Conference Call with Syngene International Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.
Pharmaceuticals company Syngene announced Q4FY23 & FY23 results: Q4FY23: Q4FY23 revenue from operations was up 31% to Rs 994 crore PAT is up 21% to Rs 179 crore FY23: FY23 revenue from operations up 23% to Rs 3,193 crore PAT before exceptional items up 10% to Rs 464 crore The dividend of 50 paisa per share and special additional dividend of 75 paisa per share will be subject to shareholders approval at the Annual General Meeting of the Company. Commenting on the results, Jonathan Hunt, Managing Director and Chief Executive Officer, Syngene International, said, “Strong growth in the fourth quarter, added to a positive performance over the course of the year, delivered full-year results ahead of our upgraded guidance. All business divisions delivered growth through the year triggering investment in additional laboratory capacity and new facilities at our campuses in Bangalore and Hyderabad, as well as creating over 1000 new jobs. Manufacturing Services had a particularly strong year, led by our commercial-scale biologics manufacturing business which had a busy fourth quarter supporting our partnership with Zoetis, following successful regulatory inspections by the US, European and UK regulatory authorities. Looking ahead, we are optimistic - despite challenges such as inflation, geopolitical uncertainties and recessionary pressures visible in some regions of the world - that our performance over the last year and the progress we have made on the strategic development of the Company, position us well for the year ahead.” “I am pleased to report a strong performance throughout the year, including our biggest-ever quarter to finish this fiscal year. Our robust business model, broad customer base and strong balance sheet, combined with a tight focus on execution, enabled us to deliver revenue growth of 23% year-on-year, margins at around 30% and increased net cash of Rs 224 crores As a result, in this fiscal year, the Company delivered the highest absolute year-on-year increase in revenue and EBITDA that we have seen in the last 5 years, providing a strong foundation for our future plans” added Sibaji Biswas, Chief Financial Officer, Syngene International Result PDF
Pharmaceuticals firm Syngene International announced Q3FY23 results: Q3FY23: Total Revenue Rs 8,031 million Reported EBITDA Rs 2,482 million Profit After Tax Rs 1,097 million EBITDA Margin at 30.9% and PAT Margin at 13.7% Commenting on the results, Jonathan Hunt, Managing Director and Chief Executive Officer, Syngene International Limited, said, "We continue to see good demand in the main client markets of US and Europe which - combined with strong execution and forward planning - has helped us deliver solid revenue growth in the third quarter. We are pleased to report positive performances from all divisions this quarter. Growth in our research divisions, Discovery Services and the Dedicated Centres, was solid. In Development Services, repeat orders from existing clients, as well as an increase in the number of collaborations with emerging biopharma companies drove a robust performance. In Manufacturing, the highlight of the quarter was the successful inspection of our biologics facilities by the US FDA, EMA and MHRA. With Good Manufacturing Practice (cGMP) certifications from the regulatory agencies in place, the Company is well positioned to fulfil its long-term contract with Zoetis and progress its biologics growth strategy. Based on our strong performance to date, we are confident of meeting the upgraded annual revenue growth guidance of high teens.” Sibaji Biswas, Chief Financial Officer, Syngene International Limited added, “Overall financial performance for the nine months ending 31st December 2022 was in line with our upgraded guidance and, with strong underlying revenue growth and stable margin delivery, we are on track to achieve our guidance for the year. In line with the global trend, we are also facing inflationary pressures, but we have been largely successful in navigating such issues to date and we remain confident about the positive future potential for our business.” Result PDF