Pfizer

On standalone basis

Quarter ended September 2024 compared with Quarter ended September 2023.

Net sales (including other operating income) of Pfizer has increased 2.33% to Rs 588.59 crore.  Operating profit margin has jumped from 31.75% to 32.15%, leading to 3.64% rise in operating profit to Rs 189.25 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 15.71% to 14.32%.   Purchase of finished goods cost rose from 14.84% to 15.07%.   Employee cost increased from 16.84% to 18.83%.   Other expenses fell from 18.38% to 16.42%.   

Other income up 19.41% to Rs 43.07 crore.  PBIDT rose 6.24% to Rs 232.32 crore.  Provision for interest fell 23.08% to Rs 2.1 crore.  Loan funds declined from Rs 42.63 crore as of 30 September 2023 to Rs 36.94 crore as of 30 September 2024.  Inventories rose to Rs 454.82 crore as of 30 September 2024 from Rs 399.08 crore as of 30 September 2023.  Sundry debtors were higher at Rs 227.51 crore as of 30 September 2024 compared to Rs 173.51 crore as of 30 September 2023.  Cash and bank balance rose to Rs 2,281.32 crore as of 30 September 2024 from Rs 1,892.16 crore as of 30 September 2023.  

PBDT rose 6.61% to Rs 230.22 crore.  Provision for depreciation down 2.85% to Rs 14.99 crore.  Fixed assets declined from Rs 173.30 crore as of 30 September 2023 to Rs 135.27 crore as of 30 September 2024.  Intangible assets declined from Rs 566.75 crore to Rs 556.78 crore.  

Profit before tax grew 7.34% to Rs 215.23 crore.  Provision for tax was expense of Rs 56.88 crore, compared to Rs 51.56 crore.  Effective tax rate was 26.43% compared to 25.71%.

Profit after tax rose 6.30% to Rs 158.35 crore.  

Equity capital stood at Rs 45.75 crore as of 30 September 2024 to Rs 45.75 crore as of 30 September 2023.  Per share face Value remained same at Rs 10.00.  

Promoters' stake was 63.92% as of 30 September 2024 ,compared to 63.92% as of 30 September 2023 .  

For year-to-date (YTD) results analysis

Net sales (including other operating income) of Pfizer has increased 4.06% to Rs 1,151.45 crore.  

Operating profit margin has jumped from 26.51% to 31.85%, leading to 25.03% rise in operating profit to Rs 366.74 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 15.70% to 11.76%.   Purchase of finished goods cost rose from 20.89% to 23.47%.   Employee cost decreased from 16.95% to 16.81%.   Other expenses fell from 19.34% to 15.85%.   

Other income up 22.12% to Rs 84.91 crore.  PBIDT rose 24.47% to Rs 451.65 crore.  Provision for interest fell 24.82% to Rs 4.21 crore.  Loan funds declined from Rs 42.63 crore as of 30 September 2023 to Rs 36.94 crore as of 30 September 2024.  Inventories rose to Rs 454.82 crore as of 30 September 2024 from Rs 399.08 crore as of 30 September 2023.  Sundry debtors were higher at Rs 227.51 crore as of 30 September 2024 compared to Rs 173.51 crore as of 30 September 2023.  Cash and bank balance rose to Rs 2,281.32 crore as of 30 September 2024 from Rs 1,892.16 crore as of 30 September 2023.  

PBDT rose 25.25% to Rs 447.44 crore.  Provision for depreciation down 4.49% to Rs 29.59 crore.  Fixed assets declined from Rs 173.30 crore as of 30 September 2023 to Rs 135.27 crore as of 30 September 2024.  Intangible assets declined from Rs 566.75 crore to Rs 556.78 crore.  Profit before tax grew 28.07% to Rs 417.85 crore.  Provision for tax was expense of Rs 108.79 crore, compared to Rs 83.78 crore.  Effective tax rate was 26.04% compared to 25.68%.Profit after tax rose 27.45% to Rs 309.06 crore.  

Equity capital stood at Rs 45.75 crore as of 30 September 2024 to Rs 45.75 crore as of 30 September 2023.  Per share face Value remained same at Rs 10.00.  

Promoters' stake was 63.92% as of 30 September 2024 ,compared to 63.92% as of 30 September 2023 .  

Cash flow from operating activities increased to Rs 349.43 crore for YTD ended September 2024 from Rs 189.75 crore for YTD ended September 2023.  Cash flow used in acquiring fixed assets during the YTD ended September 2024 stood at Rs 9.06 crore, compared to Rs 12.82 crore during the YTD ended September 2023.  

