{"id":156074,"date":"2023-11-10T06:11:25","date_gmt":"2023-11-10T11:11:25","guid":{"rendered":"https:\/\/44.250.171.167\/?p=156074"},"modified":"2023-11-10T06:11:27","modified_gmt":"2023-11-10T11:11:27","slug":"aurobindo-pharma-limited-q2-fy24-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/aurobindo-pharma-limited-q2-fy24-earnings-conference-call-insights\/","title":{"rendered":"Aurobindo Pharma Limited Q2 FY24 Earnings Conference Call Insights"},"content":{"rendered":"<p><strong>Key highlights from Aurobindo Pharma Limited (AUROPHARMA) Q2 FY24 Earnings Concall<\/strong><\/p>\n<ul>\n<li><strong>Revenue Growth<\/strong>\n<ul>\n<li>Revenue grew 25.8% year-on-year to INR7,219 crores, driven by growth across formulations, APIs, and geographies.<\/li>\n<li>Formulations revenue, excluding Puerto Rico, grew 29% YoY to INR5,968 crores.<\/li>\n<li>US formulations revenue, without Puerto Rico, grew 35.7% year-on-year to INR3,385 crores, driven by volume gains, stable demand and new launches.<\/li>\n<li>Europe formulations revenue grew 16.7% year-on-year to INR1,769 crores.<\/li>\n<li>Growth markets revenue grew 24.7% year-on-year to INR564 crores.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Margin Expansion<\/strong>\n<ul>\n<li>EBITDA grew 67.7% year-on-year and 21.9% quarter-on-quarter to INR1,403 crores.<\/li>\n<li>EBITDA margin expanded to 19.4% against 16.8% last quarter.<\/li>\n<li>Margin expansion driven by higher capacity utilization, operating leverage, lower material costs, and favorable product mix.<\/li>\n<\/ul>\n<\/li>\n<li><strong>US Business Performance<\/strong>\n<ul>\n<li>Received 15 ANDA approvals and launched 19 products in Q2 FY24.<\/li>\n<li>Filed 10 ANDAs during the quarter.<\/li>\n<li>US revenue growth driven by injectables and oral solids.<\/li>\n<li>Improved pricing environment in US with price erosion remaining neutral.<\/li>\n<li>US formulations revenue excluding Puerto Rico grew 35.7% year-on-year.<\/li>\n<li>Injectables revenue stabilized around $80-90 million per quarter currently.<\/li>\n<li>Oral solids growing at double digit rate driven by new product launches and volume gains.<\/li>\n<li>Launching 40 new products in 12 months, on track.<\/li>\n<li>Leveraging manufacturing capabilities and broad portfolio<\/li>\n<\/ul>\n<\/li>\n<li><strong>Capacity Expansion<\/strong>\n<ul>\n<li>Multiple manufacturing plants under installation and commissioning.<\/li>\n<li>New plants in China, Pen G, and API expected to be operational starting Q4 FY24.<\/li>\n<li>Clinical trials underway for biosimilars plant which will be commissioned in FY25\/26.<\/li>\n<li>Existing plants undergoing debottlenecking to increase capacity.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Outlook<\/strong>\n<ul>\n<li>Confident of sustaining growth momentum in revenue and earnings.<\/li>\n<li>Expect to achieve over 20% EBITDA margin target for FY24.<\/li>\n<li>Focus on new product launches, cost efficiencies and expanding product pipeline.<\/li>\n<li>Exploring bolt-on acquisitions aligned with company&#8217;s growth strategy.<\/li>\n<li>Targeting over 20% EBITDA margin for FY24.<\/li>\n<li>R&amp;D spend expected to increase back to INR350-400 crores per quarter.<\/li>\n<li>With plants getting commissioned, capex may moderate from FY25.<\/li>\n<li>Strategy capex of $100-150 million will continue for biosimilars, CMO etc.<\/li>\n<li>Existing generics business may not require major capex.<\/li>\n<\/ul>\n<\/li>\n<li><strong>MSD Partnership<\/strong>\n<ul>\n<li>Signed letter of intent to partner with MSD for biologics contract manufacturing.<\/li>\n<li>Will invest in infrastructure for innovator biologics manufacturing with capacity of over 15 KL bioreactors.<\/li>\n<li>Aims to compete with major CMOs globally in both drug substance and finished product.<\/li>\n<li>Final investment amount still under negotiation, expected clarity in 4-5 months.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Debt Position<\/strong>\n<ul>\n<li>Gross debt increased by $160 million in Q2 FY24.<\/li>\n<li>Spent on Indonesia acquisition, PLA plant capex, working capital.