Caplin Point Laboratories has announced that its revenue crossed ₹1,500-crore milestone in FY23. The Chennai-based pharmaceutical company recorded a consolidated total revenue of ₹1,523 crore in the financial year ended March 31, 2023, a 16 per cent year-on-year growth over ₹1,308 crore in FY22. 

Consolidated net profit grew over 22 per cent year-on-year to ₹377 crore in FY23 against ₹308 crore in FY22. 

Caplin Point manufactures pharmaceutical formulations and therapeutics under generic and branded categories. Its product portfolio includes tablets, capsules, injections, liquid orals, and ointments and creams.

The company’s subsidiary Caplin Steriles, which is into injectables business in the US market, achieved a revenue of ₹213 crore in FY23 with a year-on-year growth of 67 percent. Notably, the subsidiary achieved break even in profit after taxes, per the company. 

Caplin Point has manufacturing facilities in Puducherry, Chennai and Himachal Pradesh. Its subsidiary Caplin Steriles has a plant in Gummidipoondi near Chennai for manufacturing pre-filled syringes, vials, etc. 

Capex plans

According to the company, it will invest ₹550 crore to expand existing capacities, widen product portfolio and integrate products.

“All of the planned capex is funded through internal accruals only,” it added.  

On a quarterly basis, the company’s consolidated net profit grew by 25 per cent year-on-year in the fourth quarter of FY23 to ₹101 crore against ₹81 crore in Q4 FY22. Consolidated revenue from operations grew by 15 per cent to ₹389 crore (₹339 crore), while expenses rose by 10 per cent to ₹277 crore (₹251 crore). 

The company declared a dividend of ₹2 per share for the financial year ended 2022-23. 

Shares of Caplin Point closed flat at ₹735.50 apiece on NSE on Friday.