CIPLA LTD
FIRST QUARTER RESULTS
Q1 FY 2012-13
CIPLA
LIMITED has released its results
for the first quarter ending June, 2012.
1 Net Sales for Q1 FY 13 stands at Rs.1917.38 Cr; up by 5.7%
from Q4.FY 12 (Rs.1814.05 Cr); and up by 23.68% from Q1 FY 12 (Rs.1550.33 Cr) ;
and up proportionately (i.e., Q1 FY 13 x 4 vs FY 12) from FY 12 Total by 12.66% (Rs.6807.68 Cr).
Other Operating
Income for Q1 FY 13 stands at Rs.40.81 Cr; down by -20.79% from Q4.FY 12 (Rs.51.52 Cr); and up
by 25.88% from Q1 FY 12 (Rs.32.42 Cr) ;
and up proportionately (i.e., Q1 FY 13 x 4 vs FY 12) from FY 12 Total by -3.87% (Rs.169.82 Cr).
Total income
from operations (net) for Q1
FY 13 stands at Rs.1958.19 Cr; up by 4.96% from Q4.FY 12 (Rs.1865.57 Cr); and up by 23.72% from
Q1 FY 12 (Rs.1582.75 Cr) ; and up proportionately (i.e., Q1 FY 13 x 4 vs FY 12)
from FY 12 Total by 12.26% (Rs.6977.5
Cr).
2 Expenses
Cost of
materials consumed for Q1
FY 13 stands at Rs.550.7 Cr; down by -11.63% from Q4.FY 12 (Rs.623.15 Cr); and
up by 1.79% from Q1 FY 12 (Rs.541.04 Cr) ; and down proportionately (i.e., Q1
FY 13 x 4 vs FY 12) from FY 12 Total by -4.26%
(Rs.2300.85 Cr).
Purchases of
stock-in-trade for Q1 FY
13 stands at Rs.151.85 Cr; up by 29.31% from Q4.FY 12 (Rs.117.43 Cr); and up by
2.32% from Q1 FY 12 (Rs.148.41 Cr) ; and up proportionately (i.e., Q1 FY 13 x 4
vs FY 12) from FY 12 Total by 9.33% (Rs.555.55 Cr).
Employee
benefits for Q1 FY 13 stands
at Rs.213 Cr; up by 17.02 % from Q4.FY 12
(Rs.182.02 Cr); and up by 24.39% from Q1 FY 12 (Rs.171.23 Cr) ; and up
proportionately (i.e., Q1 FY 13 x 4 vs FY 12) from FY 12 Total by 17% (Rs.728.21Cr).
Depreciation for
Q1 FY 13 stands at Rs.72.82 Cr; up by 3.35% from Q4.FY 12 (Rs.70.46 Cr); and up
by 3.66% from Q1 FY 12 (Rs.70.25 Cr) ; and up proportionately (i.e., Q1 FY 13 x
4 vs FY 12) from FY 12 Total by 3.27%
(Rs. 282.07 Cr).
Other expenses for
Q1 FY 13 stands at Rs.472.92 Cr; down by -7.69% from Q4.FY 12 (Rs.512.29 Cr);
and up by 23.67% from Q1 FY 12 (Rs.382.42 Cr) ; and up proportionately (i.e.,
Q1 FY 13 x 4 vs FY 12) from FY 12 Total by 5.11% (Rs.1799.79Cr).
Total
expenses for Q1 FY 13 stands at Rs.1491.16 Cr; down by -3% from Q4.FY 12 (Rs.1537.25 Cr); and up by 15.4%
from Q1 FY 12 (Rs.1292.13 Cr) ; and up proportionately (i.e., Q1 FY 13 x 4 vs
FY 12) from FY 12 Total by 5.05%
(Rs.5677.71Cr).
3 Profit from
operations for Q1 FY 13
stands at Rs.467.03 Cr; up by 42.25% from
Q4.FY 12 (Rs.328.32 Cr); and up by 60.7% from Q1 FY 12 (Rs.290.62 Cr) ; and up
proportionately (i.e., Q1 FY 13 x 4 vs FY 12) from FY 12 Total by 43.72% (Rs.1299.79
Cr).
