Par Drugs and Chemicals Q1 Results Total Income ₹22.61 Crores & Operating Profit ₹3.33 Crores

Par Drugs and Chemicals Q1 Results: Par Drugs and Chemicals showing some changes in its financial performance. The total revenue for June 2024 is ₹22.61 crores, which is a slight decrease of 0.94% QoQ (quarter-on-quarter) from ₹24.49 crores in March 2023. When compared year-over-year (YoY), revenue also dropped by 1.43% from ₹22.93 crores in June 2023. The selling, general, and administrative (SG&A) expenses fell significantly by 28.99% QoQ to ₹1.26 crores from ₹1.56 crores. However, YoY, these expenses increased by 12.37% from ₹1.12 crores.

Par Drugs and Chemicals’ Total operating expenses decreased by 9.41% QoQ, reaching ₹19.27 crores from ₹19.96 crores in the previous quarter, while YoY, they declined by 1.83% from ₹19.63 crores.

Operating income for this quarter is ₹3.33 crores, down 35.96% QoQ from ₹4.53 crores. Year-over-year, it saw a small increase of 0.92% from ₹3.30 crores.

The net income before taxes also decreased by 33.74% QoQ to ₹3.39 crores from ₹4.54 crores, but showed a 2.66% increase YoY from ₹3.30 crores. Overall, the company experienced mixed results in its financial performance, with notable changes in both quarter-on-quarter and year-over-year comparisons.

Here's a table of Par Drugs & Chemicals Q1 results::

(All figures in crores except per share values)

Source: Here 

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Par Drugs and Chemicals Q1 Results

PAR Drugs and Chemicals recently released its financial results for the quarter ending June 30, 2024. The company reported a total revenue of ₹2,267.91 lakhs, which includes money made from operations and other income.

This is slightly lower than the previous quarter's revenue of ₹2,277.13 lakhs. The company's expenses, which cover costs like materials, employee salaries, and other operational costs, totaled ₹1,929.41 lakhs. This shows an increase from ₹1,766.24 lakhs in the previous quarter.

The profit before tax for this quarter was ₹338.50 lakhs, down from ₹510.89 lakhs in the last quarter, indicating that the company earned less before paying taxes. After accounting for tax expenses, which were ₹85.19 lakhs for current tax and nothing for deferred tax, the profit from continuing operations was ₹253.31 lakhs.

This is lower than the ₹371.94 lakhs profit reported last quarter. The company's paid-up equity share capital remained stable at ₹1,230.46 lakhs. Overall, while the company still made a profit, the decrease in revenue and profit compared to the previous quarter suggests some challenges in its operations.

Here’s a simplified summary of the standalone audited financial results for PAR Drugs and Chemicals for the quarter ended June 30, 2024:

(Rs. in Lakhs)

Par Drugs and Chemicals Stock Metrics

Par Drugs and Chemicals is a company with a market cap of ₹295 crore, indicating its total value in the stock market. The current stock price is ₹240, with a high of ₹325 and a low of ₹190 in recent trading. The Stock Price-to-Earnings (P/E) ratio is 20.3, showing how much investors are willing to pay for each unit of earnings. The book value per share is ₹69.6, reflecting the company's net worth.

Here’s the financial information you provided in a simple table format:

Quarterly Results 

The Par Drugs and Chemicals table for Dec 2023, Mar 2024, and Jun 2024 shows the company’s financial performance over these quarters. In December 2023, sales were ₹24.00 crores, with expenses of ₹18.77 crores, resulting in an operating profit of ₹5.23 crores. The operating profit margin (OPM) was 21.79%. By March 2024, sales decreased slightly to ₹22.82 crores, but the operating profit increased to ₹6.10 crores, improving the OPM to 26.73%. 

Here’s the table for the quarters Dec 2023, Mar 2024, and Jun 2024, along with the particulars:

(Figures in Rs. Crores)

About Par Drugs and Chemicals

Par Drugs and Chemicals is a company founded in 1982 by Mr. V. J. Savani. It is now run by his sons, Mr. Falgun V. Savani, Mr. Jignesh V. Savani, and Mr. Ghanshyam B. Savani. The company specializes in making Active Pharmaceutical Ingredients (APIs), which are essential for producing medicines in various forms like capsules and tablets. Par Drugs focuses on antacid molecules and has a wide range of 18 APIs and 10 fine chemicals. Their manufacturing facility is located in Bhavnagar, Gujarat, and is certified by the Food & Drugs Control Administration, ensuring that their products meet strict quality standards. 

The Bhavnagar facility has four production blocks, allowing the company to produce different products efficiently. In recent years, Par Drugs has expanded its operations, adding new manufacturing blocks to increase production capacity. They are committed to maintaining high safety standards in their manufacturing processes and have an in-house testing laboratory to ensure product quality. Par Drugs aims to build strong, long-lasting relationships with its customers and continually seeks new business opportunities to grow and succeed in the pharmaceutical industry.