In today’s briefing:
- Kolte Patil: On Track for a Strong FY24
- Weekly Wrap – 01 Dec 2023
- Concord Biotech Ltd (658823Z IN): Q2 EBITDA and PAT Triples on Operational Efficiencies
Kolte Patil: On Track for a Strong FY24
- Kolte Patil reported a steady Q2FY24 led by continued momentum across sales, business development and deliveries.
- Sales volume grew by 5%+ QoQ to 0.98mm sq ft in Q2FY24, led by strong sales in the Life Republic projects. This brings the H1FY24 total sales volume to 1.91mm.
- With 4.94mm sq ft slated to be launched in H2FY24 vs 2.73mm launched in H1FY24, Kolte Patil is on track to achieve its FY24 sales guidance of 3.9mm+ sq ft.
Weekly Wrap – 01 Dec 2023
Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.
In this Insight:
and more…
Concord Biotech Ltd (658823Z IN): Q2 EBITDA and PAT Triples on Operational Efficiencies
- Concord Biotech Ltd (658823Z IN) reported robust performance in Q2FY24. Revenue grew 65% YoY to INR2.6 billion, while EBITDA and PAT jumped more than 3x compared to year-ago quarter.
- The company has increased capacity utilization at all the three manufacturing facilities. Operational efficiencies have helped the bottom line to achieve faster growth than the top line.
- With a high runway for growth and improving market scenario, especially for Indian pharma companies, the company remains highly optimistic to surpass its historical 18% revenue CAGR this year.
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