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Ipca Limited Q4FY21 Conference Call Highlights

Ipca Limited Q4FY21 Conference Call Highlights

Published on 09 June 2021 Views 94 Comments 1

FY21 Performance:

  • FY2021 has been a strong year overall for the company, performance impacted positively by almost around 365 crores
  • Consolidated busines recorded 16% growth and is around 5482 crores
  • Consolidated EBITDA recorded 50% growth and is at 1566 crores
  • Integrated business has moved to almost around 61% from 56%
  • Additional business on account of chloroquine and Hydroxychloroquine business, formulation side is almost around 185 crores, on API side that figure is almost 180 crores for the financial year
  • Ex-Hydroxychloroquine recorded 9% business growth over previous financial year.
  • Cardiovascular business in domestic market recorded around 6% business, newer therapies which are like CNS recorded 11% growth, Uro 7% growth, Derma recorded around 23% growth and ophthal has given almost 61% kind of growth
  • Some of the therapies like anti-malarial, anti-bacterial, cough and cold continue to show decline for the quarter as well as the year due to covid impact.

 

Q4FY21 Performance:

  • Q4 business performance not in line with expectation, domestic foundation business delivered just 1% business clocked for the quarter
  • HCQS formulation business is around 20 crores, the back effect of lower domestic formulation business has impacted almost around 4% of domestic growth
  • Overall margin for the quarter improved to 72% as against the 68% for the same quarter during the previous year
  • Hydroxychloroquine business for the quarter is 20 crores, down by 17 crores from the figures of same quarter of the previous financial year
  • Promotional market growth in this quarter is around 32%

 

 

Research & Development and Products:

  • There is a slight 0.5% incremental expenditure as a percentage of sales in the R&D cost this year.
  • Dewas maybe in the third quarter end or fourth quarter, at Ratlam some kind of work is going on and that should get over by the end of second quarter completely validated and those capacities could be available.

 

FY22 Outlook:

  • As there was additional business last year on account of chloroquine and Hydroxychloroquine, overall business growth will be little lower and the expectation is that it would be around 9% to 10% in the next financial year
  • Business growth may be around 16% to 18% in domestic formulations
  • Promotional branded business expected to grow13% to 15% in next financial year
  • Domestic API business may decline around 28% in next financial year
  • The institutional business grew by almost around 95% to 96% last year, from that base a 5% improvement is expected
  • Overall business growth on the generic side is likely to be around 5%
  • API business may have a lower growth of around 10% overall
  • EBITDA could be almost around 25% to 25.5% in the next financial year.
  • Overall capex could be around 550 crores to 600 crores
  • API businesses has improved for last 2-3 years and is expected to keep on improving as demand is very strong

 

 

 

 

 

 

 

 

 

 

 

 

 

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