Pharmaceuticals firm Sequent Scientific declares Q3FY22 result: Revenues at Rs 3,580 Million, PAT after minority interest at Rs 171 Million Commenting on the Company’s performance, Manish Gupta, Managing Director stated “Q3 reflects the beginning of a recovery in business across both APIs and formulations. We saw a strong growth in our formulations business, which grew 18.5% on constant currency basis, driven by scale up across our key markets - Brazil, India, and Turkey. On API side, we had strong orderbook & dispatches. However, port congestion challenges impacted ~15% of dispatches, depressing revenues, and thereby overall profitability. While the cost environment continues to be concerning for the industry, our concerted efforts towards price increases have started reflecting in our financial performance and we expect to see full benefit from Q4 FY22. Performance in Turkey in a volatile currency environment is significant. Our robust manufacturing footprint in the country makes us extremely confident of our continuing growth in local and export markets. Overall, we stay extremely confident of our unique, multi-pillar business model and envisage strong recovery in Q4 led by our API business and normalization of performance across revenues and profitability in FY23.” Result PDF
Conference Call with Sequent Scientific Management and Analysts on Q3FY22 Performance and Outlook. Listen to the full earnings transcript.