Equity Analysis

Corporate Results - Detailed News
Pfizer
28-Jul-21   20:54 Hrs IST
For the quarter ending june 2021, consolidated Net sales (including other operating income) of Pfizer has increased 45.50% to Rs 749.17 crore compared to quarter ending june 2020 

Operating profit margin has jumped from 36.18% to 38.14%, leading to 53.38% rise in operating profit to Rs 285.74 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 13.76% to 12.92%.   Purchase of finished goods cost fell from 22.90% to 22.19%.   Employee cost decreased from 16.13% to 12.90%.   Other expenses rose from 12.23% to 12.93%.   

Other income fell 28.84% to Rs 12.24 crore.  Provision for interest fell 25.25% to Rs 2.25 crore.  

Provision for depreciation down 0.52% to Rs 27 crore.  

Profit before tax grew 55.03% to Rs 268.73 crore.  Provision for tax was expense of Rs 68.82 crore, compared to Rs 48.89 crore.  Effective tax rate was 25.61% compared to 28.20%.

Profit after tax rose 60.63% to Rs 199.91 crore.  

Promoters' stake was 63.92% as of 30 June 2021 ,compared to 63.92% as of 30 June 2020 .  

Full year results analysis

Net sales (including other operating income) of Pfizer has increased 4.04% to Rs 2,238.55 crore.  

Operating profit margin has jumped from 26.61% to 31.81%, leading to 24.37% rise in operating profit to Rs 712.12 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 15.78% to 15.05%.   Purchase of finished goods cost fell from 22.11% to 20.17%.   Employee cost decreased from 16.66% to 16.23%.   Other expenses fell from 19.29% to 16.53%.   

Other income fell 55.92% to Rs 81.12 crore.  Provision for interest up 39.26% to Rs 15.11 crore.  Loan funds stood at Rs 2.50 crore as of 31 March 2021 to Rs 2.50 crore as of 31 March 2020.  Inventories rose to Rs 435.05 crore as of 31 March 2021 from Rs 430.59 crore as of 31 March 2020.  Sundry debtors were lower at Rs 129.69 crore as of 31 March 2021 compared to Rs 172.03 crore as of 31 March 2020.  Cash and bank balance declined from Rs 2,219.87 crore as of 31 March 2020 to Rs 1,115.10 crore as of 31 March 2021.  

Provision for depreciation rose 5.98% to Rs 109.41 crore.  Fixed assets declined from Rs 246.23 crore as of 31 March 2020 to Rs 224.70 crore as of 31 March 2021.  Intangible assets declined from Rs 727.39 crore to Rs 672.36 crore.  

Profit before tax grew 4.08% to Rs 668.72 crore.  Provision for tax was expense of Rs 171.11 crore, compared to Rs 133.36 crore.  Effective tax rate was 25.59% compared to 20.76%.

Profit after tax fell 2.26% to Rs 497.61 crore.  

Promoters' stake was 63.92% as of 31 March 2021 ,compared to 63.92% as of 31 March 2020 .  

Cash flow from operating activities increased to Rs 427.33 crore for year ended March 2021 from Rs 323.18 crore for year ended March 2020.  Cash flow used in acquiring fixed assets during the year ended March 2021 stood at Rs 17.70 crore, compared to Rs 16.88 crore during the year ended March 2020.

Pfizer : Standalone Results

 

Quarter endedYear ended
Particulars202106202006Var.(%)202103202003Var.(%)
Net Sales (including other operating income)749.17514.8945.52,238.552,151.654.04
OPM (%)38.1436.18196 bps31.8126.61520 bps
OP285.74186.2953.38712.12572.5624.37
Other Inc.12.2417.2-28.8481.12184.02-55.92
PBIDT297.98203.4946.43793.24756.584.85
Interest2.253.01-25.2515.1110.8539.26
PBDT295.73200.4847.51778.13745.734.34
Depreciation2727.14-0.52109.41103.245.98
PBT268.73173.3455.03668.72642.494.08
PBT before EO268.73173.3455.03668.72642.494.08
EO Income00-00-
PBT after EO268.73173.3455.03668.72642.494.08
Taxation68.8248.8940.76171.11133.3628.31
PAT199.91124.4560.63497.61509.13-2.26
P/(L) from discontinued operations net of tax00-00-
Net profit after discontinued operations199.91124.4560.63497.61509.13-2.26
EPS (Rs)*43.727.260.63108.77111.29-2.26
Notes
* EPS is on current equity of Rs 45.75 crore, Face value of Rs 10, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database

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