Unichem Labs reports net loss of ₹44.4 crore Q4FY23

Unichem Laboratories reported a net loss of ₹44.3 crore in the quarter ended in April in FY23. The company had reported a net profit of ₹71.5 crore in FY 22. Company's consolidated net revenue increased by 8.7 per cent to ₹402.1 crore against ₹370 crore in Q4FY22. Its EBITDA margin dropped by 4.1% in Q4FY23 compared to 18.5% in the same quarter in previous financial year.

The company shares were trading marginally higher at ₹372.55 apiece on BSE at 2:22 pm. The company stock value has increased by 20.71% YTD and by 57.53% in last one year. Its market capitalisation stands at ₹57.53 crore on BSE.

The company managed to lower its net loss sequentially. During December quarter, the company had reported a net loss of 64 crore, which reduced by 30 per cent to ₹44.3 core in the quarter under review. On an annual basis, FY23 proved to be a major setback for the company as its net consolidated loss increased to ₹202.2 crore in FY23 from a net profit of ₹33.06 crore in FY22.

Its revenue from operations increased by 8.6% to ₹402.1 crore in the quarter ended in March against ₹370 crore during the same quarter in FY22. On annual basis, its net consolidated revenue stood at ₹1381.5 crore in FY23, which was ₹1,317.3 crore in FY22. 

A month ago, 33.4% stake of Unichem Laboratories were acquired by Ipca for ₹1,034.06 crore. The company had purchased 2,35,01,440 fully paid-up equity shares worth ₹21 each of Unichem Labs. 

‘The board of directors also approved making an open offer to the public shareholders of Unichem Laboratories to acquire from them up to 26% of the fully diluted outstanding equity share capital of the said company at ₹440/- per share totalling ₹805.44 crore,’said the Ipca in its filing.

Unichem was founded in 1944 as a sole proprietorship firm of late Amrut Mody. Since then, the company has expanded its business at global level. Now, the company is known for its international, integrated, specialty pharmaceuticals. It is a dominant market player in the field of generic medicines not only in India but also in countries like the United States of America and Europe.