Q1FY22 Result Update - Syngene International - ICICI Direct

Syngene reported mixed Q1FY22 results.

- Revenues grew 41% YoY to Rs. 658.5 crore amid lower base, normalisation of all verticals and manufacturing of Remdesivir

- EBITDA margins contracted 178 bps YoY to 27.8%, owing to change in product mix

- Consequent PAT was at Rs. 77.3 crore (up 33.3% YoY)

Key triggers for future price performance

- Guided double digit revenues growth for FY22

- With elite client additions like Amgen, Zoetis, Herbalife, GSK, etc, and multiple year extension of BMS, Baxter contracts, the company remains well poised to capture opportunities in the global CRO space

- Eight of the top 10 global pharma companies have been availing services for the last five years

- The client base has grown from 256 to more than 400 over FY16-21

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

Shares of Syngene International Ltd was last trading in BSE at Rs. 627.4 as compared to the previous close of Rs. 652.8. The total number of shares traded during the day was 140360 in over 6875 trades.

The stock hit an intraday high of Rs. 664.95 and intraday low of 616.65. The net turnover during the day was Rs. 89800674.

Source : Equity Bulls

Keywords