Note: Consolidated financials exclude Natrol for ease of comparison
Key highlights of Q2 FY22 (ex-Natrol)
Revenue from Operations at INR 5,942 Cr decreased by 2.1% over corresponding period last year o US formulations revenue grew by 6.9% on a YoY basis to INR 2,967.6 Cr o Europe formulation revenue stood at INR 1,662 Cr, an increase of 9.7% over corresponding previous quarter o Growth Markets declined by 13.5% YoY and grew by 17.3% QoQ to INR 386.3 Cr o ARV revenue declined by 71.2% YoY to INR 145 Cr o API revenue for the quarter was at INR 780.6 Cr vs. INR 829 Cr in the corresponding previous period
EBIDTA before Forex and Other income stood at INR 1,186.7 Cr; EBITDA margin for the quarter was 20%
Research & Development (R&D) spend at INR 399 Cr, 6.7% of revenues (Q1 FY22: 6.3%)
Received final approval for 7 ANDAs including 2 injectables and 1 505(b)(2) NDA from USFDA
Net Profit stood at INR 696.7 Cr as against INR 711.4 Cr in the corresponding previous period
Basic & Diluted EPS is INR 11.89 per share
The Board declared an interim dividend of INR 1.50 per share
Commenting on the Company's performance, Mr. N. Govindarajan, Managing Director of the company said: "Business performance across most of the segments was robust, aided by gradual pick-up in demand and gradual market share gains. However, profitability was impacted by cost pressure on some of the key raw materials as well as higher logistic costs. We are leveraging the opportunity to streamline our working capital to improve cashflows and will continue to see the benefits of the same over the next few quarters. We are pleased with the steady progress in our complex generic product development and look forward to executing the same to enhance our business growth and profitability."
Formulation revenue for continuing operations for the quarter decreased by 1.5% YoY to INR 5,161.3 Cr and accounted for 87% of total revenues.
In Q2 FY22, US revenue increased by 6.9% YoY to INR 2,967.6 Cr and accounted for 50% of consolidated revenues
Filed 27 ANDAs including 5 injectables with USFDA in Q2 FY22
Received final approval for 7 ANDAs including 2 injectables and 1 505(b)(2) NDA in Q2 FY22
As on 30th September 2021, on a cumulative basis, the company filed 681 ANDAs with USFDA and received approval for 456 ANDAs including 29 tentative* approvals
The company has launched 6 products during the quarter including 3 injectables
*Tentative approvals include 8 ANDAs approved under PEPFAR.
Europe revenue in Q2 FY22 posted a growth of 9.7% YoY to INR 1,662.3 Cr. Europe Formulations accounted for 28% of consolidated revenues.
ARV business revenue for Q2 FY22 was at INR 145 Cr compared to INR 502.7 Cr in Q2 FY21, a decrease of 71% YoY and accounted for 2.4% of total revenues. The business was affected by higher stocking on advanced procurement last year, amid Covid-19 uncertainties by multilateral agencies.
Growth Markets Formulations
Revenue from Growth Markets formulations in Q2 FY22 declined by 13.5% YoY and grew by 17.3% QoQ to INR 386.3 Cr and accounted for 7% of revenue. The quarter's performance was led by strong growth in Canada, Brazil and other markets.
Active Pharmaceutical Ingredients (API)
In Q2 FY22, API business posted a revenue of INR 780.6 Cr and contributed 13% to the consolidated revenues
The company filed 3 DMFs with USFDA during the quarter.
ARBN.NS, Bloomberg: ARBP IN) headquartered at Hyderabad, India, develops, manufactures and distributes generic pharmaceuticals, branded specialty pharmaceuticals and active pharmaceutical ingredients. The company's manufacturing facilities are approved by several leading regulatory agencies like US FDA, UK MHRA, EU, Japan PMDA, WHO, Health Canada, South Africa MCC, Brazil ANVISA. The company's robust product portfolio is spread over 7 major therapeutic/product areas encompassing CNS, Anti-Retroviral, CVS, Antibiotics, Gastroenterological, Anti-Diabetics and Anti- Allergic, supported by a strong R&D set-up. The Company is marketing these products globally in over 150 countries.
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Aurobindo Pharma Ltd. published this content on 09 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 November 2021 06:02:05 UTC.