Concord Biotech (CONCORDBIO) Q3 24/25 earnings summary

Executive summary

• Q3 FY25 revenue from operations was ₹244.2 crores, up 1% year-over-year, with EBITDA at ₹98 crores and PAT at ₹75.9 crores, reflecting stable performance despite muted quarterly growth due to customer procurement patterns and timing of tenders.

• Nine-month FY25 revenue grew 10% year-over-year to ₹770.2 crores, driven by 3% API and 42% formulation segment growth.

• Management maintains a positive outlook, targeting a 25% CAGR over the next five years, supported by a strong order book, ongoing customer additions, and expansion into CDMO/CMO opportunities.

• API segment revenue grew 3% in Q3 FY25; formulation revenue declined 1% in Q3 FY25 but surged 42% in nine months.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024, were approved and reviewed by the Board and Audit Committee on February 13, 2025.

Financial highlights

• Q3 FY25 EBITDA margin was 40.1%; nine-month EBITDA margin stood at 41%.

• PAT for Q3 FY25 was ₹75.9 crores (31.1% margin); nine-month PAT was ₹231.3 crores, up 9% year-over-year.

• Gross profit margin for Q3 FY25 was 78.5%, with 9MFY25 at 77.0%.

• The company remains zero-debt with cash and equivalents of ₹250 crores as of December 31, 2025.

• Standalone and consolidated EPS for Q3 FY25 was ₹7.26; for nine months, ₹22.11.

Outlook and guidance

• Long-term guidance of 25% CAGR growth over five years is reiterated.

• Management expects Q4 FY25 to be stronger due to order phasing and strong January and February numbers.

• Margin guidance remains at 40%-43% EBITDA, with potential for higher margins as new facilities ramp up.

• Focus remains on innovation, reliable supply, and customer satisfaction to drive future performance.

• Exploring CDMO/CMO opportunities globally to accelerate growth.