Lincoln Pharmaceuticals Ltd reports Standalone Net Profit of Rs. 28.04 crore in Q3 FY24, 29.75% rise Y-o-Y

▴ Lincoln Pharmaceuticals Ltd
The company currently exports to over 60 countries across East & West Africa, Central, North & Latin America, and Southeast Asia. Recently, exports to Canada have commenced. With approvals from TGA - Australia and EU GMP, the company anticipates expanding its network to over 90 countries, further enhancing its global presence.

Company achieved Profit Before Tax of Rs. 100.02 crores for 9M FY24 ended December 2023, close to the figure of Profit Before Tax of Rs. 100.45 Crores achieved for the full 12 months of FY 23

 

Highlights:-

  • Total Income in Q3 FY24 at Rs. 157.47 crore, up 12% from Rs. 140.12 crore in Q3 FY23
  • Foreign Institutional Investor gradually increased stake in the company to 3.22% as on 31 December 2023 from 1.44% as on 31 December 2022
  • Company has over 1,700 registered products and an additional 700 in various stages of development.

 

Financial Highlights (Standalone)

(Amount in Cr except EPS)

Particulars

Q3 FY24

Q3 FY23

Y-O-Y

(%)

9M FY24

9M FY23

Y-O-Y (%)

Total Income from Operation

157.47

140.12

12.38%

465.46

416.39

11.78%

EBITDA

40.67

33.09

22.91%

108.93

91.10

19.57%

Profit before Tax

37.71

30.52

23.56%

100.02

83.47

19.83%

Net Profit

28.04

21.61

29.75%

74.71

60.34

23.84%

E.P.S (Rs.)

14.00

10.79

29.75%

37.30

30.12

23.84%

 

Ahmedabad (Gujarat) February 08, 2024: Lincoln Pharmaceuticals Limited, one of India's leading healthcare companies has reported net profit of Rs. 28.04 crore for the Q3 FY24 ended December 2023 as against net profit of Rs. 21.61 crore in the corresponding period last year, growth of 29.75%. Total Income from operations for the Q3 FY24 was reported at Rs. 157.47 crore, higher by 12.38 % over previous fiscal’s same period Total Income of Rs. 140.12 crore. Company reported EBITDA of Rs. 40.67 crore in Q3 FY24, rise of 22.91 % as compared to Rs. 33.09 crore in the corresponding period last year. EPS for Q3FY24 was at Rs. 14.00 per share as compared to Rs. 10.79 in the corresponding period last year.

 

Company achieved Profit Before Tax (PBT) of Rs. 100.02 crores for 9M FY24 ended December 2023, close to the figure of PBT of Rs. 100.45 Crores achieved for the full 12 months of FY 23. As of December 2023, Foreign Institutional Investors (FIIs) have steadily raised their holding in the company to 3.22%. FII holding in the company as on December 2022 was 1.44%. 

 

The company's emphasis on innovation and expansion is evident with impressive portfolio of over 1,700 registered products and an additional 700 in various stages of development. In FY24, the company aims to strengthen its portfolio in lifestyle, chronic, women's healthcare, and dermatology segments, complementing its established presence in acute care. In FY23, it introduced 18 products domestically and submitted 130+ export dossiers.

 

Mr. Mahendra Patel, Managing Director, Lincoln Pharmaceuticals Limited, said, “We are pleased to announce that the company has sustained strong growth across all business segments in Q3 and nine months of FY24, maintaining a net debt-free status. We anticipate even stronger growth in the future through upcoming product launches in domestic and export markets, improved operational efficiency, and the introduction of higher-margin products. With our steadfast growth strategies, expansion plans for products and markets, and focus on operational efficiency, we are targeting revenue of Rs. 750 crore in FY26.”

 

The company has completed the expansion of its Cephalosporin plant in Mehsana, Gujarat, and has commenced commercial production, with sales initiated in domestic markets. Plans are underway to register the product for export to multiple countries, with anticipated sales of approximately Rs. 150 crore over the next 3 years.

 

The company currently exports to over 60 countries across East & West Africa, Central, North & Latin America, and Southeast Asia. Recently, exports to Canada have commenced. With approvals from TGA - Australia and EU GMP, the company anticipates expanding its network to over 90 countries, further enhancing its global presence.

