Alkem Laboratories (ALKEM) Q4 12/13 earnings summary

Executive summary

• FY2012-13 gross sales rose 18.33% YoY to Rs 2,33,528.73 lakh; PAT increased to Rs 49,612.99 lakh from Rs 42,548.12 lakh.

• Growth and earnings were supported by the pharmaceutical business, alongside expansion of the overseas subsidiary network and continued R&D investment.

Financial highlights

• Revenue from operations, net of excise duty, was Rs 2,32,789.51 lakh versus Rs 1,95,339.62 lakh; total income was Rs 2,49,713.08 lakh versus Rs 2,08,823.44 lakh.

• PBT increased to Rs 50,990.98 lakh from Rs 45,438.23 lakh; PAT was Rs 49,612.99 lakh versus Rs 42,548.12 lakh.

• Operating cash flow reached Rs 55,566.15 lakh, versus Rs 11,846.74 lakh in FY2011-12.

• R&D expenditure was Rs 14,263.34 lakh, equal to 6.11% of turnover; this included Rs 9,453.30 lakh of recurring spend, excluding depreciation of Rs 419.71 lakh.

Segment performance

• Pharma revenue, net, was Rs 2,32,789.51 lakh versus Rs 1,95,339.62 lakh; PBT rose to Rs 40,280.17 lakh from Rs 35,806.45 lakh.

• Pharma profit before interest, depreciation and tax was Rs 46,431.46 lakh versus Rs 40,292.16 lakh.

• Investing and real estate revenue was Rs 16,175.42 lakh versus Rs 13,374.16 lakh; PBT was Rs 10,710.81 lakh versus Rs 9,631.78 lakh.