Syngene International Q4 Review -  Higher Capex In FY22E To Impact Near-Term Profitability: Dolat Capital
Syngene International viral testing facility. (image Company website)

Syngene International Q4 Review - Higher Capex In FY22E To Impact Near-Term Profitability: Dolat Capital

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.

Dolat Capital Report

Syngene International Ltd. reported an operationally strong Q4 (32% Ebitda margins versus our estimate of 29%) despite an in-line top-line growth at 8% year-on-year (dollar term revenue growth 12%) led by discovery services and steady traction in dedicated research and development segment.

Ebitda margins at 32% (down 160 basis points YoY, up 340 basis points QoQ) driven by seasonality.

Two milestone developments in Q4 were:

  1. Commercialisation at Mangalore facility with a small project and we expect large scale operations once the U.S. Food and Drug Administration inspection and approval comes through.

  2. Extension of its long term contract with one of its oldest and largest customer, Bristol Myers Squibb, up to 2030.

Click on the attachment to read the full report:

Dolat Capital Syngene International Q4FY21 Result Update.pdf

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