Wockhardt tumbled 14.12% to Rs 675 after the company's the company's consolidated net loss of Rs 93 crore in Q4 FY21 compared with net profit of Rs 48 crore in Q4 FY20.
Net loss (from continuing operations) stood at Rs 106.84 crore in Q4 FY21 compared with net profit of Rs 48.73 crore in Q4 FY20. Revenue from continuing operations skid 8% to Rs 631.96 crore in Q4 FY21 as against Rs 686.93 crore in Q4 FY20. Pre-tax loss stood at Rs 178.18 crore in Q4 FY21 as against a pre-tax loss of Rs 95.13 crore in Q4 FY20.The company reported EBITDA loss of Rs 80 crore in Q4 FY21 as against EBITDA profit of Rs 37 crore in the same period last year. EBITDA margin was -12.7% in Q4 March 2021 from 4.6% in Q4 March 2020. Capital expenditure during the quarter was Rs 22 crore, which was 11% of sales.
Research and Development (R&D) expenditure during the quarter was at Rs 48 crore (8% to sales) and including capital expenditure was at 11% to sales. Capital expenditure during the quarter was Rs 22 crore. Net Debt-Equity ratio as on 31 March 2021 stood at 0.54 over 0.84 in 31 March 2020.
During the financial year, Wockhardt's net loss (from continuing operations) stood at Rs 296.73 crore in Q4 FY21 compared with net loss of Rs 137.95 crore in Q4 FY20. Net sales declined 4.77% to Rs 2,708.30 crore in Q4 FY21 over Q4 FY20.
UK business during the quarter stood at Rs 261 crore in Q4FY21 (PY Rs 229 crore) showing a growth of 14%. UK Business contributed about 41% of Global Revenue. Major growth has come from the COVID-19 Vaccine business ~5 million GBP.
Emerging markets business of the company stood at Rs 121 crore in Q4FY21 (PY Rs 133 crore). Emerging markets business contributed about 19% of the global revenue.
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India Business (both continued and discontinued operations) stood at Rs 118 crore in Q4FY21 as compared to Rs 177 crore in Q4FY20. The continuing business stood at Rs 120 in Q4FY21 (PY Rs 74 crore) registering growth of 63%. India Business contributed 19% of the global revenue.
US Business stood at Rs 95 crore in Q4FY21 compared with Rs 189 crore in Q4FY20. US Business contributed 15% of the global revenue.
During the quarter ended 31 March 2021, 5 patents were filed and the cumulative filings till date stood at 3,187. The company was granted 11 patents during the quarter and now holds 763 patents.
On 10 February 2021, Wockhardt announced six-month extension of its agreement with the UK Government to fill-finish COVID-19 vaccines. This expands the original agreement from 18 to 24 months i.e., until August 2022 and the manufacturing will continue to be undertaken at CP Pharmaceuticals, a subsidiary of Wockhardt based in Wrexham, North Wales.
As per the terms of the agreement the company has reserved manufacturing capacity to allow for the supply of multiple vaccines to the UK Government in its fight against COVID-19, including AZD1222, the vaccine co-invented by the University of Oxford and its spin-out company, Vaccitech, and licensed by AstraZeneca. In the UK, Wockhardt is one of the largest suppliers into the NHS for over 20 years, has had a presence in Wrexham for over two decades and employs over 400 people.
Wockhardt is a research based global pharmaceutical and biotech company.
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