Lincoln Pharmaceuticals reports 22.8% rise in Standalone Net Profit at Rs. 21.6 crore in Q3 FY23

February 09, 2023: Lincoln Pharmaceuticals Ltd, one of India\'s leading healthcare companies has reported net profit of Rs. 21.61 crore for the Q3 FY23 ended December 2022 as against net profit of Rs. 17.60 crore in the corresponding period last year, growth of 22.8%. Total Income for the Q3 FY23 was reported at Rs. 140.12 crore, higher by 14.4% over previous fiscal\'s same period Total Income of Rs. 122.5 crore. Company reported EBITDA of Rs. 33.1 crore in Q3 FY23, rise of 26.9% as compared to Rs. 26.1 crore in the corresponding period last year. EPS for Q3FY23 was at Rs. 10.79 per share for as compared to Rs. 8.79 in the corresponding period last year.

During the year, company got an approval from WHO-GMP for Tablet Capsule, dry-powder Suspension products at Cephalosporin plant. The production from this plant will be expected to generate from this year last quarter.

Commenting on the results and performance, Mr. Mahendra Patel, Managing Director, Lincoln Pharmaceuticals Limited, said, \"Company has delivered a robust operational and financial performance during the quarter and confident to improve our growth numbers going forward. Recently company has also received an approval from Australia\'s medicines and medical devices regulator - Therapeutic Goods Administration (TGA) for its Khatraj facility. TGA and EU GMP approvals will further strengthen company\'s presence in the export market. Strategic growth initiatives, product and geographical expansion, operational efficiency are likely to maximize value for all stakeholders in the near to medium term.\"

Highlights: - 9MFY23 Results

For nine months ended December 2022, company reported Total Income of Rs. 416.39 crore, higher by 10.26% over previous fiscal\'s same period Total Income of Rs. 377.64 crore. Net profit of the company was reported at Rs. 60.34 crore for the nine months ended December 2022 as against net profit of Rs. 58.33 crore in the corresponding period last year, growth of 3.44%. EPS for the nine months of FY23 was reported at Rs. 30.12 per share. Exports (FOB) in nine months of FY23 at Rs. 221.04 crore.

Exports for Q3 FY23 was reported at Rs. 81.46 crore. Export business of the company has shown remarkable growth in the last few years and had increased to 65% of total sales in FY21 from 11% of total sales in FY13. Company currently exports to 60 plus countries including East & West Africa, Central & Latin America and Southeast Asia. Company looks to enter the EU markets during the current financial year.

Over the last 5 years, Lincoln Pharmaceuticals Ltd has delivered a robust 30% CAGR in profits and higher single digit growth in sales. The liquidity position of the company is on a strong foundation, supported by healthy cash accruals, no term debt and healthy return ratios. Backed by improvement in the company\'s financial risk profile, steady growth in scale & margins, healthy profitability, rating agency ICRA has upgraded the company\'s long-term and short-term bank facilities to A and A1 respectively.

Lincoln Pharma has a state-of-the-art manufacturing facility unit at Khatraj in Ahmedabad, Gujarat, complying with stringent international quality and compliance norms and certified by EUGMP, WHO-GMP and ISO-9001: 2015. Company has developed 600 plus formulations in 15 therapeutic areas and has a strong product/brand portfolio in anti-infective, respiratory system, gynaecology, cardio & CNS, anti-bacterial, ant-diabetic, anti-malaria among others. Company has filed 25 plus patent applications and is awarded with seven patents. Company has a strong presence in the domestic market nationally with a dedicated field force of over 600 personnel who cater to more than 30,000 doctors, chemists across the country.

User :- Gopal Modi

Email :-gopal@coldcococonsultancy.com