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
Syngene International Ltd.'s revenues grew 8% YoY to Rs 644 crore driven by continued momentum in dedicated and discovery services and incremental contribution from development and manufacturing services.
Ebitda margins declined 94 basis points YoY to 26.8% mainly due to higher other expenditure being partly offset by higher gross margins (up 772 bps YoY to 75%). Ebitda grew 5% YoY to Rs 173 crore.
Net profit declined 4% YoY to Rs 74 crore. Delta vis-a-vis Ebitda is mainly due to higher depreciation, tax and interest expenses.
Syngene’s Q1 FY23 revenues growth was on a high base due to sales of Remdesivir in Q1 FY22. Excluding the one-off sales, top-line grew ~ 30% YoY.
Management has raised the FY23 revenue guidance from mid-teen to high-teen due to rupee depreciation vis-a-vis U.S. dollar and the recent agreement with Zoetis.
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