Senores Pharmaceuticals Limited has extended the time period for the acquisition of the remaining 540 equity shares of Havix Group Inc. D/B/A Aavis Pharmaceuticals by 60 days from June 24, 2025.
This extension is due to pending approvals from the Reserve Bank of India (RBI).
Senores Pharmaceuticals had earlier intimated on March 11, 2025, March 12, 2025, and April 22, 2025, regarding the acquisition of 8,454 equity shares from certain shareholders of Havix Group Inc., out of which 7,914 equity shares have already been acquired.
Senores Pharmaceuticals Limited's Board of Directors, at a meeting held on Monday, June 2, 2025, appointed Sharp & Tannan Associates, Chartered Accountants (Firm Registration No. 109983W), as the Internal Auditor of the Company.
This appointment is for the Financial Year 2025-26, based on the recommendation of the Audit Committee.
Sharp & Tannan Associates, established in 1934, has its head office in Mumbai and branches across India, including Ahmedabad and Baroda in Gujarat.
The firm currently has nine partners and possesses over six decades of experience in internal audit, assurance, and other consulting works.
They are proponents of risk-based auditing, focusing on a value-added approach to business processes and adhering to the COSO 1992 framework.
The firm also emphasizes early adoption of RPAs/Robotics automations in internal audit and consulting assignments for improved efficiency.
The Board meeting commenced at 12:15 P.M. (IST) and concluded at 01:40 P.M. (IST) on June 2, 2025.
Senores Pharmaceuticals Limited held its Q4 and FY25 Earnings Conference Call on May 16, 2025.
The company reported strong financial performance, with income from regulated markets growing 17% to ₹64 crore in Q4 FY25, and income from emerging markets at ₹37 crore.
Full-year income stood at ₹410 crore, a 91% increase over FY24, driven by both regulated and emerging market businesses.
Regulated market income grew 69% to ₹245 crore, while emerging market income surged 174% to ₹121 crore.
Consolidated EBITDA for FY25 showed a 145% increase, reaching ₹102 crore, with an EBITDA margin of 25%, up 540 basis points from FY24.
Profit after tax and minority interest for the year stood at ₹59 crore, an 86% increase over FY24.
The company acquired 14 ANDAs from Dr. Reddy's and one from Breckenridge, expanding its portfolio to 61 ANDA products, with 22 commercialized ANDAs as of March 31, 2025.
Senores plans to launch around 31 ANDA products in regulated markets and 23 CDMO-CMO products in the current financial year.
The CDMO-CMO segment has a pipeline of 69 products as of March 2025, with many expected to be commercialized during the fiscal year; the portfolio stands at about 22 products.
The company anticipates a revenue mix of approximately 70% from regulated markets and 30% from emerging markets, maintaining a sustainable margin in the range of 24% to 26% annually.
Management anticipates at least 50% top-line growth and 100% PAT growth for the next year.
Swapnil Shah, Managing Director, mentioned that the company is targeting at least 50% plus top-line growth and 100% growth in profit after tax (PAT) for the next year. He also noted that a revenue of approximately ₹15 crore, initially expected in Q4, was deferred due to packaging line issues and product launch delays.
Senores Pharmaceuticals Limited (SPL), through its US subsidiary SPI, has acquired the USFDA-approved Abbreviated New Drug Application (ANDA) for Enalapril Maleate Tablets 2.5mg, 5mg, 10mg, and 20mg from Wockhardt Limited.
Enalapril is used to treat hypertension, heart failure, and asymptomatic left ventricular dysfunction.
The market size for Enalapril Tablets in the USA is approximately USD 28.60 million (MAT December 2024) as per IQVIA and USD 109.24 million (MAT March 2025) as per Symphony.
The acquisition will be funded through the Initial Public Offer (IPO) proceeds raised by SPL, aligning with the IPO objectives.
Senores Pharmaceuticals Limited held an earnings conference call on May 16, 2025, to discuss the audited financial results for the quarter and financial year ended March 31, 2025.
The conference call included participation from several analysts, institutional investors, funds, and other investors.
Senores Pharmaceuticals was represented by Mr. Sanjay Majmudar (Chairman), Mr. Swapnil Shah (Managing Director), and Mr. Deval Shah (Whole Time Director and CFO).
The audio recording of the earnings conference call is available on the company's website at https://senorespharma.com/investor-meet/.
The company confirms that no Unpublished Price Sensitive Information (UPSI) was shared or discussed during the call.