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Strong Financial Performance Propels Growth for Lincoln Pharmaceuticals Ltd in Q3 FY24

Posted On: 2024-02-08 22:46:09 (Time Zone: IST)


Lincoln Pharmaceuticals Ltd, a prominent player in the healthcare sector, has unveiled its financial results for the third quarter of the fiscal year 2023-24, showcasing impressive growth and resilience amidst challenging market conditions.

Robust Financial Highlights:

Total Income from Operations: The company reported a total income from operations of ?157.47 crores in Q3 FY24, marking a significant increase of 12.38% compared to the same period last year. The cumulative total income for the nine months of FY24 stood at ?465.46 crores, reflecting a commendable growth rate of 11.78% over the previous year.

EBITDA: Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) surged to ?40.67 crores in Q3 FY24, registering a robust year-on-year growth of 22.91%. The cumulative EBITDA for the nine months of FY24 reached ?108.93 crores, representing a notable increase of 19.57% compared to the corresponding period in FY23.

Profitability: The company's profit before tax (PBT) for Q3 FY24 stood at ?37.71 crores, reflecting a substantial year-on-year growth of 23.56%. Similarly, the net profit after tax (PAT) witnessed a remarkable surge, reaching ?28.04 crores, representing a growth of 29.75% compared to Q3 FY23. The earnings per share (EPS) also exhibited a strong growth trajectory, increasing by 29.75% to ?14.00.
Lincoln Pharmaceuticals Ltd's strong financial performance in Q3 FY24 underscores its resilience and ability to navigate through market challenges effectively. The impressive growth in total income from operations, EBITDA, and profitability metrics reflects the company's robust business model, strategic initiatives, and operational efficiency.

The company's focus on innovation, customer-centric approach, and prudent financial management has positioned it well to capitalize on emerging opportunities and drive sustainable growth in the long term. Additionally, Lincoln Pharmaceuticals Ltd's commitment to quality, reliability, and excellence remains unwavering, contributing to its continued success and market leadership.

Looking ahead, Lincoln Pharmaceuticals Ltd is poised to leverage its strengths and capitalize on favorable market dynamics to further enhance shareholder value and deliver superior returns. With a positive outlook for the industry and a strong financial foundation, the company is well-equipped to navigate through uncertainties and emerge as a key player in the healthcare sector.

Mr. Mahendra Patel, Managing Director, Lincoln Pharmaceuticals Limited, said, "We are pleased to announce that the company has sustained strong growth across all business segments in Q3 and nine months of FY24, maintaining a net debt-free status. We anticipate even stronger growth in the future through upcoming product launches in domestic and export markets, improved operational efficiency, and the introduction of higher-margin products. With our steadfast growth strategies, expansion plans for products and markets, and focus on operational efficiency, we are targeting revenue of Rs. 750 crore in FY26."

The company has completed the expansion of its Cephalosporin plant in Mehsana, Gujarat, and has commenced commercial production, with sales initiated in domestic markets. Plans are underway to register the product for export to multiple countries, with anticipated sales of approximately Rs. 150 crore over the next 3 years.

The company currently exports to over 60 countries across East & West Africa, Central, North & Latin America, and Southeast Asia. Recently, exports to Canada have commenced. With approvals from TGA - Australia and EU GMP, the company anticipates expanding its network to over 90 countries, further enhancing its global presence.

Shares of Lincoln Pharmaceuticals Limited was last trading in BSE at Rs. 661.45 as compared to the previous close of Rs. 671.50. The total number of shares traded during the day was 25528 in over 1142 trades.

The stock hit an intraday high of Rs. 702.05 and intraday low of 649.05. The net turnover during the day was Rs. 17651789.00.


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