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Wanbury Ltd, one of India’s fastest growing pharmaceutical company having a presence in API global market and domestic branded Formulation, reported a 696 per cent year-on-year (Y-o-Y) growth in net profit at Rs 8.3 crore for the quarter that ended on March 31, 2024.
The company registered a 15% growth in revenue and four-fold jump in its net profits on (Y-o-Y) basis. The growth in revenue is attributed to an increase in sales of key API products in Europe, Brazil, and China. The company’s export quantity for key products has gained significant market share on a year-over-year basis.
The overall capacity utilization in our two US FDA-approved plants for key products has exceeded 90 per cent quarter-on-quarter due to robust demand and efficient plant operations.
The company is also focusing on debottlenecking and planning capacity expansion for key products. Better inventory management and strategic contracts for critical raw materials, along with various strategic engineering and operational initiatives, led to productivity improvement, yield improvement, and overall profitability.
Commenting on the performance, Mohan Rayana, Director, Wanbury Ltd. said, “The company is confident of continuing this growth journey in the coming year by expanding the customer base and increasing the share of business with existing customers. This will be coupled with plant capacity expansion for key products, development of new APIs, and entry into new therapeutic segments in the formulation business. Multiple business transformation projects have been implemented to further enhance efficiency and productivity, laying the foundation for our next phase of growth.”
