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Revenue
₹7,580 Cr
verified against source
Revenue YoY
17%
reported change
EBITDA
₹1,687 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
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What the record says.
Aurobindo Pharma delivered a strong Q4 FY24 with revenue of INR 7,850 crore (+17% YoY) and EBITDA of INR 1,687 crore (+68% YoY), driven by volume gains, new product launches, stable pricing, and raw material cost softening. EBITDA margin expanded 680 bps YoY to 22.3%, while PAT grew 80% to INR 909 crore. US formulation revenue rose 22% to INR 3,588 crore, and Europe grew 10% to INR 1,832 crore. Management guided for FY25 EBITDA margin of 21%-22%, supported by ramp-up of Pen-G and 6-APA facilities, though Eugia 3's OAI status poses a near-term risk to injectable growth. Biosimilar pipeline advances with trastuzumab filing in US expected within 3 months. Key risk: Eugia 3 remediation may delay approvals and impact injectable revenue trajectory.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects EBITDA margin to improve to 21%-22% in FY25, driven by operating leverage and ramp-up of new capacities.
- Pen-G and 6-APA facilities will start meaningful contribution from Q3 FY25, with full ramp-up expected by September 2024.
- Eugia expects to maintain a global revenue run rate of $150 million per year, with US contributing $100-$110 million.
- Trastuzumab biosimilar to be filed with US FDA within the next 3 months, following a successful Type 4 pre-submission meeting.
Risks flagged
- Eugia 3 plant classified as OAI; 29 pending ANDAs may be stuck for at least 1 year, impacting injectable growth.
- Management expects meaningful biosimilar revenue only by 2027-2028, later than some investor expectations.
- Pen-G fermentation is complex; yield optimization will only be addressed by September, posing execution risk.
- Management is conservative on Ryzneuta (pegfilgrastim biosimilar) launch, citing multiple competitors and uncertain pricing.
Key quotes
- We expect to achieve around a 21%-22% EBITDA margin target set internally for the year.
- I am very optimistic about a product like Omalizumab, where we will be probably one of the four companies to vie for the U.S. and the European market.
- We have taken whatever sales hit what we wanted to taken in Q4 of last year, okay? Now, Q1 onwards, it should be normal.
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