Biocon has posted a decline of 57 per cent in consolidated net profit at Rs.135.5 crore in Q4 FY24, compared to Rs. 313.2 crore in the corresponding period last year. The company’s revenue from operations in the fourth quarter of FY24 stood at Rs. 3,917 crore, registering a rise of four per cent, compared to Rs. 3,774 crore in the year-ago period.

 

At the operating level, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) dropped 8.2 per cent to Rs. 916 crore inQ4 FY24 compared to Rs. 997 crore in the same quarter last year. Margin dropped by 300 basis points (bps) to 23.4 per cent compared to 26.4 per cent in the year-ago period.

Commenting on the result, Kiran Mazumdar-Shaw, Executive Chairperson, Biocon and Biocon Biologics, said: “Q4FY24 performance was strongly led by Biologics that delivered the promised billion-dollar annual revenue milestone marking the successful transition of the Biosimilars acquisition from Viatris. Increased market shares of key products in the U.S., Europe and Emerging Markets coupled with significant volumes growth were the highlights of the Biosimilars business this quarter. With the recent approval of Liraglutide in the UK, we added to our list of ‘global firsts’ and demonstrated our capability in developing complex GLP-1 products which will be the key growth driver for the Generics business, going forward. Syngene is well positioned to benefit from the ‘China Plus One’ strategy which is being rapidly adopted by U.S. Pharma & Biotech companies.

 “For the full year FY24, we reported consolidated revenue growth of 35% at Rs 15,621 crore and an EBITDA growth of 44 % at Rs 4,164 crore with healthy EBITDA margins of 27%. This growth was largely driven by Biosimilars which grew 58% to Rs 8,824 crore. 

“The Biocon Group has strengthened business operations, expanded global reach and is now increasingly well positioned to deliver a new phase of growth spanning Biosimilars, GLP-1 peptides and CDMO services.” 

BIOCON GENERICS

Siddharth Mittal, CEO & Managing Director, Biocon Limited, said:  “We concluded FY24 with the Generics business posting a modest revenue growth. Generic Formulations reported a healthy 36% growth, as our products, particularly statins and immunosuppressants, gained traction across multiple geographies. This was offset by a degrowth in APIs on account of pricing pressure the business encountered, which impacted demand. 

“Our preparations for entering the GLP-1 market opportunity is building momentum and we are pleased with the recent approval of Liraglutide in the UK, making Biocon the first generics Company to be approved for this product in an ICH or major regulated market. More importantly, the approval validates our scientific and development capability in bringing vertically integrated, complex peptide drug-device products to the market. This augurs well for us to capture GLP-1 opportunities that will drive our future growth.

“Our focus in FY25 will be directed towards launching new products and expanding our geographic reach through a direct presence and strategic partnerships. We will continue to focus on multiple cost improvement initiatives. We also intend to build upon our initial regulatory success in our peptide and GLP-1 focused pipeline in strategic markets.”    

BIOCON BIOLOGICS

Shreehas Tambe, CEO & Managing Director, Biocon Biologics Limited, said: “This has been a remarkable year for Biocon Biologics, as we evolved into a fully integrated global company with a presence in over 120 countries. We successfully integrated the acquired business 1 year ahead of plan, while ensuring business continuity and a seamless experience for our patients, customers, and partners. This is reflected in the numbers as our revenues crossed USD 1 billion for the full year with a healthy EBITDA margin, underpinned by a significant increase in market shares of our key products in the U.S., Europe, and Emerging Markets. Our R&D pipeline too has progressed as planned and having secured market entry dates for 2 new products in U.S. and Canada, these products will serve to accelerate growth in the coming years.

“During the year, we reduced our acquisition debt. We also entered into a long-term strategic collaboration to distribute our products in India while retaining exclusive supply rights. FY24 has been a transformational year as we leverage our expanded global reach to address patient needs globally and unlock value for the benefit of all stakeholders.”

SYNGENE

 

Jonathan Hunt, CEO &Managing Director, Syngene International Limited, said: “Despite the reduced demand for research and development services within the U.S. biotech sector,stemming from a difficult funding environment, we delivered a 9% growth for the full year. This resilience is the result of our broad operating span and the investments made to establish our development and manufacturing divisions with biologics, in particular, delivering a strong performance throughout the year.”

 

Biocon posts Q4 FY24 PAT at Rs. 135 Cr

EBITDA for the quarter stood at Rs 964 crore, representing an EBITDA margin of 24%.

Biocon has posted a decline of 57 per cent in consolidated net profit at Rs.135.5 crore in Q4 FY24, compared to Rs. 313.2 crore in the corresponding period last year. The company’s revenue from operations in the fourth quarter of FY24 stood at Rs. 3,917 crore, registering a rise of four per cent, compared to Rs. 3,774 crore in the year-ago period.

