Eris Lifesciences Q4 22 revenues at Rs 3,059 million, up 10 per cent YoY

Eris Lifesciences yesterday announced its earnings for the fourth quarter and full year FY22.

Commenting on the results, Amit Bakshi, Chairman and Managing Director, Eris Lifesciences, said in a statement, “This year, Eris has entered the elite club of less than a handful of Indian pharmacos to have crossed Rs 400 crores of PAT in just 15 years from inception. We have delivered an EPS CAGR of 18 per cent in the last two years. We expect our growth momentum to accelerate in the coming years on account of new product launches resulting from patent expirations, scale-up of our insulin and analogues business and expansion of doctor coverage.”

Further, according to the statement, financial highlights for Q4FY22 and FY22 are as follows:
• Revenue for Q4 FY22 grew by 10 per cent YoY to Rs 3,059 million, and for FY22 grew by 11.2 per cent YoY to Rs 13,470 million
• EBITDA for Q4 FY22 grew by 2.5 per cent YoY to Rs 969 million, and for FY22 grew by 12.6 per cent YoY to Rs 4,850 million
• PAT for Q4FY 22 grew by 17.2 per cent YoY to Rs 800 million, and for FY22 grew by 14.3 per cent YoY to Rs 4,058 million

Q4FY22 – Business highlights
• Eris grew by 14 per cent YoY in Q4 FY22 in its core cardio-metabolic business despite unprecedented market headwinds for three consecutive quarters
• From a pre-COVID base, Eris has grown at a CAGR of nine per cent compared to the market CAGR of three per cent during this period
• New launches: Xsulin, Tayo Raga, Linares and Drolute

FY22 – Business Highlights
• Eris grew by 16 per cent YoY in FY 22 in its core cardio-metabolic business despite unprecedented market headwinds for three consecutive quarters
• Chronic and sub-chronic segment of Eris grew by 15.7 per cent YoY in FY22, outperforming by 1.5x the IPM which grew at 10.2 per cent YoY.