Lincoln Pharmaceuticals Ltd enters elite league; Enters Rs. 1,000 crore plus market cap club
Company has set a target of achieving Rs. 750 crore revenue by FY26
Ahmedabad (Gujarat) [India], August 30: Lincoln Pharmaceuticals Limited, one of India’s leading healthcare companies has entered the elite league and Rs. 1,000 crore plus market capitalization companies club for the first time. Share price of the company hit a 52 week high of Rs. 513 per share on 28 August 2023 – gain of over 75% in a year’s time. Company aims to maintain healthy growth in revenue and margins in the coming years and has set a target of achieving Rs. 750 crore revenue by FY26 while maintaining its ‘Net Debt Free’ status.
For FY23, the company has reported its Best-ever results in a financial year with highest – Revenue, EBITDA and Net Profit. Company achieved a milestone of Rs. 500 crore plus revenue and Rs. 100 crore plus profit before tax for the first time in a financial year. During Q1FY24 also, company reported an excellent operational and financial performance with Y-o-Y growth of 26.7% in Net Profit, 21.4% growth in EBITDA and 10.3% growth in Total Income.
Company has successfully completed expansion of the Cephalosporin plant at Mehsana, Gujarat. Commercial production from this plant has started and the company started selling in the domestic markets with product registration under process for many countries for exports. The plant is expected to contribute sales of around Rs. 150 crore in next 3 years.
Company is also ranked among a very few companies to achieve a profit growth every single year from FY13 to FY23. It is among only 16 companies out of 4,200 plus listed companies in the Indian stock exchange to do so as per the analysis of Morningstar. During 10 years from FY13 to FY23, Company has delivered a robust CAGR of over 22% in Net profits, 19% plus in EBITDA and over 10% in Revenue.
Financial Performance – Lincoln Pharmaceuticals FY 13 to FY23
Rating agencies, CRISIL has upgraded its ratings on the company’s bank facilities to ‘CRISIL A/Stable and CRISIL A1’. ICRA too has reaffirmed the company’s long-term and short-term bank facilities to A and A1 respectively. The liquidity position of the company is on a strong foundation, supported by healthy cash accruals, no-term debt, and healthy return ratios.
Over the last few years, promoter group have gradually increased their stake in the company. Foreign institutional investors holding as on June 2023 stands at 1.74%. In the last one year, share price of the company has gained by over 75% – from Rs. 283.5 per share on 29 August 2022 to Rs. 4505 per share at close on 28 August 2023.
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.
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, TGA, WHO-GMP; ISO-9001:2015, ISO-14001:2015 and ISO-45001:2018. Company has developed 600 plus formulations in 15 therapeutic areas and has a strong product/brand portfolio in anti-infective, respiratory system, gynaecology, cardio & CNS, anti-bacterial, ant-diabetic, anti-malaria among others. Company has filed 25 plus patent applications and is awarded with seven patents.
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