Sai Life Sciences (SAILIFE) Q3 24/25 earnings summary

Executive summary

• Achieved 15% year-over-year revenue growth in Q3 FY 2025, driven by robust performance in both CDMO (60% of revenue) and CRO (40%) segments, leveraging an integrated CRDMO model and expanding global presence.

• EBITDA grew 19% year-over-year with a 110 bps margin expansion; PAT increased 36% year-over-year due to operational efficiencies and a strong order pipeline.

• Board approved unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2024.

• Company completed its IPO and listed shares on NSE and BSE on 18 December 2024.

• Focus remains on strengthening service offerings, expanding into new modalities, and driving operational excellence for sustainable stakeholder value.

Financial highlights

• Q3 FY 2025 consolidated revenue: INR 440 crore, up 15% year-over-year; EBITDA at INR 124 crore, up 19% YoY; PAT at INR 54 crore, up 36% YoY.

• Nine-month FY25 consolidated revenue: INR 1,142 crore, up 9% YoY; EBITDA at INR 264 crore, up 50% YoY; PAT at INR 82 crore, up 207% YoY.

• EPS rose 32% to INR 2.9 for the quarter; nine-month EPS at INR 4.40.

• Gross margin for the nine months was 73%, up from 69% year-over-year.

• Operating cash flow for nine months: INR 246 crore (92%-93% of EBITDA); positive free cash flow of INR 21 crore.

Outlook and guidance

• Long-term aspiration for 15%-20% revenue CAGR and EBITDA margin of 28%-30% over the next 3-5 years.

• Q4 and H2 expected to be stronger than H1, consistent with historical seasonality.

• Sustained growth momentum expected, supported by a strong order pipeline and ongoing investments in infrastructure and capabilities.

• Anticipates reduction in interest costs in the next quarter following full repayment of planned IPO-related debt.

• Ongoing investments in capacity, digitization, and automation to drive future growth.