Suven Pharma - Forward Integration, Swift Pipeline Progress To Boost Growth: Anand Rathi
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Anand Rathi Report
In Q4 FY21, Suven Pharmaceuticals Ltd.’s gross margin had fallen to 64.7%. In Q1 FY22 it recovered, expanding 60 basis points YoY at 70.9% due to more sales of the contract development and manufacturing organisation pharma division.
Revenue grew 10.7% to Rs 2.6 billion, backed by 22.8% growth in CDMO pharma and 28.8% in formulations and other services.
CDMO specialty chemicals, though, declined 9.2% YoY as more quantities were shipped a year ago.
The Ebitda margin softened 360 bps to 43.4% due to higher employee and freight costs.
Its Vizag plant will help Suven Pharma step up in the value chain while the late-stage clinical pipeline was boosted by four molecules moving from phase-II to phase-III in the last six months.
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