EBITDA at INR 1,217 mn, up 13.5% YoY
PAT stood at INR 1,008 mn, up 11.8% YoY
Mumbai, January 29, 2022: Eris Lifesciences Limited, a leading Indian branded formulations manufacturing company, today announced its earnings for the third quarter and nine months ended of FY22.
Consolidated Financial Highlights:
| Particulars
(INR million) |
Q3FY22 | Q3FY21 | YoY(%) | 9MFY22 | 9MFY21 | YoY(%) |
| Revenue | 3,322 | 3,104 | 7.0% | 10,411 | 9,337 | 11.5% |
| Gross Profit | 2,707 | 2,540 | 6.6% | 8,444 | 7,558 | 11.7% |
| EBITDA | 1,217 | 1,072 | 13.5% | 3,881 | 3,361 | 15.5% |
| EBITDA Margin | 36.6% | 34.5% | 210bps | 37.3% | 36.0% | 128bps |
| PAT | 1,008 | 902 | 11.8% | 3,258 | 2,869 | 13.6% |
| PAT Margin | 30.3% | 29.0% | 130bps | 31.3% | 30.7% | 57bps |
Commenting on the results, Mr. Amit Bakshi, Chairman & Managing Director of Eris Lifesciences Ltd., said, “Eris has demonstrated a 2-year CAGR of 14% since pre-Covid levels, which is nearly twice of the IPM growth of 7% p.a. Our focus on building leadership brands in fast-growing therapies coupled with several patent expiration opportunities will enable us to sustain our growth trajectory.”
Mr. Krishnakumar V, Executive Director & Chief Operating Officer of Eris Lifesciences Ltd., added, “We are on track to deliver an EPS growth of 14-15% in FY22, on the back of a 21% EPS growth delivered in FY21.We launched 4new products in the first 9 months of FY22; we have several new launches planned in Diabetes, CNS, Wellness and Women’s Health in Quarter 4.”
Q3FY22 and 9MFY22 – Financial Highlights
- RevenueforQ3FY22 grew by 7.0% YoY to INR 3,322 mn, and for 9MFY22 grew by 11.5% YoY to INR 10,411 mn
- EBITDA for Q3 FY22 grew by 13.5% YoY to INR 1,217 mn, and for 9M FY22 grew by 15.5% YoY to INR 3,881 mn
- PAT for Q3 FY 22 grew by 11.8% YoY to INR 1,008 mn, and for 9M FY22 grew by 13.6% YoY to INR 3,258 mn
Q3FY22 – Business Highlights
- Compared to the pre-Covid base, Eris has grown at a CAGR of 14% compared to the market CAGR of 7% during this period
- Eris grew at 7.8% in Q3 this year, on the back of a 14.5% growth in Q3 of last year
- Eris haslaunched a 70:30 joint venture with MJ Biopharm to leverage the market opportunity in Human Insulin, Analogues and GLP1
Corporate Comm India (CCI Newswire)
