Divis Lab Q4 PAT rises 29% YoY to Rs 502 cr

On a consolidated basis, Divi's Laboratories posted a 29.3% rise in net profit to Rs 502.02 crore in Q4 FY21 compared with Rs 388.23 crore in Q4 FY20.

Net sales increased 28.7% year on year to Rs 1,788.19 crore in Q4 FY21 as against Rs 1,389.71 crore in Q4 FY20. Profit before tax stood at Rs 669.49 crore in Q4 FY21, up 42.2% over Rs 470.96 in Q4 FY20.

The drug major reported a forex gain of Rs 3 crore in Q4 FY21 compared with forex gain of Rs 57 crore in Q4 FY20.

For the financial year ended 2020-21, Divi's Laboratories reported a consolidated total income of Rs 7,032 crore as against Rs 5,584 crore during the previous year, reflecting a growth of 26%. Profit after tax for the year amounted to Rs 1,984 crore as against Rs 1,377 crore reported last year, reflecting a growth of 44%.

During the financial year 2020-21, the company capitalised assets of Rs 1,183.51 crore, and an amount of Rs 710.62 crore is carried forward as capital work-in-progress at the end of the year. The new brownfield DC and DCV SEZ units and the debottlenecking / backward integration programs taken up by the company during the last year, have become fully operational during the year. Modernization and upgradation of waste water treatment plants at the manufacturing sites has been implemented. During the year, the company took up another capex program with an estimated investment of Rs 400 crore for fast-tracking a customs synthesis project. A part of the project has been completed and became operational and the rest of the capex will be completed during early part of the next financial year

The board has proposed a dividend of Rs 20 per share for the financial year ended 2020-21.

Divis Laboratories is the leading manufacturer of APIs (Active pharmaceuticals ingredients), intermediates and registered starting materials offering high quality products with the highest level of compliance and integrity to over 95 countries.

Shares of Divi's Laboratories were up 0.52% at Rs 4,137.95 on BSE.

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