<\/li>\n<li>Expect to end FY24 with net debt between $0-50 million.<\/li>\n<li>Cash flows from PLA plant will help reduce net debt next fiscal year.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Revlimid Launch<\/strong>\n<ul>\n<li>Launched in October 2023.<\/li>\n<li>Pricing similar to competitors.<\/li>\n<li>Planning for stable quarterly revenue contribution throughout settlement period.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Europe Business Outlook<\/strong>\n<ul>\n<li>Focus on improving profitability and margins rather than chasing top line growth.<\/li>\n<li>Aiming to achieve company average EBITDA margins of 20% with scale.<\/li>\n<li>New injectable and biosimilar launches to aid growth along with China facility.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Indonesia Acquisition<\/strong>\n<ul>\n<li>Acquired Pfizer&#8217;s branded portfolio in Indonesia.<\/li>\n<li>16 well-known brands with INR31 million revenue.<\/li>\n<li>Gives direct presence in large and growing pharma market.<\/li>\n<li>Closed in Q3 FY24, will aid growth from FY25.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Europe Biosimilar Filings<\/strong>\n<ul>\n<li>Faced delay earlier, have resubmitted Pegfilgrastim file.<\/li>\n<li>Will submit Filgrastim and Trastuzumab files by end of January 2024.<\/li>\n<li>Pegfilgrastim and Filgrastim approvals expected in FY26.<\/li>\n<li>Trastuzumab approval likely in FY27.<\/li>\n<li>Audit for Filgrastim expected in Q1 2024.<\/li>\n<\/ul>\n<\/li>\n<li><strong>ARV Business Revenue<\/strong>\n<ul>\n<li>Quarterly revenue around $25 million \u00b1 $5 million.<\/li>\n<li>No huge growth expected unless unable to supply in a quarter.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Organic Capex<\/strong>\n<ul>\n<li>Existing plants capex around $125-150 million annually.<\/li>\n<li>Not embarking on major new greenfield plants currently.<\/li>\n<li>Adding lines and debottlenecking existing plants to reduce gestation period.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Inorganic Investments<\/strong>\n<ul>\n<li>Spent $95 million this year on acquisitions for new markets and business.<\/li>\n<li>Do not foresee similar scale of investments every year.<\/li>\n<li>Will evaluate bolt-on acquisitions if value-accretive opportunities arise.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from Aurobindo Pharma Limited (AUROPHARMA) Q2 FY24 Earnings Concall Revenue Growth Revenue grew 25.8% year-on-year to INR7,219 crores, driven by growth across formulations, APIs, and geographies. Formulations revenue, excluding Puerto Rico, grew 29% YoY to INR5,968 crores. US formulations revenue, without Puerto Rico, grew 35.7% year-on-year to INR3,385 crores, driven by volume gains, [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":154818,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,392,5747],"tags":[10169,1115],"class_list":["post-156074","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-earnings","category-healthcare-stocks","tag-earnings","tag-pharmaceuticals"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":155151,"url":"https:\/\/alphastreet.com\/india\/laurus-labs-limited-q2-fy24-earnings-conference-call-insights\/","url_meta":{"origin":156074,"position":0},"title":"Laurus Labs Limited Q2 FY24 Earnings Conference Call Insights","author":"Praveen","date":"October 20, 2023","format":false,"excerpt":"Key highlights from Laurus Labs Limited (LAURUSLABS) Q2 FY24 Earnings Concall Q2 FY24 Results Revenue declined 22% year-on-year to INR1,224 crores.. EBITDA was INR188 crores with 15.4% margin. Quarter-on-quarter growth rebounding in API and CDMO business. Healthy order book and partnerships for better H2 performance. New facilities to boost fermentation\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":156124,"url":"https:\/\/alphastreet.com\/india\/marksans-pharma-limited-q2-fy24-earnings-conference-call-insights\/","url_meta":{"origin":156074,"position":1},"title":"Marksans Pharma Limited Q2 FY24 Earnings Conference Call Insights","author":"Praveen","date":"November 13, 2023","format":false,"excerpt":"Key