Lincoln Pharmaceuticals Achieves Record Performance with Highest-Ever Revenue and Profit in FY23
Ahmedabad (Gujarat), May 30, 2023: Lincoln Pharmaceuticals Limited, a leading player in India’s healthcare sector, has reported its best-ever financial performance for the fiscal year 2022-23. The company achieved a significant milestone, surpassing Rs. 533 crore in total revenue and Rs. 100 crore in profit before tax for the first time. This performance marks an impressive year-on-year growth and highlights the company’s robust operational and financial health.
For the fiscal year 2022-23, Lincoln Pharmaceuticals reported a net profit of Rs. 72.90 crore, reflecting a 5.11% year-on-year growth compared to Rs. 69.36 crore in FY22. The total income for FY23 stood at Rs. 532.79 crore, up 10.52% from the previous year’s Rs. 482.08 crore. EBITDA for FY23 was Rs. 111.65 crore, a 5.86% increase from Rs. 105.47 crore in FY22, with an earnings per share (EPS) of Rs. 36.40.
Strong Q4 FY23 Performance
For the fourth quarter of FY23, Lincoln Pharmaceuticals reported a net profit of Rs. 12.56 crore, a 14.00% increase over the Rs. 11.02 crore reported during the same period last year. Total income for Q4 FY23 reached Rs. 116.41 crore, an 11.47% increase from Rs. 104.4 crore in Q4 FY22. EBITDA for Q4 FY23 was Rs. 20.54 crore, reflecting a 6.26% rise from Rs. 19.33 crore in the corresponding period. EPS for Q4 FY23 was Rs. 6.27 per share.
Dividend Recommendation
Based on its strong performance, the company has recommended a dividend of 15%, amounting to Rs. 1.50 per share for FY23. This move reflects Lincoln Pharmaceuticals’ continued commitment to rewarding its shareholders and reinforcing its financial stability.
Expansion and Strategic Growth
Mr. Mahendra Patel, Managing Director of Lincoln Pharmaceuticals, expressed his optimism for the future: “The company has reached a remarkable revenue and profit milestone in FY23, driven by robust performance in both domestic and export markets. We are committed to maintaining this growth trajectory and are targeting Rs. 750 crore in revenue by FY26 while continuing to enhance margins. With strategic growth initiatives, geographic expansion, and operational efficiency, we aim to ensure sustainable growth in the years ahead.”
Cephalosporin Plant Expansion
In line with its growth strategy, Lincoln Pharmaceuticals made significant investments in the cephalosporin segment. The company acquired a plant in Mehsana, Gujarat, in September 2021, with an investment of Rs. 30 crore, including both acquisition and subsequent capacity expansion. The plant is expected to contribute Rs. 150 crore in sales over the next three years. The company has received WHO-GMP approval for several products manufactured at the plant, further enhancing its product portfolio.
Strong Financial Position
Over the past five years, Lincoln Pharmaceuticals has demonstrated a solid 17.35% compound annual growth rate (CAGR) in profits and steady single-digit growth in sales. The company has successfully improved its profit margins, from 9.88% in FY18 to 14.88% in FY23. The company’s liquidity position remains strong, supported by healthy cash flows, no-term debt, and favorable return ratios.
Ratings Upgrade
In recognition of its solid financial performance, ICRA has upgraded Lincoln Pharmaceuticals’ long-term and short-term bank facilities to ‘A’ and ‘A1’, respectively. This reflects the company’s improved financial risk profile and consistent profitability.
About Lincoln Pharmaceuticals
Lincoln Pharmaceuticals operates a state-of-the-art manufacturing facility at Khatraj, Ahmedabad, Gujarat, complying with stringent international quality standards, including EUGMP, WHO-GMP, and ISO 9001:2015 certifications. The company has developed over 600 formulations across 15 therapeutic areas and has a strong presence in anti-infective, respiratory, gynaecology, cardiology, anti-diabetic, and anti-malaria segments. Lincoln Pharmaceuticals has filed over 25 patent applications and has been awarded seven patents. The company has a dedicated sales force of over 600 personnel who cater to more than 30,000 doctors and chemists nationwide.
For further information, visit www.lincolnpharma.com.
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Rajneesh Singh is a journalist at Asian News, specializing in entertainment, culture, international affairs, and financial technology. With a keen eye for the latest trends and developments, he delivers fresh, insightful perspectives to his audience. Rajneesh’s passion for storytelling and thorough reporting has established him as a trusted voice in the industry.
