Suven Pharma - Decent Performance In Q1 Despite Margin Pressure: ICICI Direct
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ICICI Direct Report
Suven Pharmaceuticals Ltd. is a contract development and manufacturing organisaion that supports global life sciences industry and fine chemical majors in their new chemical entity development endeavours.
Its services include custom synthesis, process research and development, scale-up and contract manufacturing.
Q1 FY22 revenue grew 10.7% YoY to Rs 263.8 crore. Ebitda margins declined 360 basis points YoY to 43.4%, mainly due to increase in employee and other expenditure.
Subsequently, Ebitda grew 2.3% YoY to Rs 114.6 crore. Profit after tax was up 14.8% YoY to Rs 105.1 crore.
Delta vis-a-vis Ebitda was due to higher profit share from associates.
Going ahead, Suven Pharma hopes to achieve 10-15% growth in FY22 based on strong order book position.
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