Corporate Feature     

Published: September 15, 2023
Updated: September 15, 2023

Lincoln Pharmaceuticals Ltd.

FY23, best-ever year for financials: Enters Rs 1,000-cr mkt. cap league

Business Highlights

• Among only 16 companies out of 4,200-plus listed companies in the Indian stock exchanges to achieve the milestone of profit growth every single year from FY13 to FY23, as per the analysis of Morningstar.
• For FY23, the company reported its best-ever results in a financial year with the highest revenue, EBITDA and PAT. It achieved a milestone of Rs 500 crore-plus revenue and Rs 100 crore-plus profit before tax.
• CRISIL has upgraded its rating on the company’s bank facilities to ‘CRISIL A/Stable and CRISIL A1’.
• The company aims to maintain healthy growth in revenue and margins while maintaining its ‘net debtfree’ status.
• During 10 years from FY13 to FY23, the company has delivered a robust CAGR of over 22% in net profit, 19%-plus in EBITDA and over 10% in revenue.

Lincoln Pharmaceuticals Limited, one of India’s leading healthcare companies, has entered the elite league of Rs 1,000 crore-plus market cap companies for the first time. Its share price hit a 52-week high of Rs 543 on September 11, 2023. The company aims to maintain healthy growth in revenue and margins in the coming years and has set a target of achieving Rs 750 crore in revenue by FY26 while maintaining its ‘net debt- free’ status.

For FY23, Lincoln Pharma has reported its best-ever results in a financial year with the highest revenue, EBITDA and net profit. The company achieved a milestone of Rs 500 crore-plus revenue and Rs 100 crore-plus profit before tax for the first time in a financial year. During Q1FY24 also, the company reported an excellent operational and financial performance with yoy growth of 26.7% in net profit, 21.4% growth in EBITDA and 10.3% growth in total income.

The company has successfully completed expansion of its cephalosporin plant at Mehsana, Gujarat. Commercial production from this plant has started and the company has started selling in the domestic markets, with product registration under process for many countries for exports. The plant is expected to contribute to sales of around Rs 150 crore in the next 3 years.

GROWTH ROCKET

The company is ranked among a very few companies to achieve a profit growth every single year from FY13 to FY23. It is among only 16 companies out of 4,200-plus listed companies in the Indian stock exchanges to do so as per the analysis of Morningstar. “The company has developed 600 plus formulations in 15 therapeutic areas and has a strong product portfolio in anti-infective, respiratory system, gynaecology among others. It has over 1,700 registered products and another 700 in pipeline. Company has a strong presence in the domestic market with a dedicated field force of over 600 people, 21+ Super Stockist in 26 states across India.

Company’s key strength is embedded in its cutting-edge R&D capabilities and a strong team including 30 plus scientists. It has filed 25 plus patent applications and is awarded with seven patents with many more in the pipeline.”

Lincoln Pharma currently exports to 60-plus countries, including East & West Africa, Central, North & Latin America and Southeast Asia. It has recently started exports to Canada. TGA - Australia and EU GMP approvals will further strengthen the company’s presence and expand its network to 90-plus countries.

Lincoln Pharma has a state-of-the-art manufacturing facility unit at Khatraj in Ahmedabad, Gujarat, complying with stringent international quality and compliance norms and certified by EUGMP, TGA, WHO-GMP; ISO9001:2015, ISO-14001:2015 and ISO-45001:2018.