Q4FY25 another Blockbuster quarter.
Strong Start for the year: Revenue up by 18% YoY, Gross Margin Expands by 418 bps and over 25% YoY increase in EBITDA and PAT.
Q1FY25 Financial Highlights
Operating revenue was Rs. 590.6 cr., up by 18.1% YoY driven by new launches and increase in share with existing customers in the key markets.
Gross profit was Rs. 328.8 cr., up by 27.8% YoY with a Gross margin expansion of 418 bps to 55.7%.
Growth is attributed to softening of raw material prices and a better product mix.
EBITDA was Rs. 128.4 cr. grew by 25.9% with a margin of 21.7%.
EPS grew by 29.3% YoY to Rs. 2.0
Business Highlights
US Market
US & North America Formulation business reported growth of 29.8% YoY to Rs. 250.9 cr. in Q1FY25, on account of incremental revenue from new product launches, and increase in the share of existing customers .
32 products are in the pipeline, of which 20 are oral solids and 12 are ointments and creams. Within
oral solids, 4 are Softgels
UK and Europe Market
Revenue of Rs. 251.5 cr. from the UK and Europe Formulation business in Q1FY25, registering a growth of 11.3%.
Planning for 34 new filings over next three years. In addition, 16 products are already filed and awaiting approval.
Australia and New Zealand Market
Australia and New Zealand business reported revenues of Rs. 65.6 cr. in Q1FY25, which grew by 12.0% YoY, due to incremental market share.
10 products are in the pipeline and expected to be launched over two years.
RoW Market
RoW business reported Rs. 22.7 cr. revenues in Q1FY25
Other Highlights
In Q1FY25, the capex incurred was Rs 31.0 cr. Capex investment is in line with our plan for scaling the acquired manufacturing unit from Teva Pharma in Goa which will drive our future growth.
Cash Balance at the end of 30th June 2024 is at Rs 691 cr.
In Q1FY25, Cash from Operations was at Rs 45.3 cr. and Free Cash Flow was at 14.3 cr.
Research & Development (R&D) spend at Rs.12.0 Cr., 2.0% of consolidated revenue.
Received Market Authorization from UKMHRA for products Levonorgestrel 1.5mg Tablets, Rasagiline
1mg Tablets and Olmesartan 10, 20, 40mg Tablets during the quarter.
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