Lincoln Pharma reports 30.50 per cent rise in standalone net profit at Rs 17.60 crores in Q3 FY22

Lincoln Pharma has reported net profit of Rs 17.60 crores for the Q3 FY22 ended December 2021 as against a net profit of Rs 13.49 crores in the corresponding period last year, growth of 30.50 per cent. Net revenue for the Q3 FY22 was reported at Rs 122.52 crores, higher by 6.18 per cent over previous fiscal’s same period net revenue of Rs 115.39 crores. The company reported an EBITDA of Rs 26.09 crores in Q3FY22, a rise of 25.90 per cent as compared to Rs 20.72 crores in the corresponding period last year. EPS for Q3FY22 was at Rs 8.79 per share as compared to Rs 6.73 in the corresponding period last year, the company notified in a statement.

Commenting on the results and performance, Mahendra Patel, Managing Director, Lincoln Pharma, said in the statement, “The company is progressing well on its long-term growth roadmap and we are pleased with the performance so far. Our international business is complementing well with our domestic business to further cement our position in the industry. Progress on the Mehsana expansion for the launch of Cephalosporin products is going as per schedule. Going forward, we are confident to improve our growth numbers on all fronts. Strategic growth initiatives, product and geographical expansion, operational efficiency are likely to maximise value for all stakeholders in the near-to-medium term.”

For nine months ended December 2021, the company reported net sales of Rs 377.64 crores, higher by 8.92 per cent over previous fiscal’s same period net sales of Rs 346.71 crores. The net profit of the company was reported at Rs 58.33 crores for the nine months ended December 2021 as against net profit of Rs 49.68 crores in the corresponding period last year, a growth of 17.42 per cent. EPS for the 9MFY22 was reported at Rs 29.12 per share. Exports (FOB) in 9MFY22 stood at Rs 199.78 crores, said the statement.

Over the last five years, Lincoln Pharma has delivered a robust 20 per cent plus CAGR in profits and higher single-digit growth in sales. The liquidity position of the company is on a strong foundation, supported by healthy cash accruals, no term debt and healthy return ratios. Backed by improvement in the company’s financial risk profile, steady growth in scale and margins, healthy profitability, rating agency ICRA has upgraded the company’s long-term and short-term bank facilities to A and A1, respectively, the statement further said.

It also noted that the export business of the company has shown remarkable growth in the last few years and had increased to 65 per cent of total sales in FY21 from 11 per cent of total sales in FY13. The company currently exports to 60 plus countries including East and West Africa, Central and Latin America and Southeast Asia. TGA – Australia and EU GMP approvals will further strengthen the company’s presence and expand its network to 90 plus countries. The company looks to enter the EU markets during the current financial year.