13. The annualized EPS
will be Rs.22.76. Current Market Price is Rs.664.
This
gives a PE Ratio of 29.17
DIVIDEND DECLARED : Rs.2. on FV of
Rs.2.
Public holding in the company
stands at 54.11%.
Results table (In Lakhs of Rs)
|
IPCA LABS
|
30-Jun-13
|
%DIF QOQ
|
31-Mar-13
|
31-Dec-12
|
30-Sep-12
|
%DIF YoY
|
30-Jun-12
|
|
Net Sales
|
79252.79
|
20.33
|
65863.16
|
69241
|
75752
|
25.75
|
63025
|
|
Total Income
|
80556.24
|
19.93
|
67170.29
|
70102
|
77129
|
26.98
|
63440
|
|
Changes in inventories
|
2738.91
|
-226.69
|
-2161.94
|
-1628
|
688
|
-195.27
|
-2875
|
|
Cost of materials
|
27619.75
|
9.37
|
25253.25
|
26795
|
27373
|
10.24
|
25054
|
|
Purchases of stock-in-trade
|
2024.38
|
-25.62
|
2721.67
|
2449
|
3041
|
-15.51
|
2396
|
|
Employee benefits
|
11435.43
|
28.62
|
8891.16
|
9825
|
9778
|
24.8
|
9163
|
|
Depreciation
|
2411.14
|
11.53
|
2161.9
|
2158
|
2088
|
21.04
|
1992
|
|
Other expenses
|
24431
|
39.94
|
17457.98
|
16823
|
18368
|
14.12
|
21409
|
|
Total expenses
|
70660.61
|
30.07
|
54324.02
|
56422
|
61336
|
23.66
|
57139
|
|
Profit before Interest, Dep. & Taxes
|
8592.18
|
-25.54
|
11539.14
|
12819
|
14416
|
45.98
|
5886
|
|
Profit before tax
|
9626.77
|
-23.3
|
12550.56
|
11479
|
16459
|
70.45
|
5648
|
|
Tax Expenses
|
2450
|
-51.08
|
5008
|
2690
|
3950
|
81.48
|
1350
|
|
Net Profit
|
7176.77
|
-4.85
|
7542.56
|
8789
|
12509
|
66.98
|
4298
|
|
Face Value of Share (in )
|
2
|
0
|
2
|
2
|
2
|
0
|
2
|
|
Paid-up Equity
|
2523.98
|
0
|
2523.98
|
2523
|
2523
|
0.04
|
2523
|
|
Basic EPS
|
5.69
|
-4.85
|
5.98
|
6.97
|
9.92
|
66.86
|
3.41
|
|
Public holding (%)
|
54.11
|
0
|
54.11
|
54.09
|
54.09
|
0.04
|
54.09
|
*
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N D *
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