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Pharmaceuticals company Windlas Biotech announced Q1FY25 results:

• Crossed Rs 175 crore. milestone, highest revenue 6 quarters in a row 
• Revenue Q1 FY25 Rs 175 crore - YoY growth 21%
• Highest ever CDMO revenue Rs 136 Cr- YoY growth 23%
• EBITDA and PBT Rs 21 crore and Rs 18 crore - YoY growth 22% and 12%
• EPS stands at Rs 6.47- YoY growth 12% 

Commenting on the results Hitesh Windlass, Managing Director – Windlas Biotech said, “While the Indian Pharmaceutical Market (IPM) registered a Y-o-Y growth of 7% in Q1FY25, with marginal volume growth of 0.4%, our company outpaced these figures, achieving a revenue growth rate of 21% in the same period. This growth is driven by strong performance in CDMO vertical. The EPS improved to Rs 6.47 in Q1 FY25, as compared to EPS of Rs 5.79 in Q1 FY24, experiencing a growth of 12% YoY.

Expansion of business development team, broadening of customer base and launch of new products are yielding strong outcomes in Generic Formulations CDMO vertical. Trade Generics and Institutional vertical is expected to continue its growth momentum for FY 2025. We have expanded our sales force in core and adjacent territories for Trade generics and have also improved penetration in several new institutional accounts. Government policies continue to accelerate medical coverage to vast number of economically backward Indians through schemes like Ayushman Bharat and Jan Aushadhi and we are well positioned to serve these opportunities.

We are very excited about being a partner of choice for our clients during the implementation of new quality guideline (Schedule-M) by the regulator. Our own Trade Generics brands leverage this manufacturing excellence and bring us the ability to address the under-served large population of India. The same manufacturing excellence is our gateway to build a strong export business in emerging markets.

We are on track with respect to building additional capacities through several brown-field initiatives that shall enable us to deliver aggressively towards our growth plans”.

Adding further, Komal Gupta, CEO & CFO - Windlas Biotech said, “We are pleased to deliver six times in a row the highest ever quarter revenue, showcasing YoY growth across all business verticals. The Company's revenue grew by 21% YoY to Rs 175 crores in Q1FY25. The EBITDA recorded an increase of 22% at Rs 21 crores compared to the previous year. PAT came in at Rs 13 crores, registering a 12% YoY uptick.

Q1 FY25 is also the largest ever revenue quarter for Generic Formulation CDMO vertical. This vertical generated revenue of Rs 135.9 crores, with a YoY growth rate of 23% in this quarter. Improving engagement momentum with customers through operational excellence and enhanced service levels has been a sustained effort in Generic Formulations CDMO vertical. This combined with launch of new products and wallet share expansion continues to be the focus here.

Our Trade Generics and Institutional vertical generated revenue of 35.1 crores, with a YoY growth rate of 14%. We have expanded our distribution network and added new members to the sales team to cover additional territories within our core geographies. We have also added more institutions as well as more products to expand the outreach of this vertical. Our endeavor to provide Accessible, Affordable and Authentic medication to the rural masses is finding strong resonance with the marketplace and we are gearing for a strong FY25 for this vertical.Our exports vertical demonstrated revenue of Rs 4.1 crores in Q1FY25 with YoY growth rate of 10%. We have entered into an agreement to acquire a basket of Market Authorizations in Europe to expand our product portfolio and geographic reach.

This quarter we had the additional operating costs and depreciation associated with our injectable facility as well as a significant increase in minimum wages across all facilities. Despite this the Company has delivered EBITDA of 12% and PBT of 10.5%. We expect revenue from injectable facility to clock in starting mid Q3 FY25 as the current batches being made complete their required stability testing.

We are excited about the vast growth opportunities and our strong momentum. Looking forward to connecting next quarter!

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