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Contract research and manufacturing services firm Syngene International Ltd on Thursday (January 22) reported a net profit of ₹15 crore for Q3 FY26, down 88.5% year-on-year from ₹131 crore in the same period last year.
Revenue for the quarter declined 2.8% YoY to ₹917 crore from ₹943 crore in Q3 FY25. EBITDA for the quarter fell 25.9% to ₹209.2 crore compared with ₹282.5 crore in the year-ago period, resulting in a contraction of margins to 22.8% from 30% YoY.
Syngene commissioned a new commercial-scale facility for liquid-filled hard gelatin capsules. This expansion strengthens the company’s oral solid dosage (OSD) platform and enables the development and manufacture of complex, hard-to-dissolve medicines with greater precision and reliability.
Also Read: Syngene extends Bristol Myers Squibb research partnership till 2035
The company also enhanced its advanced chemistry capabilities at its Hyderabad site by setting up new catalytic screening and flow chemistry laboratories. These facilities allow parallel testing of multiple reaction conditions and faster synthesis turnaround times. The upgraded capabilities improve efficiency, safety, and scalability, supporting the quicker delivery of high-quality drug substances for clients.
Peter Bains, Managing Director and CEO, Syngene International Ltd, said, “Our Q3 performance reflects the ongoing impact related to a single product from one of our large-molecule biologics clients. Outside of this factor, the underlying business has shown steady progress, with Research Services securing new programs and delivering continued growth.
The highlight of the quarter was the extension of our collaboration with Bristol Myers Squibb through to 2035. This extension provides both partners with a strategic ten-year horizon to further develop and expand this unique, long-standing collaboration."
Also Read: 'Attractive risk-reward' — Syngene International shares gain as Macquarie sees 27% upside
Deepak Jain, Chief Financial Officer, Syngene International, said, “Despite the ongoing impact of a single customer, revenue has been flat QoQ, reflecting the underlying positive trend of the business. Our strong balance sheet provides financial flexibility for continued investments in enhancing our capabilities and capacities to better serve our clients."
Shares of Syngene International Ltd ended at ₹588.10, down by ₹12.75, or 2.12%, on the BSE.
Revenue for the quarter declined 2.8% YoY to ₹917 crore from ₹943 crore in Q3 FY25. EBITDA for the quarter fell 25.9% to ₹209.2 crore compared with ₹282.5 crore in the year-ago period, resulting in a contraction of margins to 22.8% from 30% YoY.
Syngene commissioned a new commercial-scale facility for liquid-filled hard gelatin capsules. This expansion strengthens the company’s oral solid dosage (OSD) platform and enables the development and manufacture of complex, hard-to-dissolve medicines with greater precision and reliability.
Also Read: Syngene extends Bristol Myers Squibb research partnership till 2035
The company also enhanced its advanced chemistry capabilities at its Hyderabad site by setting up new catalytic screening and flow chemistry laboratories. These facilities allow parallel testing of multiple reaction conditions and faster synthesis turnaround times. The upgraded capabilities improve efficiency, safety, and scalability, supporting the quicker delivery of high-quality drug substances for clients.
Peter Bains, Managing Director and CEO, Syngene International Ltd, said, “Our Q3 performance reflects the ongoing impact related to a single product from one of our large-molecule biologics clients. Outside of this factor, the underlying business has shown steady progress, with Research Services securing new programs and delivering continued growth.
The highlight of the quarter was the extension of our collaboration with Bristol Myers Squibb through to 2035. This extension provides both partners with a strategic ten-year horizon to further develop and expand this unique, long-standing collaboration."
Also Read: 'Attractive risk-reward' — Syngene International shares gain as Macquarie sees 27% upside
Deepak Jain, Chief Financial Officer, Syngene International, said, “Despite the ongoing impact of a single customer, revenue has been flat QoQ, reflecting the underlying positive trend of the business. Our strong balance sheet provides financial flexibility for continued investments in enhancing our capabilities and capacities to better serve our clients."
Shares of Syngene International Ltd ended at ₹588.10, down by ₹12.75, or 2.12%, on the BSE.