Full year results analysis

Net sales (including other operating income) of Pfizer has declined 9.55% to Rs 2,193.17 crore.  Operating profit margin has declined from 33.36% to 28.97%, leading to 21.46% decline in operating profit to Rs 635.30 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 14.58% to 15.23%.   Purchase of finished goods cost rose from 19.93% to 21.25%.   Employee cost increased from 14.01% to 15.77%.   Other expenses rose from 17.34% to 18.93%.   

Other income up 78.63% to Rs 180.51 crore.  PBIDT fell 10.34% to Rs 815.81 crore.  Provision for interest up 15.09% to Rs 15.41 crore.  Loan funds declined from Rs 41.15 crore as of 31 March 2023 to Rs 40.19 crore as of 31 March 2024.  Inventories rose to Rs 433.69 crore as of 31 March 2024 from Rs 417.70 crore as of 31 March 2023.  Sundry debtors were higher at Rs 187.61 crore as of 31 March 2024 compared to Rs 151.73 crore as of 31 March 2023.  Cash and bank balance rose to Rs 2,046.71 crore as of 31 March 2024 from Rs 1,859.52 crore as of 31 March 2023.  

PBDT fell 10.72% to Rs 800.4 crore.  Provision for depreciation down 40.97% to Rs 62.28 crore.  Fixed assets declined from Rs 185.46 crore as of 31 March 2023 to Rs 151.35 crore as of 31 March 2024.  Intangible assets declined from Rs 571.72 crore to Rs 561.76 crore.  

Profit before tax down 6.69% to Rs 738.12 crore.  Extraordinary items were decreased to Rs 7.95 crore.  Provision for tax was expense of Rs 194.74 crore, compared to Rs 200.08 crore.  Effective tax rate was 26.10% compared to 24.28%.

Profit after tax fell 11.64% to Rs 551.33 crore.  

Equity capital stood at Rs 45.75 crore as of 30 September 2024 to Rs 45.75 crore as of 30 September 2023.  Per share face Value remained same at Rs 10.00.  

Promoters' stake was 63.92% as of 31 March 2024 ,compared to 63.92% as of 31 March 2023 .  

Cash flow from operating activities decreased to Rs 256.84 crore for year ended March 2024 from Rs 355.68 crore for year ended March 2023.  Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 18.93 crore, compared to Rs 64.98 crore during the year ended March 2023.  

Pfizer : Standalone Results

Quarter ended Year to Date Year ended Particulars 202409 202309 Var.(%) 202409 202309 Var.(%) 202403 202303 Var.(%) Net Sales (including other operating income) 588.59 575.21 2.33 1,151.45 1,106.57 4.06 2,193.17 2,424.76 -9.55 OPM (%) 32.15 31.75 41 bps 31.85 26.51 534 bps 28.97 33.36 -439 bps OP 189.25 182.61 3.64 366.74 293.32 25.03 635.30 808.86 -21.46 Other Inc. 43.07 36.07 19.41 84.91 69.53 22.12 180.51 101.05 78.63 PBIDT 232.32 218.68 6.24 451.65 362.85 24.47 815.81 909.91 -10.34 Interest 2.1 2.73 -23.08 4.21 5.6 -24.82 15.41 13.39 15.09 PBDT 230.22 215.95 6.61 447.44 357.25 25.25 800.40 896.52 -10.72 Depreciation 14.99 15.43 -2.85 29.59 30.98 -4.49 62.28 105.51 -40.97 PBT 215.23 200.52 7.34 417.85 326.27 28.07 738.12 791.01 -6.69 PBT before EO 215.23 200.52 7.34 417.85 326.27 28.07 738.12 791.01 -6.69 EO Income 0 0 - 0 0 - 7.95 33 -75.91 PBT after EO 215.23 200.52 7.34 417.85 326.27 28.07 746.07 824.01 -9.46 Taxation 56.88 51.56 10.32 108.79 83.78 29.85 194.74 200.08 -2.67 PAT 158.35 148.96 6.30 309.06 242.49 27.45 551.33 623.93 -11.64 P/(L) from discontinued operations net of tax 0 0 - 0 0 - 0 0 - Net profit after discontinued operations 158.35 148.96 6.30 309.06 242.49 27.45 551.33 623.93 -11.64 EPS (Rs)* 34.61 32.56 6.30 67.56 53.01 27.45 119.23 130.92 -8.93 * EPS is on current equity of Rs 45.75 crore, Face value of Rs 10, Excluding extraordinary items. # EPS is not annualised bps : Basis points EO : Extraordinary items Figures in Rs crore Source: Capitaline Corporate Database