Bengaluru, January 25, 2025 – OneSource Specialty Pharma Limited (formerly Stelis Biopharma Limited) has reported its unaudited financial results for Q2 FY25, showing continued losses despite a sharp rise in revenue. The company operates in the Contract Development and Manufacturing Organization (CDMO) space. It remains focused on restructuring efforts and financial stabilization.
Key Financial Highlights (Standalone) – Q2 FY25
- Revenue from Operations: ₹679.8 million, up 101.7% YoY from ₹337.1 million in Q2 FY24.
- Total Income: ₹685.6 million, compared to ₹338 million in Q2 FY24.
- Net Loss: ₹400.2 million, improving from ₹866.6 million Loss in Q2 FY24 but widening from ₹320.9 million in Q1 FY25.
- EBITDA Margin: Negative due to high operating expenses and finance costs.
- Total Expenses: ₹1,076.3 million, with significant costs in employee benefits (₹227.7 million), finance (₹207.1 million), and depreciation (₹190.6 million).
- Loss Per Share (Basic & Diluted): ₹9.63, compared to ₹20.86 in Q2 FY24.
Financial Position & Debt Situation
- Total Assets: ₹12,830.5 million as of September 30, 2024, down from ₹13,085.7 million in March 2024.
- Total Liabilities: ₹8,760.6 million, with ₹4,119.9 million in current liabilities, exceeding current assets of ₹1,584 million.
- Debt-to-Equity Ratio: 1.50x, showing high leverage.
- Ongoing Fundraising: The company is in advanced talks to raise ₹8,010 million from investors to stabilize its financial position.
Key Developments & Future Outlook
- Business Restructuring: The company completed the sale of its Unit-3 Multimodal Facility to Syngene International for ₹6,170 million, helping ease financial strain.
- CDMO Expansion: Focus on contract manufacturing services, with new Manufacturing Services Agreements (MSA) signed.
- Pending Legal Dispute: Biolexis Pte Ltd, a subsidiary, faces a $136.3 million claim from Prestige Biopharma, which the company has legally contested at SIAC (Singapore International Arbitration Centre).