Balaxi Pharmaceuticals Limited (Balaxi), a branded IPR-based pharmaceutical company headquartered in Hyderabad, has recorded Q1 FY22 revenue of Rs. 58.3crore, registering a 12% growth year-on-year, led by Pharma and Branded Consumer Goods segments.

Higher contribution from newer geographies such as Guatemala also led the Pharma segment to grow by 11% YoY. With new launches and increasing customer acceptance, Branded Consumer segment revenue increased by 128% YoY. The company has reported PAT of Rs. 10.7 crore for Q1 FY22, higher by 23% YoY.

Pharmaceutical business segment contributed 61% of the consolidated revenues and 75% of the total gross profit. Share of Pharmaceuticals business in total revenue increased on account of contribution from newer geographies. In gross profits, the contribution from the pharmaceutical segment increased by 200bps YoY. Ancillary business contributed 12% to the revenue in Q1 FY22.

Commenting on the performance, Ashish Maheshwari, Chairman and Managing Director said, “Balaxi has set its footprints into the newer geography of Nicaragua, with the registration pipeline of 90 products, reflecting the company’s ‘Land and Expand’ strategy. As on date Balaxi has 556 pharmaceutical product registrations/import permits, spanning across 5 countries, and has a robust pipeline of 750 product registrations, including those submitted toMOH spanning across six countries."

"Balaxi saw an increase in the share of pharmaceutical business from Guatemala and Dominican Republic, showcasing that the newer geographies have started contributing to the company’s overall pharmaceutical segment. The company continues with its endeavour of remaining debt free and maximising stakeholder value. The company remains confident about achieving its long-term growth aspirations and looks forward to expanding in additional geographies. Balaxi aims to expand in 20 frontier markets over the next 5 years,” added Maheshwari.