Supriya Lifesciences' revenue grew by 44% in Q3; stock ends lower

21 Jan 2022 , 04:58 PM

Supriya Lifesciences Ltd., announced its results for Q3 FY’22. The company reported growth in many avenues and outlined its strong performance over the quarter.

The company reported consolidated revenue of Rs 122.40 crore for Q3 FY’22 against Rs 85.02 crores for Q3 FY’21, reporting a growth of 44% YoY.

Supriya Lifesciences reported growth of 153% YoY in its PAT which stood at Rs 39.64 crore for the quarter ending December 2021, as against Rs 15.69 crore for the previous corresponding quarter.

Supriya Lifescience ended at Rs465.80 down by Rs105.6 or 18.48% from its previous closing of Rs571.40 on the BSE. The scrip opened at Rs573.95 and touched a iintraday high and low of Rs582 and Rs457.15 respectively.

It reported an EBITDA of Rs 43.82 crore for Q3 FY’22 against an EBITDA of Rs 30.16 crore for Q3 FY’21, showing growth of 45.29% YoY. Gross Profit for Q3 FY22 stood at Rs. 80.65 crore as compared to Rs. 52.27 crore in Q3 FY21, a growth of 54% YoY as compared to the same quarter last year.

The current quarter performance was driven by very strong demand for anesthetic, Antiasthmatic, and Vitamin therapy. The company expects the demand for these therapies to be strong, also expects demand for antihistamines to pick up going forward.

“The company has shown consistent performance for 9 months FY22 with operating revenue of Rs 3,525.0 Mn with EBIDTA of Rs 1,424.8 Mn (40 % of Revenue) and PAT of Rs 1,056.0 Mn (30% of revenue). The current quarter performance was driven by a very robust demand for anesthetic, antiasthmatic, and Vitamin products. The fourth manufacturing block at our site got operational in May’21. We have also commenced the work for the next manufacturing block which is expected to get operational by FY23. This block will add 310 KL capacity. Two new warehouses for Finished Goods and Raw materials will get operational by Q1 FY23. A new Quality Control laboratory along with a state-of-the-art R&D laboratory will be operational by Q2 FY23. In line with company strategy to penetrate in more regulated markets, we have also applied for registering more products in US, European and Chinese markets,” said Dr. Satish Wagh, Chairman & Managing Director, Supriya Lifescience commenting on the company’s performance.

Company credits increase in sales to higher penetration in regulated markets like Europe and Latin America.