Entero Healthcare Solutions (ENTERO) Q4 23/24 earnings summary

Executive summary

• FY24 consolidated revenue rose 19% to Rs 39,223.10 mn; net profit was Rs 397.99 mn versus a net loss of Rs 111.04 mn in FY23.

• Revenue growth of 19% exceeded the cited 7.6% Indian pharmaceutical market growth rate.

• Growth strategy combines organic expansion, technology-led distribution and acquisitions; 38 acquisitions have been completed or announced since inception.

Financial highlights

• Q4FY24 consolidated revenue was Rs 10,341.76 mn, up 17% YoY; gross profit rose 30% to Rs 926 mn and gross margin increased 95 bps to 9.0%.

• Q4FY24 EBITDA increased 42% YoY to Rs 289 mn, with margin up 49 bps to 2.8%; net profit was Rs 211.76 mn versus a loss of Rs 38.14 mn.

• FY24 gross profit increased 31% to Rs 3,520 mn, with gross margin up 84 bps to 9.0%.

• FY24 EBITDA rose 75% to Rs 1,118 mn and margin increased 91 bps to 2.9%; net profit was Rs 397.99 mn versus a loss of Rs 111.04 mn.

• Standalone FY24 revenue was Rs 3,181.61 mn and net profit Rs 384.40 mn; Q4 revenue was Rs 1,065.61 mn and net profit Rs 372.79 mn.

Segment performance

• Operations comprise one reportable segment: trading of pharmaceutical and surgical products.