IOL Chemical Q4 PAT down 17% YoY

IOL Chemicals & Pharmaceuticals reported 17% drop in net profit to Rs 75 crore on 4% rise in total revenue from operations to Rs 467 crore in Q4 FY21 over Q4 FY20.

EBIDTA declined 18% to Rs 117 crore in Q4 FY21 compared with Rs 142 crore in Q4 FY20. Profit before tax in the fourth quarter stood at Rs 106 crore, down 18% from Rs 130 crore in the same period last year.

The company reported 23% rise in net profit to Rs 445 crore on 4% increase in total revenue from operations to Rs 1,991 crore in FY21 over FY20.

Dr Sanjay Chaturvedi, chief executive officer, said: "The company completed the installation of new manufacturing facilities Unit VIII to manufacture Ibuprofen derivatives and other pharma (APIs) products."

Dr Chaturvedi further informed that the company has increased the manufacturing capacity of Ethyl Acetate from 87,000 MTPA to 1,00,000 MTPA.

Talking about future projects, he added that the company is in the process of setting up of two new manufacturing facilities 'Unit - IX' for manufacturing Gabapentin & other pharma (APIs) products; and 'Unit - X' for multiple pharma (APIs) products. These units are being installed at the company's existing plant site at Barnala (Punjab) through internal accruals only and the installation of these units are running as per schedule.

IOL Chemicals & Pharmaceuticals is a pharmaceutical (APIs) company. It has wide presence across major therapeutic categories like, pain management, anti-convulsants, antidiabetes, anti- cholesterol and anti-platelets.

The scrip fell 1.99% to end at Rs 700.20 on Friday. In the past one month, the stock has added 17.95% while the benchmark Sensex has gained 7.97% during the same period.

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