Eris Lifesciences reports 54% revenue growth in Q1 FY25

New Delhi: Eris Lifesciences Limited reported a substantial revenue increase of 54% year-on-year, reaching INR 720 crore in the first quarter of FY25, attributed to the successful integration of Biocon acquisitions and strong performance in its domestic branded formulations segment.

Eris Lifesciences achieved a gross profit of INR 539 crore, marking a 38.9% increase from the same period last year. The company’s EBITDA rose by 47.3% to INR 250 crore, resulting in an EBITDA margin of 34.7%. However, the profit after tax (PAT) declined slightly to INR 89 crore, representing a 4.5% decrease year-on-year, with a PAT margin of 12.4%.

Eris Lifesciences has strategically expanded its business model from a focus on specialty formulations to include super-specialty segments such as insulins, oncology, critical care, and nephrology. This shift has been facilitated by the integration of Biocon’s assets, which has enhanced the company’s capabilities and market presence.

Amit Bakshi, Chairman and Managing Director of Eris Lifesciences Ltd., commented on the company’s performance, stating, “We have integrated the Biocon acquisitions well ahead of schedule and started realizing significant synergies in our flagship Domestic Branded Formulations business, which accounts for 90% of our revenue. We expect to clock a growth of 25% plus in the Biocon business in FY25 with significant margin expansion. As a Top-20 company in the IPM, we are taking tangible initiatives to step up our game in the biotechnology space as well.”

In the domestic branded formulations segment, Eris Lifesciences reported a revenue growth of 39% year-on-year, with a corresponding EBITDA increase of 34%. The company has now secured a position among the top 20 companies in the Indian Pharmaceutical Market (IPM), as per AWACS. Eris has demonstrated market-beating growth in four out of its top six therapeutic areas, with a 12.7% growth compared to the chronic vascular market (CVM) growth of 8.1%, outpacing the market by 460 basis points.

Additionally, Eris ranks third in the IPM in terms of new product count and value, further cementing its position as a key player in the pharmaceutical industry. The company’s net debt as of June 30, 2024, stands at INR 2,737 crore, reflecting its strategic investments and growth initiatives.