BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Suven Pharmaceuticals Ltd.'s revenues grew 28% YoY to Rs 339 crore, driven by 37% YoY growth in contract research and manufacturing services-pharma to Rs 210 crore and 38% YoY growth in CRAMS-specialty chemical to Rs 117 crore.
Ebitda margins improved 108 bps YoY to 44.5%, mainly due to higher gross margins (up 43 bps to 71.3%). Ebitda grew 32% YoY to Rs 151 crore while profit after tax was up 2% YoY to Rs 107 crore.
Delta vis-a-vis Ebitda was due to higher tax expense. Suven’s quarterly revenues were in line with our estimates while margins were better than expected.
For Suven, CRAMS-pharma remain a high-, high-margin business, involving the supply of intermediates for new chemical entities. However, on a Covid-led high base of FY22 and gradual transformation of big pharma from Covid to non-Covid investments, FY23 is likely to be a steady year.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR