In the July-September quarter for the fiscal year 2022-23, Syngene International reported a profit of 102 crores. Fast forward to the same quarter in the fiscal year 2023-24, the company has managed to boost its profits to 116.5 crores. This surge is accompanied by a significant rise in the company’s revenue.
Syngene International Q2 Breakdown:
- Revenue: In a year-on-year comparison, the revenue rose from 768.1 crores in the fiscal year 2022-23 to an impressive 910 crores in the fiscal year 2023-24.
- EBITDA: EBITDA, or operating profit, also witnessed an uptick. It increased from 216.3
crores in the July-September quarter of 2022-23 to 254.1 crores in the same quarter of 2023-24.
- EBITDA Margin: Despite the promising growth in both profit and EBITDA, there was a slight contraction in the EBITDA margin. It decreased from 28.2% in the 2022-23 fiscal year to 27.9% in 2023-24, indicating margin pressures.
Stock Performance of Syngene International:
Over the past three months, the company’s share price saw a decline of 1%. However, in a broader view, the share price has appreciated significantly. Over a span of one year, the stock surged by 45%, and in the past three years, it has climbed by 40%. Such growth trends often attract investors’ attention and can influence buy or sell decisions.
Changes in Promoters’ Stake:
It’s worth noting that there has been a reduction in the shareholding by the promoters. The stake which stood at 64.86% in September 2022, dropped to 54.79% by September 2023.
In conclusion, Syngene International has showcased robust financial growth, with both revenue and profits on the rise. However, the slight dip in EBITDA margins and the reduction in the promoter’s shareholding are points to be observed carefully by investors and market analysts.
