Vaishali Pharma (VAISHALI) Q4 22/23 earnings summary

Executive summary

• FY23 revenue from operations declined to Rs 6,966.28 lakh from Rs 7,582.08 lakh, while net profit increased to Rs 660.35 lakh from Rs 402.37 lakh.

• Export revenue rose to Rs 1,845.60 lakh from Rs 1,559.63 lakh, offsetting part of the decline in domestic revenue.

• Auditors highlighted material uncertainty over recovery of aged receivables and advances, including Rs 2,618.58 lakh of trade receivables outstanding for more than three years.

Financial highlights

• Total income was Rs 7,189.15 lakh versus Rs 7,760.89 lakh; profit before tax rose to Rs 884.62 lakh from Rs 572.84 lakh.

• Net profit was Rs 660.35 lakh versus Rs 402.37 lakh; total comprehensive income reached Rs 664.24 lakh versus Rs 404.02 lakh.

• Basic EPS was Rs 6.26 versus Rs 3.82; diluted EPS was Rs 5.91 versus Rs 3.82.

• Purchases of stock-in-trade fell to Rs 5,709.87 lakh from Rs 6,354.13 lakh; finance costs decreased to Rs 200.85 lakh from Rs 245.88 lakh.

Outlook and guidance

• Repeat orders and execution of major customer orders supported management confidence; cost-reduction initiatives to improve margins were expected to lift profitability in coming years.

• Priorities include sustainable growth, innovation, governance, new product registrations and expansion in domestic and international markets.