4 Other Income for
Q1 FY 13 stands at Rs.53.06 Cr; up by36.23% from Q4.FY 12 (Rs.38.95 Cr); and up
by 28.69% from Q1 FY 12 (Rs.41.23 Cr) ; and up proportionately (i.e., Q1 FY 13
x 4 vs FY 12) from FY 12 Total by 43.12 % (Rs.148.3 Cr).
5 Profit before
finance costs (3+4) for Q1 FY 13 stands at Rs.520.09 Cr; up by
41.61% from Q4.FY 12 (Rs.367.27 Cr); and up by 56.72% from Q1 FY 12 (Rs.331.85 Cr)
; and up proportionately (i.e., Q1 FY 13 x 4 vs FY 12) from FY 12 Total by 43.66%
(Rs.1448.09 Cr).
6 Finance costs for Q1 FY 13 stands at Rs.1.09 Cr; down by -51.56%
from Q4.FY 12 (Rs.2.25 Cr); and down by -90.89%
from Q1 FY 12 (Rs.11.96 Cr) ; and down proportionately (i.e., Q1 FY 13 x 4 vs
FY 12) from FY 12 Total by -83.63% (Rs.26.63 Cr).
7 Profit before
tax (5-6) for Q1 FY 13 stands
at Rs.519 Cr; up by 42.18% from Q4.FY 12 (Rs.365.02 Cr); and up by 62.24% from Q1 FY 12 (Rs.319.89 Cr) ; and
up proportionately (i.e., Q1 FY 13 x 4 vs FY 12) from FY 12 Total by 46.05%
(Rs.1421.46 Cr).
8 *Tax expense for Q1 FY 13 stands at Rs.118.24 Cr; up by 61.35%
from Q4.FY 12 (Rs.73.28 Cr); and up by 77.67% from Q1 FY 12 (Rs.66.55 Cr) ; and
up proportionately (i.e., Q1 FY 13 x 4 vs FY 12) from FY 12 Total by 58.98% (Rs.297.5 Cr).
9 Net Profit after tax (7-8) for Q1 FY 13
stands at Rs.400.76 Cr; up by 37.37% from Q4.FY 12 (Rs.291.74 Cr); and up by 58.19%
from Q1 FY 12 (Rs.253.34 Cr) ; and up proportionately (i.e., Q1 FY 13 x 4 vs FY
12) from FY 12 Total by 42.62% (Rs.1123.96 Cr).
10 Paid-up equity
share capital (FV Rs.2/share) for Q1 FY 13 stands at Rs.160.58Cr.
12 Basic and
Diluted EPS (Rs.) for Q1 FY 13 stands at Rs.4.99; Rs.3.63 for
Q4 FY 12; Rs.3.16 for Q1 FY 12; and Rs.14 for the whole of FY 12.
% of Public
holding in the company is 62.97%.
OTHER
DETAILS
Income from operations crossed Rs. 2000 cr for the
quarter and posted a growth of about 24%. Domestic sales grew by more than 30%
and export sales grew by about 18%. Operating margins and profits after tax
have increased by more than 47% and 58% respectively.
% of exports to total sales Was 50.2% in Q1 FY 13
compared to 52.7% in Q1 FY 12. But, in absolute terms, exports have grown by
18%.
Material cost has decreased by 5% mainly on account of
changes in product mix viz. lower proportion of anti-retrovirals and higher
contribution of anti-depressant segment (Escitalopram) coupled with increased
realizations. As a result, operating margins have also increased by about 5%.
The increase in staff cost (Rs. 42 cr) is due to annual
increments and increase in manpower. Other expenditure has increased by Rs. 91
cr for the quarter on account of increase in marketing expenses, professional
fees, travel expenditure, etc. Tax for the current quarter has marginally
increased due to higher profits.
COMMENTS : Overall, CIPLA
has done very well both on Sales front and on Profitability.
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