Torrent Pharma announces Q4 FY21 results.
Revenues & profitability:
- Revenues were stable at Rs. 1,937 crores
- Grossmargins were at 74% and Operating EBITDA margins were at 30%
- Operating EBITDA at Rs. 582 crores was up 6%
- Net profits grew by 3%; adjusted for a one-time tax benefit, net profit grew by 24%.
- There was a one time tax benefit of Rs. 53 crores under the CARES Act enacted by US Government in March 2020 in response to Covid -19 Pandemic
India:
- Indiarevenues at Rs 922 crores grew by 10%
- As per AIOCD data, Torrent’s Q4 FY21 growth was 6% versus IPM growth of 5%
- Growth was driven by continued recovery in chronic, sub-chronic and acute therapies, and aided by market share gains in high potential new launches
- PCPM for the quarter was Rs 8.5 lakhs with an MR strength of 3,600
- For FY21, revenues were Rs 3,739 crores, up by 6%.
United States:
- US revenues at Rs 269 crores were down by 30%.
- Constant currency sales were $37 million.
- Sales was impacted by price erosion on base business & base impact of Sartan portfolio discontinuation.
- As on March 31, 2021, 54 ANDAs were pending approval and 6 tentative approvals were received. 8 ANDA was filed during the quarter.
- For FY21, revenues were Rs 1,261 crores, down by 17% (Constant currency sales: $166 million).
Brazil:
· Brazil revenues at Rs 189 crores, were down by 3%
· Constant currency sales at R$ 141 million, was up by 19%.
· As per IMS data, Branded Generic market grew by 5% in Q4 FY21.
· For FY21, revenues were Rs 630 crores, down by 12% (Constant currency sales: R$ 454 million, up by 11%).
Germany:
- Germany revenues at Rs 267 crores were up by 23%
- Constant currency sales were Euro 30 million up by 14%
- Market performance was affected due to extension of lockdown
- For FY21, revenues were Rs 1,038 crores, up by 10% (Constant currency sales: flat at Euro 119 million).
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