Anthem Biosciences Reports Strong Q1 Results with 59.5% Revenue Growth
Anthem Biosciences, a leading CRDMO, announced robust Q1 FY24 results. Consolidated revenue increased by 59.5% to ₹5,402.09 million. EBITDA grew 52.7% to ₹2,143.00 million, with a 39.67% margin. PAT rose 64.8% to ₹1,357.91 million. The CRDMO segment saw 70.5% growth, while Specialty Ingredients grew 19.7%. The company completed capacity expansions, inaugurated new facilities, and maintained a strong net cash position of ₹7,848.00 million. Anthem recently completed its IPO and was listed on NSE and BSE.

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Anthem Biosciences , a leading Contract Research, Development and Manufacturing Organization (CRDMO), has announced robust financial results for the first quarter, ending June 30. The company demonstrated significant growth across key financial metrics, underlining its strong market position and operational efficiency.
Financial Highlights
- Revenue Surge: Consolidated revenue from operations soared to ₹5,402.09 million, marking a substantial 59.5% increase compared to ₹3,385.94 million in the same quarter of the previous year.
- EBITDA Growth: The company reported an EBITDA of ₹2,143.00 million, up 52.7% from ₹1,404.00 million in the same quarter last year, with an EBITDA margin of 39.67%.
- Profit After Tax (PAT) Increase: PAT rose significantly to ₹1,357.91 million, representing a 64.8% growth from ₹823.79 million in the corresponding quarter. The PAT margin stood at a healthy 25.14%.
- Segment Performance:
Segment Revenue (₹ million) YoY Growth CRDMO business 4,527.00 70.5% Specialty Ingredients 875.00 19.7%
Operational Highlights
- Capacity Expansion: Anthem completed the expansion of 54 kL custom synthesis capacity at Unit II (Harohalli) and commenced commercial operations.
- New Facilities: The company inaugurated state-of-the-art facilities at Unit III (NeoAnthem, Harohalli), including:
- A dedicated commercial scale peptide manufacturing facility (16kL capacity)
- A commercial scale hi-potent manufacturing facility (2.5kL capacity)
- Future Growth: Construction is underway for a new greenfield facility at the 30-acre site at Harohalli, Bangalore (Unit IV).
Management Commentary
Ajay Bhardwaj, Chairman, Managing Director and CEO of Anthem Biosciences, commented on the results: "We have kicked off with a strong performance, laying a solid foundation for the year ahead. Strong YoY growth reflects a CRDMO revenue stream that started ramping up since the second quarter of the previous fiscal year. A combination of a dedicated team, strategic focus, operational excellence and long-standing client partnerships has helped us deliver performance across both CRDMO and Specialty Ingredients business."
Financial Position
As of June 30, Anthem Biosciences maintained a robust net cash position of ₹7,848.00 million, indicating strong liquidity and financial stability.
Recent Developments
The company successfully completed its Initial Public Offering (IPO) with an offer for sale of 59,575,319 equity shares at an issue price of ₹570 per share. Anthem's shares were listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on July 21.
Anthem Biosciences continues to demonstrate its commitment to innovation and growth in the CRDMO sector, with its expanded facilities and strong financial performance positioning it well for future opportunities in the global pharmaceutical and biotechnology markets.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research and consult with financial advisors before making investment decisions.
Historical Stock Returns for Anthem Biosciences
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
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+1.14% | +3.19% | +5.54% | +15.70% | +15.70% | +15.70% |