Q1 2025 Syngene International Ltd Earnings Call Transcript
Key Points
- Positive quarter of new capital flowing into the US biotech sector, indicating an improving demand environment.
- Increased client visits and audits from large biopharma clients seeking alternatives to China.
- Requests for proposals (RFPs) were up almost 50% year over year in terms of value.
- Multiple pilot projects in discovery services with potential to scale to larger contracts.
- Strong balance sheet with net cash of $108 million as of June 2024.
- Revenue from operations was down 2% over the corresponding quarter last year.
- Operating EBITDA was down 20% to INR170 crores.
- Reported profit after tax was down 19% to INR76 crores.
- Employee expenses increased by 10% year on year.
- Operating EBITDA margins decreased to 22% in the first quarter versus 26% in the same period last year.
Ladies and gentlemen, good day, and welcome to Q1 FY25 earnings conference call of Syngene International Limited. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Ms. Nandini Agarwal from Syngene International. Thank you, and over to you.
Thank you, and good afternoon to everyone. Thank you for joining us on this call to discuss Syngene's first-quarter FY 2025 performance. To discuss the financial and business performance for the period, we have on the call today Mr. Jonathan Hunt, Syngene's Managing Director and Chief Executive Officer; and Mr. Sibaji Biswas, Executive Director and Chief Financial Officer. After the opening remarks, Jonathan and Sibaji will be happy to answer any questions you might have.
Before we begin, I would like to caution that comments made during this conference call today will contain certain forward-looking statements and must be viewed in relation to the risks pertaining to the business. The
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