Anthem Biosciences (ANTHEM) Q4 23/24 earnings summary

Executive summary

• FY24 consolidated revenue rose 34.29% YoY to ₹141,936.96 lakh; net profit was ₹36,731.00 lakh versus ₹38,518.51 lakh in FY23.

• Growth spanned CRDMO and Specialty Ingredients, supported by Unit II’s USFDA approval, capacity additions and further regulatory clearances.

Financial highlights

• Consolidated revenue from operations was ₹141,936.96 lakh versus ₹105,692.43 lakh; total income was ₹148,306.87 lakh versus ₹113,399.27 lakh.

• Consolidated expenses were ₹100,575.09 lakh versus ₹69,849.75 lakh; profit before exceptional items and tax increased to ₹47,731.79 lakh from ₹43,549.53 lakh.

• Consolidated PAT was ₹36,731.00 lakh versus ₹38,518.51 lakh; basic and diluted EPS were ₹6.47 versus ₹6.77.

• FY23 included an exceptional item of ₹6,180.24 lakh; FY24 had none, leaving reported PBT at ₹47,731.79 lakh versus ₹49,729.77 lakh in FY23.

• Standalone revenue increased 34.12% YoY to ₹141,753.90 lakh; PAT was ₹37,478.07 lakh versus ₹38,567.11 lakh.

Outlook and guidance

• FY25 plans include Unit II custom synthesis expansion of 130 kL, expected operational by H1 2025; aggregate custom synthesis and fermentation capacity is projected to reach 425 kL and 182 kL after expansion.

• Unit III is being commissioned in phases, with peptides, high-potency, hydrogenation and probiotics blocks expected from end-2024 through H1 2025.

• Priorities include biotransformation, flow chemistry, ADCs, HPAPI, RNAi, oligonucleotides and peptides, plus lab-scale photochemistry and electro-synthesis capabilities.

• Specialty Ingredients growth focus includes complex biologics manufacturing; GLP-1 samples are being supplied to customers targeting market entry by 2026.