Syngene International Q1 Review - Mixed Numbers; Remdesivir Impacts Margins: ICICI Direct
Glass vials for liquid samples. (Photographer: Jeoffrey Guillemard/Bloomberg)

Syngene International Q1 Review - Mixed Numbers; Remdesivir Impacts Margins: ICICI Direct

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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:

ICICI Direct Syngene International Q1FY22 Result Update.pdf

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