Revenue from Operations stood at 2731 crores from 2003 crores a 36% rise YOY & 25% rise QOQ
Expenses stood at 2139 crores from 1470 crores rising 46% YOY & a 13% QOQ
EBITDA stood at 640 crores from 577 crores rising 11% YOY & 90% QOQ
EBITDA Margin stood at 23% from 29% YOY declining 6% YOY & rising 8% QOQ due to higher cost of raw materials YOY & inventory net realizable value provisioning as well with around 38 crores being a one-off
PAT stood at 468 crores from 422 crores rising 11%YOY & 95% QOQ
PAT margin stood at 17% from 21%, a decline of 4% YOY & a rise of 6% QOQ due to higher employee cost & the company increasing its basic pay from 37% to 42% of CTC & higher another expense cost.
R&D expenses in the quarter were ₹ 120 crores at 4.3% of revenue from operations with around 12% to 14% spent on biosimilars
Healthy Balance Sheet with net cash of ₹ 980 crores as of June 30, 2021
Free cash flow stood at 450 crores as of 30th June 2021
India sales contributed 70.7% to total sales in Q1FY22 and stood at 1909 crores from 1155 crores, a growth of 65%
In Q1FY22, the Company’s secondary sales grew by 61.1% YoY compared to the Indian Pharma Market growth of 39.2% YoY
Growth was mainly led by acute therapies like anti-infectives, vitamins/minerals/nutrients, gastrointestinal and pain management segment
The Company also outperformed in chronic therapies like neuro / CNS, cardiac, anti-diabetes, and derma during the quarter
Company’s Trade Generic business delivered a robust growth during the quarter
US sales contributed 22.4% to total sales in Q1FY22 and stood at 604 crores a decline of 9% YOY
During the quarter, the US business registered sequential growth of 11.2% over Q4FY21
In Q1FY22, the Company filed 2 ANDAs with the US FDA and received 5 final approvals
The company has also signed a few important licensing and supply agreements in the biotech space worth 100 Crores.
As on June 30, 2021, the Company has filed a total of 154 ANDAs (including 2 NDAs) with the US FDA and has received 114 approvals (including 15 tentative approvals and 2 NDAs)
ST Louis Formulations Facility has received 2 observations & the company has sent a detailed response regarding the same
The US FDA had also conducted a remote and virtual Bio-Analytical inspection of the Company’s Bioequivalence Center located at Taloja, Maharashtra from 26th to 28th July 2021. At the end of the inspection, no Form 483 was issued
15% to 16% growth guidance for the next two-three years driven largely by new launches in US markets is broadly maintained by the management
Other International Market sales contributed 6.9% to total sales in Q1FY22 and stood at 186 crores from 118 crores a rise of 56% YOY
The Company has a presence in Australia, Europe, South East Asia, Latin America, Africa, and CIS. Key markets like Australia, Chile, the Philippines, Kazakhstan, and UK registered healthy growth during the quarter
The company has made an overall investment of 650 crores in Biosimilars
The company has experienced higher selling & distribution cost with particularly high freight cost for international business
Price deflation has been experienced by the company in the US with particularly high deflation in Covid Products
The company has around 11000 MRs
The company currently as of now is not keen on Mergers & Acquisitions as per the management
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