Astec Lifesciences Q4 Review – CRAMS Likely To Witness Strong Growth Ahead: ICICI Direct

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Astec Lifesciences Ltd.’s Q4 FY22 numbers were above our estimates across all parameters.

Revenues were up 58% YoY to Rs 272 crore, led by better realizations across key molecules along with higher volumes in the contract manufacturing company (led by ramp up in the herbicide plant utilization).

Revenue from exports market (~ 71% of overall revenue) was up 127.3% YoY to Rs 192.6 crore while the same from the domestic market was down 9% YoY to Rs 79.4 crore.

Astec Lifesciences’ gross margin improved 81 basis points YoY to 39.6%, largely on the back of better realizations vis-a-vis input price inflation, which lifted overall operational performance for the quarter.

Moreover, better growth in the topline led operating leverage, which also supported operating profit margin improvement (up 190 bps) for the quarter.

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