At the operating level, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) dropped 8.2 per cent to Rs. 916 crore inQ4 FY24 compared to Rs. 997 crore in the same quarter last year. Margin dropped by 300 basis points (bps) to 23.4 per cent compared to 26.4 per cent in the year-ago period.

Commenting on the result, Kiran Mazumdar-Shaw, Executive Chairperson, Biocon and Biocon Biologics, said: “Q4FY24 performance was strongly led by Biologics that delivered the promised billion-dollar annual revenue milestone marking the successful transition of the Biosimilars acquisition from Viatris. Increased market shares of key products in the U.S., Europe and Emerging Markets coupled with significant volumes growth were the highlights of the Biosimilars business this quarter. With the recent approval of Liraglutide in the UK, we added to our list of ‘global firsts’ and demonstrated our capability in developing complex GLP-1 products which will be the key growth driver for the Generics business, going forward. Syngene is well positioned to benefit from the ‘China Plus One’ strategy which is being rapidly adopted by U.S. Pharma & Biotech companies.

 “For the full year FY24, we reported consolidated revenue growth of 35% at Rs 15,621 crore and an EBITDA growth of 44 % at Rs 4,164 crore with healthy EBITDA margins of 27%. This growth was largely driven by Biosimilars which grew 58% to Rs 8,824 crore. 

“The Biocon Group has strengthened business operations, expanded global reach and is now increasingly well positioned to deliver a new phase of growth spanning Biosimilars, GLP-1 peptides and CDMO services.” 

BIOCON GENERICS

Siddharth Mittal, CEO & Managing Director, Biocon Limited, said:  “We concluded FY24 with the Generics business posting a modest revenue growth. Generic Formulations reported a healthy 36% growth, as our products, particularly statins and immunosuppressants, gained traction across multiple geographies. This was offset by a degrowth in APIs on account of pricing pressure the business encountered, which impacted demand. 

“Our preparations for entering the GLP-1 market opportunity is building momentum and we are pleased with the recent approval of Liraglutide in the UK, making Biocon the first generics Company to be approved for this product in an ICH or major regulated market. More importantly, the approval validates our scientific and development capability in bringing vertically integrated, complex peptide drug-device products to the market. This augurs well for us to capture GLP-1 opportunities that will drive our future growth.

“Our focus in FY25 will be directed towards launching new products and expanding our geographic reach through a direct presence and strategic partnerships. We will continue to focus on multiple cost improvement initiatives. We also intend to build upon our initial regulatory success in our peptide and GLP-1 focused pipeline in strategic markets.”    

BIOCON BIOLOGICS

Shreehas Tambe, CEO & Managing Director, Biocon Biologics Limited, said: “This has been a remarkable year for Biocon Biologics, as we evolved into a fully integrated global company with a presence in over 120 countries. We successfully integrated the acquired business 1 year ahead of plan, while ensuring business continuity and a seamless experience for our patients, customers, and partners. This is reflected in the numbers as our revenues crossed USD 1 billion for the full year with a healthy EBITDA margin, underpinned by a significant increase in market shares of our key products in the U.S., Europe, and Emerging Markets. Our R&D pipeline too has progressed as planned and having secured market entry dates for 2 new products in U.S. and Canada, these products will serve to accelerate growth in the coming years.

“During the year, we reduced our acquisition debt. We also entered into a long-term strategic collaboration to distribute our products in India while retaining exclusive supply rights. FY24 has been a transformational year as we leverage our expanded global reach to address patient needs globally and unlock value for the benefit of all stakeholders.”

SYNGENE

Jonathan Hunt, CEO &Managing Director, Syngene International Limited, said: “Despite the reduced demand for research and development services within the U.S. biotech sector,stemming from a difficult funding environment, we delivered a 9% growth for the full year. This resilience is the result of our broad operating span and the investments made to establish our development and manufacturing divisions with biologics, in particular, delivering a strong performance throughout the year.”

 

 

 

 

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Polyplastics launches new glass-filled PPS grade with improved thermal shock resistance

Polyplastics, a global leader in engineering plastics, has announced the launch of a next-generation polyphenylene sulfide (PPS) grade that boasts significantly improved thermal shock resistance and can be easily recycled during post-consumer recycling (PCR) without sorting.

Durafide PPS 1140HS6, a 40% glass-filled grade, meets the requirements for metal insert molding, particularly busbars for electric vehicles (xEVs).

Durafide PPS 1140HS6 can be easily collected without being separated from other PPS components during recycling. Polyplastics has employed a material design technique to ensure thermal shock resistance by minimizing residual strain during molding and homogenizing linear expansion to mitigate internal stress. As a result, thermal shock resistance has been improved while retaining mechanical and other essential properties.

