BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Biocon Ltd. reported lower than estimated Q4 FY21 performance.
The miss on our estimates was largely due to subdued biosimilars revenue which declined 13.7% quarter-on-quarter to Rs 6.6 billion (our estimate: Rs 8.5 billion).
Consolidated revenues grew 18.1% to Rs 18.4 billion (our estimate: Rs 19.5 billion), adjusted Ebitda margin was up 210 basis points year-on-year and QoQ to 23.7% (our estimate: 24.7%) and adjusted profit after tax declined 31.6% to Rs 970 million (our estimate: Rs 2.4 billion).
Higher selling, general and administrative expenses and employee costs kept margins in check.
However, new launches coupled with recovery in the environment would support margins in the near term.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
