By: IPP Bureau
Last updated : May 30, 2023 11:21 am
The company reported lifetime high EBIDTA of Rs. 250 crores
Ind-Swift Laboratories Limited (ISLL), one of the largest producer of APIs and Advanced intermediates in North India, has declared its Financial results for the quarter and financial year ended March 31, 2023 .
On an Annual basis ISLL reported a turnover of Rs. 1178.66 crores as on 31st March 2023, as against turnover of Rs. 1016.61 crores as on 31st March 2022, registering a growth of 15.94%. The net profit of the Company rose from the net loss of Rs. 5.71 crores during 2021-22 to net profit of Rs. 42.47 crores during the Financial year 2022-23. The Company closed the financial year with a life time highest EBIDTA level of Rs. 250 crores, up by 5.92% from the EBIDTA of the financial year 2021- 22.
On a Quarterly basis the ISLL reported a turnover of Rs. 294.81 crores during the quarter ended 31st March 2023, as against turnover of Rs. 285.16 crores during the quarter ended 31st March 2022, registering a growth of 4%. The Company has however reported net loss during the quarter of Rs. 30.91 crores as against the net loss of Rs. 63.18 crores during the quarter ended 31% March 2022. The net loss is majorly attributable to the one-time loss on sale of investment during the quarter due to which the company recorded a loss of Rs. 26.64 crores, The Company however reported an EBIDTA of Rs. 61.72 crores during the quarter ended 31% March, 2023, which is very much in line with the performance of the Company for the last 6 to 8 quarters.
Commenting on the results, N.R.Munjal, Chairman and Managing Director of Ind-Swift Laboratories Limited stated that © The year 2022-23 has been a significant year in the history of the Company as the Company reported lifetime high EBIDTA of Rs. 250 crores; the performance of the company had been par excellence.”
Company has seen good demand for its products. The molecules like Clarithromycin, Clarithromycin granules, Fexofenadine, Ezetimibe, Quetiapine Fumerate and Donepezil gave more than 20% growth on an average during the year. The volumes on an overall basis also grew by more than 5%. The Exports of the Company grew by more than 1 9%, from a sum of Rs. 745 crores to Rs. 886 crores. Company exports its products to more than 70 countries across the globe.
Giving overall outlook for the financial year 2023-24, Munjal expressed that “ We expect the overall growth to continue in the current fiscal also and expect the topline and bottomline to grow by 10%-15% .He further explained that presently the Company is reinforcing its position by utilising the additional cash towards reducing its overall debt and that is the reason, the Board has not considered declaring any dividend during the year; going forward we are hopeful to reward the shareholders for their faith and confidence in the management and the company.”