Standalone Q4 Revenue Growth 25%, Net Profit Growth 159%

May 5, 2014 - PRLog -- Mumbai – (May 05, 2014) – Ajanta Pharma Limited,(BSE-532331, NSE-AJANTPHARM, Reuters:AJPH.NS, Bloomberg:AJP:IN), a specialty focused pharmaceutical formulation company, reported financials today for the quarter and year ended March 31^st 2014 with a remarkable performance.

Highlights of Q4 FY14 standalone financial performance

·         Revenue from operations at Rs. 311 Cr. (Rs. 249 Cr.), 25% growth over Q4 last year

·         EBITDA at Rs. 112 Cr. (Rs. 69 Cr.), growth of 63% over Q4 last year

·         Profit after Tax at Rs. 70 Cr. (Rs. 27 Cr.), growth of 159% over Q4 last year

·         Exports contributed 66% of the total operating income for the quarter

Highlights of FY14 standalone financial performance

·         Revenue from operations at Rs. 1,110 Cr. (Rs. 839 Cr.), growth of 32% over last year

·         EBITDA at Rs. 346 Cr. (Rs. 210 Cr), growth of 65% over previous year

·         Profit after Tax at Rs. 221 Cr. (Rs. 101 Cr.), growth of 118% over last year

·         Exports contributed 63% of the total operating income for the year

·         Proposes dividend of Rs. 10 per equity share of face value of Rs. 5 each, post bonus

Highlights of FY14 consolidated financial performance

·         Revenue from operations at Rs.1,208 Cr. (Rs.931 Cr.), growth of 30% over last year

·         EBITDA at Rs. 369 Cr. (Rs. 225 Cr), growth of 64% over previous year

·         Profit after Tax at Rs. 234 Cr. (Rs. 112 Cr.), growth of 109% over last year

Mr. Yogesh Agrawal, Managing Director of the company said “We are pleased with the execution of our strategy during the year which is reflected in healthy results.  All our geographies have performed inline with our expectations.  Our India speciality business continues to post robust growth much above the industry growth.  We continue to build branded generic business in select overseas markets and lay foundation for sustained growth in coming years.”

India Business: Specialty Focus

India formulations business was Rs. 95 Crore for the fourth quarter, up 33% over Q4 last year.  FY’14 sales were at Rs. 385 Crore, against Rs. 292 Crore for same period last year.  Ajanta’s overall ranking stood at 39^th as per IMS MAT Mar’14, with growth of 32% for the year against 10% of industry.  Twenty four (24) new products were launched during the financial year (5 in Q4).

Emerging Markets: Establishing strong presence

Ajanta has established strong presence across Africa (including anti-malaria), CIS, West Asia and South-East Asia.  Formulation sales in these markets accounted for Rs. 206 Crores in Q4FY’14 registering a growth of 16% over last year Q4.  Annual sales stood at Rs. 695 Crore, a growth of 29% over last year.  The company continued to improve its ranking in different emerging markets and its brands are gaining further grounds.  The company has a basket of more than 1,400 brand registrations for these markets and another 1,400+ brands are under registration to ensure continued growth.

R&D: Maintaining pace of filings

Company filed 1 more ANDA with US FDA during the quarter taking total tally to 23 ANDAs (filed 9 in FY’14), with 2 approved and 21 awaiting approval.  R&D expense for FY’14 was Rs. 50 Crore or 4.50% of revenue, against Rs. 37 Crore or 4.41% of revenue last year same period.

About Ajanta Pharma Limited

Ajanta Pharma - a speciality pharmaceutical formulation company has leading brands in therapeutic segments of Ophthalmology, Dermatology, Cardiology and pain management.  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.  It has recently entered the regulated markets of USA and is building a portfolio of ANDAs for this market.

Company’s state of the art R&D centre for formulation development is located at Mumbai, having a team of 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 FDAs of many other countries.  Company is setting up two more manufacturing facilities in India, one for regulated markets and another for domestic and emerging markets.

For last 10 years, company has been able to achieve outstanding performance with its consolidated revenue showing a CAGR of 22% and net profit 42%.

For more details visit www.ajantapharma.com

For specific queries, contact:  Rajeev Agarwal Tel: +91 22 66061377 Email:  rajeev.agarwal@ajantapharma.com