Third quarter revenue from operations up 13% to Rs. 585 Cr. PAT up 11% to Rs. 102 Cr.

Jan 21 2021

 

Syngene International Limited today announced its third-quarter FY21 results. The Company posted quarterly revenue from operations of Rs. 585 Cr. compared to Rs. 519 Cr. in the corresponding quarter of last year. EBITDA and PAT for the quarter were both up 11% to Rs. 193 Cr. and Rs. 102 Cr. respectively.

Commenting on the results, Mr Jonathan Hunt, Managing Director and Chief Executive Officer, Syngene International Ltd. said, “We are pleased to report third-quarter growth in line with our guidance with revenue from operations growing 13% while PAT was up 11%. Sustained focus on employee and campus safety helped us maintain near-normal operations across all our campuses despite the continuing pandemic.

Earlier in the quarter, we signed an agreement with Deerfield Discovery and Development (3DC) to advance therapeutic discovery projects from target validation through to pharmacological proof of concept and preclinical evaluation, both in large and small molecules. As part of this agreement, 3DC has awarded us four new IDD projects. Integrated drug discovery (IDD) is a strategic focus area for the Company. This reflects our ability to deliver projects from early discovery to the clinic. During the quarter, our scientists have continued to support the government and the community in the fight against the coronavirus by using our domain knowledge and infrastructure.

Overall, the third quarter performance puts the Company on course to close the year in line with our guidance.”

 

 

Quarterly Financial Highlights (All numbers in Rs. Cr except margins)

 

Q3 FY21

Q3 FY20

YoY Change (%)

Revenue

602

539

12%

Revenue from operations

585

519

13%

EBITDA

193

173

11%

EBITDA Margin (%)

32%

32%

 

PAT

102

92

11%

PAT Margin (%)

17%

17%

 

 

9M FY21 Financial Highlights (All numbers in Rs. Cr except margins)

 

9M FY21

9M FY20

YoY Change (%)

Revenue

1572

1466

7%

Revenue from operations

1526

1405

9%

EBITDA

503

475

6%

EBITDA Margin (%)

32%

32%

 

PAT

244

246

-1%

PAT Margin (%)

15.5%

16.8%

 

PAT including exceptional gain

244

292

 

 

Business Update

Syngene’s third-quarter revenue growth was driven by a sustained performance from all divisions. Continued focus on cost control measures and improving operational efficiency have underpinned profitability and delivered a strong profit margin.

Syngene is committed to expanding its portfolio of integrated drug discovery projects in order to leverage its wide range of skills and capabilities spanning the entire discovery, development and manufacturing value chain. As part of this, Syngene is collaborating with 3DC to advance integrated drug discovery projects, from early target validation through to preclinical evaluation. During the quarter, 3DC has awarded four antibody discovery projects to Syngene in oncology and autoimmune diseases to be executed in 2021.

Continuing its contribution in the fight against COVID-19, the Company completed testing of more than 100,000 samples at its COVID-19 testing facility. It has also set up a new RT-PCR testing facility that has been approved by NABL and ICMR and complies with BSL-2 criteria.

The Company has expanded its research facility in Genome Valley, Hyderabad, India and added capacity for additional 90 scientists. The facility was commissioned in February 2020 with an initial capacity of 150 scientists.

In the Discovery Services division, the Company has received NABL (National Accreditation Board for Testing and Calibration Laboratories) accreditation to provide safety assessment services for testing medical devices from its facility in Bangalore.

Earnings Call

The Company will conduct a 60-minute call at 3 pm IST on January 21, 2021 where the senior management will discuss the Company’s performance and answer questions from participants. To participate in this conference call, please dial the numbers provided below ten minutes ahead of the scheduled start time. The dial-in number for this call is +91 22 62801279 / +91 22 71158180.Other toll numbers are listed in the conference call invitation which is posted on the Company website www.syngeneintl.com. The operator will provide instructions on asking questions before the start of the call. A replay of this call will also be available till January 28, 2021, on +91 22 71945757 / +91 22 66635757, Playback ID: 46273. We will aim to post the transcript of the conference call on the Company website within seven working days of the investor conference call.

