In This Article:
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Q4 Revenue from Operations: INR4,417 crore, 15% year-on-year increase, 16% sequential growth.
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Q4 Core EBITDA: INR1,363 crore, 16% year-on-year increase, with a core operating margin of 31%.
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Q4 Reported EBITDA: INR1,150 crore, 60% year-on-year growth.
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Q4 Profit Before Tax (excluding exceptional items): INR466 crore, 45% year-on-year increase.
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Full Year Revenue from Operations: INR15,262 crore, 10% year-on-year increase.
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Full Year Group Core EBITDA: INR4,264 crore, margin of 28%.
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Full Year Reported Net Profit: INR1,013 crore.
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Generics Q4 Revenue: INR1,048 crore, 46% year-on-year increase, 53% sequential growth.
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Generics Q4 EBITDA: INR243 crore, EBITDA margin of 23%.
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Biosimilars Q4 Revenue: INR2,463 crore, 9% year-on-year increase.
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Biosimilars Q4 EBITDA: INR540 crore, EBITDA margin of 22%.
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Research Services Q4 Revenue: INR1,018 crore, 11% year-on-year increase.
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Research Services Q4 EBITDA: INR363 crore, EBITDA margin of 35%.
Release Date: May 09, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Biocon Ltd (BOM:532523) reported a 15% year-on-year increase in revenue from operations for Q4, driven by strong growth in Generics, Biosimilars, and Research Services.
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Core EBITDA for the quarter increased by 16% year-on-year, with a healthy operating margin of 31%.
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The Generics segment saw a significant 46% year-on-year growth, bolstered by successful product launches such as lenalidomide in the US.
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Biosimilars revenue for Q4 increased by 9% year-on-year, with strong market share gains for products like Fulphila and Ogivri in the US.
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Research Services achieved an 11% year-on-year revenue increase, crossing the INR1,000 crore threshold for the first time in a quarter.
Negative Points
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Pricing pressure and higher operational expenditure impacted the EBITDA margins for the Generics business, which stood at 12% for FY25.
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The company faces challenges in the US market with the timing of product launches and market share acquisition for new biosimilars.
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There is a substantial net debt of about $1.1 billion as of March 31, which the company plans to address through capital raising.
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The Generics business experienced lumpiness in revenue due to settlement agreements, impacting consistent quarterly performance.
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R&D investments, while crucial for future growth, accounted for a significant portion of revenues, impacting short-term profitability.
Q & A Highlights
Q: Can you provide an update on the market share and pricing scenario for your biosimilar Stelara in the US? A: Matthew Erick, Chief Commercial Officer, stated that Biocon has achieved over 70% market access with US payers, covering over 100 million lives. The company is optimistic about increasing market share as they work with physicians. The pricing scenario remains stable, with no significant changes expected in the net selling price.