HYDERABAD, India, Oct. 12, 2020 — Balaxi Pharmaceuticals Limited (BPL), a branded IPR-based pharmaceutical company, today announced its results for the quarter and half year ended 30th September, 2020.
Financial Highlights – H1FY21:
- The Company recorded a revenue of INR 1,124 million. Incremental growth is due to consolidation of newly acquired subsidiaries of Guatemala and Dominican Republic.
- EBITDA came in at INR 193 million; EBITDA margin at 17.2%.
- PAT came in at INR 188 million; PAT margin at 16.7%.
Particulars (INR mn)
Q2FY21
Q1FY21
Q-o-Q%
ADVERTISEMENTH1FY21
Revenue
603
521
16%
1,124
EBITDA
103
90
14%
193
EBITDA Margin %
17.1%
17.3%
-20 bps
17.2%
PAT
101
87
16%
188
PAT Margin %
16.8%
16.7%
10 bps
16.7%
Segmental Performance:
Revenue (INR mn)
Q2FY21
Q1FY21
Q-o-Q %
H1FY21
Pharmaceuticals
385
322
20%
706
Ancillary
177
131
36%
308
Branded Consumer Products
41
68
-40%
109
- Revenue from Pharmaceutical business saw sequential growth of 20% on account of new product launches and better product mix in Q2Y21. Sales mix of Branded: Generics in Q2FY21 stood at 29:71 as against 25:75 in Q1FY21.
- Pharmaceutical business segment contributes 63% of the consolidated revenues and 73% of the consolidated EBITDA.
- Ancillary business witnessed an increase in revenue to INR 177 million in Q2FY21 versus INR 131 million in Q1FY21 registering a growth of 36% Q-o-Q.
- Branded Consumer products top-line declined from INR 68 million in Q1FY21 to INR 41 million in Q2FY21. The de-growth was due to supply chain disruptions amidst the lockdown in Angola in the wake of COVID-19 pandemic.
Update on Pharmaceutical Product Registrations:
Particulars
Angola
Guatemala
Dominican Republic
Honduras
El Salvador
Central African Republic
Existing Product Registrations
289
79
136
24
20
–
Product Registrations in Pipeline
–
115
52
120
120
175
Commenting on the performance, Mr. Ashish Maheshwari, Chairman and Managing Director said, “We are delighted to report a decent growth in our business amidst Covid-19 pandemic. The Company has 548 pharmaceutical product registrations spanning across 5 countries and 582 product registrations in pipeline. We also have a well-established expert regulatory team, which carefully monitors the registration process at every stage. We aim to double our pharmaceutical product registrations over next 2 years.”
