Caplin reports in line quarter driven by LatAm marketCAPLIPOINT - 810 Change: 67.25 (9.06 %)
News: Revenues grew 18.9% YoY to Rs.326.2 crore mainly on back of company’s unique end to end business model in Latin America. EBITDA margins was steady YoY at 31% while EBITDA grew 20.3% YoY to Rs.101 crore. Adjusted PAT grew 16.3% YoY to Rs.75 crore.
Views: Caplin’s core business in Latin America and Africa delivered strong growth amid challenging landscape in logistics while Caplin Steriles 9MFY22 sales has overtaken FY21 revenues and has set a target of US$100 million by FY26 in US. Caplin is undergoing on a capex journey of Rs.430-450 crore to expand existing capacities, widen its product portfolio and backward integrate majority of the products. Caplin plans to enter more regulated markets such as Canada, Australia, China, Russia/CIS as well as enter the bigger LATAM markets of Mexico and Brazil in the near to medium term horizon.