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Neuland Laboratories Q4 Results: Q4 PAT falls 20.0% from Q3FY24; FY24 PAT up by 83.7%

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Synopsis:

Q4FY24 saw new developments for Neuland Laboratories. Even with a 6% fall in Q4FY24 revenue from Q4FY23, FY24 saw 30.8% rise in revenue from FY23. The board has proposed a payment of final dividend of ₹14 (140 %) per equity share.

5 Key Financial Highlights

Even if the quarter in itself has not proven to be too profitable, the YoY numbers show significant growth for the company. Here are some of the main highlights from the Neuland Laboratories  Q4 Results:

  • Total Income for Q4  at ₹390.4 Crore down 6% from ₹415.1 Crore in Q4FY23 

  • EBITDA for Q4 at ₹112.2 Crore down 12.2% from ₹127.8 Crore Q4FY23

  • Profit After Tax for Q4 at ₹67.6 Crore down by 20% from ₹84.5 Crore in Q4FY23

  • Total Income for FY24 at ₹1,571.1 Crore up by 30.8% from ₹1,201 Crore in FY23

  • Profit  After Tax for FY24 at ₹299.6 Crore up by 83.7% from ₹163.1 Crore in FY23

Explore: Neuland Lab Ltd. Share Price

Key Business Updates:

  • The board has proposed a payment of final dividend of ₹14 (140 %) per equity share. 

  • The company saw high growth in the CMS business and steady growth in the Specialty GDS business

  • Key commercial products for the company continued to scale

  • US FDA inspected Unit-3 and issued an EIR (Establishment Inspection Report)

  • The company also saw a reduction in the working capital cycle to 122 days in FY24 as compared to 141 days in FY23

  • Generated Free Cash Flow of ₹116.4 Crores during FY24


Additional Read: Quarterly Results


Profitability Analysis:

Even though the quarter numbers were not too favourable, the entirety of FY24 was a different story altogether. FY24 as a whole, saw quite a bit of growth. Where on the one hand in Q4 the total Income stood at ₹390.4 Crore down 6% from ₹415.1 Crore in Q4FY23, EBITDA at ₹112.2 Crore down 12.2% from ₹127.8 Crore in Q4FY23 and Profit After Tax at ₹67.6 Crore, down by 20% from ₹84.5 Crore in Q4FY23, FY24 did much better. The company surpassed revenues of ₹1500 Crores in FY24 with EBITDA at over 30%. This has been driven by high growth in the CMS business and steady growth of the Specialty GDS business. The company also Generated Free Cash Flow of ₹116.4 Crores during FY24 which was partly utilised to help reduce debt by ₹39.4 Crores. 

Additional ReadSBI Q4 Results

Major Operational Metrics - Standalone Q4 (FY2023-24) Financial Results of Neuland Laboratories   (in ₹ Crore)

Metrics

Q4FY24

Q4FY23

YoY (%)

Q3FY24

QoQ (%)

FY24

FY23

YoY (%)

Total Income

390.4

415.1

-6.0%

394.9

-1.2%

1,571.1

1,200.9

30.8%

EBITDA

112.2

127.8 

-12.2%

122.7

-8.6%

474.5 

281.1 

68.8%

EBITDA Margin

28.7%

30.8%

-202 bps

31.1%

-233 bps

30.2%

23.4%

680 bps

Profit Before Tax

92.1

110.0

-16.3%

103.8 

-11.3%

400.8

215.2

86.2%

Profit After Tax

67.6

84.5

-20.0%

80.7

-16.2%

299.6

163.1 

83.7%

EPS (Rs.)

52.7

65.9 

-20.0%

62.9

-16.2%

233.5 

127.1 

83.7%

The Future of Neuland Laboratories  

Apart from its FY24 results, which have continued to reflect the profitability of the company, Neuland Laboratories has future projects that are sure to continue the trend. The company will continue to invest in R&D capabilities and manufacturing technologies to attract more RFPs while improving the conversion rate and Continue to focus on molecules in Phase II and later stages of development. To add to this Neuland Laboratories will continue its business development focus on biotech companies while also diversifying its geographic focus.

Additional ReadVenky’s Q4 Results

Conclusion

Though Q4FY24 might not have proven to be the most beneficial quarter for the company, FY24 in its entirety was a different story. Even with the fall of 6% in Q4FY24 revenue from Q4FY23, FY24 saw a 30.8% rise in revenue from FY23. The company’s board also proposed a payment of a final dividend of ₹14 (140 %) per equity share. Add to this the many initiatives the company is looking to take in the future and it seems that things might just turn around for the next quarter for the company. 

Additional ReadTata Motors Q4 Results

About the company:

Established in 1984 and headquartered in Hyderabad, Neuland Laboratories is a leading manufacturer of pharmaceutical ingredients. The company is a publicly listed company and also provides end-to-end solutions for any chemical needs that the pharmaceutical industry might have. The company, in the past 3 decades has been a major player in facilitating and accelerating drug development.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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Frequently Asked Questions

What was the total income that Neuland Laboratories has been able to make in Q4?

Answer Field

Though Neuland Laboratories’ Q4FY24 total income wasn’t too profitable, its FY24 revenue showed much promise. The company’s total Income for Q4FY24 stood at ₹390.4 Crore down 6% from ₹415.1 Crore in Q4FY23 while its FY24 total income stood at ₹1,571.1 Crore up by 30.8% from ₹1,201 Crore in FY23.

What was Neuland Laboratories ’s PAT for both Q4 and FY24?

Answer Field

The Profit After Tax (PAT) for Q4 stood at ₹67.6 Crore down by 20% from ₹84.5 Crore in Q4FY23 while the Profit  After Tax (PAT) for FY24 stood at ₹299.6 Crore up by 83.7% from ₹163.1 Crore in FY23

What are some of the main business updates for Neuland Laboratories?

Answer Field

Despite the numbers that were reflected in Neuland Laboratories ’s Q4 results, there were a couple of business updates that the company saw in FY24 as well. Here is a list of some of them :

  • The board has proposed a payment of final dividend of ₹14 (140 %) per equity share. 

  • The company saw high growth in the CMS business and steady growth in the Specialty GDS business

  • Key commercial products for the company continued to scale

  • US FDA inspected Unit-3 and issued an EIR (Establishment Inspection Report)

  • The company also saw a reduction in the working capital cycle to 122 days in FY24 as compared to 141 days in FY23

  • Generated Free Cash Flow of ₹116.4 Crores during FY24

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