Syngene International is optimistic about a recovery in the second half of FY25, as it aims to balance its research-to-manufacturing ratio from 60:40 to 50:50, focusing on stronger growth in manufacturing. The company also plans to triple its bio-manufacturing capacity by FY26.
Shares of Syngene closed almost 1% higher at Rs 888, up 25% in the last six months against Nifty 50. RFPs have also jumped this year, indicating robust demand for its services.
The global outsourcing trend in favour of India over China would certainly help Syngene, a contract research, development, and manufacturing organisation.
Syngene saw revenue in Q1 FY24 decline 2% YoY to ₹ 790 crore, while profit after tax was down 19% at ₹ 76 crore. EBITDA margins also contracted from 28% to 23%.
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