Ipca Laboratories Financial Statements

Ipca Laboratories Annually Results

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Y/e 31 Mar Mar-2021 Mar-2020 Mar-2018 Mar-2017
Growth matrix (%)        
Revenue growth 16.80 40.70 4.04 10.10
Op profit growth 70.30 99.40 1.88 54.10
EBIT growth 83.20 143 9.93 92.60
Net profit growth 88 153 23.10 109
Profitability ratios (%)        
OPM 28.60 19.60 13.80 14.10
EBIT margin 25.90 16.50 9.58 9.07
Net profit margin 21.10 13.10 7.29 6.16
RoCE 29.20 19.30 9.05 8.49
RoNW 6.84 4.80 2.33 2.06
RoA 5.95 3.83 1.72 1.44
Per share ratios ()        
EPS 90 47.80 19 15.40
Dividend per share 8 5 1 1
Cash EPS 73.40 31.30 4.89 1.71
Book value per share 371 287 213 195
Valuation ratios        
P/E 21.20 29.10 34.50 40.40
P/CEPS 25.90 44.30 134 364
P/B 5.13 4.84 3.07 3.20
EV/EBIDTA 15 18.30 17.80 18.60
Payout (%)        
Dividend payout -- -- 5.27 6.49
Tax payout (17) (18) (18) (26)
Liquidity ratios        
Debtor days 57.70 59.20 61.30 54.70
Inventory days 98.70 87.10 98 99.40
Creditor days (57) (48) (50) (56)
Leverage ratios        
Interest coverage (155) (46) (13) (12)
Net debt / equity -- 0.09 0.18 0.28
Net debt / op. profit (0.10) 0.35 1.05 1.52
Cost breakup ()        
Material costs (32) (36) (34) (35)
Employee costs (19) (20) (22) (22)
Other costs (21) (25) (29) (29)
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Y/e 31 Mar( In .Cr) Mar-2021 Mar-2020 Mar-2018 Mar-2017
Revenue 5,395 4,619 3,284 3,156
yoy growth (%) 16.80 40.70 4.04 10.10
Raw materials (1,728) (1,644) (1,125) (1,110)
As % of sales 32 35.60 34.30 35.20
Employee costs (1,014) (921) (736) (696)
As % of sales 18.80 19.90 22.40 22.10
Other costs (1,109) (1,147) (968) (904)
As % of sales 20.60 24.80 29.50 28.60
Operating profit 1,544 907 455 446
OPM 28.60 19.60 13.80 14.10
Depreciation (209) (211) (178) (173)
Interest expense (9) (17) (24) (24)
Other income 62.80 67 37.60 12.80
Profit before tax 1,389 747 291 262
Taxes (240) (135) (51) (68)
Tax rate (17) (18) (18) (26)
Minorities and other (1.10) 2.76 -- --
Adj. profit 1,148 614 239 195
Exceptional items -- -- -- --
Net profit 1,140 606 239 195
yoy growth (%) 88 153 23.10 109
NPM 21.10 13.10 7.29 6.16
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2018 Mar-2017
Profit before tax 1,389 747 291 262
Depreciation (209) (211) (178) (173)
Tax paid (240) (135) (51) (68)
Working capital 1,337 835 248 (82)
Other operating items -- -- -- --
Operating cashflow 2,277 1,236 310 (60)
Capital expenditure 2,197 1,647 885 386
Free cash flow 4,474 2,883 1,195 326
Equity raised 4,563 4,225 3,965 4,183
Investments 464 275 77.90 127
Debt financing/disposal (59) 94.20 164 117
Dividends paid -- -- 12.60 12.60
Other items -- -- -- --
Net in cash 9,442 7,478 5,414 4,764
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2019 Mar-2018
Equity capital 25.40 37.20 25.30 25.20
Preference capital -- -- -- --
Reserves 4,676 3,590 3,097 2,663
Net worth 4,702 3,627 3,122 2,689
Minority interest
Debt 265 501 465 628
Deferred tax liabilities (net) 222 227 231 232
Total liabilities 5,204 4,369 3,834 3,549
Fixed assets 2,307 2,192 2,007 2,026
Intangible assets
Investments 505 310 120 86.90
Deferred tax asset (net) 90.40 87.50 85.30 74.50
Net working capital 1,936 1,599 1,339 1,211
Inventories 1,595 1,323 1,073 881
Inventory Days 108 105 -- 97.90
Sundry debtors 812 895 682 602
Debtor days 54.90 70.70 -- 66.90
Other current assets 482 357 385 369
Sundry creditors (629) (584) (474) (394)
Creditor days 42.50 46.10 -- 43.80
Other current liabilities (324) (393) (326) (247)
Cash 365 181 282 151
Total assets 5,204 4,369 3,834 3,549
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Particulars ( Rupees In Crores.) Mar-2021 Mar-2020 Mar-2019 Mar-2018 Mar-2017
Gross Sales 5,420 4,649 3,773 3,284 3,212
Excise Duty -- -- -- -- --
Net Sales 5,420 4,649 3,773 3,284 3,212
Other Operating Income -- -- -- -- --
Other Income 62.80 67 57.70 41.80 21
Total Income 5,483 4,716 3,831 3,325 3,233
Total Expenditure ** 3,883 3,750 3,083 2,833 2,774
PBIDT 1,599 966 748 492 459
Interest 9.04 16.50 18.90 24 24.10
PBDT 1,590 949 729 468 435
Depreciation 209 211 182 178 173
Minority Interest Before NP -- -- -- -- --
Tax 249 141 116 62.10 53.30
Deferred Tax (8.50) (5.80) (12) (11) 14.30
Reported Profit After Tax 1,141 604 442 239 195
Minority Interest After NP 1.13 (2.80) (2.60) -- --
Net Profit after Minority Interest 1,140 606 445 239 195
Extra-ordinary Items -- -- -- -- --
Adjusted Profit After Extra-ordinary item 1,140 606 445 239 195
EPS (Unit Curr.) 90.10 47.80 35 19 15.40
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) 400 250 150 50 --
Equity 25.40 25.30 25.30 25.20 25.20
Public Shareholding (Number) -- -- -- -- --
Public Shareholding (%) -- -- -- -- --
Pledged/Encumbered - No. of Shares -- -- -- -- --
Pledged/Encumbered - % in Total Promoters Holding -- -- -- -- --
Pledged/Encumbered - % in Total Equity -- -- -- -- --
Non Encumbered - No. of Shares -- -- -- -- --
Non Encumbered - % in Total Promoters Holding -- -- -- -- --
Non Encumbered - % in Total Equity -- -- -- -- --
PBIDTM(%) 29.50 20.80 19.80 15 14.30
PBDTM(%) 29.30 20.40 19.30 14.30 13.50
PATM(%) 21.10 13 11.70 7.29 6.06
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