Syngene International Ltd. share price target

Revenue breakup: Discovery services (35%): FTE engagements with high renewability; Dedicated services (32%): Long-term strategic alliances that last usually five years or more, Development and manufacturing (33%): FFS...

Revenue breakup: Discovery services (35%): FTE engagements with high renewability; Dedicated services (32%): Long-term strategic alliances that last usually five years or more, Development and manufacturing (33%): FFS...

With elite client additions like Amgen, Zoetis, Herbalife, GSK, etc, and multiple year extension of BMS, Baxter contracts, the company remains well poised to capture opportunities in the global CRO space...

Long standing multi-year client relationships with 25% of 360+ clients associated with Syngene for more than 5 years. Capex ramp up in core business (Discovery, Development, RnD) to...

Revenues grew at ~16% CAGR in FY16-20 to | 2012 crore due to new client addition on a regular basis and scaled up revenues from existing clients led by integrated service offerings, high data integrity ethos and continuous endeavour to move up the value chain. Eight of the top 10 global pharma companies have been availing services for the last five years. It has a pool...

Revenues grew at ~16% CAGR in FY16-20 to | 2012 crore due to new client addition on a regular basis and scaled up revenues from existing clients led by integrated service offerings, high data integrity ethos and continuous endeavour to move up the value chain. Eight of the top 10 global pharma companies have been availing services for the last five...

In addition to CRAMS (Syngene)/Biosimilars, BIOS is building another lever i.e. Small molecules for growth over the next 4-5 years. Revenue increased 13% YoY to INR17.5b (in-line) in 3QFY20, mainly led by strong growth in Biologics (+31% YoY; 34% of sales) and Small Molecules Research Services (30% of sales) grew 11% YoY to INR5.2b. Aspart BLA is likely to Gross margin is likely to improve in the coming quarters with ramp up in production of Pegfilgrastim and better traction in Trastuzumab. Over FY19-22, we expect earnings CAGR of 28%, led by a CAGR of 36% in Biologics and 17% in Small molecules, with a 360bp margin improvement. Further, Syngene is well positioned to move from contract research to contract manufacturing and thus Over FY19-22, we expect earnings CAGR of 20%, led by a CAGR of 36% in Biologics and 17% in Small molecules, with a 360bp margin improvement.

Revenues grew at ~21% CAGR in FY15-19 to | 1826 crore due to new client addition on a regular basis and scaled up revenues from existing clients led by integrated service offerings, high data integrity ethos and continuous endeavour to move up the value chain. Eight of the top 10 global pharma companies have been availing services for the last five years. It owns a pool...

Integrated business model, customer stickiness to the fore Revenues grew at ~21% CAGR in FY15-19 to | 1826 crore due to new client addition on a regular basis and scaled up revenues from existing clients led by integrated service offerings, high data integrity ethos and continuous endeavour to move up the value chain. Eight of the top 10 global pharma companies have been availing services for the last five years. It owns a pool...

Revenues grew at ~21% CAGR in FY15-19 to | 1826 crore due to new client addition on a regular basis and scaled up revenues from existing clients led by integrated service offerings, high data integrity ethos and continuous endeavour to move up the value chain. Eight of the top 10 global pharma companies have been availing services for the last five years. It owns a pool...

Syngene's Q3FY19 results were a mixed bag. While revenues and net profit were above I-direct estimates, EBITDA margins were lower than our estimates mainly due to lower gross margins Revenues grew 20.5% YoY to | 467.1 crore (I-direct estimate: | 431 crore) mainly on the back of traction in 1) accelerating growth in Discovery Services and Biologics businesses, 2) scientist ramp-up and 2) favourable currency movement (6% YoY). EBITDA margins contracted 251 bps to 30% YoY (I-direct estimate:...