Q2 2025 Torrent Pharmaceuticals Ltd Earnings Call Transcript
Key Points
- Torrent Pharmaceuticals Ltd (BOM:500420) reported a strong performance in its branded businesses, which accounted for 74% of the overall revenue this quarter.
- The India business grew by 13% this quarter, outperforming the Indian Pharmaceutical Market (IPM) growth of 8%.
- The company's operating EBITDA increased by 14% to INR939 crores, with an operating EBITDA margin of 32.5%.
- The Brazil business showed a robust 17% growth in constant currency terms, driven by new product launches.
- The company has expanded its consumer health business coverage to 72,000 outlets, up from 68,000 in the previous quarter, indicating a strategic focus on market penetration.
- Insulin revenues were impacted due to a facility shutdown for maintenance, leading to a shortfall of INR40 crores this quarter.
- The US business remains stable but is not expected to ramp up significantly in the short term due to older product filings.
- The company faced a Forex loss included in other income, impacting overall financial performance.
- The US FDA issued a Form 483 with one observation at the Pithampur manufacturing facility, indicating regulatory challenges.
- The volume growth in the India market remains muted, with low single-digit contributions, raising concerns about future growth sustainability.
Ladies and gentlemen, good day. And welcome to the Q2 FY25, Earnings conference call of Torrent Pharma.
(Operator Instructions)
I now hand the conference over to Mr. Sudhir Menon, Chief Financial Officer, and Executive Director Finance. Thank you and over to you, sir.
Yeah, thank you good evening and welcome to the second quarter earnings call for FY25.
We continue to see strong performance in our branded businesses which accounted for 74% of the overall revenue this quarter.
India business grew by 13% this quarter, Brazil grew by 17% in constant currency terms and in terms of INR it was 4% due to the currency depreciation. Germany grew at 8% in the quarter, and we continue to win additional tenders' quarter on quarter. Us grew by 8% and was flat on rolling quarter basis.
This quarter, insulin revenues were impacted due to the shutdown taken in the month of August for maintenance activities. The facility will be
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