 


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Lionsgate Play now available through Apple TV channels in India
Feb 16 2021 By Admin
    Lionsgate Play, the recently launched streaming entertainment service, announces it is now available to customers in India through Apple TV channels on the Apple TV app on iPhone, iPad, Apple TV, iPod touch, Mac, select Samsung, LG, and Sony smart TVs, Amazon Fire TV devices, and PlayStation and Xbox consoles.     Lionsgate Play launched its streaming service in December last year, offering bespoke premium Hollywood content for its Indian consumers. With a philosophy focused on featuring the best from the world, Lionsgate Play has an extensive library with highly curated and best in class content from global giants like BBC, Lionsgate, ITV, and Endeavour. Their content is edgy, thrilling, sensational and urban. Lionsgate Play also has localized their content in India in various regional languages and further will be introducing Indian originals and local language movies in the coming months. Lionsgate Play’s offering includes award-winning titles like Normal People, The Goes Wrong Show, Midway, Love Life, Manhunt, John Wick 3, Knives Out, Primal, Bombshell, and Rambo, to name a few.   Subscribers to Lionsgate Play through Apple TV channels can watch online or enjoy offline downloads of their favorite shows and movies on the Apple TV app. Through Family Sharing, up to six family members can share subscriptions to Apple TV channels using just their Apple ID and password.    Mr. Amit Dhanuka, Executive Vice President, Lionsgate, said, “Apple enjoys unprecedented consumer loyalty and their strong foothold especially amongst premium consumers will help us expand our premium service to all their users. We are proud to offer customers curated compelling and quality content on Lionsgate Play through Apple TV channels in India.”   The Apple TV app brings together all the ways to watch shows and movies into one app and is available on iPhone, iPad, Apple TV, Mac, select Samsung, LG, and Sony smart TVs, Amazon Fire TV devices, and PlayStation and Xbox consoles, and will launch on Chromecast with Google TV early this year. The Apple TV app also features Apple TV+, Apple’s video subscription service offering original shows, movies and documentaries from the world’s most creative storytellers, as well as other Apple TV channels, personalized and curated recommendations, and movies to buy or rent.    

