- Guidance: R&D expenditure for FY24 is expected to be ~8% of revenue. EBITDA margin is expected to be at ~23% in FY24. The company would target to launch three new transdermal from the Moraiya site. Going ahead, it would continue to witness price erosions in the US market by low single digit. In India, it would continue to evaluate brand acquisition in order to fulfill the growth prospects. Revlimid volumes are expected to increase for the next 2 years. Africa and Europe business had a strong double-digit growth in Q1 due to good performance across the board in the branded business.
- US formulations business showed revenue growth and volume expansion. Received 28 new product approvals (incl. 5 tentative approvals) and launched 8 new products. 78 ANDAs pending approval with the USFDA. Single digit growth is expected in US for FY24.
- Indian formulations business saw 12% growth. Domestic market is expected to grow between 9-12% in FY24.
- Consumer Wellness business continued to maintain leadership position in key brands despite softer consumer demand. Urban demand was higher than rural demand. Recovery expected to increase now in rural areas.
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