Torrent Pharma announces Q4 FY21 results

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Torrent Pharma announces Q4 FY21 results.

Torrent Pharma announces Q4 FY21 results

Revenues & profitability:

  • Revenues were stable at Rs. 1,937 crores
  • Grossmargins were at 74% and Operating EBITDA margins were at 30%
  • Operating EBITDA at Rs. 582 crores was up 6%
  • Net profits grew by 3%; adjusted for a one-time tax benefit, net profit grew by 24%.
  • There was a one time tax benefit of Rs. 53 crores under the CARES Act enacted by US Government in March 2020 in response to Covid -19 Pandemic

India:

  • Indiarevenues at Rs 922 crores grew by 10%
  • As per AIOCD data, Torrent’s Q4 FY21 growth was 6% versus IPM growth of 5%
  • Growth was driven by continued recovery in chronic, sub-chronic and acute therapies, and aided by market share gains in high potential new launches
  • PCPM for the quarter was Rs 8.5 lakhs with an MR strength of 3,600
  • For FY21, revenues were Rs 3,739 crores, up by 6%.

United States:

  • US revenues at Rs 269 crores were down by 30%.
  • Constant currency sales were $37 million.
  • Sales was impacted by price erosion on base business & base impact of Sartan portfolio discontinuation.
  • As on March 31, 2021, 54 ANDAs were pending approval and 6 tentative approvals were received. 8 ANDA was filed during the quarter.
  • For FY21, revenues were Rs 1,261 crores, down by 17% (Constant currency sales: $166 million).

Brazil:

·       Brazil revenues at Rs 189 crores, were down by 3%

·       Constant currency sales at R$ 141 million, was up by 19%.

·       As per IMS data, Branded Generic market grew by 5% in Q4 FY21.

·       For FY21, revenues were Rs 630 crores, down by 12% (Constant currency sales: R$ 454 million, up by 11%).

Germany:

  • Germany revenues at Rs 267 crores were up by 23%
  • Constant currency sales were Euro 30 million up by 14%
  • Market performance was affected due to extension of lockdown
  • For FY21, revenues were Rs 1,038 crores, up by 10% (Constant currency sales: flat at Euro 119 million).

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