Sales growth was strong at 19% this quarter, margins have started reviving but pricing pressure is still high in US. Concall notes below.
FY23Q3 concall
- US quarterly revenues was $52mn, benefitted from the strong flu season
- Aleor R&D amortization was 13 cr. this quarter, amount left is 11 cr.
- All facilities put together will have annual depreciation charges of 200 cr. (gross block is ~1200 cr. and remainder is pre operating expense)
- API growth was due to jump in CMO order from an MNC customer. Normalized growth should be around 10%
- There will be 15-20% reduction in R&D expenses in FY24, especially towards US market
Disclosure: Invested (position size here, bought shares in last-30 days)