Bangalore, India | January 30, 2025 – Biocon Limited (BSE: 532523, NSE: BIOCON) announced its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024. The company reported 7% revenue growth on a like-for-like basis, with strong performance in Biosimilars (up 14%) and Research Services (up 11%).
Financial Performance Highlights (₹ in Crores)
Consolidated Results
Particulars
Q3 FY25
Q3 FY24
YoY Growth (%)
Revenue from Operations
3,821
3,954
-3%
Total Revenue
3,856
4,519
-15%
EBITDA
787
1,492
-47%
EBITDA Margin
20%
33%
-
Net Profit
25
660
-96%
EPS (₹)
0.2
5.5
-
Adjusted for exceptional items, net profit stood at ₹13 crore, compared to ₹644 crore in the previous year.
Segment-Wise Revenue Breakdown (Q3 FY25)
Segment
Revenue (₹ Cr)
YoY Growth (%)
Biosimilars
2,289
14%
Research Services (Syngene)
944
11%
Generics
686
-2%
EBITDA for Biosimilars grew 44% YoY on a like-for-like basis.
Strategic Developments
Key Business Updates
Regulatory Approvals:
Liraglutide (GLP-1 generic) approved in the EU.
Tacrolimus capsules approved in China.
U.S. FDA granted approval for Ustekinumab biosimilar (YESINTEK™).
Denosumab biosimilar (Prolia®/XGEVA®) filing accepted by U.S. FDA.
Product Launches:
Daptomycin (500mg injection) & Nitrofurantoin (oral suspension) launched in the U.S.
14 biosimilar product launches across Emerging Markets.
Manufacturing & Infrastructure:
Cranbury, New Jersey facility qualified by U.S. FDA for three statin products.
Five-year national contract secured for one of these products.
Capital & Financial Updates
Completed all payments related to the Viatris biosimilar acquisition.
Balance sheet optimized following strategic refinancing.
Raised ₹67,056 Cr via senior secured bonds on the Singapore Stock Exchange.
New syndicated debt facility of ₹26,705 Cr to refinance $1.1 billion in existing debt.
Leadership Commentary
Kiran Mazumdar-Shaw, Chairperson, Biocon Group:
"With a 10% like-for-like growth in operating revenue and a return to growth in Syngene, we are on track for stronger financial performance. Global approvals for our biosimilar pipeline will drive growth in the upcoming quarters."
"The strengthening of operational building blocks has improved growth visibility. Biosimilars have multiple new product launches planned in Q4 FY25. Recovery in the Generics business is expected from our upcoming GLP-1 product launch in the UK & EU."
Adjusted for exceptional items, net profit stood at ₹13 crore, compared to ₹644 crore in the previous year.
EBITDA for Biosimilars grew 44% YoY on a like-for-like basis.
With multiple regulatory approvals, upcoming launches, and a strengthened balance sheet, Biocon is positioned for growth in the coming quarters.