FDC - Quarterly Aberration: Centrum Broking
Purple pills sit in a container. (Photographer: Daniel Acker/Bloomberg)

FDC - Quarterly Aberration: Centrum Broking

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.

Centrum Broking Report

FDC Ltd. ’s Q4 FY21 numbers were below our estimates. Revenues declined by 6% YoY/ 8% QoQ to Rs 3.1 billion, largely driven by slower than estimated export sales growth and gradual recovery in the domestic acute segment.

Export formulation grew by 7.5% YoY to Rs 572 million (18%of sales).

The quarter margins were impacted due to lower profit share from the U.S. business.

Domestic on ground activities improving led to higher staff costs and other expenses sequentially.

Impacting the Ebitda margins to the lowest in FY21 to 16.5%, we expect this to normalize as the domestic growth returns in coming quarters given the recovery in acute segment and key brands.

Click on the attachment to read the full report:

Centrum Broking FDC - Q4FY21 Results Update.pdf


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