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    AUROPHARMA   INE406A01037

AUROBINDO PHARMA

(AUROPHARMA)
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PR-Q2 FY 2021-22

11/09/2021 | 01:03am EST

PRESS RELEASE

8th November 2021, Hyderabad, India

Aurobindo Pharma Ltd: Q2 FY22 Consolidated Financial Results (ex-Natrol)

%

%

Amount (INR Cr)

Q2FY22

Q2FY21

Change

Q1FY22

Change

YoY

QoQ

Revenue from operations

5,941.9

6,068.9

(2.1%)

5,702.0

4.2%

EBITDA before Forex and Other income

1,186.7

1,294.6

(8.3%)

1,209.4

(1.9%)

EBITDA margin (%)

20.0%

21.3%

--

21.2%

--

PBT before JV, Forex and Exceptional items

976.8

1,083.2

(10.0%)

998.1

(2.0%)

Net Profit

696.7

711.4

(2.1%)

770.0

(9.5%)

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."

Corp. Off.: Galaxy, Floors: 22-24, Plot No.1, Survey No.83/1, Hyderabad Knowledge City, Raidurg Panmaktha, Ranga Reddy District, Hyderabad - 500 032, Telangana, India. Tel : +91 40 6672 5000 / 6672 1200 Fax: +91 40 6707 4044.

Regd. off.: PlotNo. 2, Maithrivihar, Ameerpet, Hyderabad - 500038 T.S., INDIATel:+91 40 23736370/ 23747340 Fax:+914023741080/ 2374 6833

Operational Performance (Consolidated)

(Amount in INR Cr)

Q2

Q2

% Chg

Q1

% Chg

FY22

FY21

(YoY)

FY22

(QoQ)

Formulations

USA

2,967.6

2,775.3

6.9

2,681.2

10.7

Europe

1,662.3

1,514.8

9.7

1,582.9

5.0

Growth Markets

386.3

446.5

-13.5

329.3

17.3

ARV

145.0

502.7

-71.2

296.4

-51.1

Total Formulations

5,161.3

5,239.3

-1.5

4,889.8

5.6

Active Pharmaceutical Ingredients (API)

Betalactam

420.8

434.4

-3.1

383.6

9.7

Non Betalactam

359.8

394.6

-8.8

428.3

-16.0

Total API

780.6

829.0

-5.8

812.0

-3.9

Consolidated Gross Sales

5,941.9

6,068.3

-2.1

5,701.7

4.2

Dossier Income

0.0

0.6

0.2

Revenue from operations

5,941.9

6,068.9

-2.1

5,702.0

4.2

Note: Operational Performance exclude Natrol for ease of comparison

Q2 FY22: Consolidated revenue breakup - Geography & Segment wise

Domestic, 10%

API, 13.1%

ARV, 2.4%

Growth

Markets,

6.5%

Europe,

28.0%

International, 90%

US, 49.9%

Domestic

International

US

Europe

Growth Markets

ARV

API

Corp. Off.: Galaxy, Floors: 22-24, Plot No.1, Survey No.83/1, Hyderabad Knowledge City, Raidurg Panmaktha, Ranga Reddy District, Hyderabad - 500 032, Telangana, India. Tel : +91 40 6672 5000 / 6672 1200 Fax: +91 40 6707 4044.

Regd. off.: PlotNo. 2, Maithrivihar, Ameerpet, Hyderabad - 500038 T.S., INDIATel:+91 40 23736370/ 23747340 Fax:+914023741080/ 2374 6833

Formulations

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.

US Formulations

  • 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 Formulations

  • 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 Formulations

  • 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.

Corp. Off.: Galaxy, Floors: 22-24, Plot No.1, Survey No.83/1, Hyderabad Knowledge City, Raidurg Panmaktha, Ranga Reddy District, Hyderabad - 500 032, Telangana, India. Tel : +91 40 6672 5000 / 6672 1200 Fax: +91 40 6707 4044.

Regd. off.: PlotNo. 2, Maithrivihar, Ameerpet, Hyderabad - 500038 T.S., INDIATel:+91 40 23736370/ 23747340 Fax:+914023741080/ 2374 6833

Global Regulatory Filings

Filings

Q2

Cumulative Filings

FY22

as on 30th Sept 2021

ANDAs (including filings from Aurobindo USA)

27

681

DMFs (including filings from AuroNext and Auro Peptides)

3

256

Formulations Dossiers in other key advanced markets (incl.

62

4,071

multiple registrations in Europe, South Africa and Canada)

API DMF/COS filings in other key regulated markets (incl.

101

3,417

multiple registrations)

USFDA Approvals Received in Q2 FY22

Final Approvals - ANDA

#

Product

Therapy

1

Daptomycin Inj. (gCubicin) 500 mg

Anti-infective

2

Decitabine Inj. (gDacogen) 50 mg

Oncology

3

Baclofen Tab (gLioresal) 10 mg & 20 mg

CNS

4

Nifedipine ER Tab (gAdalat) 30 mg, 60 mg & 90 mg

CVS

5

Fenofibrate Cap (gTricor) 67 mg, 134 mg & 200 mg

CVS

6

Nicotine Polacrilex Lozenge OTC (gNicorette) 2 mg & 4 mg

Smoking Cessation Agent

7

Vigabtrin OS (gSabril) 500 mg

CNS

Final Approvals - NDA

#

Product

Therapy

1

Cyclophosphamide Inj. 500 mg/ 2.5 ml & 1 g/ 5 ml

Antineoplastic - Alkylating Agent

Corp. Off.: Galaxy, Floors: 22-24, Plot No.1, Survey No.83/1, Hyderabad Knowledge City, Raidurg Panmaktha, Ranga Reddy District, Hyderabad - 500 032, Telangana, India. Tel : +91 40 6672 5000 / 6672 1200 Fax: +91 40 6707 4044.

Regd. off.: PlotNo. 2, Maithrivihar, Ameerpet, Hyderabad - 500038 T.S., INDIATel:+91 40 23736370/ 23747340 Fax:+914023741080/ 2374 6833

Q2 FY22 Earnings Call Details

The company will host earnings call at 8.30 AM IST on 9th November 2021, to discuss the performance and answer any questions from participants.

To join the call through Zoom:

Please pre-register by clicking here: https://bit.ly/3EwgnvN

About Aurobindo Pharma Limited

Aurobindo Pharma Limited (www.aurobindo.com), (NSE: AUROPHARMA, BSE: 524804, Reuters:

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.

For further information, please contact:

Arvind Bothra

Head - Investor Relations | Corporate Communications

Phone: 040-66725401 / 66725000

Email: ir@aurobindo.com

Corp. Off.: Galaxy, Floors: 22-24, Plot No.1, Survey No.83/1, Hyderabad Knowledge City, Raidurg Panmaktha, Ranga Reddy District, Hyderabad - 500 032, Telangana, India. Tel : +91 40 6672 5000 / 6672 1200 Fax: +91 40 6707 4044.

Regd. off.: PlotNo. 2, Maithrivihar, Ameerpet, Hyderabad - 500038 T.S., INDIATel:+91 40 23736370/ 23747340 Fax:+914023741080/ 2374 6833

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

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.


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Number of Analysts 28
Last Close Price 623,90 INR
Average target price 871,64 INR
Spread / Average Target 39,7%
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Kambam Nithyananda Reddy Vice Chairman & Managing Director
Santhanam Subramanian Chief Financial Officer
Kannan Ragunathan Non-Executive Chairman
B. Adi Reddy Secretary & Compliance Officer
Avnit Bimal Singh Independent Non-Executive Director
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