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Syngene: Look beyond the near-term input cost pressure

Syngene continues to guide for a mid-teen revenue growth in FY22. This appears possible, given the improved demand scenario and the strong traction in H1 FY22

October 22, 2021 / 01:21 PM IST
Syngene: Look beyond the near-term input cost pressure

Shilpa Medicare | The company raised Rs 297.51 crore from marquee investors including Malabar India Fund, Malabar Select Fund, Malabar Midcap Fund, Think India Opportunities Master Fund LP, Blue Daimond Properties, Ohm Core Investment Corp, Hypnos Fund and Madhusudan

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Syngene International Ltd (CMP: Rs 596, Market Cap: Rs 23,873 crore), a leading contract research organisation (CRO), has reported a mixed set of results. While the growth in the top line was decent, commodity inflation impacted margins. Q2 impacted by margin compression Syngene posted a 17 per cent YoY (year-on-year) growth in the top line with strong contributions from all the segments — dedicated R&D centres, drug discovery services and development & manufacturing services. Discovery services saw a positive demand for newer...

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