- Revenue for the quarter was ₹5320 Cr ($715 million). Growth of 8% YoY and declined 8% sequentially. YoY growth is due to good performance across all segments. Sequential decline due to high base in Q2 which had a higher contribution from COVID related products.
- Gross Profit margin for the quarter was 53.8%, increase of 40 bps QoQ. Gross margins for Global Generics were at 57.8% and PSAI were 22.5%.
- SG&A spend for the quarter was ₹1541 Cr ($207 million). Increase of 7% YoY and decline of 3% QoQ. YoY increase is due to business expansion and increased spend on sales and marketing activities.
- R&D spend for the quarter is ₹416 Cr ($66 million) at 7.8% of sales. R&D spend increased by 1% YoY and declined 7% QoQ.
- EBITDA for the quarter was at ₹1266Cr ($170 million). EBITDA margins for the quarter were 23.8%. EBITDA margins for 9 months is at 24% and is closely tracking full year guidance of 25%.
- PAT ₹970 Cr ($131 million) for the quarter. This is a growth of 242% for the year and a decline of 23% QoQ. Adjusting for impairment charges, PAT grew 10% over previous year.
- The industry faced headwinds of high input prices, price erosion across generics segment in the US market and higher freight costs.
- They have signed an agreement for the commercialization of their biosimilars in the US. They are also developing 5-7 other biosimilars in their portfolio.
- They received DCGI approval for the launch of Molnupiravir in India. They are ready with capacities to manufacture Sputnik in India. They are actively working with the Government of India to register Sputnik as a vaccine. They have also submitted a proposal to DCGI to conduct clinical trials to test Sputnik as a booster to other vaccines.
- They managed to offset the price erosion in generics with new products, increase in market share and productivity.
- There are no restrictions to export Sputnik and other COVID related products. There were no exports of COVID products by the company in Q3.
- They are expecting that the worst of the RM price increases are behind them. They do not anticipate any more price increases from here. Some RM prices have started to normalize but some have not yet come down.
- The strategy for the next few years is to continue to invest in India and other Emerging Markets. They will be launching products already in the US portfolio and use the same fixed assets. So these markets will grow faster than the US.
- Russia is a very important market for them. If there is any adversity there due to the Russia-Ukraine conflict, it may affect the business negatively. So far there has been no impact on the business.
- They are in the last stages of finishing their Health Tech platform. They have done a pilot and will begin to roll out in a phased manner. They are currently in 5 cities and will be moving to 10 cities over the next few weeks.
- They believe that taking a booster dose of the COVID vaccine every 6 months will become a regular part of our lives. They are working with the government to register Sputnik as a booster dose. If it does play out that way, it will be a nice opportunity for them.
- The price erosion in the US is not top-down or bottom-up across all products. It is more product specific. The products that are seeing increased competition saw price erosion. In their case, most of their products faced price erosion.
Thanks for sharing. I read many of your blog posts, cool, your blog is very good.
Kamagra Oral Jelly pas cher: achat kamagra – acheter kamagra site fiable
The Real Person!
The Real Person!
kamagra oral jelly: Kamagra Commander maintenant – kamagra en ligne
pharmacie en ligne avec ordonnance: Pharmacie en ligne France – pharmacie en ligne france fiable pharmafst.com
The Real Person!
The Real Person!
kamagra 100mg prix: Kamagra Oral Jelly pas cher – kamagra livraison 24h
Pharmacie Internationale en ligne: pharmacie en ligne pas cher – pharmacie en ligne fiable pharmafst.com
The Real Person!
The Real Person!
achat kamagra: kamagra oral jelly – kamagra gel
The Real Person!
The Real Person!
pharmacie en ligne livraison europe: pharmacie en ligne pas cher – acheter mГ©dicament en ligne sans ordonnance pharmafst.com
The Real Person!
The Real Person!
kamagra pas cher: Kamagra pharmacie en ligne – Kamagra pharmacie en ligne
The Real Person!
The Real Person!
achat kamagra: Achetez vos kamagra medicaments – Achetez vos kamagra medicaments
The Real Person!
The Real Person!
Pharmacie Internationale en ligne: Meilleure pharmacie en ligne – Pharmacie sans ordonnance pharmafst.com
The Real Person!
The Real Person!
pharmacie en ligne fiable: Pharmacie en ligne France – pharmacie en ligne fiable pharmafst.com
The Real Person!
The Real Person!
Pharmacie sans ordonnance: Medicaments en ligne livres en 24h – pharmacie en ligne france fiable pharmafst.com
The Real Person!
The Real Person!
Pharmacie Internationale en ligne: Pharmacie en ligne France – Pharmacie en ligne livraison Europe pharmafst.com
The Real Person!
The Real Person!
pharmacie en ligne france pas cher: Livraison rapide – pharmacie en ligne sans ordonnance pharmafst.com
The Real Person!
The Real Person!
cialis generique: Cialis en ligne – cialis generique tadalmed.shop
The Real Person!
The Real Person!
canadian pharmacy prices: Buy medicine from Canada – pharmacy canadian
The Real Person!
The Real Person!
mexico drug stores pharmacies: RxExpressMexico – mexico pharmacies prescription drugs
The Real Person!
The Real Person!
Medicine From India: Medicine From India – MedicineFromIndia
The Real Person!
