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Neuland FY20 income at Rs.7,666 mn, up 14.4% EBITDA margins improve by 450 bps

Posted On: 2020-05-22 16:57:55


Neuland Laboratories Limited (NLL) (NSE: NEULANDLAB; BSE: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 fourth quarter (Q4FY20) and full year ended March 31, 2020.

Financial Highlights

Standalone FY20 (Y-o-Y)

- Total income was Rs.7,666.0 mn as compared to Rs.6,703.2 mn, an increase of 14.4%
- EBITDA stood at Rs.1,053.4 mn as compared to Rs.613.6 mn, up by 71.7%
- EBITDA Margin at 13.7% for FY20 as against 9.2%
- PAT stood at Rs.158.8 mn for FY20 as compared to Rs.161.4 mn, decrease of 1.6%. This was after a one-time tax charge of Rs. 232.5 mn in this quarter that the Company chose to exercise under Section 115BAA of the IT act.
- Consequently, basic EPS stood at Rs.12.38 as against Rs.12.83, decrease of 3.5%

Standalone Q4FY20 (Y-o-Y)

- Total Revenue was Rs.1,936.4 mn as compared to Rs.1,740.0 mn, reflecting an increase of 11.3%
- EBITDA stood at Rs.317.7 mn as compared to Rs.197.3 mn
- EBITDA Margin at 16.4% for Q4FY20 as against 11.3%
- PAT reported loss of Rs.93.5 mn for Q4FY20 as compared to profit of Rs.67.3 mn
- Basic EPS stood at Rs.-7.29 as against Rs.5.25

Standalone Q4FY20 (Q-o-Q)

- Total Revenue was Rs.1,936.4 mn as compared to Rs.2,046.4 mn
- EBITDA stood at Rs.317.7 mn as compared to Rs.290.8 mn
- EBITDA Margin at 16.4% for Q4FY20 as against 14.2%
- PAT reported loss of Rs.93.5 mn for Q4 FY20 as compared to profit of Rs.110.4 mn
- Basic EPS stood at Rs. -7.29 as against Rs. 8.61

Commenting on the performance Mr. Sucheth Davuluri, Vice-Chairman and Chief Executive Officer of the Company said "I am happy with the consistent performance of the Company in FY 20 despite the headwinds in the last quarter from the pandemic. The revenues have increased by over 14% while EBITDA has grown by ~ 72% driven primarily by the portfolio mix as well as the organic growth. The outlook for FY 21 looks positive and should be aided by contribution from Unit 3 which is in state of readiness now."

In addition, Mr. Saharsh Davuluri, Joint Managing Director, Neuland Labs added "We are pleased with the order pipeline of our CMS business segment which is one of the key growth drivers of the company. There is addition of both quality as well as quantity of projects to our CMS portfolio and I believe we are on track to reach our stated aspirations for the CMS business."

Shares of NEULAND LABORATORIES LTD. was last trading in BSE at Rs.438.75 as compared to the previous close of Rs. 444.7. The total number of shares traded during the day was 4969 in over 415 trades.

The stock hit an intraday high of Rs. 455.4 and intraday low of 421. The net turnover during the day was Rs. 2188855.


Source: Equity Bulls

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