highlights from Marksans Pharma Limited (MARKSANS) Q2 FY24 Earnings Concall Financial Performance Revenues grew 17% year-on-year to INR531 crores in Q2 FY'24. EBITDA up 41.9% year-on-year to INR113.9 crores in Q2. PAT grew 39.5% to INR83.9 crores in Q2. Gross margin improved 174 bps to 52.4% in Q2. For\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":161105,"url":"https:\/\/alphastreet.com\/india\/ce-info-systems-ltd-q4-fy24-earnings-conference-call-insights\/","url_meta":{"origin":156074,"position":2},"title":"CE Info Systems Ltd Q4 FY24 Earnings Conference Call Insights","author":"Praveen","date":"May 14, 2024","format":false,"excerpt":"Key highlights from CE Info Systems Ltd (MAPMYINDIA) Q4 FY24 Earnings Concall Financial Performance Revenue from operations grew 35% to INR379.4 crores. Open order book grew 49% to INR1,372 crores. Annual new order bookings grew 63% to INR834 crores. Revenue from operations CAGR of 38% over three years. Quarterly revenue\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":158874,"url":"https:\/\/alphastreet.com\/india\/natco-pharma-ltd-q3-fy24-earnings-conference-call-insights\/","url_meta":{"origin":156074,"position":3},"title":"Natco Pharma Ltd Q3 FY24 Earnings Conference Call Insights","author":"Praveen","date":"February 16, 2024","format":false,"excerpt":"Key highlights from Natco Pharma Ltd (NATCOPHARM) Q3 FY24 Earnings Concall Financial Performance Recorded total revenue of INR795.6 crores in Q3 FY'24, a 55% growth over INR513.3 crores in same period last year. Revenue crossed INR3,000 crores year-to-date with one more quarter to go, a major milestone for the company.\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":172164,"url":"https:\/\/alphastreet.com\/india\/aurobindo-pharma-q2-fy26-earnings-results\/","url_meta":{"origin":156074,"position":4},"title":"Aurobindo Pharma Q2 FY26 Earnings Results","author":"Divyansh_Kasana","date":"November 6, 2025","format":false,"excerpt":"Aurobindo Pharma Ltd, a leading pharmaceutical company focused on active pharmaceutical ingredients and generic pharmaceuticals, reported a steady Q2FY26 financial performance with revenues rising 6.3% year-on-year to \u20b98,286 crore. Consolidated net profit increased by 3.8% to \u20b9848 crore, reflecting resilience in key markets such as the US and Europe. Key\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Q2 FY26","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/auro.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/auro.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/auro.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/auro.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/auro.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/auro.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":142550,"url":"https:\/\/alphastreet.com\/india\/earnings-aurobindo-pharma-ltd-nseauropharma-q3fy23-results-out-total-income-rise-7-yoy\/","url_meta":{"origin":156074,"position":5},"title":"Earnings | Aurobindo Pharma Ltd. (NSE:AUROPHARMA): Q3FY23 Results Out; Total Income rise 7% YoY","author":"Divyansh_Kasana","date":"February 22, 2023","format":false,"excerpt":"Aurobindo Pharma Ltd. (NSE:AUROPHARMA) is a global pharmaceutical company headquartered in India. The company produces and sells a wide range of generic pharmaceutical products and active pharmaceutical ingredients (APIs) in over 150 countries. Aurobindo Pharma's portfolio includes antibiotics, anti-retrovirals, anti-inflammatory drugs, cardiovascular drugs, and more. The company operates manufacturing facilities\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/156074","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1767"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=156074"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/156074\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/154818"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=156074"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=156074"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=156074"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}