Aurobindo’s revenue in Q3FY19 grew by 21.5% yoy to Rs5,269.7cr. This was due to improvement in the US, Growth Markets, ARV and non Betalactum business. The US, ARV, growth markets and non-betalactum businesses saw double digit improvement sequentially. EBITDA grew by 5.9% yoy to Rs1,086.4cr in Q3FY19 vs. Rs1,025.6cr in Q3FY18. EBITDA margins in Q3FY19 stood at 20.6% vs. 20.8% in Q2FY19 and 23.7% in Q3FY18. PAT grew by 19.7% yoy to Rs712.2cr in Q3FY19 vs. Rs594.9cr in Q3FY18. We had expected revenue/EBITDA/PAT of Rs4,842cr/Rs1,050cr/Rs664cr in Q3FY19, hence the result is above our expectations.
US formulation sales registered growth of 27.4% yoy to Rs2,433.2cr.
Europe formulation grew 10.3% yoy to Rs1,292.8cr.
Growth Markets posted a strong growth of 36.1% yoy to Rs340.5cr.
ARV sales grew 17.8% yoy to Rs281.3cr.
API sales witnessed a healthy growth of 20.4% yoy to Rs921.7cr.
Research & Development spend at Rs254.6cr, 4.8% of revenues.
The company has filed 10 ANDAs with USFDA including 4 ANDAs for injectable products.
Cumulatively, as on 9MFY19, the company has filed 519 ANDAs with USFDA and received approval for 397 ANDAs including 28 tentative approvals.
Aurobindo Pharma Ltd ended at Rs. 774, up by 13.35 points or 1.76% from its previous closing of Rs. 760.65 on the BSE.
The scrip opened at Rs. 762.05 and touched a high and low of Rs. 782.60 and Rs. 760.30 respectively. A total of 22,04,725 (NSE+BSE) shares were traded on the counter. The stock traded below its 100 DMA.
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