BIOCON LTD. - 532523 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
Presentation and Video Recording of Q1 FY24 Earnings Call11-08-2023
11-08-2023
BIOCON LTD. - 532523 - Announcement under Regulation 30 (LODR)-Investor Presentation
Investor Presentation-Q1 FY2411-08-2023
Q1FY24 Quarterly Result Announced for Biocon Ltd.
Biotechnology company Biocon announced Q1FY24 results: Consolidated revenues for Q1FY24 grew 59% YoY to Rs 3,516 crore. Core EBITDA grew 42% to Rs 936 crore, representing healthy core operating margins of 28% Net R&D; investments for Q1FY24 grew by 59% to Rs 315 crore, representing 12% of revenues ex-Syngene. EBITDA for Q1FY24 increased by 69% to Rs 808 crore, representing an EBITDA margin of 23% versus 22% in Q1FY23. Depreciation, amortisation, and interest increased by Rs 353 crores over last year. This is primarily related to the biosimilar business acquisition cost. Consequently, profit before tax stood at Rs 184 crore. Net profit for Q1FY24, before minority interest was Rs 149 crore. Net profit for Q1FY24 stood at Rs 101 crore. "We have had a strong start to the year. At a consolidated level, revenues rose 59% YoY to Rs 3,516 crore driven primarily by the 106% jump in Biosimilars revenue. Research Services revenue rose 25%, and Generics reported 15% growth. Our Core EBITDA for the quarter was up 42% at Rs 936 crore, reflecting a margin of 28%. R&D; investments at Rs 315 crore increased by Rs 117 crore this quarter, reflecting our advancing pipeline, which will support future growth. Our key biosimilars are gaining traction in both U.S. and Europe with Fulphila becoming the leading biosimilar Pegfilgrastim in the U.S. and biosimilar Glargine’s market share crossing the 12% mark. A higher new prescription share reflects the prescriber confidence in our portfolio and the overall improvement in the adoption of biosimilars.” said Kiran Mazumdar-Shaw, Executive Chairperson, Biocon and Biocon Biologics. “The Generics business delivered a healthy 15% YoY revenue growth, driven by growth in our formulations business in the U.S. and new product launches in a few key MoW markets. We also saw a volume increase in immunosuppressant APIs. Our product pipeline continues to advance with an approval for Vigabatrin tablets and a tentative approval for Lenalidomide capsules in the U.S., and for Mycophenolic acid tablets in Europe. The positive outcome of the two U.S. FDA inspections at our Hyderabad API and Bengaluru OSD sites will help in accelerating new product approvals. We continue to make investments for future growth, with work having commenced on the expansion of our peptide and fermentation capacities in Bengaluru, with a timeline for completion in the second half of FY25.” said Siddharth Mittal, CEO & Managing Director, Biocon. Result PDF11-08-2023
BIOCON LTD. - 532523 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
Press Release10-08-2023
BIOCON LTD. - 532523 - Announcement under Regulation 30 (LODR)-Press Release / Media Release (Revised)
Revised Press Release10-08-2023
BIOCON LTD. - 532523 - Announcement under Regulation 30 (LODR)-Change in Directorate
Appointment of Director10-08-2023
BIOCON LTD. - 532523 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
Press Release titled ''Biocon Foundation and Shakti Sustainable Energy Foundation organize Cities and Climate Action Workshop''10-08-2023
BIOCON LTD. - 532523 - Announcement under Regulation 30 (LODR)-Credit Rating
Credit Rating by ICRA Limited05-08-2023