Balaxi Pharmaceuticals Growth Remains Robust on Back of Geographical Expansions

• Revenue growth of 40.3% on YoY basis, with operating EBITDA of Rs. 15.29 crore

• PAT stood at Rs. 8.23 crore

• Revenue from Pharmaceutical business grew by 40.4% Y-o-Y
   

Commenting on the results, Mr. Ashish Maheshwari, Chairman and Managing Director said, “During the quarter, we have strategically focused on our newly launched geographies in the Latin American markets – Guatemala, Honduras and El Salvador. These LATM markets have contributed 40% of our pharmaceuticals revenues and we are confident of increasing this further as we penetrate these markets and increase volumes. Our mature presence in Angola has also contributed with another steady performance contributing 60% of the pharmaceuticals business.

As on 31 December, the number of registered products in our portfolio expanded to 766 across six countries in Africa and Latin America. Apart from this, we have another 650 products under registration or in pipeline for registration. With the increase in the number of product offerings, we expect to further increase our market share in the countries of our focus. We also plan to launch our operations in new countries in these regions.

Furthermore, during the month of December, we conducted Ground Breaking Ceremony for our proposed EU-GMP compliant facility, which will boost our margin profile going ahead. We have appointed a leading design and engineering execution consultant for project management. Going ahead, once the operation at our manufacturing facility commences we look forward to operating a well-integrated and efficient supply chain that will support our growth and value enhancement objectives.”

About Balaxi Pharmaceuticals Limited

Balaxi Pharmaceuticals Ltd is a branded IPR-based pharmaceutical player focusing on frontier markets, with a vast and growing portfolio of prescription and OTC drugs, across multiple therapeutic segments. The Company is engaged in supplying branded and generic medicines through its well-built on ground infrastructure across Angola, Guatemala and Dominican Republic. These products are procured from WHO GMP certified contract manufacturers based in India, China and Portugal.

Forward-Looking Statement

Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Balaxi Pharmaceuticals Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.