Conference Call with Sequent Scientific Management and Analysts on Q1FY22 Performance and Outlook. Listen to the full earnings transcript.
Revenues at Rs 3,205 Million up by 8.6%, Operating EBITDA at Rs 358 Million Commenting on the Company’s performance, Manish Gupta, Managing Director stated “The quarter gone by has indeed been the most challenging one, both from demand and execution perspective. We are pleased to report an over 15% growth in our formulations business even as our API business reported a de-growth after many quarters of consistent growth. We reported revenues of Rs 320 Crores for the quarter, reflecting a growth of 8.9% YOY on constant currency basis while the EBITDA stood at Rs 35.8 Crores excluding ESOP costs. On the business side, we are pleased with continuing strong growth in the key markets of India & LATAM, and we expect improved performance in Europe and Turkey going forward. We shall continue to invest both in expanding our footprints as well as strengthening our presence in existing markets. We expect strong recovery in our API business in the second half. Our strategy for API business continues to play out well as we continue to improve the quality of business with ever increasing contribution of regulated markets business, which now stands at 72% vs. 66% last year. Despite a slower start to the year, we stay confident and on track of achieving our financial and strategic objectives for the year.” Result PDF