Startup News Magazine

Lincoln Pharma Reports Highest-Eve Revenue, EBIDTA, Net Profit

Net Profit reports Y-o-Y growth of 11.42% to Rs. 69.36 crore.

Net Revenues from operations report Y-o-Y growth of 11.63% to Rs. 472.08 crore.

EBITDA reports Y-o-Y growth of 13.67% to Rs. 105.47 crore.

Ahmedabad, May 19: Lincoln Pharmaceuticals Limited, one of India’s leading healthcare companies, reported its Best-ever results in a financial year with the highest – Revenue, EBITDA and Net Profit for the FY ended March 2022. The company has recommended a dividend of 15%, Rs. 1.50 per share on the face value of Rs. 10 per share for the FY 2021-22.

The company reported a net profit of Rs. 69.36 crore for FY22 as against a net profit of Rs. 62.25 crore in the corresponding period last year, a growth of 11.42%. Net revenue from operations for FY22 was reported at Rs. 472.08 crore, higher by 11.63% over the previous fiscal’s same period revenue of Rs. 422.91 crore. The company reported an EBITDA of Rs. 105.47 crore in FY22, a rise of 13.67% as compared to EBITDA of Rs. 92.78 crore in FY21. EPS for FY22 was reported at Rs. 34.63 per share.

Commenting on the results and performance, Mr. Mahendra Patel, Managing Director, Lincoln Pharmaceuticals Limited, said, “We feel proud to inform all our stakeholders that the company is progressing well on its long-term growth roadmap. The company has reported excellent numbers for FY 2022, with the highest Revenue, EBITDA, and Net Profit reported yearly. With robust performance, the company has recommended a dividend of Rs. 1.50 per share. The company’s expansion plans for Cephalosporin products and foray into EU and Australian markets are also progressing well. The company is growing strength to strength, delivering robust operational and financial performance, maintaining healthy growth in revenue, margins and profitability. We expect the growth momentum to continue and get further boost in coming years.”

CRISIL Ratings has upgraded its ratings on the bank facilities of Lincoln Pharmaceuticals Ltd to ‘CRISIL A/Stable/CRISIL A1’ from CRISIL A-/Positive/CRISIL A2+. CRISIL report further states that “The rating upgrade reflects the Lincoln group’s improved business profile and the continued consolidation in the financial risk profile. Over the medium term, the group is expected to maintain its growth trajectory and healthy margin. It shall be supported by the addition of Cephalosporin, which has the potential to add around 30% to the topline over the next three fiscals. Further, the group’s European market foray shall provide an additional fillip to the business profile.”


Financial Overview – Lincoln Pharmaceuticals FY 12 to FY22


Year Revenue EBITDA Net Profit EPS ROCE
FY 22 472.08 105.47 69.36 34.63 21.93%
FY 12 175.5 16.9 5.12 3.14 10%
10 Yrs CAGR 10.40% 20.09% 29.77% 27.13% 8.17%

During the last ten years from FY12 to FY22, Lincoln Pharmaceuticals Ltd has delivered a robust 29.77% plus CAGR in Net profits, 20.09% in EBITDA and 10.40% in Revenue. The liquidity position of the company is on a strong foundation, supported by healthy cash accruals, free cash/liquid investments, no term debt and healthy return ratios. Rating agency ICRA too has reaffirmed the company’s long-term and short-term bank facilities to A and A1 respectively.

Update on Cephalosporin Expansion – In September 2021, the company acquired a plant in Mehsana, Gujarat, to launch Cephalosporin products. Capital investment using an internal fund source for the acquisition of cephalosporin plant (including capacity expansion) for Rs. 30 crores. The plant is expected to contribute sales of around Rs. 150 crores in the next three years. The plant will cater to all the Cephalosporin products, i.e. tablets, capsules, Dry syrup and Injectable.

The export business of the company has shown strong growth over the years. It currently exports to 60 plus countries, including East & West Africa, Central & Latin America and Southeast Asia. TGA – Australia and EU GMP approvals will strengthen the company’s presence and expand its network to 90 plus countries. FOB Value of Exports for FY22 reports of Rs. 266.18 crore.

Lincoln Pharma has a state-of-the-art manufacturing facility unit at Khatraj in Ahmedabad, Gujarat, complying with stringent international quality and compliance norms and certified by EUGMP, WHO-GMP, TGA – Australia and ISO-9001: 2015. The company has developed 600 plus formulations in 15 therapeutic areas. It has a strong product/brand portfolio in anti-infective, respiratory system, gynaecology, cardio & CNS, anti-bacterial, anti-diabetic, and anti-malaria, among others. To complement the company’s strong presence in the acute segment, the company is also building a portfolio in lifestyle and chronic segments, especially dermatology, gastro and pain management. The company has filed 25 plus patent applications and has been awarded seven patents. The company has a strong presence in the domestic market nationally with a dedicated field force of over 600 personnel who cater to more than 30,000 doctors, and chemists across the country.