CRAMS revenue decreased 14.7% yoy primarily due to:
- CRAMS India revenue decreased by 61.0% due to EDQM observations but on account of certain successful customer audits and production of certain complex intermediates, this is expected to improve going forward.
- CRAMS Carbogen Amcis AG revenue decreased by 9.7% due to lower commercial revenue in the current quarter.
- CRAMS UK revenue increased by 22.6% due to supply of more non-GMP products during the quarter.
EBITDA Margin (including Forex impact) at 13.4% in Q3 FY21, affected by:
- Lower contribution to EBITDA from CRAMS India where the margins are higher than other geographies.
- Negative forex impact of Rs21.96cr in Q3FY21 as compared to positive forex impact of Rs3.13cr in Q3FY20.
The company also informed about the business updates in India:
- Ongoing manufacturing of complex starting material for Swiss based client in Bavla due for delivery in Q4FY21.
- Ongoing campaign of 4 steps of a critical intermediate of the largest API across the group underway and expected to be
- delivered in Q4FY21.
- Audit successfully completed last week by client to enable manufacturing of Bedaquiline KSM from March 2021.
- Manufacturing underway for a number of products at Bavla and Naroda.
- EDQM remediation activities progressing to plan at the Bavla sit.