| Highlights:-
· Net revenues in Q2 FY22 at Rs. 129.41 crore, up 4.78% from Rs. 123.51 crore in Q2 FY21
· Promoter Group during H1FY22 increased holding in the company to 40.28% – rise of 3.02%
· Plans to launch Cephalosporin products; To invest Rs. 30 crore for expansion
· Approved a dividend of Rs. 1.50 per share for the FY20-21 at the 27thAGM held on 30th Sep, 2021 |
Financial Highlights (Standalone)
(Amount in Cr except EPS)
| |
Q2 FY22 |
Q2 FY21 |
Y-O-Y |
H1 FY22 |
H1FY21 |
Y-O-Y |
| Net Revenue from Operations |
129.41 |
123.51 |
4.78% |
251.47 |
226.52 |
11.01% |
| EBITDA |
31.95 |
29.02 |
10.10% |
58.26 |
51.43 |
13.28% |
| Profit before Tax |
30.24 |
27.39 |
10.41% |
54.73 |
48.07 |
13.85% |
| Net Profit |
22.88 |
20.20 |
13.27% |
40.26 |
35.19 |
14.41% |
| E.P.S (Rs. ) |
11.44 |
10.10 |
13.27% |
20.13 |
17.59 |
14.41% |
November 11, 2021: Lincoln Pharmaceuticals Limited, one of India’s leading healthcare companies has reported a net profit of Rs. 22.88 crore for the Q2 FY22 ended September 2021 as against a net profit of Rs. 20.20 crore in the corresponding period last year, a growth of 13.27%. Net revenue for the quarter ended September 2021 was reported at Rs. 129.41 crore, higher by 4.78% over previous fiscal’s same period net revenue of Rs. 123.51 crore. EBITDA for the quarter ended September 2021 was reported at Rs. 31.95 crore as compared to Rs. 29.02 crore in the corresponding period last year. EPS was reported at Rs. 11.44 per share for Q2FY22 as compared to Rs. 10.10 per share in the corresponding period last year. The company approved a dividend of Rs. 1.50/- per share for FY 20-21 at the 27thAGM held on 30th September 2021.
Recently the company acquired a plant in Mehsana, Gujarat, and plans to launch Cephalosporin products. The company plans to invest Rs. 30 crore for the expansion and expects commercial operations from March 2022. The plant is expected to contribute sales of around Rs. 150 crores in the next 3 years. The plant will cater to all the Cephalosporin products i.e. Tablet, Capsule, Dry syrup, and Injectable.
Commenting on the results and performance, Mr. Mahendra Patel, Managing Director, Lincoln Pharmaceuticals Limited, said, “Company has delivered a robust operational and financial performance during the quarter and is confident to improve our growth numbers going forward. Recently the company has also received approval from Australia’s medicines and medical devices regulator – Therapeutic Goods Administration (TGA) for its Khatraj facility. TGA and EU GMP approvals will further strengthen the company’s presence in the export market. Strategic growth initiatives, product and geographical expansion, operational efficiency are likely to maximize value for all stakeholders in the near to medium term.”
Highlights: – H1FY22 Results
The company reported net profit of Rs. 40.26 crore for the H1FY22 ended September 2021 as against a net profit of Rs. 35.19 crore in the corresponding period last year, a growth of 14.41%. Net revenue for the half-year ended September 2021 was reported at Rs. 251.47 crore, higher by 11.01% over previous fiscal’s same period net revenue of Rs. 226.52 crore. EBITDA for the half-year ended September 2021 was reported at Rs. 58.26 crore as compared to Rs. 51.43 crore in the corresponding period last year. EPS was at Rs. 20.13 per share for H1FY22 as compared to Rs. 17.59 in the corresponding period last year.
During H1FY22 ended September 2021, promoter group of Lincoln Pharmaceuticals Ltd increased holding in the company to 40.28% – the rise of 3.02% (302 bps) from 37.26% as of 31 March 2021. Promoter group bought 6.03 lakh shares from the secondary market during H1FY22. During FY21, promoter group through creeping acquisition raised stake in the company to 37.26% – the rise of 5% (500 bps) from 32.36% in FY20.
Exports for Q2 FY22 were reported at Rs. 133.08 crore. The export business of the company has shown remarkable growth in the last few years and had increased to 65% of total sales in FY21 from 11% of total sales in FY13. Company currently exports to 60 plus countries including East & West Africa, Central & Latin America, and Southeast Asia. The company looks to enter the EU markets during the current financial year.
Over the last 5 years, Lincoln Pharmaceuticals Ltd has delivered a robust 20% plus CAGR in profits and higher single-digit growth in sales. The liquidity position of the company is on a strong foundation, supported by healthy cash accruals, no term debt, and healthy return ratios. Backed by improvement in the company’s financial risk profile, steady growth in scale & margins, healthy profitability, rating agency ICRA has upgraded the company’s long-term and short-term bank facilities to A and A1 respectively.
Lincoln Pharma has a state-of-the-art manufacturing facility unit at Khatraj in Ahmedabad, Gujarat, complying with stringent international quality and compliance norms and certified by EUGMP, WHO-GMP, and ISO-9001: 2015. The company has developed 600 plus formulations in 15 therapeutic areas and has a strong product/brand portfolio in anti-infective, respiratory system, gynecology, cardio & CNS, anti-bacterial, anti-diabetic, anti-malaria among others. The company has filed 25 plus patent applications and is awarded seven patents. The company has a strong presence in the domestic market nationally with a dedicated field force of over 600 personnel who cater to more than 30,000 doctors, chemists across the country.
