Q2FY22 Result Update - Biocon Ltd - ICICI Direct

Biocon reported steady Q2FY22 results.

• Revenue was up 5.5% YoY to Rs. 1840.4 crore
• EBITDA in Q2FY22 was Rs. 445.8 crore, down 13.9% YoY with margins at 24%
• Consequent PAT was at Rs. 138.3 crore (down 18.3% YoY)

Key triggers for future price performance

• Biosimilars- 1) market share gains in existing biosimilar products in US, 2) expected approvals and launches of bBevacizumab and bAspart, 3) bGlargine ramp up post interchangeability approval and formulary registration in the US
• Geographical expansion and marketing authorisation for bBevacizumab in Australia, UK and overall biosimilar performances in MOW markets
• Developments on the vaccines front post strategic alliance with Serum
• CRAMs - Syngene Mangalore facility customer validations and approvals
• Generics - Ramp-up of Tacrolimus along with Labetalol & Esomeprazole opportunity in US with market-size ~ US$63 million & US$230 million, respectively

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

Shares of Biocon Limited was last trading in BSE at Rs. 323.95 as compared to the previous close of Rs. 345.10. The total number of shares traded during the day was 529054 in over 16350 trades.

The stock hit an intraday high of Rs. 344.40 and intraday low of 322.50. The net turnover during the day was Rs. 174797878.00.

Source : Equity Bulls

Keywords

Biocon INE376G01013 Biotechnology Q2FY22 ResultUpdate ICICIDirect