Pharmaceuticals company Neuland Laboratories announced Q4FY23 & FY23 results: Q4FY23: Total Income for Q4FY23 at Rs 415.1 crore (+61.8% YoY) led by growth in Specialty and CMS segment EBITDA for Q4FY23 at Rs 127.8 crore (+224.8% YoY) EBITDA Margin for Q4FY23 at 30.8% (increased by 1550 bps YoY) PAT for Q4FY23 at Rs 84.5 crore (+287.2% YoY) Net Debt stood at Rs 63.0 crore as at Q4FY23 end compared to Rs 212.0 crores as at Q4FY22 end and Rs 72.0 crores as at Q3FY23 end FY23: Total Income for FY23 at Rs 1,200.9 crore (+26.0% YoY) led by growth in Specialty and CMS segment EBITDA for FY23 at Rs 281.1 crore (+94.8% YoY) EBITDA Margin for FY23 at 23.4% (increased by 830 bps YoY) due to a better business mix PAT for FY23 at Rs 163.1 crore (+156.7% YoY) due to a slower increase in depreciation compared to an increase in EBITDA Debt/Equity stood at 0.12x due to the retirement of Rs 113.6 crore borrowings (net) in FY23 Net Debt stood at Rs 63.0 crore as at FY23 end compared to Rs 212.0 crore as at FY22 end Commenting on the performance Sucheth Davuluri, Vice-Chairman and Chief Executive Officer of the Company said, “We crossed several significant milestones in FY23 with business driven by ongoing growth in the high margin Specialty and CMS business. The performance of this fiscal reflects the various initiatives we have taken in line with our strategy over the last few years, playing out now. We believe that this puts us in a strong position as we look to consolidate the healthy momentum going forward.” In addition, Saharsh Davuluri, Vice Chairman and Managing Director, Neuland Labs added “We are happy to state that our focus on R&D; and project management saw us achieve our highest ever profitability margins in FY23. We executed a number of CMS projects during the year resulting in the business recording significant growth and contributing close to half the Q4 revenues. We expect this momentum to continue in the future as well on account of new customers increasingly accepting Neuland as an established CDMO.” Result PDF