Pharma API player Wanbury to focus on profitability and growth
MUMBAI, India, Feb. 5, 2024 /PRNewswire/ — Wanbury Limited (BSE: 524212) (NSE: WANBURY), a mid-sized fast-growing Pharma API company, aims to consolidate this year by focusing on existing product profitability and market share improvement. According to Mr. Mohan Rayana, Director of Wanbury Limited, “Our consistent efforts towards yield improvement, solvent recoveries, and process engineering initiatives, supported by good market share improvement, are showing results. These efforts have helped improve operating margins. As a mid-term strategy, we plan to expand our API product portfolio and will accordingly be launching two new products this year.” Wanbury is a leading manufacturer and supplier of Metformin API in the world.
The recently announced results of Wanbury, for the third quarter ending December 2023, mark a significant milestone in the history of the company registering its highest-ever quarterly EBITDA of Rs. 22 crore and nine-month EBITDA of Rs. 54 crore. This EBITDA is 225% and 350% higher compared to the same periods last year. The company reported net sales of Rs 146 crore and PAT of Rs 10 crore in the current quarter. In the nine months, the company’s sales stood at Rs 438 crore and PAT of Rs 22 crore. The company has substantially reduced debt, bringing it down from Rs 608 crore to Rs. 117 crore.
The API (Active Pharmaceutical Ingredient) sector has been a sector under focus owing to customers’ need for China +1 and India to emerge as quality & reliable suppliers.
Established in 1988, Wanbury has a strong presence in the API global market and domestic branded formulation. Its API product portfolio includes Metformin, Sertraline, Taramadol, Diphenhydramine, Mefenamic acid, Paroxetine, and multiple others in the pipeline. The company also has a wide presence across major therapeutic categories like cough and cold solutions, gynecology, orthopaedics, nutraceuticals, gastrointestinal, anti-inflammatory, & analgesics.
Wanbury is a supplier to some of the leading global generic players, exporting APIs to over 60 countries from its USFDA & EUGMP-approved facilities at Tanuku (Andhra Pradesh) and Patalganga (Maharashtra).
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