The Real Person!
indian pharmacy online: MedicineFromIndia – indian pharmacy online
The Real Person!
The Real Person!
canadian discount pharmacy: Canadian pharmacy shipping to USA – canadianpharmacyworld com
buying from online mexican pharmacy Rx Express Mexico mexican online pharmacy
indian pharmacy online: Medicine From India – Medicine From India
The Real Person!
The Real Person!
the canadian drugstore: Express Rx Canada – legitimate canadian pharmacy online
Rx Express Mexico mexican drugstore online mexico pharmacy order online
indian pharmacy: Medicine From India – medicine courier from India to USA
The Real Person!
The Real Person!
mexico drug stores pharmacies: mexico pharmacies prescription drugs – best online pharmacies in mexico
mexican rx online RxExpressMexico mexican online pharmacy
The Real Person!
The Real Person!
medicine courier from India to USA: medicine courier from India to USA – indian pharmacy online shopping
indian pharmacy: indian pharmacy – MedicineFromIndia
mexican online pharmacy mexico pharmacy order online mexico pharmacies prescription drugs
The Real Person!
The Real Person!
mexico drug stores pharmacies: mexico pharmacies prescription drugs – п»їbest mexican online pharmacies
The Real Person!
The Real Person!
пинап казино: пин ап казино официальный сайт – пинап казино
The Real Person!
The Real Person!
вавада официальный сайт: vavada casino – вавада казино
The Real Person!
The Real Person!
vavada: вавада зеркало – вавада
The Real Person!
The Real Person!
pin up вход: пин ап зеркало – пин ап зеркало
The Real Person!
The Real Person!
пин ап казино официальный сайт: пин ап зеркало – пин ап казино официальный сайт
The Real Person!
The Real Person!
vavada casino: вавада казино – vavada вход
The Real Person!
The Real Person!
вавада зеркало: vavada – vavada
The Real Person!
The Real Person!
пин ап казино официальный сайт: пинап казино – pin up вход
The Real Person!
The Real Person!
vavada: вавада – vavada casino
pin-up: pin up azerbaycan – pin up az
пин ап казино: пин ап казино – пин ап вход
пин ап зеркало: пин ап казино официальный сайт – пин ап вход
вавада казино: вавада зеркало – вавада официальный сайт
vavada casino: вавада зеркало – vavada
pin up casino: pin-up – pin-up
vavada вход: вавада – vavada
pin-up: pin up azerbaycan – pin up azerbaycan
вавада официальный сайт: вавада – vavada вход
pin-up: pin up azerbaycan – pin up
vavada casino: вавада официальный сайт – вавада официальный сайт
pin up az: pin up azerbaycan – pinup az
вавада официальный сайт: vavada вход – vavada casino
пин ап казино: пинап казино – пин ап казино
The Real Person!
The Real Person!
https://pinupaz.top/# pinup az
The Real Person!
The Real Person!
legal Modafinil purchase: legal Modafinil purchase – verified Modafinil vendors
The Real Person!
The Real Person!
safe modafinil purchase: verified Modafinil vendors – doctor-reviewed advice
The Real Person!
The Real Person!
cheap Viagra online: trusted Viagra suppliers – best price for Viagra
The Real Person!
The Real Person!
verified Modafinil vendors: Modafinil for sale – buy modafinil online
The Real Person!
The Real Person!
legit Viagra online: generic sildenafil 100mg – best price for Viagra
The Real Person!
The Real Person!
fast Viagra delivery: same-day Viagra shipping – secure checkout Viagra
The Real Person!
The Real Person!
legit Viagra online: cheap Viagra online – same-day Viagra shipping
The Real Person!
The Real Person!
best price for Viagra: generic sildenafil 100mg – Viagra without prescription
The Real Person!
The Real Person!
doctor-reviewed advice: legal Modafinil purchase – modafinil pharmacy
Modafinil for sale: doctor-reviewed advice – Modafinil for sale
https://maxviagramd.shop/# fast Viagra delivery
The Real Person!
The Real Person!
modafinil 2025: modafinil pharmacy – legal Modafinil purchase
Modafinil for sale: modafinil pharmacy – safe modafinil purchase
http://modafinilmd.store/# purchase Modafinil without prescription
The Real Person!
The Real Person!
online Cialis pharmacy: reliable online pharmacy Cialis – generic tadalafil
secure checkout Viagra: generic sildenafil 100mg – order Viagra discreetly
https://maxviagramd.shop/# secure checkout Viagra
The Real Person!
The Real Person!
purchase Modafinil without prescription: purchase Modafinil without prescription – safe modafinil purchase
https://modafinilmd.store/# safe modafinil purchase
same-day Viagra shipping: legit Viagra online – safe online pharmacy
The Real Person!
The Real Person!
Cialis without prescription: FDA approved generic Cialis – secure checkout ED drugs
The Real Person!
The Real Person!
how to get generic clomid online: Clom Health – get cheap clomid without dr prescription
The Real Person!
The Real Person!
can i order clomid for sale: Clom Health – where to get clomid now
The Real Person!
The Real Person!
over the counter amoxicillin canada: Amo Health Care – Amo Health Care
The Real Person!
The Real Person!
PredniHealth: PredniHealth – PredniHealth