IPCA Lab’s revenue in Q4FY18 grew by 17% yoy to Rs782.8cr. EBITDA in Q4FY18 grew by 55.2% to Rs108.9cr vs Rs70.8cr in Q4FY17. EBITDA margins in Q4FY18 stood at 14% vs 18.8% in Q3FY18 and 10.6% in Q4FY17. PAT grew by 15.6% to Rs51.3cr in Q4FY18.
Formulations revenue grew by 14.7% to Rs574cr in Q4FY18. Within formulations, the domestic business grew by 16.6% yoy and exports grew by 12.3% yoy.
In the export formulations, branded business declined by 8% yoy, while institutional and generics business grew by 44% yoy and 19% yoy respectively.
On a sequential basis, formulations business has declined by 12%.
API business grew by 24.9% yoy to Rs191.9cr. Domestic API business grew by 25.7% yoy, while exports grew by 24.8% yoy. On a sequential basis, API business is flat.
Gross margins are at 67.3% in Q4FY18 vs 65.8% in Q3FY18 and 65.3% in Q4FY17.
Profit before tax in Q4FY18 is up 179% to Rs71.7cr.
In Q4FY17, the company had deferred tax asset amounting to Rs23.7cr, while in Q4FY18, the company has deferred tax liability of Rs6cr. Due to this, PAT growth is 15.6% yoy in Q4FY18.
Ipca Laboratories Ltd is currently trading at Rs677.85, down by 0.55 points or 0.08% from its previous closing of Rs678.40 on the BSE. The scrip opened at Rs672 and has touched a high and low of Rs696.60 and Rs668.95 respectively. So far 6,79,615 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.
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