IPCA LABORATORIES - Q1 FY 21 RESULTS - REVIEW

 

IPCA LABORATORIES

Q1 FY 21 RESULTS REVIEW

 

About Ipca Laboratories:

Ipca is a fully integrated pharmaceutical company with a strong thrust on exports.

Ipca is vertically integrated and produces Finished Dosage Forms(FDFs) and Active Pharmaceutical Ingredients(APls).

Management                   

Premchand Godha              Chairman & M.D & CEO            

Ajit Kumar Jain           Joint Managing Director & CFO        

Key Financials of Ql FY21

•   Standalone Net Total Income up 45% at Rs.1496.93crores.

•   Consolidated Net Total Income up 41% at Rs.1546.49 crores.

•   Indian formulations income up 8% at Rs.489.41 crores.

•   Exports Income up 62% at Rs.773.89 crores.

•   Standalone EBIDTA margin (before forex(gain)/Ioss) @39.65% in Q1 FY21 as against @19.91% in Q1 FY20.

•   Consolidated EBIDTA margin @ 38.44% in Q1 FY21 as against @ 19.11% in Q1 FY20.

•   Standalone Net Profit up 244% at Rs.453.64 cr.

•  Consolidated Net Profit up 244% at Rs.445.68 cr

Q1 FY21 Revenue break-up (Rs. Cr)

Particulars     Q1 FY21        Q1 FY20        Growth

Formulations

Domestic       489.41          452.81          8%

Exports

Branded        133.52          91.63            46%

Institutional         88.67     27.32            225%

Generics              241.45   125.87          92%

Total Formulations 953.05 697.63   37%

APls

Domestic             203.04          65.70     209%

Exports                310.25          232.63   33%

Total      APls       513.29          298.33   72%

Subsidiaries         49.02            67.18     -27%

Other Operating Income 19.04 15.05      27%

Other Income             12.09     20.34     -41%

Consolidated Net Total Income 1546.49 1098.53 41%

 

Ipca Laboratories (in Rs. Cr.)	Jun '20	Mar '20	Jun '19	YOY	QOQ
Net Sales	1,534	1,074	1,078	42	43
P B T	546.64	114.58	168.37	225	377
Tax	99.89	29.2	37.35	167	242
Net Profit	446.75	85.38	131.02	241	423
Minority Interest	0.45	2.96	0.2	125	-84.8
Share Of P/L Of Associates	-1.07	-2.33	-1.59	-32.7	-54.08
FINAL NPT	446.13	86.01	129.63	244	419
	25.27	25.27	25.27	0	0
Basic EPS	35.27	6.57	10.24	244	437
MP	2005
PE	14.22
VOLUMES	209000
52 Wk L/H	844.2	2175

 

Annual	Mar-20	Mar-19	Mar-18	Mar-17	Mar-16
Sales	4,649	3,773	3,258	3,156	2,867
Net Profit	611.37	444.03	243.65	202.8	96.2

 

Historical Prices
	3M BEF	Current Price	%Gain / Loss
Open Price	1596	2032.25	27.33
	1YR BEF
Open Price	969	2032.25	109.73
	2YR BEF
Open Price	725.8	2032.25	180
	3YR BEF
Open Price	414	2032.25	390.88

 

Share Holding Pattern in (%)
Standalone	Jun-20	Mar-20	Sep-19	Jun-19
Promoters	46.07	46.07	46.07	46.07
Pledged	0	0	0	0
FII/FPI	12.39	12.64	16.14	15.58
Total DII	31	30.62	26.89	27.64
Fin.Insts	0.03	0.04	0.04	0.03
Insurance Co	4.23	2.22	0.78	0
MF	22.82	23.14	21.52	22.25
Others DIIs	3.92	5.22	4.55	5.36
Others	10.54	10.66	10.9	10.7
Total	100	99.99	100	99.99