Vaishali Pharma (VAISHALI) Q4 21/22 earnings summary

Executive summary

• FY22 total income reached ₹776.1m vs ₹555.8m; net profit rose to ₹40.2m from ₹10.5m, while operating cash flow was ₹13.2m vs ₹20.1m.

• Growth came from pharmaceutical product trading across domestic and export markets; the business reported one operating segment.

Financial highlights

• Revenue from operations was ₹758.2m vs ₹537.7m; other income was ₹17.9m vs ₹18.1m.

• Profit before tax was ₹57.3m vs ₹14.0m; net profit was ₹40.2m vs ₹10.5m; total comprehensive income was ₹40.4m vs ₹10.4m.

• EPS was ₹3.82 vs ₹0.99; finance costs were ₹24.6m vs ₹26.1m.

• Other expenses included ₹18.2m of bad debts written off; no adjusted earnings figure was reported.

• Operating cash flow was ₹13.2m vs ₹20.1m; cash and cash equivalents at year-end were ₹11.6m vs ₹3.1m.

Outlook and guidance

• Management expects further profitability improvement from margin initiatives focused on reducing costs across products.

• Repeat orders and execution of major customer orders supported confidence in continued business growth.

• Plans include introducing new molecules domestically in 2022, registering more products internationally, and expanding nutraceutical offerings.

• Four products—Cellargy, Coldaway, Combicough and Coughquit—received registrations across dosages in Cambodia; management cited local demand and further market potential.