Beta Drugs consolidated revenues from operations for FY22 increased by 58% to Rs 183.84 crore from Rs 116.12 crore compared with the same period a year ago. Strong top-line growth was primarily driven by higher own brand sales, followed by CRAMs and API sales to third parties.

Consolidated EBITDA grew by 72% to Rs 43.5 crore from 25.24 crore compared with the year-ago period. While EBITDA margin expanded to 23.6% from 21.7%. Overall improvement in EBITDA was on account of higher sales of branded products, exports, and cost rationalization initiatives.

Net profit too increased by 112% to Rs 24.8 crores from Rs 11.7 crores compared with the same period a year ago. The company was able to reduce its debtor days to 90 days compared with 106 days while inventory days stood at 45 days as against 50 days a year ago. Beta continues to focus on increasing productivity and gaining efficiencies across the value chain. The company has become net debt-free.

Outlook for FY23

The management believes that its strong product pipeline, diversified innovative product portfolio, continued expansion into new geographies and FGMP accreditations will help sustain the growth momentum in the coming few years.

The company expects revenues in FY23 to grow at 30% while EBITDA margins are expected to improve further to approximately 24%-24.5%, provided Covid-19 does not cause any further disruptions.