Q3FY22 Result Update - Biocon Ltd - ICICI Direct

Biocon reported better traction in Q3FY22 results.

• Revenue was up 17.5% YoY to Rs. 2174.2 crore
• EBITDA in Q3FY22 was Rs. 488.2 crore, up 22.2% YoY with margins at 22.5%
• Consequent adjusted PAT was at Rs. 187.1 crore (up 11% YoY)

Key triggers for future price performance

• Biosimilars- 1) market share gains in existing biosimilar products in the 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 most of the world (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 along with new launches

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

Shares of Biocon Limited was last trading in BSE at Rs. 376.60 as compared to the previous close of Rs. 363.90. The total number of shares traded during the day was 312016 in over 6466 trades.

The stock hit an intraday high of Rs. 382.45 and intraday low of 356.05. The net turnover during the day was Rs. 116845539.00.

Source : Equity Bulls

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Biocon INE376G01013 Q3FY22 ResultUpdate ICICIDirect