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Lincoln Pharma registers revenue of Rs. 533 crore and net profit of Rs. 72.90 crore in FY2022-23

Our Bureau, Bengaluru
Thursday, May 25, 2023, 17:45 Hrs  [IST]

Lincoln Pharmaceuticals registered Rs. 533 crore revenue & Rs. 100 crore profit before tax for the first time in a financial year. The company said that it has reported best-ever results in a financial year with highest revenue, EBITDA and net profit during FY 2023. It has recommended a dividend of 15%, Rs. 1.50 per share on the face value of Rs. 10 per share for the FY 2022-23.
 
The net profit reported was Rs. 72.90 crore for FY23 as against net profit of Rs. 69.36 crore in the corresponding period last year, a growth of 5.11%. Total income for FY23 was reported at Rs. 532.79 crore, higher by 10.52% over previous fiscal’s same period total income of Rs. 482.08 crore.  EBITDA was at Rs. 111.65 crore, rise of 5.86% as compared to Rs. 105.47 crore in FY22. EPS was reported at Rs. 36.40 per share.
 
Mahendra Patel, managing director, Lincoln Pharmaceuticals Limited, said, "Company has achieved the milestone of Rs. 500 crore revenue and Rs. 100 crore in profit in FY23 with a robust a operational and financial performance along with healthy growth in revenue, margins and profitability. We expect the growth momentum to continue and expect to get further boost in coming years. Company has set a target of achieving Rs. 750 crore revenue by FY26 while maintaining or improving its margins. With a robust performance, the company has recommended a dividend of Rs. 1.5 per share.”
 
For Q4 ended FY23, company reported net profit of Rs. 12.56 crore as against net profit of Rs. 11.02 crore in the corresponding period last year with growth of 14.00%. Total income for the Q4FY23 was reported at Rs. 116.41 crore, higher by 11.47% over the previous fiscal’s same period income of Rs. 104.4 crore.  EBITDA was Rs. 20.54 crore in Q4 FY23, with rise of 6.26% as compared to Rs. 19.33 crore in the corresponding period last year. EPS for Q4FY23 was at Rs. 6.27 per share.
 
“Company has reported its highest-ever revenue, EBITDA and Net Profit reported on a yearly basis. It is reporting excellent growth in the domestic and export business and expects to maintain healthy growth in years to come. Strategic growth initiatives, product and geographical expansion, and operational efficiency are likely to contribute to growth going forward, said Patel.
 
In September 2021, the company acquired a plant in Mehsana, Gujarat to launch cephalosporin products. The company has invested Rs. 30 crore in the cephalosporin plant - including acquisition and subsequent capacity expansion using an internal source of funds. The plant is expected to contribute sales of around Rs. 150 crore in the next 3 years. It has received approval from WHO-GMP for tablet capsule, dry-powder Suspension products.

 
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