NATCO Pharma (NATCOPHARM) Q1 24/25 earnings summary

Executive summary

• Q1 FY25 consolidated revenue was INR 14,107 million, up 21.6% year-over-year, with net profit at INR 6,685 million, a 59% increase, mainly driven by export formulations and strong pharmaceuticals performance.

• EBITDA for Q1 FY25 was INR 8,529 million, and basic and diluted EPS stood at INR 37.32 per share.

• Export formulations contributed INR 12,101 million, while domestic formulations were INR 1,022 million.

• Interim dividend of INR 3 per equity share was declared for the quarter.

• Three ANDAs were filed with the USFDA during the quarter.

Financial highlights

• Q1 FY25 revenue: INR 14,107 million vs. INR 11,602 million in Q1 FY24.

• Net profit: INR 6,685 million vs. INR 4,203 million year-over-year.

• EBITDA margin improved to 60.5% in Q1 FY25 from 47.2% in Q1 FY24.

• PAT margin rose to 47.4% in Q1 FY25, up from 36.2% in Q1 FY24.

• EPS for Q1 FY25 was INR 37.32, up from INR 23.26 in Q1 FY24.

Segment performance

• Export formulations accounted for 86% of Q1 FY25 revenue, rising to INR 12,101 million from INR 8,842 million in Q1 FY24.

• Domestic formulations revenue was INR 1,022 million, down from INR 1,324 million in Q1 FY24.

• API revenue was INR 392 million, and crop health/agro chemicals contributed INR 156 million, with the segment facing headwinds and losses.

• Pharmaceuticals segment revenue was INR 13,470 million, up from INR 10,918 million in Q1 FY24.

• Agro chemicals segment result was a loss of INR 198 million, compared to a profit of INR 43 million in Q1 FY24.