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Akums Drugs and Pharmaceuticals Ltd, one of the largest contract development and manufacturing organisation (CDMO) in India, reported an adjusted PAT of ₹67 crore, up 9 per cent y-o-y for quarter ending September 30, 2024. Adjusted PAT in the year ago period was ₹61 crore.
The company reported a consolidated total income of ₹1,047 crore, down 12 per cent y-o-y in Q2FY24. Consolidated total income in the year ago period was ₹1,188 crore.
The company’s adjusted EBITDA margin for the period under review was 12.9 per cent and PAT margin was at 6.4 per cent, “reflect(ing) operational efficiency and a focus on profitable growth”, it said in a statement.
“However, the y-o-y comparison reflects the impact of lower API prices and fluctuating demand, which Akums remains optimistic will stabilise as it expands its footprint,” the company’s statement further added.
Akums had a cash surplus of ₹341 crore; and it would be “instrumental” in supporting further investment in R&D; and expanding production and business capabilities.
According to Sanjeev Jain, Managing Director, Akums, the short-term volatility apart there is “secular demand for outsourced drug development and manufacturing”.
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