Syngene International announced that the 30th Annual General Meeting (AGM) of the company will be held on 26 July 2023.

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Revenue from operations rose by 31% YoY to Rs 994.4 crore during the quarter.

EBITDA improved by 27% to Rs 336.9 crore in Q4 FY23 from Rs 265 crore in Q4 FY22. EBITDA in Q4 FY23 was at 33.1% as against 34.3% in Q4 FY22.

Profit before tax in the fourth quarter stood at Rs 230.9 crore, up 29% from Rs 179.1 crore in the same period last year.

For the full year ending 31 March 2023, revenue from operations rose by 23% YoY to Rs. 3,192.9 crore resulting in profit after tax of Rs. 464.4 crore (up 17% YoY).

Jonathan Hunt, managing director and chief executive officer, Syngene International, said, “All business divisions delivered growth through the year triggering investment in additional laboratory capacity and new facilities at our campuses in Bangalore and Hyderabad.

Manufacturing Services had a particularly strong year, led by our commercial-scale biologics manufacturing business which had a busy fourth quarter supporting our partnership with Zoetis, following successful regulatory inspections by the US, European and UK regulatory authorities.”

Sibaji Biswas, chief financial officer, Syngene International, said: I am pleased to report a strong performance throughout the year, including our biggest ever quarter to finish this fiscal year. Our robust business model, broad customer base and strong balance sheet, combined with a tight focus on execution, enabled us to deliver revenue growth of 23% year-on-year, margins at around 30% and increased net cash of Rs 224 crore.

As a result, in this fiscal year, the Company delivered the highest absolute year-on-year increase in revenue and EBITDA that we have seen in the last 5 years, providing a strong foundation for our future plans.”

Syngene International is an integrated research, development, and manufacturing services company serving the global pharmaceutical, biotechnology, nutrition, animal health, consumer goods, and specialty chemical sectors.

The scrip had surged 5.83% in early trade to hit the day's high at Rs 659.80, which is also a 52-week high for the counter.

On the BSE, over 0.86 lakh shares of the company had changed hands as compared with an average trading volume of 0.14 lakh shares in the past two weeks.

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Syngene International announced that the Board of Directors of the Company at its meeting held on 26 April 2023, has recommended a Special dividend of Rs.0.75 per share (i.e.7.5%), subject to the approval of the shareholders.

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Syngene International announced that the Board of Directors of the Company at its meeting held on 26 April 2023, has recommended a Final dividend of Rs.0.50 per share (i.e.5%), subject to the approval of the shareholders.

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