Biocon Q4 net jumps 78% to Rs 201 cr on Syngene shares sale

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26 Aug, 2025 12:21

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Moneycontrol Bureau

Biocon's fourth quarter profit after tax climbed 78 percent year-on-year to Rs 201 crore led by exceptional gains of Rs 105.06 crore (on account of sale of shares of Syngene).

Overall it was a pleasant surprise on earnings as the street was expecting another dismal quarter but numbers were better than expectations. Though the profit was fueled by exceptional inflow, the topline indicated pure organic improved performance.

Revenue grew by 14.5 percent to Rs 854 crore during January-March quarter compared to Rs 746 crore in the year-ago period and expectations of Rs 791.1 crore.

"Biocon closed the year with a stronger performance in Q4 on the back of a record quarterly performance by our Research Services subsidiary, Syngene and an improved performance of our Biopharma business," said Kiran Mazumdar-Shaw, chairman and managing director.

Operating profit jumped 4.7 percent year-on-year to Rs 202 crore for the quarter ended March 2015 from Rs 193 crore in the same quarter last year. Analysts had estimated at Rs 166.05 crore.

However, operating profit margin declined 225 basis points to 23.65 percent in fourth quarter of FY15 compared to 25.9 percent in the corresponding quarter of previous fiscal.

Expenses climbed 18 percent year-on-year to Rs 652 crore and research & development shot up 93 percent Y-o-Y to Rs 56 crore in March quarter while other income rose by 8 percent to Rs 24 crore during the same period.

Biopharma business, which consists of small molecule API, generic formulations, biosimilars and branded formulations, grew by 11 percent to Rs 592 crore during January-March quarter compared to Rs 535 crore in the year-ago period.

Branded formulations (India) rose by 6 percent Y-o-Y to Rs 98 crore while Biopharma (ex-India branded form) increased by 12 percent Y-o-Y to Rs 494 crore, which included licensing income of Rs 5 crore.

The company said though Biopharma performance has been better in Q4, business growth continued to be impacted by time taken in redeploying sales from the MENA region to other geographies, reduced offtake of specialty API and capacity constraints in insulins.

Biocon further said the Malaysia insulins plant has been commissioned. "We have initiated steps required to qualify the plant. Once these activities are concluded, we will seek necessary approvals from emerging market regulators before starting commercial supplies," it elaborated.

Contract research and manufacturing services (CRAMS - Syngene) business continued its good performance. Infact it was the strongest quarterly performance ever. Contract research business grew by 27 percent Y-o-Y to Rs 238 crore. "Full year sales of Rs 823 crre and Y-o-Y growth of 15 percent were supported by a second half performance that delivered 23 percent growth," it explained.

Biocon’s research services subsidiary, Syngene, has filed draft red herring prospectus (DRHP) with SEBI for its initial public offering (IPO) in April.

The branded formulations business recorded revenues of Rs 98 crore in Q4 FY15, registering a growth of 6 percent Y-o-Y.

In FY16, "We are clearly seeing our biosimilar strategy playing out with greater clarity, credibility and traction visible across our portfolio of Biologics as they advance in clinical development," Kiran said.