Q2FY22 Result Update - Syngene International - ICICI Direct

Syngene reported steady Q2FY22 results.

• Revenues grew 17.4% YoY, 2.6% QoQ to Rs. 610.2 crore amid lower base, demand from all verticals and manufacturing of Remdesivir
• EBITDA margins down 89 bps YoY to 29.1%, owing to higher employee and raw material expenses
• Adjusted PAT was at Rs. 66.7 crore (down 20.7%/13.7% YoY/QoQ)

Key triggers for future price performance

• The client base has grown from 256 to more than 400 over FY16-21, With elite client additions like Amgen, Zoetis, Herbalife, GSK, etc, and multiple year extension of BMS, Baxter contracts. With years of experience in operating in this niche of CRO/CRM the company is well poised to capitalise on growing opportunities globally
• Guided for mid-teen revenue growth for FY22 (which looks beatable)
• Completing an injectable fill-finish facility that will add a new capability to the formulation part of development services
• Regulatory approvals from regulated markets for Mangalore facility

For details, click on the link below: Link to the report

Shares of Syngene International Limited was last trading in BSE at Rs. 579.50 as compared to the previous close of Rs. 594.85. The total number of shares traded during the day was 28892 in over 1375 trades.

The stock hit an intraday high of Rs. 606.35 and intraday low of 575.30. The net turnover during the day was Rs. 17100644.00.

Source : Equity Bulls

Keywords

SyngeneInternational INE398R01022 SYNGENE Pharmaceuticals ICICIDirect Q2FY22 ResultUpdate