Aurobindo Pharma Limited is an Indian pharmaceutical company. It is based in HITEC City, Hyderabad, India. It was incorporated in 1986. The pharmaceutical products include generic drugs, over-the-counter drugs, vaccines, diagnostics, contact lenses and animal health. The company markets its products in more 125+ countries by Pfizer and AstraZeneca plc. The shares are traded both on BSE and NSE.
Key Financial Highlights
| Amount (INR Cr) | Q3FY22 | Q3FY21 |
| Revenue from operations | 6,002.20 | 6,064.80 |
| EBITDA before Forex and Other income | 1,016.30 | 1,280.70 |
| Net Profit | 604.3 | 777.3 |
Revenue from Operations at INR 6,002 Cr declined by 1% Y-O-Y.
Research & Development (R&D) spend is 6.6% of revenues i.e. INR 393 Cr.
Net Profit stood at INR 604.3 Cr compared to INR 777.3 Cr.
Basic & Diluted EPS is INR 10.32 per share.
EBIDTA before Forex and Other income stood at INR 1,016.3 Cr.
The EBITDA margin for the quarter is 16.9%
Cash Position:
The company has generated a free cash flow of $ 201 in Q3 FY 2022. The working capital reduced with the reduction of inventory. However the strong cash position has helped the company to improve the investment.
US Formulations:
In Q3 FY22, US revenue decreased by 4.4% YoY to INR 2,745.2 Cr. The company has filed for 10 ANDAs including 3 Injectables with USFDA in Q3 FY22. Received final approval for 4 ANDAs including 1 injectable product in Q3 FY22. The company has launched 7 products during the quarter, including 4 Injectables. It is the largest generics Company in the US by Rx dispensed.
Europe Formulations
The revenue is INR 1,694.3 Cr, increased 1.4% YoY. The total revenue consolidates 28% from Europe.
ARV Formulations
ARV business revenue declined by 64.9% YoY to INR 155.7 Cr. There has been an improvement 7.4% QoQ.
Growth Markets Formulations
Revenue from Growth Markets formulations are flat on a YoY basis and increased 2.8% QoQ to INR 397 Cr.
Active Pharmaceutical Ingredients (API)
API business posted revenue of INR 1,010.0 Cr. and contributed 16.8% of the consolidated revenues.
Conference Call Highlights
Management updates
The gross debt is $ 499 million reduced quarter-on-quarter basis.
Net working capital for the quarter has been reduced by $ 137 million.
Net organic CAPEX for the quarter is around $ 52 million.
Revenue of Auromedics, injectable business declined by 7% year-on-year to 63.2 million for Q3 FY 2022.
For Q3 FY 2022 Growth Market witnessed a growth of 2.8% quarter on-quarter to Rs. 397 crores.
Business Updates
Aurobindo Pharma Managing Director N Govindarajan resigns from his position.
Aurobindo Pharma appoints K Nithyananda Reddy as managing director.
Aurobindo Pharma, MSN Labs seek DGCI nod for Phase-III trials of Merck’s molnupiravir.
Aurobindo Pharma has appointed Chief Operating Officer for API vertical.