TORRENT PHARMACEUTICALS Q2FY24 Earnings Call Highlights
Branded business contributed to 73% of the overall revenue base this quarter and have grown by 18%.
Germany with incremental tender wins over the last 3 quarters has helped in registering a constant currency, high single-digit growth.
Continue to take measures to enhance the cost efficiency in the US base business, await new product approvals to start flowing in the future quarters.
Capitalized the oral oncology facility this quarter in July and have commercialized one product in the U.S.
Expect to clock INR 100 crores sales on a MAT basis during the coming quarter for Sitagliptin franchise, which would be co’s fastest INR 100 crore launch, mainly on account of field force expansion undertaken last year.
Curatio portfolio continues to deliver robust performance with 17% growth for the quarter, led by the flagship brand, Tedibar. Tedibar continue its growth trajectory upwards of 25% on account of increased activation at pediatricians and more recently, digital media and e-commerce platforms.
Curatio EBITDA margins are now 14% higher than pre-acquisition levels, which is also 6% higher than the previous quarter due to enhanced focus on cost synergy execution.
Believe there is still significant headroom for margin improvement over the next 6 to 8 quarters, mainly through operating leverage.
Generics stand-alone has grown somewhere between 20% to 25% this quarter for us, consistently been adding new SKUs.
There has been an increase in SG&A and particularly in marketing spend, advertising spend plus field force which is already reflected in this quarter. It was initiated almost 2-3 quarters ago, and now that cost is fully built in. So in this financial year, there is a higher increase in cost base compared to last year, which is more of a onetime exercise.
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