BAL Pharma reports H1FY22 results with 290% growth in PAT, led by strong performance of its API business
BAL Pharma reports H1FY22 results with 290% growth in PAT, led by strong performance of its API business |
[15-November-2021] |
BENGALURU, India, Nov. 15, 2021 /PRNewswire/ -- BAL Pharma, a fully integrated pharmaceutical company specialized in Prescription Drugs, Generics, pharma intermediates, and Bulk Actives has announced its results for the second quarter and half year ended on 30th September 2021. Financial Highlights – Q2 & H1FY22
The Company has delivered an all-round performance for H1FY22 with Revenue registering a growth of 19%, EBITDA grew by 7% and PAT grew by 44%. Companies API's business has been witnessing strong momentum which is driving overall growth of its standalone business. Company's standalone business comprises of majority of operating business.
Financial Highlights- H1FY22
API Business:
Formulations Business:
Commenting on financial results, Mr. Shailesh Siroya, Managing Director, BAL Pharma said, "The financial performance for H1FY22 has been quite encouraging for especially on API front. Post easing of Covid related supply chain and logistical issues, the company has been able to report a strong recovery in growth. On API front, export markets were quite buoyant and has witnessed significant improvement over previous year. The Company would keep focussing on key therapeutic areas affecting Lifestyle disorders, and Exports are expected to drive the growth momentum going head." "It was tactically decided to restrict export of formulations in Q2FY22 due to unfavourable market conditions. Higher raw material costs, freight costs made it uneconomical to take FDF export orders. On Formulations front, company has been continuously focussing on improving Domestic market share. Domestic formulations market has been improving traction on continuous basis. Domestic FDF grew by 13% for H1FY22 and 16% QoQ basis. Company has laid out an outlay to improve market share in domestic formulations market by strengthening medical representative team and have new product launches over period of time. BAL Pharma plans to launch Gliclazide MR 30 and 60 mg in the EU market, and is expected to file dossier in Q1FY23. Though Africa and Latin America remains the dominant market for export formulations, the company is targeting increasing its presence in various other geographies like Southeast Asia and CIS countries." "Our Strategy over medium to long-term remains to focus on API exports and Domestic formulations and simultaneously strengthening our balance sheet as well. Our product opportunities are encouraging and we expect demand to remain buoyant going ahead in the current fiscal year". About BAL Pharma Ltd (BPL) BAL Pharma Limited (BSE: 524824) (NSE: BALPHARMA) is a fully integrated pharmaceutical company specialized in Prescription Drugs, Generics, pharma intermediates and Bulk Actives. BAL Pharma's focused therapeutic areas are oncology, diabetes, gastroenterology, and dermatology, The Company is one of the largest producers and exporters of Gliclazide, a medicine to treat type-2 diabetes. BAL Pharma's niche APIs and FDFs are produced at world class manufacturing facilities located at Karnataka, Maharashtra, Rajasthan and Uttarakhand. The Company exports APIs to Europe, Australia, Japan, Far East, Canada, Latin America, Africa, Middle East and other World markets. Its FDFs are exported to Semi-regulated, Non-regulated market, and a select regulated market, besides having a robust domestic presence. Backed by strength in Research and Development, and strong infrastructure, BAL Pharma is poised to become a significant company in the pharmaceutical industry. Forward-Looking Statement: Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. BAL Pharma Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Company Codes: Bombay:524824, Bombay:BALPHARMA.BO, India:BALAXI.NS, India:BALPHARMA, India:EQBALPHARMA |
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