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Lincoln Pharmaceuticals Ltd reports Standalone Net Profit of Rs. 17.38 crore in Q1FY22



2021-10-25 02:38:20 Business

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Ahmedabad, August 10, 2021: Lincoln Pharmaceuticals Limited, one of India\'s leading healthcare companies has reported a standalone net profit of Rs. 17.38 crore for the Q1FY22 ended June 2021 as against net profit of Rs. 14.99 crore in the corresponding period last year, growth of 15.92%. Net revenue from operations in Q1FY22 was reported at Rs. 122.06 crore, higher by 18.49% over previous fiscal’s same quarter net revenue of Rs. 103.01 crore.

EBITDA for Q1FY22 was reported at Rs. 26.31 crore, rise of 17.37% as compared to EBITDA of Rs. 22.42 crore in Q1FY21. In Q1FY22, EPS for Q1FY22 was at Rs. 8.69 per share as compared to Rs. 7.50 in the corresponding period last year.

Commenting on the results and performance, Mr. Mahendra Patel, Managing Director, Lincoln Pharmaceuticals Limited, said, \"We are confident to improve our growth numbers of revenue, margins and profitability in FY22. Our strategic growth initiatives, product and geographical expansion, operational efficiency and debt free status are likely to maximise value for all stakeholders in the near to medium term. For the FY 21-22 company is looking at a sales growth of 15-20% while maintaining healthy EBITA and Net profit margins. Expanding the product basket, company plans to introduce 6-7new products in the domestic markets and expects 20 -25 new dossiers approval for the exports market. Exports to EU markets are likely to commence from Q4FY22.\"

Over the last 5 years, company has delivered a robust 20% plus CAGR in profits and higher single digit growth in sales. The liquidity position of the company is on a strong foundation, supported by healthy cash accruals, no term debt and healthy return ratios. Backed by improvement in the company’s financial risk profile, steady growth in scale & margins, healthy profitability, rating agency ICRA has upgraded the company’s long-term and short-term bank facilities to A and A1 respectively.

During Q1FY22 ended June 2021, promoter group of Lincoln Pharmaceuticals Ltd increased holding in the company to 37.78% - rise of 52 bps, from 37.26% as of March 31, 2021. Promoter group bought 1.04 lakh shares from the secondary market during the quarter. During FY21 also promoter group through creeping acquisition raised stake in the company to 37.26% - rise of 500 bps, from 32.36% in FY20.

Exports for Q1FY22 was reported at Rs. 69.76 crore. Export business of the company has shown remarkable growth in the last few years and had increased to 65% of total sales in FY21 from 11% of total sales in FY13. Company currently exports to 60 plus countries including East & West Africa, Central & Latin America and Southeast Asia. For the FY21, exports grew 18.4% to Rs. 270 crore.

Company is witnessing good traction in the export business, which is expected to get further boost once EU operations begins. Company is building a strong portfolio in lifestyle and chronic segments especially dermatology, gastro and pain management to complement its strong presence in the acute segment.

Lincoln Pharma has a state-of-the-art manufacturing facility unit at Khatraj in Ahmedabad, Gujarat, complying with stringent international quality and compliance norms and certified by EUGMP, WHO-GMP and ISO-9001: 2015. Company has developed 600 plus formulations in 15 therapeutic areas and has a strong product/brand portfolio in anti-infective, respiratory system, gynaecology, cardio & CNS, anti-bacterial, ant-diabetic, anti-malaria among others. Company has filled 25 plus patent applications and is awarded with seven patents. Company has a strong presence in the domestic market nationally with a dedicated field force of over 600 personnel who cater to more than 30,000 doctors, chemists across the country.

User :- Gopal Modi

Email :-gopal@coldcococonsultancy.com


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