Ajanta Pharma begins the year with satisfactory performance

MUMBAI, India - July 29, 2013 - PRLog -- Ajanta Pharma begins the year with satisfactory performance

Mumbai – (July 29, 2013) – Ajanta Pharma Limited, a specialty focused pharmaceutical formulation company, has announced its results today where it continued its growth journey during the quarter ended June 30^th 2013 with yet another satisfactory performance.  

Highlights of Q1 FY14 standalone financial performance are

· Revenue from operations at Rs.219crs (Rs.174crs), growth of 26% over Q1 last year

· EBITDA at Rs.51crs (Rs.37crs), growth of 38% over same quarter last year

· Profit before Tax at Rs.48crs (Rs.23crs), growth of 106% over same quarter last year

· Profit after Tax at Rs.33crs (Rs.20crs), growth of 66% over same quarter last year

· Exports contributed 55% of the Net Sales for the quarter

Commenting on the results, Mr. Yogesh Agrawal, Managing Director said “Our sustained performance quarter after quarter reflects the result of our undivided commitment towards brand building leading to sustained business.  We have been able to build a strong brand equity across geographies – India and overseas in the branded generic space”.

During the quarter, company filed 1 more ANDA with USFDA, taking the total tally to 15 ANDAs (2 approved and 13 waiting for approval).   On the occasion of completing 40 years of ‘Serving Global Health Care Needs’, Company’s Board has recommended issue of bonus shares in the ratio of 1 share for every 2 shares held.

About Ajanta Pharma Limited

Ajanta Pharma is a speciality pharmaceutical formulation company. Ranked 45^th in the Indian formulation market (IMS MAT Mar’13); company has leading brands in therapeutic segments of Ophthalmology, Dermatology and Cardiology. Many of company’s products are first in the market place and are leading in their sub therapeutic segments. Company has a well established branded generic business in emerging markets of Asia, Africa and Latin America. It has entered in the regulated markets of USA last year and is building a portfolio of ANDAs for this market. It has also received marketing authorization in 11 EU countries including UK, for one of its product.

For last 10 years, company’s consolidated performance has been outstanding with CAGR of 23% in revenue and 53% in net profit.

Ajanta Pharma has its State of the Art R&D centre for formulation development, located at Mumbai, having a team of more than 250 people. Company has world class manufacturing facilities - 4 located in India and 1 at Mauritius. One of the manufacturing facilities in India holds approval from US FDA, UK MHRA, World health organisation (WHO) Pre-qualification, apart from having the approval from FDA of many other countries. Company is setting up two more manufacturing facilities in India, one for regulated markets and another for domestic and rest of the world markets. For more details please visit our website www.ajantapharma.com