For thequarter ending June 2022, standalone net sales (including other operating income) of Sanofi India has declined 11.38% to Rs 699.30 crore compared to quarter ended june 2021. Operating profit margin has declined from 31.31% to 23.04%, leading to 34.80% decline in operating profit to Rs 161.10 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 16.55% to 19.81%. Purchase of finished goods cost rose from 23.75% to 25.99%. Employee cost decreased from 14.95% to 14.86%. Other expenses rose from 11.76% to 16.36%. Other income fell 8.19% to Rs 15.7 crore. PBIDT fell 33.08% to Rs 176.8 crore. Provision for interest fell 20% to Rs 0.4 crore. Loan funds declined from Rs 26.80 crore as of 30 June 2021 to Rs 22.50 crore as of 30 June 2022. Inventories rose to Rs 395.10 crore as of 30 June 2022 from Rs 363.00 crore as of 30 June 2021. Sundry debtors were higher at Rs 120.50 crore as of 30 June 2022 compared to Rs 101.50 crore as of 30 June 2021. Cash and bank balance declined from Rs 936.40 crore as of 30 June 2021 to Rs 699.00 crore as of 30 June 2022.
PBDT fell 33.11% to Rs 176.4 crore. Provision for depreciation down 49.76% to Rs 10.6 crore. Fixed assets declined from Rs 353.40 crore as of 30 June 2021 to Rs 328.60 crore as of 30 June 2022. Intangible assets declined from Rs 92.30 crore to Rs 4.70 crore.
Profit before tax down 31.66% to Rs 165.80 crore. Provision for tax was expense of Rs 45.4 crore, compared to Rs 64.3 crore. Effective tax rate was 27.38% compared to 26.50%.
Profit after tax fell 32.47% to Rs 120.40 crore.
Equity capital stood at Rs 23.00 crore as of 30 June 2022 to Rs 23.00 crore as of 30 June 2021. Per share face Value remained same at Rs 10.00.
Promoters' stake was 60.40% as of 30 June 2022 ,compared to 60.40% as of 30 June 2021 .
For year-to-date (YTD) results analysis
Net sales (including other operating income) of Sanofi India has declined 7.13% to Rs 1,406.30 crore.
Operating profit margin has declined from 28.83% to 25.29%, leading to 18.53% decline in operating profit to Rs 355.60 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 19.09% to 20.64%. Purchase of finished goods cost rose from 23.25% to 26.14%. Employee cost decreased from 14.84% to 13.86%. Other expenses rose from 13.14% to 15.31%. Other income fell 7.60% to Rs 40.1 crore. PBIDT fell 17.55% to Rs 395.7 crore. Provision for interest fell 11.11% to Rs 0.8 crore. Loan funds declined from Rs 26.80 crore as of 30 June 2021 to Rs 22.50 crore as of 30 June 2022. Inventories rose to Rs 395.10 crore as of 30 June 2022 from Rs 363.00 crore as of 30 June 2021. Sundry debtors were higher at Rs 120.50 crore as of 30 June 2022 compared to Rs 101.50 crore as of 30 June 2021. Cash and bank balance declined from Rs 936.40 crore as of 30 June 2021 to Rs 699.00 crore as of 30 June 2022.
PBDT fell 17.56% to Rs 394.9 crore. Provision for depreciation down 48.19% to Rs 21.5 crore. Fixed assets declined from Rs 353.40 crore as of 30 June 2021 to Rs 328.60 crore as of 30 June 2022. Intangible assets declined from Rs 92.30 crore to Rs 4.70 crore. Profit before tax down 14.65% to Rs 373.40 crore. Provision for tax was expense of Rs 132.7 crore, compared to Rs 113.3 crore. Effective tax rate was 27.00% compared to 25.90%.Profit after tax rose 10.67% to Rs 358.80 crore. Equity capital stood at Rs 23.00 crore as of 30 June 2022 to Rs 23.00 crore as of 30 June 2021. Per share face Value remained same at Rs 10.00.
Promoters' stake was 60.40% as of 30 June 2022 ,compared to 60.40% as of 30 June 2021 .
Cash flow from operating activities decreased to Rs 116.90 crore for YTD ended June 2022 from Rs 512.40 crore for YTD ended June 2021. Cash flow used in acquiring fixed assets during the YTD ended June 2022 stood at Rs 4.90 crore, compared to Rs 9.30 crore during the YTD ended June 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.
Equity capital stood at Rs 23.00 crore as of 30 June 2022 to Rs 23.00 crore as of 30 June 2021. Per share face Value remained same at Rs 10.00.
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.
Dividend update
The Board of Directors has declared One-Time Special InterimDividend of Rs 193 per equity share of Rs 10 each for the financial year ending31st December 2022.
| Sanofi India : Standalone Results |
| Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202206 | 202106 | Var.(%) | 202206 | 202106 | Var.(%) | 202112 | 202012 | Var.(%) |
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| Net Sales (including other operating income) | 699.30 | 789.10 | -11.38 | 1,406.30 | 1,514.20 | -7.13 | 2,956.60 | 2,901.90 | 1.88 | | OPM (%) | 23.04 | 31.31 | -828 bps | 25.29 | 28.83 | -354 bps | 25.79 | 24.57 | 122 bps | | OP | 161.10 | 247.10 | -34.80 | 355.60 | 436.50 | -18.53 | 762.50 | 713.10 | 6.93 | | Other Inc. | 15.70 | 17.10 | -8.19 | 40.10 | 43.40 | -7.60 | 74.40 | 89.80 | -17.15 | | PBIDT | 176.80 | 264.20 | -33.08 | 395.70 | 479.90 | -17.55 | 836.90 | 802.90 | 4.23 | | Interest | 0.4 | 0.5 | -20.00 | 0.8 | 0.9 | -11.11 | 1.8 | 1.8 | 0.00 | | PBDT | 176.40 | 263.70 | -33.11 | 394.90 | 479.00 | -17.56 | 835.10 | 801.10 | 4.24 | | Depreciation | 10.6 | 21.1 | -49.76 | 21.5 | 41.5 | -48.19 | 66.7 | 82.2 | -18.86 | | PBT | 165.80 | 242.60 | -31.66 | 373.4 | 437.5 | -14.65 | 768.4 | 718.9 | 6.89 | | PBT before EO | 165.8 | 242.6 | -31.66 | 373.4 | 437.5 | -14.65 | 768.4 | 718.9 | 6.89 | | EO Income | 0 | 0 | - | 118.1 | 0 | - | 489.2 | -41.7 | LP | | PBT after EO | 165.8 | 242.6 | -31.66 | 491.5 | 437.5 | 12.34 | 1257.6 | 677.2 | 85.71 | | Taxation | 45.4 | 64.3 | -29.39 | 132.7 | 113.3 | 17.12 | 313.2 | 199.6 | 56.91 | | PAT | 120.4 | 178.3 | -32.47 | 358.8 | 324.2 | 10.67 | 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 | 120.4 | 178.3 | -32.47 | 358.8 | 324.2 | 10.67 | 944.4 | 477.6 | 97.74 | | EPS (Rs)* | 52.28 | 77.42 | -32.47 | 118.36 | 140.77 | -15.92 | 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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