Forthe quarter ending sept 2022, standalone Net sales (including other operating income) of Sanofi India has declined 8.30% to Rs 691.90 crore compared to quarter ended sept 2021. Operating profit margin has declined from 26.35% to 26.29%, leading to 8.50% decline in operating profit to Rs 181.90 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 18.97% to 19.09%. Purchase of finished goods cost fell from 26.01% to 17.81%. Employee cost increased from 13.99% to 15.25%. Other expenses rose from 15.13% to 19.34%. Other income fell 22.45% to Rs 11.4 crore. PBIDT fell 9.46% to Rs 193.3 crore. Provision for interest remained nil.
PBDT fell 9.48% to Rs 192.8 crore. Provision for depreciation down 27.27% to Rs 10.4 crore.
Profit before tax down 8.20% to Rs 182.40 crore. Provision for tax was expense of Rs 51.5 crore, compared to Rs 158.1 crore. Effective tax rate was 28.23% compared to 22.98%.
Profit after tax fell 75.29% to Rs 130.90 crore.
Promoters' stake was 60.40% as of 30 September 2022 ,compared to 60.40% as of 30 September 2021 .
For year-to-date (YTD) results analysis
Net sales (including other operating income) of Sanofi India has declined 7.52% to Rs 2,098.20 crore.
Operating profit margin has declined from 28% to 25.62%, leading to 15.39% decline in operating profit to Rs 537.50 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 19.05% to 20.17%. Purchase of finished goods cost fell from 24.20% to 23.63%. Employee cost decreased from 14.55% to 14.28%. Other expenses rose from 13.82% to 16.53%. Other income fell 11.36% to Rs 51.5 crore. PBIDT fell 15.06% to Rs 589 crore. Provision for interest fell 7.14% to Rs 1.3 crore.
PBDT fell 15.07% to Rs 587.7 crore. Provision for depreciation down 42.83% to Rs 31.9 crore. Profit before tax down 12.64% to Rs 555.80 crore. Extraordinary items were decreased to Rs 118.10 crore. Provision for tax was expense of Rs 184.2 crore, compared to Rs 271.4 crore. Effective tax rate was 27.33% compared to 24.12%.Profit after tax fell 42.66% to Rs 489.70 crore. Promoters' stake was 60.40% as of 30 September 2022 ,compared to 60.40% as of 30 September 2021 .
Full year results analysis
Net sales (including other operating income) of Sanofi India has increased 1.88% to Rs 2,956.60 crore. Operating profit margin has jumped from 24.57% to 25.79%, leading to 6.93% rise in operating profit to Rs 762.50 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 20.79% to 19.05%. Purchase of finished goods cost rose from 21.26% to 24.32%. Employee cost decreased from 16.20% to 14.89%. Other expenses fell from 16.68% to 15.56%. Other income fell 17.15% to Rs 74.4 crore. PBIDT rose 4.23% to Rs 836.9 crore. Provision for interest remained nil. Loan funds rose to Rs 24.60 crore as of 31 December 2021 from Rs 22.60 crore as of 31 December 2020. Inventories rose to Rs 392.40 crore as of 31 December 2021 from Rs 368.00 crore as of 31 December 2020. Sundry debtors were lower at Rs 142.90 crore as of 31 December 2021 compared to Rs 148.00 crore as of 31 December 2020. Cash and bank balance rose to Rs 1,550.30 crore as of 31 December 2021 from Rs 1,208.60 crore as of 31 December 2020.
PBDT rose 4.24% to Rs 835.1 crore. Provision for depreciation down 18.86% to Rs 66.7 crore. Fixed assets declined from Rs 362.90 crore as of 31 December 2020 to Rs 341.70 crore as of 31 December 2021. Intangible assets declined from Rs 111.20 crore to Rs 5.20 crore.
Profit before tax grew 6.89% to Rs 768.40 crore. Provision for tax was expense of Rs 313.2 crore, compared to Rs 199.6 crore. Effective tax rate was 24.90% compared to 29.47%.
Profit after tax rose 97.74% to Rs 944.40 crore.
Promoters' stake was 60.40% as of 31 December 2021 ,compared to 60.40% as of 31 December 2020 .
Cash flow from operating activities decreased to Rs 558.80 crore for year ended December 2021 from Rs 611.10 crore for year ended December 2020. Cash flow used in acquiring fixed assets during the year ended December 2021 stood at Rs 23.00 crore, compared to Rs 41.40 crore during the year ended December 2020.
| Sanofi India : Standalone Results |
| Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202209 | 202109 | Var.(%) | 202209 | 202109 | Var.(%) | 202112 | 202012 | Var.(%) |
|---|
| Net Sales (including other operating income) | 691.90 | 754.50 | -8.30 | 2,098.20 | 2,268.70 | -7.52 | 2,956.60 | 2,901.90 | 1.88 | | OPM (%) | 26.29 | 26.35 | -6 bps | 25.62 | 28.00 | -239 bps | 25.79 | 24.57 | 122 bps | | OP | 181.90 | 198.80 | -8.50 | 537.50 | 635.30 | -15.39 | 762.50 | 713.10 | 6.93 | | Other Inc. | 11.40 | 14.70 | -22.45 | 51.50 | 58.10 | -11.36 | 74.40 | 89.80 | -17.15 | | PBIDT | 193.30 | 213.50 | -9.46 | 589.00 | 693.40 | -15.06 | 836.90 | 802.90 | 4.23 | | Interest | 0.5 | 0.5 | 0.00 | 1.3 | 1.4 | -7.14 | 1.8 | 1.8 | 0.00 | | PBDT | 192.80 | 213.00 | -9.48 | 587.70 | 692.00 | -15.07 | 835.10 | 801.10 | 4.24 | | Depreciation | 10.4 | 14.3 | -27.27 | 31.9 | 55.8 | -42.83 | 66.7 | 82.2 | -18.86 | | PBT | 182.40 | 198.70 | -8.20 | 555.8 | 636.2 | -12.64 | 768.4 | 718.9 | 6.89 | | PBT before EO | 182.4 | 198.7 | -8.20 | 555.8 | 636.2 | -12.64 | 768.4 | 718.9 | 6.89 | | EO Income | 0 | 489.2 | - | 118.1 | 489.2 | -75.86 | 489.2 | -41.7 | LP | | PBT after EO | 182.4 | 687.9 | -73.48 | 673.9 | 1125.4 | -40.12 | 1257.6 | 677.2 | 85.71 | | Taxation | 51.5 | 158.1 | -67.43 | 184.2 | 271.4 | -32.13 | 313.2 | 199.6 | 56.91 | | PAT | 130.9 | 529.8 | -75.29 | 489.7 | 854 | -42.66 | 944.4 | 477.6 | 97.74 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 130.9 | 529.8 | -75.29 | 489.7 | 854 | -42.66 | 944.4 | 477.6 | 97.74 | | EPS (Rs)* | 56.84 | 66.45 | -14.46 | 175.37 | 209.63 | -16.34 | 250.56 | 220.15 | 13.81 | | | * EPS is on current equity of Rs 23.03 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 |
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