BAL Pharma Limited returns to its profitable performance

BAL Pharma Limited recorded a revenue of INR 252 Cr for FY2021 compared to revenue of INR 174 Cr in FY2020, registering growth of 81% on a standalone basis. EBITDA (Earnings Before Interest Depreciation and Taxes) was reported at INR 29.2 er. The Company returned to its profitable performance and reported a net profit of INR 9.22 Cr versus a net loss of INR 9 Cr in FY20. The Board of directors has recommended a final dividend of INR 1 per equity share.

Financial Highlights

- Revenue - Strong contribution from Export business registering growth of 55% YoY. Export growth was led by both API and Formulations segments. API: Formulation mix for FY21 stood at 53:47 versus 43:57 in FY20.

- API segment reported growth of 81% YoY led by strong Domestic business. Domestic API's grew by robust 123% YoY, led by its Anti Diabetic drug.

Formulations reported growth of 21% led by higher export Sales. Overall good momentum in the international markets aided by strong performance in various territories across the world

- EBITDA margins were marginally affected due to higher Raw material prices especially of N AMINO AND PARACETAMOL.

- Order book position of the Company up to 30.09.2021 stands at Rs.70.00 Cr with API's contributing to Rs.45 Cr and formulations at Rs.25 Cr.

Commenting on financial results, Mr. Shailesh Siroya, Managing Director, BAL Pharma said, "The financial performance for FY21 has been encouraging in one of the most challenging periods in recent history. We are pleased with the strength showcased by all our business units - with the Export business recording higher growth for the year Our international formulations business has performed well and shows great promise with a focused growth strategy for our key markets, aided by new launches. On API front Domestic markets were quite buoyant and has witnessed significant improvement over previous year. Overall, medium to long-term growth opportunities are encouraging and various cost efficiency initiatives instituted over the last year places us well to enhance value for all our key stakeholders."

Shares of BAL PHARMA LTD. was last trading in BSE at Rs.102.5 as compared to the previous close of Rs. 97.65. The total number of shares traded during the day was 6393 in over 83 trades.

The stock hit an intraday high of Rs. 102.5 and intraday low of 102.5. The net turnover during the day was Rs. 655282.

Source : Equity Bulls

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