Eris Lifesciences Limited Q3FY22 Revenues at INR 3,322 mn, up 7.0% YoY

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)