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Morepen Laboratories Q4 revenue up 28%

  • May 05, 2022, 03.45 PM
  • DealMoney News Service

Morepen Laboratories Limited, a reputed name for quality pharma products, has reported impressive performance by recording 30 per cent growth in its FY’22 annual revenues at Rs. 1557.13 cr. Consolidated profit before tax (PBT) at Rs. 126.70 crore has risen by 29 percent in FY22 and profit after Tax (PAT) at Rs. 101.68 crore is up by 5 percent on y-o-y basis in FY22.

Q4’FY22 revenues at Rs. 371.46 crore. have registered a growth of 28% and marginally lower than the Q3’FY22 which stood at Rs. 399.19 cr.

The revenue growth in the Q4 was backed by substantial jump of 37 percent in the API business at Rs. 234.55 crore, followed by Formulation and OTC business at Rs. 38.57 Crore and Rs. 27.00 crore, which grew by 34 percent & 20 percent respectively. Q4’FY22, Diagnostic Devices revenues at Rs. 68.21 crore grew by 9 per cent on quarterly basis, whereas a huge revenue growth of 56 percent was recorded for nine months period ending December 31, 2021, at Rs. 350.71 crore.

Overall EBITDA growth of 13 percent at Rs.146.98 cr. for FY’22 is lower as compared to first three quarters of the year (9M’FY22).  Because of increased input costs and higher spend on marketing and sales activities, EBIDTA margins in Q4’FY22 have degrown to 5.88 percent against 11.89 percent in corresponding quarter last year.

Annual FY’22 API business at Rs. 858.46 cr. has grown up by 26 percent on the strength of solid growth of 45 percent in domestic API business. Q4’FY22 revenues at Rs. 234.55 cr. are up by 37 percent. The share of export business in Q4’FY22 sales revenues, is at 70 percent whereas on annual FY22 basis it is at 64 percent.Q4’FY22 revenues at Rs. 234.55 cr. are up by 37 percent.

Point of Care (POC) Medical Devices business at Rs. 418.92 crore for FY22 has registered a growth of 46 percent. On strength of 10 percent growth in Blood Gluco business, Q4’FY22 revenues at Rs. 68.21 cr. has registered a growth of 9 percent. With annual FY22 Blood Gluco business at Rs. 278.64 crore and BP monitor revenue at Rs. 84.01 cr., substantial revenue growth of 54 percent and 33 percent have been recorded during the year on y-o-y basis.

OTC and nutrition business promoted under umbrella brand Dr. Morepen has registered an annual growth of 24 percent on y-o-y basis, with Q4’FY22 revenue growing at 20 percent. OTC range of products with annual revenues of Rs. 52.43 crore have recorded 13 percent growth on y-o-y basis.