Operating Revenue up 21%, PAT up 41%

MUMBAI, India - Oct. 30, 2014 - PRLog -- Operating Revenue up 21%, PAT up 41%

Standalone – 2^nd Quarter Results - FY 2014-15

Mumbai, 30^th October 2014:  Ajanta Pharma Limited,a specialty focused pharmaceutical formulation company reported today its performance for the second quarter and half year ended 30^th September 2014.

Highlights of Q2 FY ‘15 vis-a-vis Q2 FY ‘14 standalone financial performance are:

·         Revenue from operations grew 21% at Rs. 337 cr. against Rs. 280 cr.

·         EBITDA growth of 32% at Rs. 111 cr. against Rs. 84 cr.  EBITDA at 33% of revenue

·         Profit before Tax at Rs. 113 cr. against Rs. 79 cr., a growth of 43%

·         Profit after Tax grew 41% at Rs. 79 cr. against Rs. 56 cr. PAT at 23% of revenue

·         Exports contributed 64% of the revenue for the quarter

Highlights of H1 FY ‘15 vis-a-vis H1 FY ‘14 standalone financial performance are:

·         Revenue from operations grew 25% at Rs. 625 cr. against Rs. 498 cr.

·         EBITDA growth of 49% at Rs. 200 cr. against Rs. 135 cr.  EBITDA at 32% of revenue

·         Profit before Tax at Rs. 198 cr. against Rs. 127 cr., a growth of 56%

·         Profit after Tax grew 55% at Rs. 137 cr. against Rs. 88 cr.  PAT at 22% of revenue

·         Exports contributed 61% of the total operating income for the half year

Commenting on the results, Mr. Yogesh M. Agrawal, Managing Director said “We are pleased to add yet another strong quarter to the current financial year.  Our business performance remained aligned to our plans in all the markets that we operate in.  Our consistent focus on high quality business and improvement in efficiencies has led to higher margins.  Using our prudent judgement, we are continously making the required invesments in infrastructure – manufacturing facilities and R&D, anticipating tomorrow’s requirements.”

India Business: Accelerated Growth

For the 2^nd Quarter, overall India business was Rs. 115 cr., up 19% over Q2 last year.    Out of this, Indian Pharmaceutical Market (IPM) business was Rs. 103 cr. posting healthy growth of 32% as against the industry growth of 11%.  Institution sales was Rs. 12 cr., posting de-growth of 36% over previous year quarter.   During the quarter 6 new products were launched, out-of-which 3 were first to market.

For the first half, sales was Rs. 234 cr., up by 21% over same period last year.  Out of this, Indian Pharmaceutical Market (IPM) business was Rs. 211 cr. posting healthy growth of 34% as against the industry growth of 11%.  Institution sales was Rs. 23 cr., posting de-growth of 36% over previous year 1^st half.  In the three major therapeutic segments where we operate, we have posted robust growth of 26% in Dermatology, 44% in Cardiology and 30% in Opthalmology (IMS MAT Sep ‘14).

Emerging Markets: Gaining Grounds

Emerging markets grew 24% during the quarter, with sale of Rs. 216 cr.  Africa contributed Rs. 112 cr. (growth of 22%), Asia Rs. 101 cr. (growth of 32%) and Latin America Rs. 3 cr. (de-growth of 47%).  During the quarter, company launched 12 new products in emerging markets.  In the first half, emerging markets grew 28% with sale of Rs. 376 cr.  Africa contributed Rs. 204 cr. (growth of 30%), Asia Rs. 166 cr. (growth of 30%) and Latin America Rs. 6 cr. (de-growth of 30%).

Company continues to strengthen its brand presence in various emerging markets it operates in.  Company has a pipeline of about 1,700 products under registration paving the way for sustained growth in these markets.

Regulated Markets: Awaiting ANDA Approvals

Company’s re-launch of its first product gained momentum during the quarter.  Currently company has 23 ANDAs under review with US FDA.

R&D: Consistent Futuristic Investments

R&D expenses for the quarter were Rs. 19 cr. (Rs. 13 cr.), while for the first half it were Rs. 30 cr. (Rs. 24 cr.).  Ajanta continues to invest in its R&D infrastructure on continuous basis to meet the business requirements.

About Ajanta Pharma Limited

Ajanta Pharma - a speciality pharmaceutical formulation company has a well-established branded generic business in India and emerging markets.  It has leading brands in therapeutic segments of Ophthalmology, Dermatology, Cardiology and Pain management in India.  In emerging markets, Company has customised product basket with wider therapeutics presence.  Many of company’s products are first in the market place and are leading in their sub therapeutic segments.

The company is now building a portfolio of ANDAs for the regulated markets of USA and has recently entered this market with its maiden product.

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 WHO, apart from having 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/emerging markets.

For last 5 years, company has posted healthy performance with its consolidated revenue showing a CAGR of 31% and net profit of 62%.

For more details visit www.ajantapharma.com

For specific queries, contact:

Rajeev Agarwal Tel: +91 22 66061377Email:rajeev.agarwal@ajantapharma.com