In Q1 FY16, pharma revenues were up six per cent YoY at Rs 2,761 million
Strides Arcolab posted its financial results for the quarter ending June 30, 2015 (FY16). In Q1 FY16, the company posted revenues worth Rs 2,761 million, showing a growth of six per cent YoY. Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the quarter was at Rs 572 million, showing a growth of five per cent YoY. EBITDA margins was consistent at 21 per cent.
The R&D spend for Q1 FY16 was at Rs 86 million, against Rs 56 million in Q1 FY15 . 34 cumulative ANDAs were filed (non-PEPFAR) with the US FDA , one ANDA filing made during the quarter. 17 ANDA filings were pending approval from the US FDA and two product approvals were received during the quarter.
In biotech sector, R&D spend during the quarter was at Rs 40 million, against Rs 20 million in Q1 FY15. Revenues were at Rs 899 million in Q1 FY16, representing 33 per cent of total revenues in the regulated markets. Revenues grew two per cent YoY to Rs 899 million against Rs 884 million in Q1 FY15. In institutional business, revenues were at Rs 986 million in Q1 FY16, representing 35 per cent of total revenues. Revenues grew 25 per cent YoY to Rs 986 million against Rs 787 million in Q1 FY15. In emerging markets, revenues were at Rs 877 million in Q1 FY16, representing 32 per cent of total revenues. Revenues declined five per cent YoY to Rs 877 million in Q1 FY16 against Rs 925 million in Q1 FY15.
Arun Kumar, Founder and Group Chief Executive Officer, Strides Arcolab said, “In version 2 of Strides, we focus on achieving key strategic and operational goalposts. Quarterly performance is not a guidance of near term financial results. We continue to ramp up R&D initiatives with the focus on building a disruptive model. Having stated that, Q1 FY16 was a challenging quarter for the business mainly led by a subdued performance in our emerging market operations in Africa.”