Conference Call with Torrent Pharmaceuticals Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.
Torrent Pharmaceuticals announced Q3FY23 results: Revenue at Rs 2,491 crore, up by 18% Gross margins: 71%; Op EBITDA margins: 29.1% Op EBITDA at Rs 724 crore, up by 35% Net profit after tax at Rs 283 crore, up by 14% India: India revenues at Rs 1,259 crore grew by 17% and included revenue from the integration of Curatio Healthcare As per AIOCD secondary data, Torrent’s growth for the quarter was 12% vs IPM growth of 12% Field force has been further expanded and MR strength now stands at 5,300, including Curatio divisions For YTD Dec FY23, revenues were Rs 3,728 crore, up by 15% Brazil: Brazil revenue at Rs 248 crore, up by 36% Constant currency revenue at Rs 159 million, up by 17% As per secondary data set, Torrent’s growth is 19% vs BGx market growth of 13% for the quarter ended in November 22 Growth was aided by performance of top brands and market share gain and strong momentum in the generic segment For YTD Dec FY23, revenues were Rs 617 crore, up by 26% (Constant currency revenue: Rs 397 million, up by 12%) Germany: Germany revenue at Rs 241 crore up by 1% Constant currency revenue was Euro 29 million, up by 4% Sequential recovery in Germany complemented by new tenders and growth of OTC segment For YTD Q3FY23, revenues were Rs 675 crore, down by 10% (Constant currency revenue: Euro 82 million). United States: US revenue at Rs 291 crore, up by 24% Constant currency revenue at US$ 35 million, up by 13% As on December 31, 2022, 48 ANDAs were pending approval with USFDA and 3 tentative approvals were received. During the quarter, 1 ANDAs was filed & 1 ANDAs was approved For YTD Dec FY23, revenues were Rs 882 crore, up by 12% (Constant currency revenue: US$ 111 million, up by 5%) Result PDF