Key highlights from Syngene Q3 FY23 concall:
CMP: ₹ 564
Like and Retweet for Maximum Reach
CMP: ₹ 564
Like and Retweet for Maximum Reach
-Revenue for the quarter was at ₹786 Cr (23% growth YoY, 2% growth QoQ). EBITDA margin for the quarter was at 30.9% compared to 33.1% in the same quarter last year.
Lower margins were due to losses on FX hedge, increased employee costs,
Lower margins were due to losses on FX hedge, increased employee costs,
increase in travel and marketing costs and product mix which was more geared towards manufacturing which has lower margins due to low scale and capacity utilization.
-They received regulatory approval for their biologics facility from the US FDA, European EMA and UK MHRA.
-They received regulatory approval for their biologics facility from the US FDA, European EMA and UK MHRA.
-They are expecting operating leverage to kick in from FY24 which will improve margins.
-The Hyderabad campus which is for discovery services continues to expand. The number of scientists at the Hyderabad campus has increased to 800 and they are adding an additional
-The Hyderabad campus which is for discovery services continues to expand. The number of scientists at the Hyderabad campus has increased to 800 and they are adding an additional
24,000 sq.ft. of lab space along with a new compound and management facility in Q4 FY23. The increased space will aid in future growth.
-Development services has seen good growth aided by repeat orders from existing clients as well as an increase in the number of collaborations
-Development services has seen good growth aided by repeat orders from existing clients as well as an increase in the number of collaborations
with emerging biopharma companies.
-They have added a sterile fill-finish facility for development services which can carry out small-scale manufacturing of small and large molecules. They have approval from CDSCO and can start GMP production from this quarter.
-They have added a sterile fill-finish facility for development services which can carry out small-scale manufacturing of small and large molecules. They have approval from CDSCO and can start GMP production from this quarter.
The facility will be primarily used to manufacture products in Phase 1 and Phase 2 clinical trials.
Loading suggestions...