BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
FDC Ltd. ’s Q4 FY21 numbers were below our estimates. Revenues declined by 6% YoY/ 8% QoQ to Rs 3.1 billion, largely driven by slower than estimated export sales growth and gradual recovery in the domestic acute segment.
Export formulation grew by 7.5% YoY to Rs 572 million (18%of sales).
The quarter margins were impacted due to lower profit share from the U.S. business.
Domestic on ground activities improving led to higher staff costs and other expenses sequentially.
Impacting the Ebitda margins to the lowest in FY21 to 16.5%, we expect this to normalize as the domestic growth returns in coming quarters given the recovery in acute segment and key brands.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.