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Syngene International Q4FY23 reports 21% higher PAT on overall revenue boost

Apr 27, 2023

By: BlinkX Research Team

Syngene International reported 31.2% growth in total revenues for the March 2023 quarter on consolidated basis at Rs994.40cr. The revenues were also higher by 26.5% on a sequential basis. The company, a unit of Biocon Ltd, is into contract research and management services (CRAMS), one of the fast growing segments of pharma sector.

The company has proposed  dividend of Rs1 per share representing 10% pay-out on the par value. The company is likely to be a big beneficiary of the product linked incentive (PLI) scheme which intends to support such activities of enhancing production in India, contracting research and import substitution.

Financial highlights for Mar-23 compared yoy and sequentially

Net profits were higher by 20.9% at Rs178.7 crore as expenses on inputs and manpower grew faster than the growth in revenues. This remains a higher people intensive and specialized task. On a yoy basis, the Net margins fell by 153 bps to 17.97% due to the higher sales base in the current quarter.