Pharmaceuticals company Zydus Lifesciences announced Q3FY24 & 9MFY24 results: Consolidated Q3FY24: - Revenue from operations stood at Rs 45,052 million, marking a 6% increase from the previous year. - EBITDA for the quarter was reported at Rs 11,024 million, up 15% YoY, with an EBITDA margin of 24.5%, an increase of 200 basis points (bps) YoY. - Research & Development (R&D;) investment was Rs 3,146 million, representing 7.0% of revenues. - The Net Profit for the quarter noted a significant rise of 27% YoY reaching Rs 7,896 million. - Organic capital expenditure (Capex) for the quarter amounted to Rs 2,137 million. Consolidated 9MFY24: - Revenue from operations reached Rs 140,136 million, up by 15% compared to the last year. - EBITDA for 9MFY24 stood at Rs 37,538 million indicating a 44% YoY increase. EBITDA margin was 26.8%, improving by 550 bps over the previous year. - Research & Development (R&D;) investment over nine months was Rs 9,580 million, equivalent to 6.8% of revenues. - Net Profit surged by 61% YoY to Rs 26,772 million. - Organic Capex for the nine months was Rs 6,502 million. Business Segment Performance – Q3FY24 - India Geography: Reported revenue of Rs 18,247 million with an 11% YoY growth. - US Formulations: Registered revenue of Rs 18,427 million, experiencing a slight decline of 4% YoY. - Emerging Markets & Europe Formulations: Noted revenue of Rs 4,937 million, a substantial growth of 31% YoY. - API Business: Revenue was at Rs 1,431 million, down by 24% YoY. - Alliances & Others: Reported a sharp revenue increase of 59% YoY, reaching Rs 395 million. Share Buyback - Zydus Lifesciences announced a share buyback worth Rs 6000 million, representing 0.59% of total outstanding equity shares for Rs 1,005 per share, which is a 25% premium over the closing price as of February 8, 2024. Dr. Sharvil Patel, Managing Director of Zydus Lifesciences, said, "We are pleased with our Q3FY24 performance, particularly with a strong recovery in the domestic formulations business and a resilient US base business. Importantly, our journey of sustained profitability improvement continues and we hope to sustain the same. We are optimistic about our growth prospects driven by a differentiated portfolio in the US, and the continued performance of key brands, well supported by a robust execution engine. We remain on track to end the fiscal year 2024 with a healthy double-digit revenue growth and expect to improve EBITDA margins to 27% plus levels." Result PDF
Pharmaceuticals company Zydus Lifesciences announced Q2FY24 & H1FY24 results: Q2FY24: Revenue from operations at Rs 43,688 million, up 9% over last year. Research & Development (R&D;) investments for Q2FY24 stood at Rs 3,225 million (7.4% of revenues). EBITDA for Q2FY24 was Rs 11,461 million, up 41% YoY. EBITDA margin for Q2FY24 stood at 26.2%, an improvement of 580 bps on a YoY basis. Net Profit for Q2FY24 was Rs 8,007 million, up 53% YoY. Capex (organic) for Q2FY24 was Rs 2,162 million. H1FY24: Revenue from operations at Rs 95,084 million, up 19% over last year. Research & Development (R&D;) investments stood at Rs 6,464 million (6.8% of revenues). EBITDA was Rs 26,514 million, up 61% YoY. EBITDA margin stood at 27.9%, an improvement of 720 bps over the previous year. Net Profit was Rs 18,876 million, up 81% YoY. Capex (organic) for H1FY24 was Rs 4,365 million. "Our Q2 FY24 result represents stable growth in our key businesses, as well as strong profitability. We are on track to meet our growth objectives for the year. Going ahead, differentiated launches in the US, in addition to a rebound in India business growth which was constrained by delayed seasonality, will be critical drivers. We anticipate sustained momentum in profitability and aim for EBITDA margins of more than 24% in the current fiscal year.", said, Dr. Sharvil Patel, Managing Director, Zydus Lifesciences. Result PDF
Pharmaceuticals company Zydus Lifesciences announced Q1FY24 results: Revenue from operations at Rs 51,396 million, up 30% over last year. Research & Development (R&D;) investments for Q1FY24 stood at Rs 3,239 million (6.3% of revenues). EBITDA for Q1FY24 was Rs 15,053 million, up 81% YoY. EBITDA margin for Q1FY24 stood at 29.3% which is an improvement of 830 bps on a YoY basis. Net Profit for Q1FY24 was Rs 10,869 million, up 110% YoY. Capex (organic) for Q1FY24 was Rs 2,203 million. Dr. Sharvil Patel Managing Director, Zydus Lifesciences, said, "We are delighted to deliver strong performance during the quarter with broad based operational growth in our key businesses and a favourable product mix enhancing our profitability. Strong execution and volume offtake drove revenue ramp-up in the US, while the India branded formulations business. adjusting for NLEM impact delivered solid 12% growth. We remain reassured of achieving profitable growth aspirations for the fiscal year and thereby enhancing stakeholder value. Our persistent commitment to maintaining high-quality standards and pursuing innovation will boost our sustainable growth prospects." Result PDF