Balaxi Pharmaceuticals (BALAXI) — concall transcript

📢 Key Event
Balaxi Pharmaceuticals reported Q2 FY23 revenue of INR 86.40 crore, up 23% QoQ, driven by Latin American volume growth, with EBITDA at INR 14.80 crore and PAT up 28.5% YoY to INR 15.50 crore.

🔄 What Changed
Revenue grew 23% QoQ to INR 86.40 crore; EBITDA margins expanded 46 basis points to 17.1%; PAT increased 28.5% YoY to INR 15.50 crore.

🔮 What's Next
Commissioning of the EU-GMP compliant manufacturing facility near Hyderabad is targeted for March 2024, with groundbreaking scheduled for December 12, 2022.

💡 Investor Takeaway
The company is building a backward-integrated, EU-GMP compliant facility to reduce costs, improve margins, and capture higher pricing in new markets, with profitability expected to rise from FY25-26.

Balaxi Pharmaceuticals reported Q2 FY23 revenue of INR 86.40 crore, up 23% QoQ, driven by Latin American volume growth, with EBITDA at INR 14.80 crore and margins expanding 46 basis points to 17.1%. PAT rose 28.5% YoY to INR 15.50 crore, and EPS stood at INR 15.49. The company highlighted progress on its EU-GMP compliant manufacturing facility near Hyderabad, with groundbreaking scheduled for December 12, 2022, and commissioning targeted for March 2024. It emphasized backward integration benefits, including cost reduction, supply chain control, and premium pricing potential of 3-4% post-EU-GMP approval, which will enable entry into new markets across Southeast Asia, Central Africa, and Latin America. The facility will support oral solid dosages and liquid injectables. Management confirmed no supply chain disruptions despite Chinese lockdowns, with raw material imports stabilizing and freight costs moderating from peak levels.

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About Balaxi Pharmaceuticals Ltd (BALAXI)

Healthcare · Pharmaceuticals · Listed on BSE

ROE: 1.1% ROCE: 3.6%

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🔥 Also filed on 30 September 2022

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