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Ahmedabad (Gujarat) [India], August 12: Dishman Carbogen Amcis Ltd, a fully integrated CRAMS (Contract Research & Manufacturing) company with strong capabilities right from process research & development to late stage clinical and commercial manufacturing and supply of API to innovator pharmaceutical companies, announces their first quarter (Q1FY23) results.
Financial performance
Consolidated Q1FY23 review
- Net revenue was Rs. 5,406mn for Q1 FY23 as compared to Rs. 5,507mn in the corresponding period of the previous year
- EBITDA stood at Rs. 904 mn for Q1 FY23 as compared to Rs. 1,006 mn during the corresponding period of previous year
- EBITDA Margin at 16.7% for Q1 FY23 as against 18.3% in Q1 FY22
- Net Profit stood at Rs. 40 mn for Q1 FY23 as compared to Rs. 160 mn in the corresponding period of the previous year
Q1 FY23Result Highlights
- Net Revenue at Rs 5,406 mn in Q1 FY23 down by 1.8% YoY mainly on account of lower revenues from Netherlands business.
- Dishman Carbogen Amcis – NCE APIs and Intermediates revenue increased by 91.9% YoY primarily due to:
- Increased supplies of APIs and intermediates from Bavla site driven by successful customer audits.
- Dishman Carbogen Amcis – Quats and Generics revenue increased by 7.1% YoY primarily due to:
- Increased demand for these products especially in the exports market driven by exceptional operational performance by Naroda site.
- Carbogen Amcis – CRAMS revenue increased by 3.0% YoY primarily due to:
- Higher Development revenue comprising 70% of the total revenue for the quarter.
- Carbogen Amcis – Cholesterol and Vitamin D analogues revenue decreased by 46.0% YoY primarily due to:
- Carbogen Amcis BV’s Q1FY22 revenue was almost 38% of the total year’s revenue, thus extremely front ended, which is not the case this year. One of the customers last year had stocked up huge amount of inventory in June quarter.
- EBITDA Margin at 16.3% in Q1 FY23 compared to 18.3% in Q1 FY22 due to:
- Higher energy costs and higher raw material costs impacted the cost base significantly in Carbogen Amcis BV in the first quarter as compared to last year same quarter.
- Higher logistics costs have also impacted the cost base globally.
- One time FX loss impact approximately Rs. 9.00 crores as part of “Other Expenses”
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