Granules India Q4FY22 PAT down -12.99% at Rs111 crore on pricing pressure in the US and cost increase for KSM

22 May 2022 , 07:21 PM

Granules India Ltd reported 28.86% increase in revenues yoy for the Q4FY22 quarter on consolidated basis at Rs1,030 crore. On a sequential basis, revenues were up for the quarter by 3.33%.

Full year FY22 revenues were up 16.3% at Rs3,765 crore. For Q4FY22, top line growth was driven by higher selling price realizations in paracetamol and other new US launches.

There was all round growth in revenues across APIs, PFIs and FD. Share of PFIs and other molecules in the sales mix increased during the quarter.

R&D as share of sales is low at 3.3% but cash to cash cycle period has improved over last few quarters to 138 days.

The consolidated net profit for Q4FY22 was down -12.99% at Rs111 crore. The net profits was higher by 10.03% on a sequential basis.

Cost increase in KSM and solvents resulted in the fall in profits as did the pricing pressure in the US markets. For FY22 EBITDA margins have fallen from 26.4% to 19.3%. 

Net margins were 10.78% in Q4FY22 quarter compared to 15.96% in Q4FY21. NPM was higher compared to 10.12% in Q3FY22. Regulated markets now contribute 73% or revenues while share of finished dosages (FD) spiked from 40% to 52%.

Financial highlights for Mar-22 compared yoy and sequentially

	Granules India
Rs in Crore	Mar-22	Mar-21	YOY	Dec-21	QOQ
Total Income (Rs cr)	₹ 1,029.97	₹ 799.31	28.86%	₹ 996.77	3.33%
Net Profit (Rs cr)	₹ 111.00	₹ 127.57	-12.99%	₹ 100.88	10.03%
Diluted EPS (Rs)	₹ 4.46	₹ 5.13		₹ 4.05
Net Margins	10.78%	15.96%		10.12%