Eris Lifesciences Reports 37% Revenue Growth & 30% PAT Increase
On an yearly basis, gross profit for FY24 was Rs16,291 million, up 22 per cent from Rs 13,328 million in FY23
Eris Lifesciences, an Indian branded formulations manufacturing company, has announced robust financial results for the fourth quarter and the full fiscal year 2024.
For Q4 FY24, Eris Lifesciences reported a revenue of Rs 5,509 million, marking a 37 per cent year-over-year increase from Rs 4,028 million in Q4 FY23. The full-year FY24 revenue rose 19 per cent year-over-year, reaching Rs 20,091 million compared to Rs 16,851 million in FY23. Gross profit for Q4 FY24 stood at Rs 4,327 million, a 31 per cent increase from Rs 3,300 million in the same quarter the previous year. On an yearly basis, gross profit for FY24 was Rs16,291 million, up 22 per cent from Rs 13,328 million in FY23.
The company's EBITDA for Q4 FY24 was Rs 1,484 million, reflecting a 25 per cent year-over-year increase from Rs1,189 million in Q4 FY23, with an EBITDA margin of 27 per cent. For the full year, FY24 EBITDA reached Rs 6,748 million, a 26 per cent increase from Rs 5,367 million in FY23, with a 34 per cent EBITDA margin. The PAT for Q4 FY24 was Rs 796 million, a 30 per cent rise fromRs 615 million in Q4 FY23, resulting in a PAT margin of 15 per cent. The full-year FY24 PAT was Rs 3,971 million, a 6 per cent increase from Rs 3,742 million in FY23, with a PAT margin of 20 per cent.
Commenting on the results, Amit Bakshi, Chairman and Managing Director of Eris Lifesciences, stated, “Our domestic branded formulation business, which recorded an organic growth of 15 per cent in Q4 FY24, is well on track to maintain this momentum in FY25. Our foray into India's injectables segment is poised to be our nextRS 1,000 crore franchise over the next five years, providing a significant boost to our growth trajectory. We will continue to expand our R&D program, which now has over 20 active FDC candidates in the pipeline, driving value creation through our specialty-focused strategy combined with flawless execution.”
The branded formulations segment saw revenue growth of 18 per cent year-over-year. The Eris MJ (Insulin Business) organically generated around Rs 46 crore in revenue for FY24. Additionally, fifteen out of the top twenty mother brands ranked among the top five in their respective markets, with six mother brands achieving revenues above Rs 100 crore. The company also launched over 50 new products across various therapies.