Durafide PPS 1140HS6 eliminates molding imperfections and enhances performance without the need for impact modifiers in xEV busbar applications. Insert molded xEV components conduct high-voltage currents in various electrical parts and their complex shapes make them susceptible to cracking.

They are usually made up of a metal that conducts electric power and PPS resin that functions as a coating for insulation. This cracking problem is caused by repeated heating and cooling and subsequent rapid temperature changes. This is a significant issue, leading to insulation failure, particularly in the critical parts of xEVs that conduct high-voltage currents.

The newly developed Durafide PPS 1140HS6 PPS resin offers better flowability during injection molding than standard materials. This makes it an ideal choice for molding both thin-wall and large products.

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Toray Jointly Develops Film Packaging Material and Technology that Can Affordably Shrink Carbon Footprints and Complies with European Union’s Packaging and Packaging Waste Regulation

15 May 2024

Toray Industries, Inc., Dow Inc, Comexi Group Industries, S.A.U., Sakata Inx Corporation and SGK Japan (Schawk Japan K.K.) announce that they have jointly developed a surface printing mono-material film packaging material technology.

 

This breakthrough complies with the European Union’s Packaging and Packaging Waste Regulation, which aims to help realize a low-carbon, circular global economy. The material will serve in wide-ranging food and daily necessities applications.

 

Flexible film substrates are used in a myriad of different applications including food packaging and detergent refill pouches because they are light, transparent, and easy to process. With the global population rising, the worldwide film packaging demand should increase 4% to 5% annually from the 2023 level of 33 million metric tons (see source 1). The issue with many existing film packaging materials is that they are hard to recycle as they are made by laminating films made from different materials to achieve the functional and shape requirements of the application.

 

In view of this shortcoming, the European Union is mandating that all packaging materials are designed for recyclability by 2030. In April 2024 (see source 2), the European parliament adopted the new Packaging and Packaging Waste Regulation with the aim to reduce packaging waste and make it more sustainable. This legislation has a broad scope and includes the need to classify plastic packaging according to recyclability criteria, broadly aligned with proposals from industry associations such as Recyclass. Full details will now be determined in associated CEN standards but in general, packaging will need to be made as much as possible, with a single polymeric material, minimizing the presence of other polymers and additives that could negatively impact recycling.

 

Toray, Dow, Comexi, Sakata Inx, and SGK JAPAN responded to this progress by jointly developing a surface-printed mono-material film packaging material technology that can reduce plastic consumption and significantly lower CO2 emissions from printing processes while satisfying the recommendations above. As well as designing for recyclability and cutting CO2 emissions, this technology should also help cut costs and shorten delivery times owing to abbreviated manufacturing processes.

 

For this collaboration, Toray used its new RESOLUCIA™ flexographic plate for film packaging printing. The plate-making process replaces organic solvents with water during development to ensure high print quality. Dow contributed by designing and producing a polyethylene film suitable for surface printing, which includes a thin gas barrier layer and high-performance materials such as INNATE™ and AFFINITY™ resins to achieve the abuse resistance and seal performance required for conversion. Sakata Inx supplied its electron beam flexo inks and varnishes, which were used to produce printed materials on a Comexi electron beam flexo press, renowned for being a high productive and easy to use. The packaging design involves printing on the surface only, reducing the number of film layers required. SGK Japan’s design approach minimizes ink usage while maintaining the aesthetic quality.

 

The companies are joining forces to leverage advanced printing technology and standardize film packaging for food and daily necessities. This will ultimately reduce the environmental footprint of the film packaging industry and foster a sustainable economy.

 

Collaborating companies will exhibit samples of film packaging materials using this technology at their booths(Hall3/E83, Hall3/C71) during DRUPA 2024, the world’s largest printing exhibition. That event will be in Düsseldorf, Germany, from May 28 to June 7.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Themis Medicare Limited consolidated Q4 FY24 profit lower at Rs. 6.64 crore

 

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Posted On : 2024-05-15 20:22:42( TIMEZONE : IST )

Themis Medicare Limited consolidated Q4 FY24 profit lower at Rs. 6.64 crore

has reported Consolidated financial results for the period ended March 31, 2024.

 

Financial Results (Q4 FY2024) - QoQ Comparison

 

The company has reported total income of Rs. 98.9171 crores during the period ended March 31, 2024 as compared to Rs. 83.0776 crores during the period ended December 31, 2023.

 

The company has posted net profit / (loss) of Rs. 6.6436 crores for the period ended March 31, 2024 as against net profit / (loss) of Rs. 7.3682 crores for the period ended December 31, 2023.

