Syngene continues to guide for a mid-teen revenue growth in FY22. This appears possible, given the improved demand scenario and the strong traction in H1 FY22
Shilpa Medicare | The company raised Rs 297.51 crore from marquee investors including Malabar India Fund, Malabar Select Fund, Malabar Midcap Fund, Think India Opportunities Master Fund LP, Blue Daimond Properties, Ohm Core Investment Corp, Hypnos Fund and Madhusudan
PRO Only Highlights
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
Syngene International Ltd (CMP: Rs 596, Market Cap: Rs 23,873 crore), a leading contract research organisation (CRO), has reported a mixed set of results. While the growth in the top line was decent, commodity inflation impacted margins. Q2 impacted by margin compression Syngene posted a 17 per cent YoY (year-on-year) growth in the top line with strong contributions from all the segments — dedicated R&D centres, drug discovery services and development & manufacturing services. Discovery services saw a positive demand for newer…
