Delhi: Akums Drugs and Pharmaceuticals Limited announced its unaudited consolidated financial results for the quarter ending June 30th, 2024.
The company’s CDMO segment which accounts for 77 per cent of total revenue and 93 per cent of the Adj EBITDA, grew to Rs 7,820 million an increase of 5.6 per cent year-on-year (YoY). This was driven by strong growth in sales volume of 13.9 per cent. Segment EBITDA also saw margin expansion of 106 bps to 15.5 per cent, growing 13.4 per cent YoY to Rs 1,212 million on the back of steady improvement in capacity utilisation and better product mix.
The branded and generic formulations segment more than doubled its EBITDA YoY, growing to Rs 171 million from Rs 74 million. This was driven by improved margins of branded domestic and export businesses and curtailed losses in the trade generics business.
The API segment saw revenue improvement of 82.6 per cent, while segment EBITDA margins improved to -17.4 per cent from -23.0 per cent in Q1 FY 24 as the company continues to strive to achieve break even in this segment.
Debt to equity improved to 0.25 times with net debt at Rs 2,128 million.
Commenting on the financial performance, Sanjeev Jain, Managing Director, Akums Drugs & Pharmaceuticals Ltd, stated, “Our Q1 results show our ongoing efforts to optimise our operations and capitalise on our strengths in the CDMO segment. We are committed to driving sustainable growth across all our business segments and delivering value to our stakeholders.”