 

Highlights: - 9M FY24 Results

For nine months ended December 2023, company reported Total Income from operations Rs. 465.46 crore, higher by 11.78 % over previous fiscal’s same period Total Income from operation of Rs. 416.39 crore. Net profit of the company was reported at Rs. 100.02 crore for the nine months ended December 2023 as against net profit of Rs. 83.47 crore in the corresponding period last year, growth of 19.83 %. EBITDA for the 9M FY24 ended December 2023 was reported at Rs. 108.93 crore as compared to EBITDA of Rs. 91.10 crore in 9M FY23 registering growth of 19.57 %. EPS for the nine months of FY24 was reported at Rs. 37.30 per share as compared to Rs. 30.12 in the corresponding period last year. Exports (FOB) in nine months of FY24 was reported at Rs. 264.20 crore.

 

Over the last 5 years, company has delivered a 16% CAGR in profits and higher single digit growth in sales. The company has been successful in increasing its profit margins from around 9.9% in FY18 to over 14.9% in FY23. The liquidity position of the company is on a strong foundation, supported by healthy cash accruals, no-term debt, and healthy return ratios. Rating agencies, CRISIL has upgraded its ratings on the company's bank facilities to ‘CRISIL A/Stable and CRISIL A1’. ICRA too has reaffirmed the company’s long-term and short-term bank facilities to A and A1 respectively.

 

Company is also ranked among a very few companies to achieve a profit growth every single year from FY13 to FY23. It is among only 16 companies out of 4,200 plus listed companies in the Indian stock exchange to do so as per the analysis of Morningstar.

 

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, TGA, WHO-GMP; ISO-9001:2015, ISO-14001:2015 and ISO-45001:2018. 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 filed 25 plus patent applications and is awarded with seven patents.

Tags : #

About the Author


Team Medicircle

Related Stories

Loading Please wait...

-Advertisements-




Trending Now

FLO organised a unique program at Bansilalpet Step-wellMarch 01, 2024
Dr Raj Nagarkar Achieves Milestone As India's 1st & World’s 3rd Oncosurgeon To Perform Robotic Lobectomy With VersiusMarch 01, 2024
IIIT Hyderabad receives grant from Qualcomm to fund and support Edge AI ResearchMarch 01, 2024
FORSYS Inc opens new office in financial districtFebruary 29, 2024
The Rise in Patients Requiring Revision Hip Replacement SurgeryFebruary 29, 2024
Aakash Launches Study Material in BengaliFebruary 29, 2024
Harmony in Action: Nisarg Srishti's Dual Impact Initiative Unleashes a Symphony of Change at Sane Guruji Shikshan Sanshtha, Pragati VidyalayaFebruary 29, 2024
Wearable Tech in the Bedroom: Introducing Loop, MyMuse’s Vibrating Ring Massager for MenFebruary 28, 2024
TechInvention Lifecare announces the ground breaking of its state-of-the-art Global Collaborative Centre for Medical Countermeasures February 28, 2024
Endocrine Disorders: Causes, Tests And TreatmentFebruary 28, 2024
Çelebi Delhi Cargo Terminal Management Bolsters Security and Efficiency with "CargoCEL," Barcode Scanning UpgradeFebruary 28, 2024
Venkaiah Naidu unveiled a book “There I Was” authored by Mrs Aruna Ravi KumarFebruary 27, 2024
Maxivision Super Specialty Eye Hospitals introduces Schwind Amaris 500, a state-of-the-art German InnovationFebruary 27, 2024
Maximising circular economy strategies for rare earth elements supplyFebruary 27, 2024
FICCI Ladies Organization organised an interaction with one of the doyens of the Indian IT industry Dr BVR Mohan ReddyFebruary 27, 2024
Nat Habit strengthens leadership to accelerate its growth journey to 500 Cr; onboards Ankita Srivastava (ex-L’Oreal, Reckitt, Marico, Raymond Consumer Care) as Chief Marketing OfficerFebruary 27, 2024
Shiprocket Launches Aarambh 2024 for Women-Led SMEs NationwideFebruary 27, 2024
Treatment is prevention: Stop the spread of infection by finding all and treating all TBFebruary 27, 2024
Advancing Healthcare Access: ScreenHer initiative in Pakistan close to reaching milestone of 20,000 diabetes screenings in 70 clinics February 26, 2024
FICCI Ladies Organization organized an interaction with one of the doyens of Indian IT industry Dr BVR Mohan ReddyFebruary 26, 2024