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

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

Glass vials for liquid samples. (Photographer: Jeoffrey Guillemard/Bloomberg)
Glass vials for liquid samples. (Photographer: Jeoffrey Guillemard/Bloomberg)

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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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