Syngene International –

Q4 FY 24 results and concall highlights –

Revenues – 917 vs 994 cr
EBITDA – 317 vs 314 cr ( margins @ 35 vs 32 pc )
PAT – 189 vs 179 cr ( due lower tax outgo on account of tax reversal from previous FY )

For full FY 24 –

Revenues – 3490 vs 3193 cr
EBITDA – 1014 vs 942 cr
PAT – 510 vs 464 cr

Fourth Qtr performance was lower than expected – driven by reduced demand for research and development services within US biotech stemming from a weak funding environment. This – however is showing signs of recovery. According to Jeffries, $ 23 billion fresh funding went into US’s biotech sector in last 12 weeks

Cash flow from operations was very strong @ 1042 cr for FY 24. This cash flow fully funded the capex and acquisition of biologics manufacturing plant of Stellis Biopharma

Increased wind / green energy usage is helping the company save a lot of money on power and fuel costs

Capex for FY 24 stood at Rs 455 cr. Plus the company acquired Stellis Bio’s plant for 700 cr

Expect a high single digit to low double digit topline growth for FY 25. Most of the growth is likely to be back ended ie in H2 FY 25. This growth guidance includes ramp up in Mangalore API facility. However, the Stellis’s manufacturing facility ramp up is not expected in FY 25

Capex for FY 25 expected to be around Rs 500 cr – 60 pc towards discovery services and 40 pc towards CDMO services

J Hunt ( CEO ) said – he can literally sense that big Pharma is diversifying away from China – both for discovery and CDMO services. Moving away development and manufacturing from one geography to another is far more difficult vs moving away discovery services

Company is supplying the drug – Liberla to Zoetis. Its a 10 yr contract for supply @ $ 50 million / yr

Seeing increasing visits / enquiries from global Pharma majors towards Indian CDMO / Drug discovery companies over last 12 months – in a move away from China

Disc: holding since 2022, biased, not SEBI registered

One of the way:
Take price from the chart for the date of interest and multiply that with current share count.

From screener.in, I could only get the current market cap of a company. Is it possible to get the historical market cap (say, the last 5 years as on March 31st)? While few companies, like Infosys, mention it explicitly in their annual report, others, like TCS and HCL, do not. I have browsed through other sites like BSE, NSE, but with no luck. thanks.

Highlights of Q4 & FY24:

• FY24:
  • Increasing demand translating into revenue growth in the latter part of the year.
  • Stelis Biopharma
    • The repurposing of acquired facility expected to complete in the second half of 2024
    • The facility will offer production of both drug substance and drug product
  • Continue to invest in
    • SynVent – covering a range of therapeutic areas including oncology, gene therapy, central nervous system (CNS) and pain management for use in human and animal health
    • Syn.AI – expanded to enable it to identify the most effective drug targets for combating disease by enhancing its target identification and validation packages
  • Sibaji Biswas promoted from CFO to Chief Financial Officer and Executive Director
  • Expect FY25
    • Sales growth of high single digits to low double digits
    • EBITDA margin to be similar
    • PAT growth in single digits
• Q4FY24:
  • A new capability for purifying and separating chiral compounds and HPAPIs (Highly Potent Active Pharmaceutical Ingredients) used for cancer
  • Q4 Performance was lower than expected due to reduced demand for R&D services within US biotech stemming from a difficult funding environment, and is recovering