Morepen Laboratories Limited has informed the Exchange about Transcript
MOREPENLAB · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Morepen Laboratories filed the transcript of its Q4 FY25 earnings call held on May 13, 2025. FY25 revenue grew 7.4% YoY to INR1,830 crores (lower than the 10-15% the company had hoped for), with Q4 revenue up 10.1% to INR470 crores. Annual EBITDA rose 11.5% with margins expanding 40bps to 10.5%, and PAT grew 22%, showing better flow-through from operations. The pharma business (73% of revenue) grew a muted 5.8% to INR1,334 crores due to API pricing pressure, while the medical devices business (27%) grew 12% to INR496 crores, led by market-leading glucometers (14.2 million installations) and BP monitors. Exports rose to 72.1% of revenue (INR700 crores), and the US exposure is limited to just 6-7%. The company is doubling API capacity to 600 KL, expanding medical device capacity, and plans to grow its medical representative force from 200 to 1,200 over three years. Management guided for 10-15% growth at company level for FY26 and FY27.
The transcript signals improving operational efficiency with EBITDA and PAT outpacing revenue growth, supported by capacity expansion and a shift toward higher-margin formulations. However, muted API growth and Q4 margin softness due to deferred US/EU shipments remain near-term watchpoints. Expect continued multiple expansion potential if the guided 10-15% growth materializes with margin improvement.