Quote on Syngene international reported a weak set of numbers for Q1FY2022 by Mr. Yash Gupta, Angel Broking Ltd
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Below is quote on Syngene international reported a weak set of numbers for Q1FY2022 by Mr. Yash Gupta, Equity Research Associate, Angel Broking Ltd
Syngene international reported a weak set of numbers for Q1FY2022.
Syngene international limited reported revenue from operation at ₹595.4 crores up by 41% as compared to ₹421.6 crores in Q1FY21. EBITDA was at ₹177.3 crores up by 27% as compared to ₹139.8 crores in Q1FY21 and reported EBITDA margins of 29% a drop of 300 bps from Q1FY21, primarily due to the higher raw material cost. The company reported Profit after tax of ₹77.3 crores in Q1FY2022, up by 33% as compared to ₹58 crores in Q1FY21.
overall company a reported good weak set of numbers, Q1FY21 was a very low base for the company we expect the company to improve its performance in upcoming quarters. We have a Neutral outlook on Syngene international limited.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
