Pfizer India (PFIZER) Q4 23/24 earnings summary

Executive summary

• Delivered resilient performance despite challenges, maintaining focus on patient safety and product quality, with key brands showing double-digit growth and successful launches in FY 2023-24.

• Voluntary recall of certain injectables impacted sales, but supply chain agility restored key products to market.

• Continued investment in manufacturing, sustainability, and digital transformation, with strong employee engagement and DEI initiatives.

Financial highlights

• Revenue from operations for FY 2023-24 was ₹2,081.04 crore, down 11% year-over-year due to product recalls and price controls.

• Profit before tax was ₹746.07 crore, a 9.45% decline from the previous year.

• Net profit stood at ₹551.33 crore, compared to ₹623.93 crore in FY 2022-23.

• EBITDA margin decreased to 29% from 33% year-over-year.

• Dividend of ₹35 per share (350%) recommended, totaling ₹160.12 crore.

Outlook and guidance

• Focus on expanding sales and distribution, launching new SKUs, and sharpening marketing initiatives for FY 2024-25.

• Continued investment in sustainability, digital transformation, and employee development.

• Indian pharmaceutical market expected to grow at 8.4% CAGR through 2028, with new product launches and increased health awareness as key drivers.