Ipca Lab’s revenue in Q2FY19 grew 15.4% yoy to Rs997.8cr. The performance was all around with domestic business growing 10% yoy and exports up 21.6% yoy in Q2FY19. EBITDA grew by 15.7% yoy to Rs172.8cr in Q2FY19 vs. Rs149.4cr in Q2FY18. EBITDA margins stood at 17.3% in Q2FY19 (unchanged yoy) vs. 13.4% in Q1FY19. PAT grew by 24.1% yoy to Rs119.7cr in Q2FY19 vs. Rs96.5cr in Q2FY18.
Gross margins witnessed strong recovery and improved by 112bps qoq and 272bps yoy to 68.6% in Q2FY19.
Domestic formulations revenue grew by 10.3% yoy to Rs468.6cr while domestic API revenue grew by 7.5% yoy to Rs51.4cr in Q2FY19.
Exports formulations grew by 23.2% yoy to Rs288.3cr in Q2FY19.
Exports API revenue grew by 19% yoy to Rs173.7cr in Q2FY19.
In Q2FY19, domestic business contributed 53% of revenue, while rest 47% was contributed by exports.
Ipca Laboratories Ltd is currently trading at Rs. 736.50, up by 12.7 points or 1.75% from its previous closing of Rs. 723.80 on the BSE.
The scrip opened at Rs. 723.60 and has touched a high and low of Rs. 737.90 and Rs. 709.30 respectively. So far 2,94,584 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 100 DMA.
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