16th May 2024, Ludhiana: IOL Chemicals and Pharmaceuticals Ltd, a leading manufacturer of pharmaceutical APIs and specialty chemicals, announced its financial results for the fourth quarter and year ended March 31, 2024.
Standalone Q4 & FY24 Financial Highlights (₹ in Crore)
| Particulars | Q4 FY24 | Q3 FY24 | % QoQ | Q4 FY23 | % YoY | FY24 | FY23 | % YoY |
| Total Income | 511.4 | 528.8 | -3.3% | 595.9 | -14.2% | 2162.9 | 2,242.7 | -3.6% |
| EBITDA | 57.6 | 52.9 | 9.9% | 104.5 | -44.9% | 261.6 | 252.1 | 3.8% |
| EBITDA Margin (%) | 11.3% | 10.0% | 130 bps | 17.5% | -620 bps | 12.1% | 11.2% | 90 bps |
| PAT | 28.2 | 23.2 | 21.6% | 65.3 | -56.8% | 135.4 | 140.0 | -3.3% |
| PAT Margin (%) | 5.5% | 4.4% | 110 bps | 11.0% | -550 bps | 6.3% | 6.2% | 10 bps |
Commenting on the performance, Mr Vikas Gupta, Joint Managing Director said, “The Company has exhibited resilient financial performance in FY24 despite challenging macro-economic environment and volatile chemical sector trajectory. We are receiving positive responses in the export market despite geopolitical uncertainties and supply chain obstacles. Though the revenue growth has been sluggish, the margins were stable following the Company’s sustained cost-control initiatives. We believe that chemical sector turbulence would likely stabilize this financial year. In the non-ibuprofen segment, we are on track to expand our footprints in key regulated markets following approvals and certifications received last year. During the year the capex in infrastructure and automation will improve the operational efficiency and reduce the carbon footprint.”
FY24 Financial Highlights
- Total income at ₹ 2,162.9 Cr against ₹ 2,242.7 Cr
- EBITDA up 3.8% YoY to ₹ 261.6 Cr
- Net profit at ₹ 135 Cr against ₹ 140 Cr
Q4FY24 Financial Highlights
- Total income at ₹ 511 Cr against 596 Cr
- EBITDA at ₹ 57.6 Cr against ₹ 104.5 Cr
- Net profit at ₹ 28.2 Cr against ₹ 65.3 Cr
Operational Highlights
- Completed the Brazilian Health Regulatory Agency (ANVISA) GMP audit of all the 10 APIs manufacturing Units situated at Barnala, Punjab without any observation.
- Approval from the Center for Drug Evaluation (CDE) of the National Medical Products Administration (NMPA), China to export “Metformin Hydrochloride” into China Market
- Received CEP Certificate for Losartan Potassium issued by EDQM which will enable higher export to the European market
- Commenced plant for Acetic Anhydride, for captive consumption as well as merchant sale
- CARE Rating has been reaffirmed to A+ with a stable outlook