Divi’s Laboratories Q4FY23 net profits down -64% yoy at Rs321 crore on lower sales and supply chain constraints

Divi’s Laboratories reported -22.54% lower sales revenues for the March 2023 quarter on consolidated basis at Rs1,951. Revenues were up 14.24% sequentially. The sharp fall in the sales revenues is most likely attributed to the near zero sales of the anti-COVID treatment drug manufactured by Divi’s Laboratories (Molnupiravir). It also saw pressure on pricing in its core business of APIs (active pharma ingredients) and nutraceuticals.

The sharp fall in operating profits by -61% was largely on account of a double whammy. The costs could not be absorbed properly due to sharply lower sales revenues in the quarter. At the same time, the company also saw pressure on profits from higher raw material costs created by supply chain constraints continuing in many cases. Even for the full year FY23, the total revenues at Rs8,112 crore were lower than Rs9,074 crore in FY22.

Financial highlights for Mar-23 compared yoy and sequentially

 Divi's Laboratories    

Rs in Crore

Mar-23

Mar-22

YOY

Dec-22

QOQ

Total Income (Rs cr)

₹ 1,951

₹ 2,518

-22.54%

₹ 1,708

14.24%

Operating Profit (Rs cr)

₹ 401

₹ 1,023

-60.86%

₹ 322

24.59%

Net Profit (Rs cr)

₹ 321

₹ 895

-64.12%

₹ 307

4.62%

 

 

 

 

 

 

Diluted EPS (Rs)

₹ 12.09

₹ 33.70

 

₹ 11.56

 

OPM

20.53%

40.64%

 

18.83%

 

Net Margins

16.45%

35.52%

 

17.97%

 

 

For the fourth quarter, Divi’s Laboratories saw operating margins contract from 40.64% to 20.53% yoy while the net profit margins also contracted from 35.52% to 16.45% yoy. The company has declared dividend of Rs30 per share on face value of Rs2 per share, translating into dividend of 1,500%. Net cash from operations were higher on working capital tweaks.

Top stories
Company

Delta Corp Q1 PAT Declines 68% YoY to Rs 22 crore in FY25

4 mins read . 13 Jul 2024 . 09:30 AM

Company

Zydus Life Gets USFDA Nod for Heart Failure Drug

3 mins read . 13 Jul 2024 . 09:23 AM

Company

RVNL Spurts 10% on Bagging Multiple Orders Worth Rs 390 Cr

4 mins read . 13 Jul 2024 . 09:18 AM

Related Blogs
blog-logo

Share Market

blog-logo

12 mins read . 12 Jul 2024

Ritesh Agarwal: The OYO Founder’s Success Story

  • 0 people read
blog-logo

Share Market

blog-logo

15 mins read . 08 Jul 2024

Best Oil & Gas Stocks in India

  • 0 people read
Kickstart your equities journey today You've got this
By submitting this I agree to the terms & conditions