Eris Lifesciences Q3 Results Review - Margins Inline; Miss In Revenue: Nirmal Bang

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. .Nirmal Bang Report.Eris Lifesciences Ltd.’s Q3 FY23 results missed our estimate on the revenue front although margins came inline with estimates. Consolidated revenue grew by 27.4% YoY to Rs 4.2 billion (our estimate: Rs 4.5 billion), led by consolidation of Oaknet. Standalone revenue grew at a slower pace of 5% YoY to Rs 3.3 billion, which was mainly due to discontinuation of Zayo and Zac-D brands. Excluding these brands, growth in the standalone business was strong, driven by robust growth in Cardio-Diabetology and Women’s Healthcare segments, led by continued growth in Zomelis, Gluxit and Drolute brands. Consolidated Ebitda margin stood at 32.4%, in line with our estimate. Margins are expected to improve from here on mainly on the back of:reduced losses in the Insulin segment (expected to reach breakeven in FY24),improvement in Oaknet margins andoperational leverage, especially driven by scale-up in new launches. Consolidated net profit was almost flat YoY at Rs 1.0 billion (our estimate: Rs 1.1 billion). Post Oaknet, Eris Lifesciences has now acquired nine dermatology brands from Glenmark Pharmaceuticals Ltd. to further strengthen its dermatology portfolio..Click on the attachment to read the full report:.DISCLAIMERThis 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.

Eris Lifesciences Q3 Results Review - Margins Inline; Miss In Revenue: Nirmal Bang

Eris Lifesciences’ Q3 FY23 results missed our estimate on the revenue front although margins came inline with estimates.

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