Pharmaceuticals company Neuland Laboratories announced Q1FY24 results: Total Income of Rs 365.0 crore in Q1FY24 compared to Rs 221.7 crore in Q1FY23, up 64.7% YoY EBITDA of Rs 99.3 crore in Q1FY24 compared to Rs 29.0 crore in Q1FY23, up 242.5% YoY EBITDA margin of 27.2% in Q1FY24 compared to 13.1% in Q1FY23 , up 1,410 bps YoY PAT of Rs 62.2 crore in Q1FY24 compared to Rs 9.8 crore in Q1FY23, up 532.3% YoY PAT margin of 17.0% in Q1FY24 compared to Rs 4.4% in Q1FY23, up 1,260 bps YoY EPS (Basic) of Rs 48.5 in Q1FY24 compared to Rs 7.7 in Q1FY23, up 532.3% YoY Commenting on the performance Sucheth Davuluri, Vice-Chairman and Chief Executive Officer of the Company said, “The performance this quarter is in line with our plan and is a good indicator of the business momentum within the organization. The high YoY growth had contributions from all three segments and the EBITDA margin improvement of 1,410 bps on a YoY basis reflects the change in business mix as well as operating leverage playing out. We continue to be watchful on balancing growth with profitability by having a continuous focus on cost optimization and efficient operations to capitalise on opportunities which we believe will bring us greater scale over the long term.” In addition, Saharsh Davuluri, Vice Chairman and Managing Director, Neuland Labs added, “CMS growth in Q1FY24 was driven by recently commercialized molecules as well as molecules in the pipeline. We expect more molecules to be commercialized in the medium term which will drive our future growth. We saw a couple of more milestones in terms of our regulatory track record as Unit 3 was successfully inspected by the US FDA and we had Unit-1 being audited by EDQM. While the external environment remains uncertain with funding of early-stage molecules being affected, we remain cautiously optimistic about our future growth given the strength of our portfolio.” Result PDF
Conference Call with Neuland Laboratories Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.
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
Conference Call with Neuland Laboratories Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.
Conference Call with Neuland Laboratories Management and Analysts on Q4FY22 Performance and Outlook. Listen to the full earnings transcript.
Pharmaceuticals firm Neuland Laboratories declares Q4FY22 result: Neuland FY22 income at Rs.953.2 crore EBITDA at Rs. 144.3 crore Commenting on the performance Mr. Sucheth Davuluri, Vice-Chairman and Chief Executive Officer of the Company said, “The past financial year was marked by a flat revenue, owing principally to weak GDS offtake from our customers. Given our focus on building execution excellence, we remain confident about the long-term prospects of all our businesses despite facing certain technical issues with some late-stage CMS projects.” In addition, Mr. Saharsh Davuluri, Vice Chairman and Managing Director, Neuland Labs added “Our performance this year was a mixed bag. While our GDS business experienced a revenue decrease due to volume drop in certain key products, our input cost structures experienced an unusual increase. Given our focus on delivering complex projects in line with clients’ technical requirements, we retain our optimism that the overall business will grow in line with our stated expectations and reflect increased margins over the long term.” Result PDF