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
Conference Call with Syngene International Management and Analysts on Q2FY23 Performance and Outlook. Listen to the full earnings transcript.
Pharmaceutical company Syngene International announced Q2FY23 results: Syngene reports second quarter results from revenue from operations up 26% to Rs. 768 crores PAT increased 11% to Rs. 102 crore Jonathan Hunt, Managing Director and Chief Executive Officer, Syngene International Limited, said, "The quarter saw positive performances across all divisions. Our research divisions: Discovery Services, including Synvent, our integrated drug discovery platform, and the Dedicated Centres showed sustained growth. Discovery Chemistry in particular saw buoyant customer demand. Growth in Development Services was led by existing clients renewing contracts and setting up collaborations on additional projects. The highlight in Manufacturing Services was the successful completion of the process performance qualification batches at a commercial scale for Zoetis. We are on track for the next important regulatory audits which will pave the way for the commercial manufacturing of the drug substance for Librela®*, a Zoetis product, from the fourth quarter of FY23. With a strong first half of the year behind us we are on track to achieve our guidance, including the upgraded revenue growth target announced in July.” Result PDF