Profit before tax surged to Rs 110.16 crore from Rs 24.27 crore recorded in corresponding quarter last year.

EBITDA stood at Rs 127.8 crore in Q4 FY23, registering the growth of 224.8% as compared with Rs 39.3 crore recorded in same quarter last year. EBITDA margin stood at 30.8% in Q4 FY23 as against 15.3% in Q4 FY22.

On full year basis, the company's consolidated net profit soared 156.2% to Rs 163.51 crore on 25.25% jump in Revenue from operations to Rs 1,191.19 crore in FY23 over FY22.

Sucheth Davuluri, vice-chairman and chief executive officer of the company said, “We crossed several significant milestones in FY23 with business driven by ongoing growth in the high margin Specialty and CMS business. The performance of this fiscal reflects the various initiatives we have taken in line with our strategy over the last few years, playing out now. We believe that this puts us in a strong position as we look to consolidate the healthy momentum going forward.”

Saharsh Davuluri, vice chairman and managing director, Neuland Labs, “We are happy to state that our focus on R&D and project management saw us achieve our highest ever profitability margins in FY23. We executed a number of CMS projects during the year resulting in the business recording significant growth and contributing close to half the Q4 revenues. We expect this momentum to continue in future as well on account of new customers increasingly accepting Neuland as an established CDMO.”

The board has recommended final dividend of Rs 10 per equity share for FY23.

Neuland Laboratories is a leading manufacturer of active pharmaceutical ingredients (APIs) and an end-to-end solution provider for the pharmaceutical industry's chemistry needs. It provides solutions across the full range of the pharmaceutical industry's chemistry requirements, from the synthesis of library compounds to supplying NCEs and advanced intermediates at various stages in the clinical life-cycle, as well as commercial launch.

The scrip hit 52 week high at Rs 2,540.15 in intraday today