Lincoln Pharmaceuticals Ltd reports 23% rise in the Standalone Net Profit at Rs.14.99 crore in Q1FY21
- Post By : Kumar Jeetendra
- Source: Microbioz India
- Date: 20 Aug,2020
August 20, 2020: Lincoln Pharmaceuticals Limited, one of India’s leading healthcare companies has reported net profit of Rs. 14.99 crore for the Q1FY21 Ended June 2020 as against net profit of Rs. 12.16 crore in the corresponding period last year, growth of 23.2%. Net revenue for the quarter ended June 2020 reported at Rs. 103.01 crore, higher by 7.11% over previous fiscal’s same period net revenue of Rs. 96.17 crore. EBITDA for the quarter ended June 2020 was reported at Rs.22.42crores as compared to Rs.19.04 crores in the corresponding period last year. EPS was at Rs.7.50 per share for Q1FY21 as compared to Rs.6.08 in the corresponding period last year.
Company has received European Union (EU) GMP certification from Germany FDA for its manufacturing facility located at Khatraj in Gujarat. The certification will allow the company to market its products in all the 27 member countries of EU and also give access to European Economic Area (EEA) countries. Company looks to enter the EU markets during the current financial year with its dermatology, gastro and pain management products and gradually expand product portfolio.
Commenting on the results and performance, Mr. Mahendra Patel, Managing Director, Lincoln Pharmaceuticals Limited, said, “We are pleased to announce that Lincoln Pharma has become a zero net-debt company by paying all its outstanding debt. Despite a challenging economic and business environment due to COVID 19, company has delivered a robust financial performance quarter over quarter maintaining healthy growth in revenue, profitability and expects to continue the growth momentum in the coming years.
Exports sales (FOB) for the Q1 increased 40% to Rs. 82.08 crore and expected to get further boost post-EU approval. Strategic growth initiatives, strong performance in the domestic and international markets, EU approval, new product approvals, better margin products along with operational efficiency are likely to contribute healthy growth and maximise value for all stakeholders in the near to medium term. ”
Export the business of the company has shown remarkable growth in the last few years. Exports have increased to 56% of total sales in FY20 from 11% of total sales in FY13. Company currently exports to 60 plus countries including East & West Africa, Central & Latin America and Southeast Asia and has got many product registrations in these countries and is also awarded with number of global tenders. With the EU certification, company will expand its business network to 90 plus countries.
Company has recently launched Chewable Vitamin C + Zinc Tablet for Indian market. The tablet is an evidence-based bio-active for natural immunity in a combination of zinc that boosts antiviral activity and protection against COVID 19. Market size for Vitamin C and Zinc tablets is estimated at around Rs. 150 crore in India and growing at 15% per annum.
Lincoln Pharma has a state-of-the-art manufacturing facility unit at Khatraj in Ahmedabad, Gujarat, complying with stringent international quality and compliance norms and certified by EUGMP, WHO-GMP and ISO-9001: 2015. Company has developed 600 plus formulations in 15 therapeutic areas and has a strong product/brand portfolio in anti-infective, respiratory system, gynaecology, cardio & CNS, anti-bacterial, anti-diabetic, anti-malaria among others. Company has filled 25 plus patent applications and is awarded with seven patents. Company has a strong presence in domestic market with good strength of own field force and also exports to more than 60 countries.