Agencies

Pepsico India launches a new campaign for sting
Feb 21 2021 By Admin
   Sting has unveiled a brand new ‘Energy Bole Toh Sting’ campaign showcasing how the beverage creatively offers a jolt of energy! Electrifying the youth with the energetic campaign, the brand has launched a fun new TVC which is an extension of Sting’s ‘Electrifying energy, ultimate taste” campaign of last year.   The quirky TVC encourages consumers to electrify their moment with the refreshing taste of Sting®. The film showcases a girl in a fix as she looks at an elevator, which has stopped working again.  A boy approaches her and cheekily offers to give her a lift to her floor.  A sip of Sting was all it took for the electrified boy to race up the stairs with the girl being carried on his back. Impressed by the boy’s energy, the girl ends up giving him her number as the film reiterates the new ‘Energy Bole Toh Sting’ messaging.   Speaking about the launch of Sting’s new campaign, Vineet Sharma, Category Director- Mountain Dew & Sting, PepsiCo India said, “Sting is a refreshing drink that not only energizes the body but also stimulates the mind. The new TVC is an interesting and fun take on electrifying moments with the help of Sting and we are confident that this film will resonate strongly with our younger consumers who are always on-the-go.” The new Sting TVC will be amplified across TV, digital, outdoor, and social media with a 360-degree campaign. Sting is available in small single serve packs in 200 ml and 250 ml and large packs in 500ml across all modern and traditional retail outlets in India, as well as on leading e-commerce platforms.
Infectious Advertising's Ramanuj Shastry is one of the Jury members for New York Festivals 2021
Feb 18 2021 By Admin
Ramanuj Shastry, Co-Founder of Infectious Advertising has been named as one of the Jury Members for New York Festivals 2021!     It’s an honour and a pleasure to serve as a jury member in the 2021 edition of the prestigious New York Festival of Advertising. I am excited to see great work from around the world and look forward to interacting with fellow jurors - Ramanuj Shastry, Co-Founder and Director, Infectious Advertising.  
Filter Coffee Co. wins digital marketing mandate of Japanese Skincare brand, Bioré in a multi- agency pitch
Feb 18 2021 By Admin
  Filter Coffee Co., a full-service digital agency, started by Anuja Deora Sanctis has won the digital marketing and eCommerce mandate for global Japanese skincare brand, Bioré which is headquartered in Tokyo. The agency will be handling end-to-end duties including, Social Media, Content, Shoots, Performance Marketing and Influencer Marketing for the brand in India.   Along with strategising for the brand’s digital and social media presence, Filter Coffee Co. will also look into managing the brand's end-to-end content production and influencer marketing in India. The agency will play an important role in increasing the brand's awareness and help gain traction within the target media. The brand has also roped in Indian actress and model Lisa Haydon to be the face of the brand for its launch in the country.   Bioré is a skincare brand that focuses on making high quality, affordable skincare products that provide a variety of skincare benefits. The brand follows a Japanese beauty philosophy by leveraging amazing Japanese Technology and has created a niche for brands by doing so as one of the skincare brands to focus on the root of problem skin.        Speaking on the latest account win, Anuja Deora Sanctis, Founder and CEO, Filter Coffee Co. said “We at Filter Coffee Co. mirror our vision for the brands we work with, helping them dig an impactful presence in the market. We are glad to onboard Bioré on our journey and look forward to working with them. There is a huge potential to unlock in today’s time and we are really excited to cater to the brand with our expertise and strategic skills in helping them make a mark in the evolving Indian skincare segment.”   The account was won by Filter Coffee Co. in a multi- agency pitch.
Wunderman Thompson India bags the integrated creative mandate for Tata Power
Feb 18 2021 By Admin
    Following a multi-agency pitch, Wunderman Thompson India has won the integrated creative mandate comprising ATL, BTL and digital services for India’s largest integrated power utility, Tata Power’s solar rooftop solutions. Leveraging its comprehensive creative, technology and data capabilities, Wunderman Thompson India will partner Tata Power to drive growth across geographies, demographics and mind-sets.   The rise in pollution levels and the rapid depletion of non-renewable fuel resources requires urgent attention to fulfill increasing energy demands. And that’s what is paving the way for Solar Revolution in India. Investing in solar rooftop solutions leads to great savings, while protecting the environment. And Tata Power with their state of art solutions is trying to bridge that need gap for both residential as well as the commercial segment.   On awarding the business to Wunderman Thompson India, Dr Praveer Sinha, CEO & MD, Tata Power said, “Solar Rooftop is one of the primary and the quickest enablers of green energy. Our vision is to stimulate adoption of green energy in the daily life of every individual in the country. As India’s leading solar rooftop player, our endeavour is to collaborate with our responsible consumers and empower them to conserve energy, save power costs and help protect the environment. Our products are absolutely top class and can be customised to suit varied individual needs. With our upcoming campaigns, we aim to create awareness about the environmental and commercial benefits of solar rooftop installation to all. We are delighted to have a strong communications partner like Wunderman Thompson on board as we build our customer-facing business.”   Commenting on the win, Tarun Rai, Chairman and Group CEO, Wunderman Thompson South Asia, said, “Renewable energy is the future. We are extremely happy and proud that we will be partnering Tata Power in their endeavour to build a sustainable future for the country. We will help achieve the strategic business objectives of Tata Power, rearticulate the brand and create relevance for consumers. The opportunity is huge and we look forward to an exciting journey ahead as we take our first step with an integrated campaign across mainline and digital platforms.”