Ipca Laboratories Ltd's Q4FY18 standalone net profit rises 15.59% yoy to Rs51.31cr : Misses Estimates

The company’s standalone revenue stood at Rs782.75cr, up 17.02% yoy but down 8.9% qoq.

May 29, 2018 08:05 IST India Infoline Research Team

Ipca Laboratories Ltd Q4FY18

Standalone Results Q4FY18: (Rs. in cr)

Q4FY18 YoY (%)
Revenue 782.75 17.0
EBITDA 109.89 55.2
EBITDA Margin (%) 14 346
Net Profit (adjusted) 51.31 15.6
***EBITDA margin change is bps
View

Reduce

Reco. Price

700

Last updated on

17-May-2018



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.
Technical View:

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.

Related Story