ALEMBIC PHARMA Announces Quarterly Results (3QFY21); Net Profit Up 13.8%

Tue, 19 Jan

ALEMBIC PHARMA has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

ALEMBIC PHARMA Quarterly Financials

No. of Mths Qtr. Ending		3 Dec-19*	3 Sep-20*	3 Dec-20*	QoQ Change	YoY Change
Net Sales	Rs m	12,091	14,571	13,143	-9.8%	8.7%
Other income	Rs m	4	32	25	-21.3%	518.3%
Turnover	Rs m	12,095	14,603	13,169	-9.8%	8.9%
Expenses	Rs m	8,841	10,137	9,492	-6.4%	7.4%
Gross profit	Rs m	3,251	4,434	3,651	-17.7%	12.3%
Depreciation	Rs m	418	438	470	7.3%	12.3%
Interest	Rs m	74	45	23	-48.4%	-68.6%
Profit before tax	Rs m	2,763	3,984	3,183	-20.1%	15.2%
Tax	Rs m	486	730	591	-19.0%	21.7%
Profit after tax	Rs m	2,277	3,254	2,592	-20.3%	13.8%
Gross profit margin	%	26.9	30.4	27.8
Effective tax rate	%	17.6	18.3	18.6
Net profit margin	%	18.8	22.3	19.7

Year-on-Year Performance:

• The company's operating income during the quarter grew 8.7% on a year-on-year (YoY) basis. The expenses were up by 7.4% YoY during the same period.
• The company's operating profit increased by 12.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 27.8% in 3QFY21 as against 26.9% in 3QFY20.
• Depreciation charges increased by 12.3% and finance costs declined by 68.6% YoY, respectively.
• Other income increased by 518.3% YoY during the quarter.
• Net profit for the quarter increased by 13.8% YoY. Net profit margins during the quarter increased from 18.8% in 3QFY20 to 19.7% in 3QFY21.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter fell 9.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 6.4% QoQ during the same period.
• The company's operating profit declined by 17.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 27.8% in 3QFY21 as against 30.4% in 2QFY20.
• Net profit for the quarter declined by 20.3% QoQ, while net profit margins declined from 22.3% in 2QFY20 to 19.7% in 3QFY21.

To see how ALEMBIC PHARMA has performed over the last eight quarters,please visit here.

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ALEMBIC PHARMA Share Price Performance

Over the last one year, ALEMBIC PHARMA share price has moved up from Rs 603.6 to Rs 1,033.8, registering a Gain of Rs 430.2 or around 71.3%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 21,853.9 (up 1.5%). Over the last one year it has moved up from 14,051.2 to 21,853.9, a gain of 7,803 points (up 55.5%).

Overall, the S&P BSE SENSEX is up 18.0% over the year.

Current Valuations

At the current price of Rs 1,033.8, the price to earnings (P/E) ratio of ALEMBIC PHARMA stands at 18.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.2 times.