Lincoln Pharmaceuticals Limited has reported standalone net profit of Rs. 27.65 crore for the quarter ended 30th September 2023, growth of 16.62% Y-O-Y as compare to the net profit of Rs. 23.71 crore in Q2 FY23.

Total Income from operation for the Q2FY24 was reported at Rs. 164.68 crore, higher by12.56% over Q2 FY23 total income from operation of Rs. 146.30 crore. EBITDA for the Q2 FY24 ended September 2023 was reported at Rs. 39.84 crore as compared to Rs. 34.59 crore in Q2 FY23 registering growth of 15.18%. EPS for Q2FY24 was reported at Rs. 13.81 per share. Shareholders at the 29th Annual General Meeting (AGM) approved a dividend of Rs. 1.50 per share for the FY 2022-23.

Commenting on the results and performance, Mahendra Patel, Managing Director, Lincoln Pharmaceuticals Limited, said, “We are delighted to share that company has continued to experience robust growth across all business verticals in Q2 and H1FY24, all while maintaining net debt-free status. We expect better growth in Q3 and Q4 of the financial year, driven by new product launches in both the domestic and export markets, as well as improvements in operational efficiency and higher-margin products. With the robust growth initiatives, product and geographical expansion, and operational efficiency, we expect to achieve revenue of Rs. 750 crore in FY26."

In FY24, company will continue to build a strong portfolio in lifestyle and chronic segment especially women healthcare, dermatology to complement its strong presence in the acute segment. During FY23, company launched 18 products in the domestic market and filled 130 plus dossiers in the export market. Company has over 1,700 registered products and another 700 in pipeline.

Company has successfully completed expansion of the Cephalosporin plant at Mehsana, Gujarat. Commercial production from this plant has started and the company has initiated sales in the domestic markets. Furthermore, the company is in the process of registering the product for export to many countries. The plant is expected to contribute sales of around Rs. 150 crore in next 3 years. 

Company currently exports to 60 plus countries including East & West Africa, Central, North & Latin America and Southeast Asia. Company has recently started exports to Canada. TGA - Australia and EU GMP approvals will further strengthen the company's presence and expand its network to 90 plus countries.

As of September 2023, Foreign Institutional Investors (FIIs) have steadily raised their holding in the company to 2.59%.