Ahmedabad (Gujarat) [India], August 11 (ANI/PNN): Dishman Carbogen Amcis Ltd, a fully integrated CRAMS (Contract Research and Manufacturing) company with strong capabilities right from process research and development to late-stage clinical and commercial manufacturing and supply of API to innovator pharmaceutical companies, have announced their first quarter (Q1FY23) results.

Financial performance

Consolidated Q1FY23 review

Consolidated Q1FY23 review

- Net revenue was Rs 5,406mn for Q1 FY23 as compared to Rs 5,507mn in the corresponding period of the previous year

- EBITDA stood at Rs 904 mn for Q1 FY23 as compared to Rs 1,006 mn during the corresponding period of previous year

- EBITDA Margin at 16.7 per cent for Q1 FY23 as against 18.3 per cent in Q1 FY22

- Net Profit stood at Rs 40 mn for Q1 FY23 as compared to Rs 160 mn in the corresponding period of the previous year

Q1 FY23Result Highlights

- Net Revenue at Rs 5,406 mn in Q1 FY23 down by 1.8 per cent YoY mainly on account of lower revenues from Netherlands business.

- Dishman Carbogen Amcis - NCE APIs and Intermediates revenue increased by 91.9 per cent YoY primarily due to:

- Increased supplies of APIs and intermediates from Bavla site driven by successful customer audits.

- Dishman Carbogen Amcis - Quats and Generics revenue increased by 7.1 per cent YoY primarily due to:

- Increased demand for these products especially in the exports market driven by exceptional operational performance by Naroda site.

- Carbogen Amcis - CRAMS revenue increased by 3.0 per cent YoY primarily due to:

- Higher Development revenue comprising 70 per cent of the total revenue for the quarter.

- Carbogen Amcis - Cholesterol and Vitamin D analogues revenue decreased by 46.0 per cent YoY primarily due to:

- Carbogen Amcis BV's Q1FY22 revenue was almost 38 per cent of the total year's revenue, thus extremely front-ended, which is not the case this year. One of the customers last year had stocked up huge amount of inventory in June quarter.

- EBITDA Margin at 16.3 per cent in Q1 FY23 compared to 18.3 per cent in Q1 FY22 due to:

- Higher energy costs and higher raw material costs impacted the cost base significantly in Carbogen Amcis BV in the first quarter as compared to last year same quarter.

- Higher logistics costs have also impacted the cost base globally.

- One time FX loss impact approximately Rs 9.00 crores as part of "Other Expenses"

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