Thread by @BullsforBears

@SyngeneIntl conference call transcript Q2FY21

Revenue from operations up 12%, 519 cr ,Ebidta 169 cr, PAT 84 cr
#COVID19 impacting operations of the company & its clients
Set up the busiest PCR testing center in Bangalore
Overall growth driven by discovery science,R & D center

Significant success for 2 clients
1)Albireo pharma - compound Odevixibat met primary endpoint in phase 3 for children suffering genetic liver disease
Syngene worked on registration batches to phase 3,helping in
regulatory filings

#pharma #Nifty

2) C4 therapeutics - biopharmaceutical company, novel therapy for cancer & neurodegenerative disease through Targeted protein degradation, recognized leader ,syngene conducted discovery research projects for C4 over last 3 years
#sensex #cdmo

Syngene helping 50 companies around Bangalore for #coronavirus testing
Started #remdesivir manufacturer post license agreement with Gilead

Received credit rating upgrade from @icra this quarter,@CRISILLimited last quarter

95% power consumption this quarter is via green power

Increase staff cost by 22% to 161 cr post increase in headcount in new facilities that went live last 12 months, 5200 vs 4700 employees last year

Other expenses:
Selling expenses, IT ,general overheads, #Covid_19
Mangalore plant incurring operating expenses
Technology upgrade

Depreciation of 68/53 cr,owing to investment in Hyderabad facility, expansion at Bangalore & commencement of Mangalore API plant
Exchange gain of 7/3 cr last year
PAT at 84/82 cr,up 2% impacted by higher depreciation & lower interest income

Half yearly results
Revenue from operations 941 cr, up 6% ,led by strong 2nd quarter recovery, sales visibility over 6 months leading to no change in revenue guidance
Ebidta up 3% at 309 cr, without impact of lower interest income business Ebidta up 8%
@SyngeneIntl

Income tax rate 1st 6 months at 11%, effective tax of 18 vs 32 cr last year
Investment 1st half year $26 mn
$7 mn in API
$8 mn in discovery sciences
$3 mn in biologics
$8 mn in R&D
Net cash balance of 287 cr end of Sep20

Mangalore Api facility last 2yrs spent in construction phase ,this year operationalization & validation ,next financial year about revenues

Going fwd company to report low double digit revenue growth over next 2 quarters, flat profit growth

Development services business is Discovery services business, provides FTE or fee for services to pharma companies & biotech companies around the world
Help companies to develop new formulations,mfing processes & clinical scale manufacturing on service basis,dont own mols

@SyngeneIntl @Bioconlimited @kiranshaw @unseenvalue @punitbansal14 @Coolfundoo
#pharma #cdmo #biologics

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