Syngene International Q4 Results: Profit beats estimates, revenue misses Street

Syngene reported its March quarter results after market hours on April 23, posting a net profit of ₹183.3 crore, up 2.8% year-on-year. The figure was higher than CNBC-TV18’s poll estimate of ₹177 crore.

Revenue for the quarter stood at ₹1,018 crore, marking an 11% increase from ₹916.9 crore in the same period last year. However, it missed Street expectations, which pegged revenue at ₹1,066 crore.

Operationally, earnings before interest, tax, depreciation and amortisation (EBITDA) rose 8.4% year-on-year to ₹343.6 crore, versus ₹316 crore a year ago. However, it missed the expected ₹350 crore mark.

EBITDA margins stood at 33.8%, lower than 34.4% in the year-ago quarter but higher than the 33% projected.

For FY25, the company’s Board has recommended a final dividend of ₹1.25 per share, subject to shareholders' approval.

Commenting on the performance, Peter Bains, Managing Director and CEO, said, “The highlight of the quarter was the acquisition of a state-of-the-art biologics manufacturing facility in the US, strengthening Syngene’s position in the fast-growing biologics CDMO sector and providing a strategic foothold in the US market.”

He added that the company saw “robust growth” in the biologics CDMO business, supported by a mix of commercial manufacturing activity and new development projects. Syngene’s research division also contributed meaningfully to the growth, benefitting from a high rate of conversion of pilot projects into full-scale programmes in its discovery services segment.

Bains indicated that these developments position the company well for long-term growth, particularly in its biologics and research services verticals.

On the bourses, Syngene shares closed 2.5% higher at ₹754 apiece on the BSE, ahead of the earnings announcement.