Syngene International reports healthy Q4FY20 performance

Syngene International reported healthy performance in the fourth quarter of FY20. Its revenue for the quarter improved 13 per cent YoY to Rs 627.8 crore from Rs 554.7 crore in Q4FY19. This revenue growth was driven by robust performance in discovery and development services.

EBITDA for Q4FY20 surged 24 per cent YoY to Rs 224.6 crore with corresponding margin expansion of almost 300 bps while, EBITDA margin for the quarter stood at 36 per cent.

Profit after tax in this quarter was at Rs 120.2 crore, up by 20 per cent YoY. PAT margin in the quarter improved to 19 per cent.

Notably, the company has a strong balance sheet with Rs 362.3 crore net cash position.

Besides, it successfully cleared USFDA inspection of the small molecule bioanalytical laboratory within the clinical development service line with no observations. The company commissioned the first phase of a new research facility in Bengaluru that will house discovery biology, QC microbiology and other research capabilities. It also completed the construction of the API manufacturing facility in Mangaluru and commenced the commissioning phase.