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ICICI Direct Report
Caplin Point Laboratories Ltd.'s revenues grew 18.9% YoY to Rs 326.2 crore mainly on the back of the company’s unique end to end business model in Latin America.
Ebitda margins were steady YoY at 31% while Ebitda grew 20.3% YoY to Rs 101 crore. Adjusted profit after tax grew 16.3% YoY to Rs 75 crore.
Caplin’s core business in Latin America and Africa delivered strong growth amid challenging landscape in logistics while Caplin Steriles nine months-FY22 sales has overtaken FY21 revenues and has set a target of $100 million by CY26 in U.S.
The company is undergoing a capex journey of Rs 430-450 crore to expand existing capacities, widen its product portfolio and backward integrate majority of the products.
Caplin plans to enter more regulated markets such as Canada, Australia, China, Russia/Commonwealth of Independent States as well as enter the bigger LatAm markets of Mexico and Brazil in the near to medium term horizon.
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