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FDC Q1 Review - Cost Pressure Persists: Centrum Broking

FDC Q1 Review - Cost Pressure Persists: Centrum Broking

<div class="paragraphs"><p>Tablets spilling out from  a medicine bottle. (Source: pxhere)</p></div>
Tablets spilling out from a medicine bottle. (Source: pxhere)

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Centrum Broking Report

FDC Ltd.’s reported Q1 FY23 result, with overall sales grew by 11% YoY and 45% QoQ led by recovery in domestic acute market benefited the company.

Domestic revenue grew 8% YoY and 51% QoQ, driven by strong recovery in Zifi, Electral and Enerzal.

Export formulations grew by 27% YoY and 15% QoQ to Rs 546 million (11% of sales). Despite competition the demand has become stable which has driven growth the export sales.

FDC's gross margins came in at 62% YoY contraction is largely on high base. Ebitda margin stood at 16% and has improved sequentially due to improving domestic on-ground activities. Profit after tax for the quarter stood at Rs 707 million down by 28% YoY. We expect the domestic recovery to remain strong on back of key products and on-going plans for entering into the derma and nutraceutical segment.

Click on the attachment to read the full report:

Centrum FDC - Q1FY23 Results Update.pdf

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