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Sales growth of 50% and Net Profit growth of 155%

Ajanta Pharma Limited, a specialty focused pharmaceutical formulation company, reported financials today for 2nd quarter and half year ended September 30th 2013 with an outstanding performance

 
PRLog - Jan. 27, 2014 - MUMBAI, India -- Sales growth of 50% and Net Profit growth of 155%

Mumbai – (October 28, 2013) – Ajanta Pharma Limited,(BSE: 532331, NSE: AJANTPHARM, Reuters:AJPH.NS, Bloomberg: AJP:IN), a specialty focused pharmaceutical formulation company, reported financials today for 2nd quarter and half year ended September 30th 2013 with an outstanding performance.

Highlights of Q2 FY14 standalone financial performance are:

·         Revenue from operations at Rs. 280 crore (Rs. 186 crore), growth of 50% over Q2 last year

·         EBITDA at Rs. 84 crore (Rs. 43 crore), growth of 95% over Q2 last year

·         EBITDA margin at 30% against 23% of Q2 last year

·         Profit after Tax at Rs. 56 crore (Rs. 22 crore), growth of 155% over Q2 last year

·         Exports contributed 64% of the total operating income for the quarter

Highlights of H1 FY14 standalone financial performance are:

·         Revenue from operations at Rs. 498 crore (Rs. 360 crore), growth of 38% over H1 last year

·         EBITDA at Rs. 135 crore (Rs. 79 crore), growth of 70% over H1 last year

·         EBITDA margin at 27% against 22% of H1 last year

·         Profit after Tax at Rs. 88 crore (Rs. 41 crore), growth of 113% over H1  last year

·         Exports contributed 60% of the total operating income for the H1 of this year

Mr. Yogesh Agrawal, Managing Director, Ajanta Pharma Limited, said “We are pleased with healthy results for the quarter driven by India and emerging markets.  We remain focused on select speciality therapeutic segments in India and select geographies in overseas market.  We continue to stretch boundaries of excellence and building quality business on the already laid strong foundation with focus on growing sales and profitability consistently.”

Company filed 3 more ANDAs with US FDA during the quarter taking total tally to 18 ANDAs (2 approved and 16 awaiting approval).

About Ajanta Pharma Limited

Ajanta Pharma is a speciality pharmaceutical formulation company, having leading brands in therapeutic segments of Ophthalmology, Dermatology and Cardiology in India.  Many of company’s products are first in the market place kind 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 is in process of entering USA by 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 the financial year ended 31st March 2013, Ajanta’s consolidated turnover was Rs. 931 crore and Profit after Tax was Rs. 112 crore.  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 350 people.  Company has world class manufacturing facilities - 4 located in India and 1 at Mauritius.  One of the manufacturing facilities in India is approved by US FDA, UK MHRA, pre-qualification from World health organisation (WHO), apart from having the approval from FDA of many other countries.  Company is in-process of setting up two more manufacturing facilities in India, one for regulated markets and another for India and emerging markets.

For more details please visit our website www.ajantapharma.com

Contact
Snehalatha Salian
***@ajantapharma.com

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Source:Ajanta Pharma Limited
Location:Mumbai - Maharashtra - India
Industry:Health, Research
Tags:result, growth
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