IBL Healthcare Limited reported a net profit of PKR 7.56 million (EPS: PKR 0.09) in FY24, marking a significant decline of 98% YoY compared to PKR 308.96 million (EPS: PKR 3.61) in FY23. Revenue for FY24 stood at PKR 3.60 billion, reflecting an 11% YoY decrease from PKR 4.03 billion in the previous year. The decline in sales was primarily attributed to supply chain disruptions and price discounts offered to boost sales during the year.
The revenue breakup for FY24 includes PKR 1.7 billion from Medical Devices, PKR 500 million from the Consumer Business, and PKR 1.4 billion from the Nutrition segment. Management disclosed plans to launch Reckitt Benckiser products by 3QFY25, while confirming that Mead Johnson products will not be launched this year.
Looking ahead, the company anticipates a 50% growth in the Prep-up product line and aims to launch its variants with a sales target of PKR 100 million. For FY25, management has set a sales target of PKR 4.5 billion, supported by expectations of declining inflation. The company plans to focus on high-margin, locally manufactured products and anticipates growth in the nutraceuticals and consumer segments. Launch of new medical devices is also in pipeline. Management expects margins to improve in the upcoming quarters.
Important Disclosures
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