Neuland Labratories – Q1 concall highlights –
Financial outcomes ( YoY ) –
Sales – 356 vs 221 cr
EBITDA – 99 vs 29 cr ( margins 27 vs 13 pc )
PAT – 62 vs 10 cr
Net Debt at 24 cr vs 160 cr YoY
CMS segment-sales led by commercial molecules. Significant contribution from in the pipeline molecules too
Speciality segment-growth led by Apixaban (anti coagulant)and Paliperidone (anti psychotic)
Prime segment-growth led by Mirtazapine (antidepressant) and Labetalol(BP med)
EBITDA expansion due – improved business mix, lower RM costs and kicking in of operating leverage
Working capital cycle down to 118 vs 141 days YoY
02 NCEs have gone commercial in the recent past (these have improved the company’s growth trajectory)
02 more NCEs are likely to go commercial in next 12-18 months
Receiving increased enquiries from global companies to partner with Neuland for CDMO work
Business to remain lumpy on a Qtr to Qtr basis
Company believes that they have sufficient capacities for next 2 yrs
May have to go for major capex after that, like setting up a unit IV etc
Going fwd, there will be more focus on speciality vs prime molecules
The demand of 02 new NCEs that ve helped company improve its performance in past few Qtrs, looks stable in for the foreseeable future
Disc: core holding. Biased
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