 

The company has reported EPS of Rs. 0.72 for the period ended March 31, 2024 as compared to Rs. 0.80 for the period ended December 31, 2023.

 

 

Financials             Q4 FY2024           Q3 FY2024           % Change

Total Income     ₹ 98.9171 crs     ₹83.0776 crs       Up Tick / Down Tick19.07%

Net Profit            ₹6.6436 crs         ₹7.3682 crs         Up Tick / Down Tick-9.83%

EPS         ₹0.72     ₹0.80     Up Tick / Down Tick-10.00%

 

Financial Results (Q4 FY2024) - YoY Comparison

 

The company has reported total income of Rs. 98.9171 crores during the period ended March 31, 2024 as compared to Rs.83.0519 crores during the period ended March 31, 2023.

 

The company has posted net profit / (loss) of Rs.6.6436 crores for the period ended March 31, 2024 as against net profit / (loss) of Rs.8.4054 crores for the period ended March 31, 2023.

 

The company has reported EPS of Rs.0.72 for the period ended March 31, 2024 as compared to Rs.0.91 for the period ended March 31, 2023.

 

Financials             Q4 FY2024           Q4 FY2023           % Change

Total Income     ₹ 98.9171 crs     ₹83.0519 crs       Up Tick / Down Tick19.10%

Net Profit            ₹6.6436 crs         ₹8.4054 crs         Up Tick / Down Tick-20.96%

EPS         ₹0.72     ₹0.91     Up Tick / Down Tick-20.88%

 

Financial Results (Year Ended FY2024) - YoY Comparison

 

The company has reported total income of Rs.386.5163 crores during the Financial Year ended March 31, 2024 as compared to Rs.365.8281 crores during the Financial Year ended March 31, 2023.

 

The company has posted net profit / (loss) of Rs.43.5238 crores for the Financial Year ended March 31, 2024 as against net profit / (loss) of Rs.56.9010 crores for the Financial Year ended March 31, 2023.

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Berger Paints India Ltd posts consolidated PAT of Rs. 222.10 crores in Q4 FY2024

 

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Posted On : 2024-05-15 21:26:42( TIMEZONE : IST )

Berger Paints India Ltd posts consolidated PAT of Rs. 222.10 crores in Q4 FY2024

Berger Paints (I) Limited has reported Consolidated financial results for the period ended March 31, 2024.

 

Financial Results (Q4 FY2024) - QoQ Comparison

 

The company has reported total income of Rs. 2536.16 crores during the period ended March 31, 2024 as compared to Rs. 2900.77 crores during the period ended December 31, 2023.

 

The company has posted net profit / (loss) of Rs. 222.10 crores for the period ended March 31, 2024 as against net profit / (loss) of Rs. 299.65 crores for the period ended December 31, 2023.

 

The company has reported EPS of Rs. 1.90 for the period ended March 31, 2024 as compared to Rs. 2.57 for the period ended December 31, 2023.

 

 

Financials             Q4 FY2024           Q3 FY2024           % Change

Total Income     ₹ 2536.16 crs     ₹2900.77 crs       Up Tick / Down Tick-12.57%

Net Profit            ₹222.10 crs         ₹299.65 crs         Up Tick / Down Tick-25.88%

EPS         ₹1.90     ₹2.57     Up Tick / Down Tick-26.07%

 

Financial Results (Q4 FY2024) - YoY Comparison

 

The company has reported total income of Rs. 2536.16 crores during the period ended March 31, 2024 as compared to Rs.2458.70 crores during the period ended March 31, 2023.

 

The company has posted net profit / (loss) of Rs.222.10 crores for the period ended March 31, 2024 as against net profit / (loss) of Rs.185.69 crores for the period ended March 31, 2023.

 

The company has reported EPS of Rs.1.90 for the period ended March 31, 2024 as compared to Rs.1.59 for the period ended March 31, 2023.

 

Financials             Q4 FY2024           Q4 FY2023           % Change

Total Income     ₹ 2536.16 crs     ₹2458.70 crs       Up Tick / Down Tick3.15%

Net Profit            ₹222.10 crs         ₹185.69 crs         Up Tick / Down Tick19.61%

EPS         ₹1.90     ₹1.59     Up Tick / Down Tick19.50%

 

Financial Results (Year Ended FY2024) - YoY Comparison

 

The company has reported total income of Rs.11262.60 crores during the Financial Year ended March 31, 2024 as compared to Rs.10619.41 crores during the Financial Year ended March 31, 2023.

 

The company has posted net profit / (loss) of Rs.1167.74 crores for the Financial Year ended March 31, 2024 as against net profit / (loss) of Rs.859.42 crores for the Financial Year ended March 31, 2023.