CADILA HEALTHCARE Announces Quarterly Results (2QFY19); Net Profit Down 18.6%

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CADILA HEALTHCARE Announces Quarterly Results (2QFY19); Net Profit Down 18.6%
Mon, 5 Nov

CADILA HEALTHCARE has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

CADILA HEALTHCARE Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m32,34028,93729,6122.3%-8.4%
Other incomeRs m2251,013304-70.0%35.1%
TurnoverRs m32,56529,95029,916-0.1%-8.1%
ExpensesRs m23,76922,48722,7341.1%-4.4%
Gross profitRs m8,4786,3836,7716.1%-20.1%
DepreciationRs m1,2671,4181,4754.0%16.4%
InterestRs m4063503572.0%-12.1%
Profit before taxRs m7,0305,6285,243-6.8%-25.4%
TaxRs m2,1231,2031,2473.7%-41.3%
Profit after taxRs m4,9074,4253,996-9.7%-18.6%
Gross profit margin%26.222.122.9
Effective tax rate%30.221.423.8
Net profit margin%15.114.813.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 8.4% on a year-on-year (YoY) basis. The expenses were down by 4.4% YoY during the same period.
  • The company's operating profit declined by 20.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 22.9% in 2QFY19 as against 26.2% in 2QFY18.
  • Depreciation charges increased by 16.4% and finance costs declined by 12.1% YoY, respectively.
  • Other income increased by 35.1% YoY during the quarter.
  • Net profit for the quarter declined by 18.6% YoY. Net profit margins during the quarter declined from 15.1% in 2QFY18 to 13.4% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.1% QoQ during the same period.
  • The company's operating profit increased by 6.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 22.9% in 2QFY19 as against 22.1% in 1QFY18.
  • Net profit for the quarter declined by 9.7% QoQ, while net profit margins declined from 14.8% in 1QFY18 to 13.4% in 2QFY19.

To see how CADILA HEALTHCARE has performed over the last eight quarters, please visit here.

CADILA HEALTHCARE Share Price Performance

Over the last one year, CADILA HEALTHCARE share price has moved up from Rs 496.4 to Rs 359.5, registering a Loss of Rs 136.9 or around 27.6%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 14,404.3 (down 1.1%). Over the last one year it has moved down from 14,530.4 to 14,404.3, a gain of 126 points (down 0.9%).

Overall, the S&P BSE SENSEX is up 3.8% over the year.

Current Valuations

At the current price of Rs 359.5, the price to earnings (P/E) ratio of CADILA HEALTHCARE stands at 18.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.2 times.

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