BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Syngene International Ltd.’s Q2 FY21 revenues grew 11.9% YoY to approximately Rs 520 crore led by growth in discovery services and strong traction in dedicated research and development centres.
Ebitda margins remained flat YoY at 30% with better gross margins due to a change in product mix being offset by higher employee expenses owing to recruitment for new facilities.
Ebitda grew 11.9% YoY to Rs 156 crore. Adjusted net profit (ex-exceptional insurance gain in Q2 FY20) grew 2.6% YoY to Rs 84 crore.
Delta vis-a-vis Ebitda was due to higher depreciation and lower other income partially offset by lower tax outgo.
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