Orchid Pharma (ORCHPHARMA) Q4 24/25 earnings summary

Executive summary

• FY24 sales reached INR 922 crore, up 13% year-over-year, with Q4 sales at INR 237 crore, up 9% YoY.

• EBITDA for FY24 was INR 156 crore, up 11% YoY; Q4 EBITDA was INR 40 crore, down 2% YoY.

• Profit after tax for FY24 rose 12% to INR 106 crore, though Q4 PAT dropped 15% YoY.

• Growth achieved despite a one-time INR 6 crore GMP inspection expense and a INR 9 crore operating loss from the new AMS division.

• Inspections by European and U.S. authorities were completed satisfactorily.

Financial highlights

• FY24 sales: INR 922 crore (+13% YoY); Q4 sales: INR 237 crore (+9% YoY).

• FY24 EBITDA: INR 156 crore (+11% YoY); Q4 EBITDA: INR 40 crore (down 2% YoY).

• FY24 PAT: INR 106 crore (+12% YoY); Q4 PAT: INR 28 crore (down 15% YoY).

• Dhanuka Laboratories (to be merged): FY24 sales INR 506 crore, EBITDA INR 48 crore.

• Receivables surged due to high sales in the last two months; inventory increased as company resisted price cuts amid market pressure.

Outlook and guidance

• FY26 expected to be muted due to ongoing pricing pressure and CapEx ramp-up for the 7-ACA facility.

• Mid-teens margin aspiration remains, supported by volume growth, mix optimization, and cost control.

• Two to three differentiated testosterone ANDAs planned for US filing in the next 12–18 months.

• AMS division expected to break even in two years, with focus on hospital penetration ahead of Cefiderocol launch.