Alivus Life Sciences (ALVUS) Q4 21/22 earnings summary

Executive summary

• FY22 revenue from operations rose 12.6% YoY to INR 21,232 million; net profit increased 19.1% to INR 4,187 million.

• Core API demand remained strong: revenue grew 16.3% YoY excluding COVID products, with service continuity maintained despite supply and cost pressures.

• Portfolio covered 137 molecules, serving 700+ customers across 65 countries; generic APIs and CDMO formed a two-pronged growth strategy.

Financial highlights

• Total income rose 13.4% to INR 21,379 million; product sales increased 12.1% to INR 20,874 million, supported by regulated-market growth.

• EBITDA was INR 6,308 million, up 6.6%; net profit reached INR 4,187 million, up 19.1%; basic EPS was INR 35.63 versus INR 32.61.

• Operating cash flow increased 54% to INR 5,976 million; cash and cash equivalents were INR 5,122 million at March 31, 2022.

• Finance costs fell to INR 280 million from INR 875 million following repayment of business purchase consideration; other expenses rose 23.4% to INR 2,955 million.

Outlook and guidance

• Management cited solid API demand and customer confidence; priorities include customer growth, R&D and regulatory filings, operating efficiency, and longer-term capacity additions.

• A fourth CDMO project was expected to commercialise in H2 FY23; three commercial projects were active, with further innovator opportunities under discussion.

• Solapur greenfield site, planned for 600–800 KL capacity over three to four years, was targeted to be operational in FY25; the site supports generic APIs and CDMO.