Syngene Q4 Review - Growth Trajectory Maintained; Outlook Upbeat: ICICI Direct
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ICICI Direct Report
Syngene International Ltd.'s FY21 revenue grew 8.6% year-on-year to Rs 2,184 crore driven by steady growth across all divisions.
Adjusting for loss of export incentives, revenues grew 12% in FY21.
Ebitda margins remained flat YoY at 30.8% with better gross margins being offset by higher employee cost amid higher headcount.
Ebitda grew 8.7% YoY to Rs 672 crore. Adjusted profit after tax grew 4.4% YoY to Rs 382 crore.
Delta vis-a-vis Ebitda was due to higher depreciation and lower other income partially offset by lower tax rate.
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