Innova Captab Limited reported a strong set of numbers for FY 24 with Revenue from Operations at ₹1,081.31 crore and Profit After Tax at ₹ 94.35 crore

Mumbai: 29th May 2024: Innova Captab Limited (BSE: 544067, NSE: INNOVACAP)  is an integrated pharmaceutical company in India with a presence across the pharmaceuticals value chain including research and development, manufacturing, drug distribution and marketing and exports has announced its financial results for the last quarter and full year ended March 31st, 2024

Financial Performance: FY24 v/s FY23

• Total Income for the FY 24 stood at ₹ 1,093.79 Crore against ₹ 935.58 Crore in FY 23 with growth of 16.9% over FY 23.

• Revenue from Operation has increased to ₹ 1,081.31 Crore in FY 24 from ₹ 926.38 Crore in FY 23, registering a growth of 16.7%.

• The Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) stands at ₹ 166.94 Crore in FY24, as against ₹ 122.85 Crore in FY 23, with an increase of 35.9%.

• Profit After Tax (PAT) is ₹ 94.35 Crore in FY 24 as against ₹ 67.95 Crore in FY 23, registering a growth of 38.9%.

• Earnings per share (EPS) for FY 24 is ₹ 18.66, against ₹ 14.16 in FY 23

• For FY24, net cash generated from operating activities stood at ₹ 146 Crore, against ₹ 67 Crore in FY 23.

Financial Performance: Q4FY24 v/s Q4FY23

● Revenue from operation is ₹ 262.63 Crore in Q4 FY24 as against ₹ 240.95 Crore of previous year registering a growth of 9.0%.

● The Company’s EBITDA stood at ₹ 43.76 Crore in Q4 FY24 against ₹ 29.42 Crore of previous year registering a growth of 48.7%.

● Profit After Tax (PAT) stood at ₹ 28.72 Crore in Q4 FY24 against ₹ 17.25 Crore of previous year registering a growth of 66.5%.

Commenting on the results, Vinay Lohariwala, Managing Director, - Innova Captab Limited said, For FY24, we reported a total income of ₹ 1,094 crore with a growth of 16.9% compared to the previous year. Our all business areas are getting good traction and are expected to grow at a healthy rate in the coming years.

Over the last 3-4 years, we have grown at a healthy rate of ~ 20% CAGR. With our upcoming Jammu facility and recent Sharon acquisition, we are positively looking forward to maintaining the same healthy growth rate over the next 3-4 years.

As a company we continue to drive sustainable growth by exploring new opportunities and focusing on value-added products. Indian pharmaceutical companies are set to experience significant growth in the mid to long term, as both domestic and global manufacturers seek reliable and sustainable suppliers like us.

About Innova Captab Ltd  : https://www.innovacaptab.com :  

The foundation of Innova is their in-house research and development which helps to focus on building complex product portfolio. As a major CDMO player, Innova caters to India’s top 14 out of 15 pharmaceuticals companies and have license to manufacture products through four state of the art manufacturing facilities at Baddi - Himachal Pradesh, Dehradun - Uttarakhand and at Taloja - Maharashtra while maintaining WHO-GMP, EU-GMP, UK-MHRA and other major registrations with these facilities.

By Q2’FY25, the upcoming greenfield plant in Jammu is expected to be commercialized and commence operations in all the four blocks i.e cephalosporin, penicillin, penum and BFS to manufacture oral solid dosages, dry powder injections, dry syrup, BFS and respiratory respule products. 

With the acquisition of Sharon in June’23, Innova aims to create long-term synergy with additional product offerings like formulations and APIs.

For more information, contact: 

___________________________________________________________________________

Mr. Lokesh Bhasin

Email : investors@innovacaptab.com

www.innovacaptab.com

DISCLAIMER:

Certain statements that are made in the Press Release may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like significant changes in the economic environment in India and overseas, tax laws, inflation, litigation, etc. Actual results might differ substantially from those expressed or implied. Innova Captab Ltd. will not be in any way responsible for any action taken based on such statements and discussions; and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.