PI Health Sciences Financial Overview
Robust performance in 9MFY24 despite challenging times
Testament to resilient business model and execution capabilities
Fig in Rs. Million
9MFY23
9MFY24
% YOY
Revenue
49,264
59,248
20%
Gross Margin
45%
49%
337 bps
Overheads
10,383
13,177
27%
EBITDA
12,049
15,810
31%
EBITDA as % of
24%
27%
223 bps
Revenue
Net Profit
9,490
13,120
38%
31%
38%
29%
-7%
Mn
Mn
15,810
12,049
37,490
48,269
Exports
9MFY23
11,774
10,979
Domestic
9MFY24
EBITDA
9MFY23
13,120
9,490
PAT
9MFY24
1 Pharma: Pl Health Sciences Ltd. ("PIHSL") Consolidated including overseas subsidiaries
Pi
Inspired by Science
Overall 20% Y-o-Y revenue growth
22% growth in Agchem Exports over a high base mainly on account
of scale-up of existing products and introduction of 4 new products.
Growth comprises volume growth of ~21% and ~1% from price,
currency and favourable product mix.
Newly acquired Pharma¹ contributed to remaining Exports revenue
of Rs. 2,434 million i.e. ~7% of total Exports revenue growth.
Domestic segment remained subdued due to erratic monsoon and El
Niño conditions which led to long dry spells impacting insecticide and
herbicide sales in certain geographies. However focused efforts were
made to improve product mix by launching new brands and
improving working capital efficiency.
Overheads increase attributable to the newly acquired Pharma
businesses (~13%) and balance (~14%) to scale-up of Exports and
promotion expenses for the launch of the new products.
Overall favorable product mix and significant increase in operating
leverage reflected in improvement in EBITDA margin to 31%.
Net profit improved by 38% Y-o-Y attributable to EBITDA growth, low
ETR.
Cash flow from operating activities increased 16% to Rs. 11,561
million and Rs 12,889 million excluding Pharma¹ (9MFY23 Rs. 9,951
million).
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