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Neuland Laboratories Ltd Q1 FY20 Revenue grew 17.1%; EBITDA grew 89.1% YoY

Posted On: 2019-08-13 23:08:30

Neuland Laboratories Limited (NLL) (NSE: NEULANDLAB; BSE-Scrip Code:524558), a pharmaceutical manufacturer providing active pharmaceutical ingredients (APIs), complex intermediates and custom manufacturing solutions services to customers located in around 80 countries, today announced financial results for the first quarter (Q1FY20) ended June 30, 2019.

Financial Highlights - Standalone Q1FY20 (Y-o-Y)

- Total Revenue was Rs. 1,815.3 mn for Q1 FY20 as compared to Rs. 1,550.7 mn for Q1 FY19, reflecting an increase of 17.1%
- EBITDA stood at Rs. 190.9 mn as compared to Rs. 100.9 mn
- EBITDA Margin at 10.5% for Q1FY20 as against 6.5% in Q1FY19
- Net profit stood at Rs. 56.1 mn for Q1FY20 as compared to Rs. 4.1 mn in Q1FY19
- Basic EPS stood at Rs. 4.38 as against Rs. 0.35

Standalone Q1FY20 (Q-o-Q)

- Total Revenue was Rs. 1,815.3 mn as compared to Rs. 1740.0 mn for Q4 FY19
- EBITDA stood at Rs. 190.9 mn as compared to Rs. 197.3 mn
- EBITDA Margin at 10.5% for Q1FY20 as against 11.3%
- Net profit stood at Rs. 56.1 mn for Q1FY20 as compared to Rs. 67.3 mn
- Basic EPS stood at Rs. 4.38 as against Rs. 5.25

Commenting on the performance Mr. Sucheth Davuluri, Vice-Chairman and Chief Executive Officer of the Company said "We are seeing an all round improvement in business dynamics. Revenue is witnessing consistent growth driven by CMS business which was the largest contributor to growth in this quarter. Better revenue mix and cost optimisation measures are leading towards improvement in profitability. On the balance sheet front we have over the last few quarters worked on improving our working capital efficiency as well as kept our debt at moderate levels. We believe that the performance of this quarter will be a broad indicator of how the rest of the year will pan out."

In addition, Mr. Saharsh Davuluri, Joint Managing Director, Neuland Labs added " We are looking forward to further improvement in performance of our CMS business after last 3 quarters of consistent revenues and a reasonably strong order book. With revenue from CMS business as well as specialty APIs expected to rise, we expect the business margins to improve further in this fiscal."

Shares of NEULAND LABORATORIES LTD. was last trading in BSE at Rs.473.7 as compared to the previous close of Rs. 461.25. The total number of shares traded during the day was 1230 in over 168 trades.

The stock hit an intraday high of Rs. 488.85 and intraday low of 462. The net turnover during the day was Rs. 586197.


Source: Equity Bulls

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