Q3FY22 Result Update - Syngene International - ICICI Direct

Syngene reported upbeat numbers in Q3FY22.

• Revenues grew 9.7% YoY to Rs. 641.4 crore
• EBITDA margins improved 157 bps YoY to 31.7%
• Net profit was at Rs. 104 crore (up 1.8% YoY)

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
• Phase III expansion (~250 scientists) in Hyderabad to be completed in FY22 and a new dedicated laboratory for Amgen to scale-up small molecules
• 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. 596.75 as compared to the previous close of Rs. 607.50. The total number of shares traded during the day was 19850 in over 1171 trades.

The stock hit an intraday high of Rs. 613.30 and intraday low of 590.85. The net turnover during the day was Rs. 11920435.00.

Source : Equity Bulls

Keywords

SyngeneInternational INE398R01022 Q3FY22 ResultUpdate ICICIDirect