Themis Medicare PAT rises 6% yoy to Rs12.5 crore in Q3FY22; Stock climbs over 1.5%

16 Feb 2022 , 09:17 AM

Themis Medicare Limited has announced its unaudited financial results for the third quarter and nine months ended December 31, 2021.

On Wednesday at around 9:17 AM, Themis Medicare was trading higher by 1.69% at Rs1119.15 per piece on Sensex.

For the quarter ended December 31, 2021:

• Revenue from Operations stood at Rs94.92 crore in Q3 FY22, as against Rs65.52 crore in Q3 FY21, growth of over 44.88% – driven by increase in both Formulations and APIs
• EBITDA for the quarter was Rs17.29 crore as against Rs15.25 crore in Q3 FY21, increase of 13.40% – EBITDA Margin stood at 18.22% as against 23.28% for respective quarters – mainly on account of higher Raw Material prices and Higher processing charges.
• Q3 FY22 Profit stood at Rs12.46 crore as against profit of Rs11.76 crore in Q3 FY21, increase of 5.90%

For the nine months ended December 31, 2021:

• Revenue from Operations stood at Rs314.82 crore in 9M FY22, as against Rs168.90 crore in 9M FY21, growth of 86.40%
• EBITDA stood at Rs81.23 crore as against Rs37.24 crore in 9M FY21, increase of 118.10% – EBITDA Margin stood at 25.80% as against 22.05% for respective periods
• 9M FY22 Profit stood at Rs62.93 crore as against profit of Rs27.65 crore in 9M FY21, increase of 127.60%
• Exports sales for 9M FY22 stood at 48% of total revenue as against 41% in 9M FY21

Commenting on the result, Dr. Sachin D. Patel, MD and CEO, Themis Medicare said, “I am happy to state that the Company produced a very satisfactory performance for the 9-month ended December 21. The continued focus on Formulations along with efforts to strengthen our exports presence enabled us to maintain momentum of growth for the Company.

Formulations sales for 9 months stood at nearly 70% and Exports sales were nearly 48%. Both these remain our strategic areas of growth. However, increasing Raw Material prices have been a pain area for us during the third quarter which also impacted the 9-month performance. Other Expenses too impacted the EBITDA performance for the quarter on account of higher processing charges.

We nevertheless remain confident of the growth momentum for the Company as our strategies continue to pay off. As stated earlier we are focused on growing our Complex generics portfolio with a strong focus on injectables. We also are focusing on increasing the NDDS basket of the Company. We are committed to build an ecosystem with multipronged strategies that would result in sustainable growth and profitability.

I take this opportunity to thank my entire team for working tirelessly and all stake holders for their continuous faith in this Company.”