Vimta Labs (524394) Q1 24/25 earnings summary

Executive summary

• Q1 FY25 total income reached INR 824 million, with EBITDA at INR 252.1 million and EBITDA margin of 30.6%.

• PAT for Q1 FY25 was INR 123 million, with a PAT margin of 14.9% and basic EPS of INR 5.54.

• Business remained stable with 3% sequential revenue growth, led by pharmaceutical services.

• Successful US FDA remote audit with no observations and grant of INR 40.9 million for food lab upgrades.

• Standalone and consolidated unaudited financial results for Q1 FY25 were reviewed and approved by the Board on July 17, 2024.

Financial highlights

• Q1 FY25 consolidated revenue from operations was INR 817.55 million, down from INR 834.85 million in Q1 FY24.

• EBITDA at INR 252.1 million, nearly flat year-over-year; EBITDA margin improved to 30.6%.

• PAT increased 0.7% year-over-year to INR 123 million, with a PAT margin of 14.9%.

• Cash and equivalents at INR 324 million; total borrowing at INR 120 million; debt/equity ratio at 0.04x.

• CapEx for Q1 FY25 was INR 164 million.

Outlook and guidance

• New Hyderabad facility to be commercial in Q2 FY25, with phased equipment transfer.

• Targeting step-up in revenue in Q2 and aiming for INR 950-1,000 million quarterly revenue by Q4 FY25.

• Confident of reaching INR 5,000 million annual revenue by FY26, with potential for further growth.

• Initial utilization of new capacity expected at 20-30% in the first year.

• The proposed amalgamation of EMTAC Laboratories Private Limited is underway, with NCLT exemption from meetings.