Syngene International Q3 Review - Growth Outlook Remains Intact: Dolat Capital
Clinical development services facility of Syngene International.  (Image: Company website)

Syngene International Q3 Review - Growth Outlook Remains Intact: Dolat Capital

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Dolat Capital Report

Syngene International Ltd. reported an in-line Q3, where the top-line growth has been healthy at 13% YoY ($ term revenue growth – 10%) led by discovery services and steady traction in dedicated research and development segment.

Ebitda margins at 28.6% (up 100 basis points YoY, flat QoQ) were driven by operational efficiencies. Operational expenses from Mangalore active pharmaceutical ingredient plant dilutes margins by ~2%.

Though clinical trials across the globe are witnessing a slowdown due to intermittent lockdowns, company continues to maintain its FY21 revenue guidance of low double digit and flattish profit after tax.

Click on the attachment to read the full report:

Dolat Capital Syngene International Q3FY21 Result Update.pdf

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