26 April 2019 | News
FY19 Revenue Up 31% at Rs 5,659 Cr
image credit- invoicera.com
Biocon Ltd, Asia's premier biopharmaceuticals company, today announced its consolidated financial results for the fourth quarter and fiscal year ended March 31st , 2019.
Commenting on the highlights, Kiran Mazumdar-Shaw, Chairperson & Managing Director, stated:
“Our Q4 FY19 performance was led by robust growth in our Biologics and Research Services business segments, supported by a significant growth in the Small Molecules business.
“On an annual basis, our Revenue grew 31% to Rs 5,659 Crore, and Net Profit soared 143% to Rs 905 Crore. FY19 was a landmark year for the Biologics business, which reported a growth of 97%, thus emerging as a key driver for Biocon’s incremental growth. Our three strategic business segments Small Molecules, Biologics and Research Services have reported a top-line of over Rs 1,500 Crore each this fiscal. A higher share of Biologics revenue boosted profitability as reflected in the consolidated EBITDA margin of 27% for the full year despite a 34% increase in Net R&D expenses.
“Looking ahead in FY20, we expect to sustain the growth momentum across our business segments led by biosimilars. We expect to sustain core EBITDA margins despite higher R&D investments to fuel our future growth.”
Biologics revenue nearly doubled, led by biosimilars portfolio performance in developed and emerging markets.
Branded Formulations India business reported a strong double digit growth which was offset by a decline in UAE.
Generic Formulations business grew multi-fold off a low base, reflecting our focus on vertical integration in the Small Molecules business
Research Services subsidiary Syngene crossed the Rs 500 Crore Revenue milestone with a Net Profit milestone of Rs 100 Crore in Q4 on a standalone basis.
To commemorate the 40th anniversary of Biocon Limited the Board recommended the issue of 1 bonus share for every 1 share held in Biocon.