Akums Drugs and Pharmaceuticals reported consolidated net profit of Rs 60.17 crore in Q1 FY25 as compared with net loss of Rs 188.23 crore reported in Q1 FY24.
Revenue from operations was at Rs 1,019 crore in the quarter ended 30 June 2024, up 5.06% as against Rs 969.89 crore posted in corresponding quarter last year.
Profit before tax stood at Rs 87.47 crore in Q1 FY25 as compared pre-tax loss of Rs 158.79 crore reported in Q1 FY24.
The firm reported quarterly EBITDA of Rs 130.70 crore in Q1 FY25, registering a growth of 21.01% year on year. EBITDA margin improved to 12.7% in Q1 FY25 as compared to 11% recorded in the corresponding quarter previous year.
The companys revenue from CMDO business was at Rs 782 crore in Q1 FY25, up 5.60% as against with Rs 740.50 crore posted in Q1 FY24. This was driven by strong growth in sales volume of 13.9%.
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Branded and generic formulations segment revenue stood at Rs 167.40 crore during the quarter, marking a de-growth of 12.49% year on year basis.
The API segment revenue jumped 82.46% to Rs 69.70 crore in Q1 FY25 as against with Rs 38.20 crore posted in the corresponding quarter previous year.
As on 30 June 2024, debt to equity improved to 0.25 times with net debt at Rs 212.80 crore.
Commenting on the financial performance, Sanjeev Jain, MD, Akums Drugs & Pharmaceuticals, stated, "Our Q1 results show our ongoing efforts to optimize our operations and capitalise on our strengths in the CDMO segment. We are committed to driving sustainable growth across all our business segments and delivering value to our stakeholders."
Meanwhile, the companys board announced the new Injectable facility housed in Akums Healthcare started commercial production on 22 August 2024, with a capacity of 362 million units annually. Akums already has a significant presence in injectable CDMO space and this new facility is expected to consolidate its leadership position in Indian CDMO market.
Further, the board of directors, approved a plan to set up two production facilities in Jammu at an overall investment of Rs 265 crore. These will be multi-dosage facilities across pharmaceutical and nutraceutical products.
Speaking on the companys plans, Sandeep Jain, MD, Akums Drugs & Pharmaceuticals, said, The launch of our injectable facility and the Jammu expansion are key steps in our strategy to enhance our production capabilities. These developments, coupled with our ongoing efforts in R&D and innovation, are aligned with our endeavour to respond effectively to the evolving demands of our clients and the healthcare industry.
Lastly, the companys board appointment Amrut Medhekar as a Chief Executive Officer, CDMO business with effect from 24 August, 2024.
Akums Drugs and Pharmaceuticals is a pharmaceutical contract development and manufacturing organization (CDMO) offering a comprehensive range of pharmaceutical products and services in India and overseas.
The script slipped 2.97% to currently trade at Rs 913.05 on the BSE.
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