Syngene International Q1 Review - Mixed Numbers; Remdesivir Impacts Margins: ICICI Direct
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. reported mixed Q1 FY22 results.
Revenues grew 41% YoY to Rs 658.5 crore amid lower base, normalisation of all verticals and manufacturing of Remdesivir.
Seasonality impacted sequential growth (de-grew 9.7%).
Ebitda margins contracted 178 basis points YoY to 27.8%, owing to higher raw material consumptions related to Remdesivir manufacturing.
Ebitda grew 32.5% YoY to Rs 165 crore. Consequent profit after tax was at Rs 77.3 crore (up 33.3% YoY).
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.