Lincoln Pharmaceuticals Ltd posts higher consolidated PAT of Rs. 20.91 crore in Q2FY21

LINCOLN PHARMACEUTICALS LTD. has reported financial results for the period ended September 30, 2020.

Financial Results (Q2 FY20-21) - QoQ Comparison

The company has reported total income of Rs.126.66 crores during the period ended September 30, 2020 as compared to Rs.105.59 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.20.91 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.15.25 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.10.46 for the period ended September 30, 2020 as compared to Rs.7.63 for the period ended June 30, 2020.

Financials	Q2 FY20-21	Q1 FY20-21	% Change
Total Income	₹ 126.66 crs	₹ 105.59 crs	19.95%
Net Profit	₹ 20.91 crs	₹ 15.25 crs	37.11%
EPS	₹ 10.46	₹ 7.63	37.09%

Financial Results (Q2 FY20-21) - YoY Comparison

The company has reported total income of Rs.126.66 crores during the period ended September 30, 2020 as compared to Rs.115.21 crores during the period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.20.91 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.18.91 crores for the period ended September 30, 2019.

The company has reported EPS of Rs.10.46 for the period ended September 30, 2020 as compared to Rs.9.46 for the period ended September 30, 2019.

Financials	Q2 FY20-21	Q2 FY19-20	% Change
Total Income	₹ 126.66 crs	₹ 115.21 crs	9.94%
Net Profit	₹ 20.91 crs	₹ 18.91 crs	10.58%
EPS	₹ 10.46	₹ 9.46	10.57%

Financial Results (6 months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.232.25 crores during the 6 months period ended September 30, 2020 as compared to Rs.213.31 crores during the 6 months period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.36.16 crores for the 6 months period ended September 30, 2020 as against net profit / (loss) of Rs.31.58 crores for the 6 months period ended September 30, 2019.

The company has reported EPS of Rs.18.08 for the 6 months period ended September 30, 2020 as compared to Rs.15.79 for the 6 months period ended September 30, 2019.

Financials	Half-Year Ended FY20-21	Half-Year Ended FY19-20	% Change
Total Income	₹ 232.25 crs	₹ 213.31 crs	8.88%
Net Profit	₹ 36.16 crs	₹ 31.58 crs	14.5%
EPS	₹ 18.08	₹15.79	14.5%

Commenting on the results and performance, Mr. Mahendra Patel, Managing Director, Lincoln Pharmaceuticals Limited, said, "Company has delivered a robust operational and financial performance during the quarter maintaining healthy growth in revenue, profitability and expects to continue the growth momentum. Exports sales (FOB) in Q2FY21 increased 9.65 % to Rs. 68.85 crore and is expected to get further boost once we start exports to Europe. Strategic growth initiatives, strong performance in the domestic and international markets, EU approval, new product approvals, better margin products along with operational efficiency are likely to contribute healthy growth and maximize value for all stakeholders in the near to medium term."

Export business of the company has shown remarkable growth in the last few years. Exports have increased to 56% of total sales in FY20 from 11% of total sales in FY13. Company currently exports to 60 plus countries including East & West Africa, Central & Latin America and Southeast Asia and has got many product registrations in these countries and is also awarded with number of global tenders. With the EU certification, company will expand its business network to 90 plus countries.

During the quarter, company launched Chewable Vitamin C + Zinc Tablet for Indian market. The tablet is an evidence-based bio-active for natural immunity in combination of zinc that boosts antiviral activity and protection against COVID 19. Market size for Vitamin C and Zinc tablets is estimated at around Rs. 150 crore in India and growing at 15% per annum.

Company has received European Union (EU) GMP certification from Germany FDA for its manufacturing facility located at Khatraj in Gujarat. The certification will allow the company to market its products in all the 27 member countries of EU and also give access to European Economic Area (EEA) countries. Company looks to enter the EU markets during the current financial year with its dermatology, gastro and pain management products and gradually expand product portfolio.

Shares of LINCOLN PHARMACEUTICALS LTD. was last trading in BSE at Rs.227.85 as compared to the previous close of Rs. 216.6. The total number of shares traded during the day was 19390 in over 1039 trades.

The stock hit an intraday high of Rs. 230 and intraday low of 214.1. The net turnover during the day was Rs. 4329937.

Source : Equity Bulls

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