(MENAFN- ForPressRelease) Ahmedabad, August 10, 2023: Lincoln Pharmaceuticals Limited, one of India's leading healthcare companies has reported a standalone net profit of Rs. 19.01 crore for the Q1 FY 2023-24 ended June 2023 as against net profit of Rs. 15.01 crore in Q1 FY2022-23, growth of 26.66% Y-o-Y. Total income for the quarter ended June 2023 was reported at Rs. 143.31 crore, higher by 10.27% Y-o-Y over total income of Rs. 129.97 crore in Q1 FY2022-23. EBITDA for Q1FY24 was reported at Rs. 28.41 crore as compared to EBITDA of Rs. 23.41 crores in Q1FY2022-23, growth of 21.36% Y-o-Y. EPS for Q1FY24 was at Rs. 9.49 per share.
1) Update on Cephalosporin Plant – The Company started selling in domestic market as well as exporting goods. For other countries plant inspection and product registration is under process.
2) Update on EU Operations – The Company had started exporting to Canada.
Commenting on the results and performance, Mr. Mahendra Patel, Managing Director, Lincoln Pharmaceuticals Limited, said, "Company has delivered an excellent operational and financial performance in Q1FY24. Company has maintained healthy growth in domestic operations, export business, profitability and margins. Company is progressing well on its long-term growth roadmap and has been able to achieve profit growth every single year over the last 10 years and among a very few companies to do so. Company has set a target of achieving Rs. 750 crore revenue by FY26 while maintaining or improving its margins."
During FY23, company launched 18 products in the domestic market and filled 130 plus dossiers in the export market. In FY24, company will continue to build a strong portfolio in lifestyle and chronic segment especially women healthcare, dermatology to complement its strong presence in the acute segment. Company has over 1,700 registered products and another 700 in pipeline.
For FY23, company has reported its Best-ever results in a financial year with highest - Revenue, EBITDA and Net Profit. Company achieved milestone of Rs. 500 crore plus revenue and Rs. 100 crore plus profit before tax for the first time in a financial year.
Over the last 5 years, the company has delivered a 17.4% CAGR in profits and higher single-digit growth in sales. The company has been successful in increasing its profit margins from around 9.9% in FY18 to over 14.9% in FY23. The liquidity position of the company is on a strong foundation, supported by healthy cash accruals, no-term debt, and healthy return ratios. Over the last few years, promoter group have gradually increased their stake in the company. Foreign institutional investors holding as on March 2023 stands at 1.27%.
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; ISO-9001: 2015; ISO-14001: 2015 and ISO-45001: 2018. 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
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