IOL Chemicals and Pharmaceuticals Reports Q3 FY23 Results

· Total Income stood at Rs 530 Cr against Rs. 546 Cr QoQ and Rs 564 Cr YoY

· EBITDA at Rs. 50 Cr as compared to Rs. 37 Cr QoQ and Rs 68 Cr YoY

· Net profit of the Company at Rs 24.15 Cr against Rs. 15.67 Cr QoQ and Rs. 40.07 Cr YoY

· Paracetamol capacity expansion by 1,800 MTPA completed

· Company focusing on frugal manufacturing practices to reduce raw material cost and expand margins

7th February 2023, Mumbai:

IOL Chemicals and Pharmaceuticals Limited, a leading manufacturer of pharmaceutical (APIs) and specialty chemicals reported results for the 3rd quarter and nine months ended 31st December 2023 as highlighted herein below:

Q3FY23 Financial Highlights
(Rs in Crore)
Particulars

Q3 FY23

Q2 FY23

QoQ % Change

Total Income

530.12

546.47

-2.99

EBITDA

49.68

36.73

35.26

EBITDA Margin (%)

9.37%

6.72%

39.43

PAT

24.15

15.67

54.12

Operational highlights

· Granted a patent for “an improved safe process for the preparation of Sartan drugs of Formula I” by Indian Patent Office

· Recently received EUGMP Certification from National Institute of Pharmacy and Nutrition, Hungary, which will help the Company in more penetration in European market for its products.

Commenting on the quarterly performance, Dr Sanjay Chaturvedi, Executive Director & CEO said, “The quarterly performance reflects our commitment to control our costs and improve our margin trajectory. For the third quarter, EBITDA and Net Profit margins – both have improved sequentially. Apart from cost rationalisation, we have completed our capacity enhancement of Paracetamol by 1,800 MTPA to take total capacity to 3,600 MTPA with Backward integration of Para Amino Phenol (PAP) and we expect this capacity enhancement to boost volume growth from next quarter onwards.”