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Dr. Reddy’s Q4 & FY20 Financial Results

2020年05月20日 PM07:45
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HYDERABAD, India

Dr. Reddy’s Laboratories Ltd. (BSE: 500124 | NSE: DRREDDY | NYSE: RDY) today announced its consolidated financial results for the fourth quarter and full year ended March 31, 2020 under International Financial Reporting Standards (IFRS).

Q4 Performance Summary

FY20 Performance Summary

Rs. 4,432 Cr

Rs. 17,460 Cr

Revenue

Revenue

[Up: 1% QoQ; Up: 10% YoY]

[Up: 13% YoY]

 

51.5%

53.8%

Gross Margin

Gross Margin

[Q3 FY20: 54.1%; Q4 FY19: 52.4%]

[FY19: 54.2%]

 

Rs. 1,218 Cr

Rs. 5,013 Cr

SGNA expenses

SGNA expenses

[Down: 4% QoQ, Down: 1% YoY]

[Up: 3% YoY]

 

Rs. 419 Cr

Rs. 1,541 Cr

R&D expenses

R&D expenses

[9.5% of Revenues]

[8.8% of Revenues]

 

Rs. 1,001 Cr

Rs. 4,643 Cr

EBITDA

EBITDA

[Down: 7% QoQ; Up: 14% YoY]

[Up: 36% YoY]

 

Rs. 714 Cr

Rs. 1,803 Cr *

Profit before Tax

Profit before Tax

[16.1% of Revenues]

[10.3% of Revenues]

* Excluding intangibles impairment of Rs. 1,677 Cr; Adjusted Profit before tax is Rs. 3,480 Cr (55% growth YoY)

Commenting on the results, Co-Chairman and MD, GV Prasad said, “FY 20 has been a very positive year for the company. Progress made during the year includes VAI status for CTO 6, healthy product pipeline build up, productivity improvement, and strong financial performance across our businesses.”

All amounts in millions, except EPS. All US dollar amounts based on convenience translation rate of I USD = Rs. 75.39

 

Dr. Reddy’s Laboratories Limited and Subsidiaries

Consolidated Income Statement

 

Particulars

Q4 FY20

Q4 FY19

YoY
Gr %

Q3 FY20

QoQ
Gr%

 ($)

 (Rs.)

 ($)

 (Rs.)

 ($)

 (Rs.)

Revenues

588

44,318

533

40,166

10

581

43,838

1

Cost of Revenues

285

21,510

254

19,113

13

267

20,116

7

Gross Profit

303

22,808

279

21,053

8

315

23,722

(4)

Operating Expenses

 

 

 

 

 

 

 

 

Selling, General & Administrative expenses

162

12,177

163

12,294

(1)

168

12,670

(4)

Research and Development expenses

56

4,190

49

3,662

14

52

3,949

6

Impairment of non-current assets

0

7

1

82

(91)

175

13,200

(100)

Other operating income

(2)

(168)

(4)

(330)

(49)

(3)

(228)

(26)

Results from operating activities

88

6,602

71

5,345

24

(78)

(5,869)

(212)

Net finance income

(6)

(435)

(5)

(349)

25

(6)

(419)

4

Share of profit of equity accounted investees

(1)

(105)

(2)

(157)

(33)

(2)

(176)

(40)

Profit before income tax

95

7,142

78

5,851

22

(70)

(5,274)

(235)

Income tax

(7)

(500)

20

1,507

(133)

6

423

(218)

Profit for the period

101

7,642

58

4,344

76

(76)

(5,697)

(234)

 

 

 

 

 

 

 

 

Diluted Earnings Per Share (EPS)

0.61

46.01

0.35

26.16

76

(0.46)

(34.37)

(234)

As % to Revenues

Q4
FY20

Q4
FY19

Q3
FY20

Gross Profit

51.5

52.4

54.1

SG&A

27.5

30.6

28.9

R&D

9.5

9.1

9.0

EBITDA

 

22.6

 

22.0

 

 

24.5

 

PBT

16.1

14.6

(12.0)

PAT

17.2

10.8

(13.0)

 

EBITDA Computation

 

Particulars

Q4 FY20

Q4 FY19

Q3 FY20

($)

(Rs.)

($)

(Rs.)

($)

(Rs.)

Profit before Income Tax

95

7,142

78

5,851

(70)

(5,274)

Interest (income) net*

(1)

(100)

(3)

(215)

(4)

(274)

Depreciation

28

2,080

28

2,136

28

2,130

Amortization

12

885

13

965

13

955

Impairment

0

7

 

1

82

 

175

13,200

EBITDA

133

10,013

117

8,819

142

10,737

* Includes income from Investments

 

Revenue Mix by Segment

 

Particulars

Q4 FY20

Q4 FY19

YoY
Growth %

Q3 FY20

QoQ
Growth %

(Rs.)

(Rs.)

(Rs.)

Global Generics

36,398

30,384

20

35,927

1

North America

18,072

14,957

21

15,999

13

Europe

3,446

1,912

80

3,093

11

India

6,839

6,505

5

7,636

(10)

Emerging Markets

8,042

7,010

15

9,199

(13)

Pharmaceutical Services and Active Ingredients (PSAI)

7,195

6,765

6

6,906

4

Proprietary Products & Others

725

3,017

(76)

1,005

(28)

Total

44,318

40,166

10

43,838

1

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    Dr. Reddy’s Laboratories Limited and Subsidiaries

    Consolidated Income Statement

     

    Particulars

    FY 20

    FY 19

    Growth %

    ($)

    (Rs.)

    %

    ($)

    (Rs.)

    %

    Revenues

    2,316

    1,74,600

    100.0

    2,041

    1,53,851

    100.0

    13

    Cost of Revenues

    1,069

    80,591

    46.2

    934

    70,421

    45.8

    14

    Gross Profit

    1,247

    94,009

    53.8

    1,107

    83,430

    54.2

    13

    Operating Expenses

     

     

     

     

     

     

     

    Selling, General & Administrative expenses

    665

    50,129