HYDERABAD, India
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Dr. Reddy’s Laboratories Ltd. (BSE: 500124 | NSE: DRREDDY | NYSE: RDY) today announced its consolidated financial results for the quarter and the half year ended September 30, 2019 under International Financial Reporting Standards (IFRS).
| Q2 Performance Summary |
H1 Performance Summary |
||
|
Rs. 4,801 Cr |
Rs. 8,644 Cr |
||
|
57.5% |
54.9% |
||
|
Rs.1,678 Cr |
Rs. 2,884 Cr |
||
|
Rs. 366 Cr |
Rs. 727 Cr |
||
|
Rs. 766 Cr |
Rs. 1,616 Cr |
Commenting on the results, Co-Chairman and MD, GV Prasad said, “I am pleased with our performance across the businesses and strong cash generation during the quarter. We are progressing well in execution of our strategy and in our transformation journey on quality and efficiency.”
All amounts in millions, except EPS All US dollar amounts based on convenience translation rate of I USD = Rs. 70.64
|
Dr. Reddy’s Laboratories Limited and Subsidiaries |
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|
Consolidated Income Statement |
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|
Particulars |
Q2 FY20 |
Q2 FY19 |
YoY |
Q1 FY20 |
QoQ |
|||
|
($) |
(Rs.) |
($) |
(Rs.) |
($) |
(Rs.) |
|||
|
Revenues |
680 |
48,009 |
538 |
37,978 |
26 |
544 |
38,435 |
25 |
|
Cost of Revenues |
289 |
20,389 |
242 |
17,081 |
19 |
263 |
18,576 |
10 |
|
Gross Profit |
391 |
27,620 |
296 |
20,897 |
32 |
281 |
19,859 |
39 |
|
Operating Expenses |
|
|
|
|
|
|
|
|
|
Selling, General & Administrative expenses |
238 |
16,777 |
175 |
12,372 |
36 |
171 |
12,065 |
39 |
|
Research and Development expenses |
52 |
3,662 |
58 |
4,120 |
(11) |
51 |
3,609 |
1 |
|
Other operating (income) |
-2 |
-135 |
-9 |
-641 |
(79) |
-53 |
-3,759 |
(96) |
|
Results from operating activities |
104 |
7,316 |
71 |
5,046 |
45 |
112 |
7,944 |
(8) |
|
Net finance (income) |
-3 |
-231 |
-9 |
-625 |
(63) |
-6 |
-393 |
(41) |
|
Share of (profit) / loss of equity accounted investees |
-2 |
-117 |
-2 |
-109 |
8 |
-2 |
-163 |
(28) |
|
Profit before income tax |
108 |
7,664 |
82 |
5,780 |
33 |
120 |
8,500 |
(10) |
|
Income tax expense / (benefit) |
-46 |
-3,261 |
11 |
742 |
(539) |
26 |
1,872 |
(274) |
|
Profit for the period |
155 |
10,925 |
71 |
5,038 |
117 |
94 |
6,628 |
65 |
|
|
|
|
|
|
|
|
|
|
|
Diluted Earnings Per Share (EPS) |
0.93 |
65.82 |
0.43 |
30.31 |
117 |
0.57 |
39.91 |
65 |
|
As % to Revenues |
Q2 |
|
|
Q2 |
|
|
|
|
Q1 |
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|
Gross Profit |
57.5 |
|
|
55.0 |
|
|
|
|
51.7 |
||
|
SG&A |
34.9 |
|
|
32.6 |
|
|
|
|
31.4 |
||
|
R&D |
7.6 |
|
|
10.8 |
|
|
|
|
9.4 |
||
|
EBITDA |
|
29.9 |
|
|
22.8 |
|
|
|
|
29.5 |
|
|
PBT |
16.0 |
|
|
15.2 |
|
|
|
|
22.1 |
||
|
PAT |
22.8 |
|
|
13.3 |
|
|
|
|
17.2 |
|
EBITDA Computation |
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|
Particulars |
Q2 FY20 |
|
|
|
Q2 FY19 |
|
|
|
Q1 FY20 |
|||
|
($) |
(Rs.) |
|
|
|
($) |
(Rs.) |
|
|
|
($) |
(Rs.) |
|
|
Profit before Income Tax |
108 |
7,664 |
|
|
|
82 |
5,780 |
|
|
|
120 |
8,500 |
|
Interest (income) net* |
-3 |
(226) |
|
|
|
(2) |
(132) |
|
|
|
(3) |
(239) |
|
Depreciation |
33 |
2,306 |
|
|
|
29 |
2,033 |
|
|
|
30 |
2,124 |
|
Amortization |
15 |
1,033 |
|
|
|
14 |
965 |
|
|
|
14 |
959 |
|
Impairment |
50 |
3,561 |
|
|
|
– |
– |
|
|
|
(0) |
(1) |
|
EBITDA |
203 |
14,338 |
|
|
|
122 |
8,646 |
|
|
|
161 |
11,343 |
|
* Includes income from Investments |
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|
Key Balance Sheet Items |
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|
Particulars |
As on 30th Sep |
As on 30th June |
As on 30th Sep |
|||
|
($) |
(Rs.) |
($) |
(Rs.) |
($) |
(Rs.) |
|
|
Cash and cash equivalents and other investments |
431 |
30,446 |
403 |
28,439 |
295 |
20,837 |
|
Trade receivables (current & non-current) |
597 |
42,153 |
537 |
37,961 |
656 |
46,317 |
|
Inventories |
496 |
35,033 |
497 |
35,137 |
460 |
32,490 |
|
Property, plant and equipment |
750 |
53,008 |
766 |
54,083 |
802 |
56,640 |
|
Goodwill and Other Intangible assets |
628 |
44,340 |
677 |
47,821 |
726 |
51,290 |
|
Loans and borrowings (current & non-current) |
447 |
31,545 |
487 |
34,387 |
786 |
55,522 |
|
Trade payables |
218 |
15,434 |
210 |
14,842 |
199 |
14,073 |
|
Equity |
2,177 |
1,53,816 |
2,070 |
1,46,208 |
1,861 |
1,31,446 |
|
Revenue Mix by Segment |
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|
Particulars |
Q2 FY20 |
Q2 FY19 |
YoY |
Q1 FY20 |
QoQ |
|
(Rs.) |
(Rs.) |
(Rs.) |
|||
|
Global Generics |
32,816 |
30,536 |
7% |
32,982 |
-1% |
|
North America |
14,265 |
14,265 |
0% |
16,322 |
-13% |
|
Europe |
2,764 |
1,915 |
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