Revenues & profitability:
- Revenue at Rs 2,347 crores up by 10%.
- Gross margins: 72%; EBITDA margins: 32%.
- EBITDA at Rs. 742 crores was up by 3%.
- Net profit after tax at Rs. 354 crores was up by 7%.
|Results||Q1 FY23||Q1 FY22||YoY%|
|Rs cr||%||Rs cr||%|
- India revenues at Rs 1,245 crores grew by 14%
- As per secondary market data (AIOCD), Torrent’s Q1 FY23 growth was 17% versus IPM growth of 2%
- Strong outperformance of top brands together with new launches continued to drive market share gains across focus therapies.
- During the quarter, Torrent added 300 MRs bringing the total field force strength to 4,200
- Brazil revenue at Rs 184 crores, were up by 20%.
- Constant currency revenue at R$ 117 million was up by 8%. Adjusted for the discontinued tender business in the previous year, the growth is 10%.
- As per secondary market data, Torrent’s Q1 growth of 10% was in line with market growth.
- Growth was aided by strong growth in generic segment, performance of top brands and new launches.
- US revenue at Rs 299 crores, were up by 13%.
- Constant currency revenue at $39 million was up by 7%.
- Revenue was complemented by performance of Dapsone launched in previous quarter.
- As on June 30, 2022, 60 ANDAs were pending approval with USFDA and 3 tentative approvals were received. During the quarter, 1 ANDAs was filed.
- Germany revenue at Rs 214 crores were down by 18%.
- Constant currency revenue were Euro 26 million.
- Growth was adversely impacted due increase in competition and loss of tenders in previous quarters. Torrent has already initiated measures to improve price competitiveness.