EBITDA (pre ESOP) fell 22.02% to Rs 38.60 crore during the period under review. EBITDA margin stood at 10.1% in Q4 March 2022 lower than 13.7% in Q4 March 2021.

Total expenses rose 9.99% to Rs 350.36 crore. Cost of material consumed rose 14.72% to Rs 180.76 crore while employee benefits expenses rose 6.07% to Rs 57.18 crore.

Overall business grew by 11.7% in constant currency (cc) during Q4. API segment recovered with strong performance in Q4 at 11% cc growth. However, inflationary cost pressures continued to impact. Formulations segment maintained momentum in Q4 with 12% cc growth. LATAM, emerging markets and India performed exceptionally well.

Turkey business grew 15.3% cc. However it was impacted by currency depreciation. Europe performance was subdued. It is expected to recover going forward.

For the full year, Sequent Scientific's net profit declined 56.78% to Rs 41.25 crore on 3.76% rise in net sales to Rs 1412.82 crore in the year ended March 2022 over the year ended March 2021.

Commenting on the company's performance, Rajaram Narayanan, managing director stated: "Q4 FY22 reflects a strong performance across APIs and formulations. Our API business in this quarter grew by 11% on constant currency basis in a challenging environment. The formulations business grew as per expectations at 12% on constant currency basis, driven by market beating performance in Latam and India. The macro environment continues to be challenging due to volatility in costs and disruptions across supply chains. Our concerted efforts towards building strong partnerships and judicious price increases have started reflecting in our Q4 FY22 financial performance. We remain committed to our strategy to build a unique leader in Animal Health. Towards this goal, we will continue to invest in building capabilities in R&D, manufacturing, and long-term partnerships."

The company's net debt increased to Rs 254.20 crore as on March 2022, higher than Rs 192.90 crore as on December 2021 and Rs 162.80 crore as on March 2021. The net debt rose on account of minority consolidation and Nourrie Acquisition – Rs 60.7 crore.

SeQuent Scientific is India's largest and amongst the ‘Top 20' global animal health companies, backed by global investment firm ‘The Carlyle Group' as promoter. The company has 9 manufacturing facilities across Europe, Turkey, Brazil & India with the Vizag site being India's only USFDA approved dedicated veterinary API facility.