Financial Highlights: Revenues at Rs. 3,506 Million PAT after minority interest at Rs. 143 Million PAT margin at 4.1% Commenting on the Company’s performance, Manish Gupta, Managing Director stated “The current quarter though muted compared to corresponding quarter last year, reflects a growth of 10% as compared to the previous quarter. We saw a sharp recovery in our API business, which saw 21% growth vs Q1 FY22 driven by 25%+ growth in API portfolio (ex-Albendazole) while our formulation business continues to deliver consistent growth across geographies. While the cost environment is concerning for the industry, we have initiated concerted efforts to mitigate the impact of the same. We expect these to start reflecting in our margins in the coming quarter with full benefit from Q4 FY22. We are achieving significant progress in expanding our portfolio through value-added arrangements for vaccines in Turkey and India and have recently concluded another long-term agreement with a top-10 animal health company. Despite a challenging first half of the year, we look at the second half of FY22 with increased confidence as we start reaping benefits from our recent initiatives and deliver a near double-digit growth for the business despite a flat API business for the year.” Result PDF
Conference Call with Sequent Scientific Management and Analysts on Q2FY22 Performance and Outlook. Listen to the full earnings transcript.