Biocon Ltd Share Price – NSE /  BSE

Pharmaceuticals, Small Cap

Biocon Ltd rose for a fifth straight session today. The stock is quoting at Rs 362.35, up 1.03% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is down around 1.01% on the day, quoting at 24030.45. The Sensex is at 79346.41, down 1.11%. Biocon Ltd has added around 10.81% in last one month.

Meanwhile, Nifty Pharma index of which Biocon Ltd is a constituent, has added around 4.01% in last one month and is currently quoting at 21828.6, down 0.62% on the day. The volume in the stock stood at 24.45 lakh shares today, compared to the daily average of 46.32 lakh shares in last one month.

The benchmark November futures contract for the stock is quoting at Rs 363.55, up 1.51% on the day. Biocon Ltd is up 53.05% in last one year as compared to a 19.57% gain in NIFTY and a 35.67% gain in the Nifty Pharma index.

The PE of the stock is 0 based on TTM earnings ending September 24.

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The US drug regulator conducted the combined cGMP inspection and pre-licensing inspection (PLI) from 15 July to 26 July 2024. The inspection is now classified as VAI.

The inspection scope had included 6 separate Biologics manufacturing units comprising of 4 drug substance and 2 drug product manufacturing plants as well as 5 analytical quality control laboratories, 4 microbiology laboratories, and 2 warehouses.

The USFDA's VAI indicates that objectionable conditions or practices were found, but the agency is not prepared to take or recommend any administrative or regulatory action.

Biocon is an innovation led global biopharmaceuticals company, engaged in the production of therapies for chronic conditions like diabetes, cancer and autoimmune. It has developed and commercialized novel biologics, biosimilars, and complex small molecule APIs in India and several key global markets as well as Generic Formulations in the US, Europe & key emerging markets. It also has a pipeline of promising novel assets in immunotherapy under development.

The company reported a consolidated net loss of Rs 16 crore in Q2 FY25 as against a net profit of Rs 126 crore in Q2 FY24. Revenue from operations rose by 4% YoY to Rs 3,590 crore during the quarter.

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Biocon Ltd is up for a third straight session today. The stock is quoting at Rs 327, up 1.29% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 1.04% on the day, quoting at 24230.1. The Sensex is at 79668.59, down 0.88%. Biocon Ltd has slipped around 4.58% in last one month.

Meanwhile, Nifty Pharma index of which Biocon Ltd is a constituent, has slipped around 3.18% in last one month and is currently quoting at 22920.35, down 1.54% on the day. The volume in the stock stood at 15.6 lakh shares today, compared to the daily average of 28.76 lakh shares in last one month.

The benchmark November futures contract for the stock is quoting at Rs 328.35, up 1.19% on the day. Biocon Ltd is up 44.15% in last one year as compared to a 24.62% jump in NIFTY and a 45.62% jump in the Nifty Pharma index.

The PE of the stock is 0 based on TTM earnings ending September 24.

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Revenue from operations rose by 4% year-over-year (YoY) to Rs 3,590 crore during the quarter.

On the segmental front, Generics business revenue was Rs 624 crore (down 8% YoY), Biosimilars revenue was Rs 2,182 crore (up 11% YoY) and Research Services revenue was Rs 891 crore (down 2% YoY).

Net R&D expenses aggregated to Rs 200 crore, down 24% YoY.

EBITDA declined by 20% to Rs 718 crore in Q2 FY25 from Rs 900 crore in Q2 FY24. EBITDA margin was 20% in Q2 FY25 as against 25% in Q2 FY24.

Profit before tax in Q2 FY25 stood at Rs 98 crore, down by 54% from Rs 214 crore in Q2 FY24.

Kiran Mazumdar-Shaw, chairperson, Biocon Group, said: “Biocon Group’s overall Q2FY25 financial and operational performance provides a foundation for improved performance as we move into the second half of the fiscal.

Reported Operating Revenues of Rs 3,590 Cr reflect YoY growth of 8% on a like for like basis and core EBITDA and EBITDA margins of 28% and 20% respectively remain healthy.

We had a robust performance in the Biosimilars business, up 19% on a like for like revenue basis, driven by strong market share gains in our US Oncology and Insulins franchises.

Syngene has returned to sequential growth and has good visibility of a pickup in momentum in the coming quarters led by its Discovery Services and Biomanufacturing CMO business. Generics has continued to face price and demand pressures that have supressed performance, but key new formulation launches in Q3 and Q4 provide the basis of a turnaround before the year end.

All three businesses are tracking towards a better performance in the second half of the year, on the back of product approvals and unfolding market opportunities.

Biocon Biologics’ successful refinancing of its long-term debt of US$ 1.1 billion through a combination an $800 million USD bond listed on the Singapore Stock Exchange and a new $300 million syndicated loan facility was a credible success. This was Biocon Group’s debut bond issue and to be 3x oversubscribed speaks to strong investor confidence in our Biosimilars growth potential.”

Biocon is an innovation led global biopharmaceuticals company, engaged in the production of therapies for chronic conditions like diabetes, cancer and autoimmune. It has developed and commercialized novel biologics, biosimilars, and complex small molecule APIs in India and several key global markets as well as Generic Formulations in the US, Europe & key emerging markets. It also has a pipeline of promising novel assets in immunotherapy under development.

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