Suven Pharma gains on healthy Q1 show, strong operational performance

The highlight of Suven Pharma’s Q1 earnings was the company’s sharp margin improvement

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Shares of Suven Pharmaceuticals rose around 2 percent in early trade on August 9 as investors rejoiced at the company’s healthy earnings for the April-June quarter of FY24.

At 09.29 am, shares of Suven Pharma were trading around a percent higher at Rs 493.30 on the National Stock Exchange. The stock also hit a two-week high of Rs 496.85 soon after the market opened.

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The most notable change in the Q1 earnings for Suven Pharma was its sharp margin improvement. EBITDA margin expanded to 48.1 percent, sharply up from 44.5 percent seen in the same period last year.

The  Contract Development and Manufacturing Organisation (CDMO) player also has a strong pipeline of phase 3 and late phase 2 molecules with over 100 active projects.

The pharma company’s net profit for the quarter jumped 12.2 percent on year to Rs 120.6 crore, up from Rs 107.5 crore recorded in the same period of the preceding fiscal. Moreover, the topline also grew by a modest 2.6 percent to Rs 347.6 percent as against Rs 338.80 crore in the year-ago period.

The company’s earnings call is also due on August 10 and investors are awaiting comments from the management on its margin outlook and product pipeline for FY24.

Also Read | Suven Pharma Q1 net profit rises 12.12% to Rs 120.5 crore

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