The Shares of this pharmaceutical company experienced a 4.8% surge, reaching ₹26,760.75 per share on Friday, following the announcement of robust Q4 results, which included a dividend of ₹410 per equity share.
At 10:45 a.m., Abbott India Ltd shares were trading at ₹26,180 per share, up 2.42% on the National Stock Exchange from the previous close price. The company has a market capitalization of ₹55,633 crore.
In the quarter ending March 2024 (Q4FY24), Abbott India Ltd reported a consolidated net profit of ₹287 crores, reflecting a 7% increase from the ₹231 crores recorded in Q4FY23. Furthermore, the company witnessed a notable surge in total revenue from operations for the same quarter, reaching ₹1,439 crores, marking a 24% rise compared to the previous year’s corresponding quarter’s revenue of ₹1,343 crores.
In the fiscal year 2023-24, the company’s consolidated net profit surged by 27%, reaching ₹1,201 crores from ₹949 crores in FY22-23. Likewise, the total revenue for the fiscal year increased by 9.4%, reaching ₹5,849 crores compared to ₹5,349 crores in the preceding fiscal year, as stated in the company’s filing.
Abbott India Ltd is one of the leading multinational pharmaceutical companies in India and sells its products through independent distributors primarily within India.
The company board recommended a final dividend of ₹. 410 per equity share and fixed Friday, July 19, 2024 as the Record Date for determining entitlement of Members to Final Dividend for the financial year ended March 31, 2024.
Abbott India Ltd has strong position in the market with a robust and diverse portfolio exceeding 125 products, predominantly catering to chronic medications. The company has plans to introduce approximately 100 new products by FY2024-25.
Moreover, over the past five years, Abbott has demonstrated remarkable financial performance. Despite revenue growth of around 10%, the company’s dividend per share (DPS) surged at a compound annual growth rate (CAGR) of 45%, outpacing profit growth, which stood at 22% over the same period. This underscores Abbott’s commitment to shareholder value.
Additionally, Abbott’s operational proficiency is demonstrated by the increase in its EBITDA margin from 20.9% to 22.9% compared to the preceding year.
In terms of market performance, Abbott India Ltd’s shares have displayed resilience, marking a 10% increase over the past six months and a notable 23% rise over the past year.
Written by Omkar Chitnis
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