Divi's Laboratories Q1FY24 revenues :-
Divi's Laboratories Q1FY24 revenues fell short
of expectations, with a 21% Yo Y decrease to
F1,778 crore, due to a decline in sales of its
covid antiviral drug molnupiravir. EBITDA
margin fell by 926 bps YoY but increased
by 340 bps sequentially. The company's
management has guided for double-digit
revenue growth for FY24, excluding
molnupiravir. Divi's is focusing on new growth
drivers such as contrast media products and
expanded capacity in its custom synthesis
manufacturing segiment. The recovery in
revenue is expected to be gradual, and analysts
remain sceptical of meaningful improvement in
revenues.
of expectations, with a 21% Yo Y decrease to
F1,778 crore, due to a decline in sales of its
covid antiviral drug molnupiravir. EBITDA
margin fell by 926 bps YoY but increased
by 340 bps sequentially. The company's
management has guided for double-digit
revenue growth for FY24, excluding
molnupiravir. Divi's is focusing on new growth
drivers such as contrast media products and
expanded capacity in its custom synthesis
manufacturing segiment. The recovery in
revenue is expected to be gradual, and analysts
remain sceptical of meaningful improvement in
revenues.
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