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Ajanta Pharma posts healthy growth
Ajanta Pharma Limited, a specialty focused pharmaceutical formulation company, has continued its growth during the first quarter of current financial year 2012-13.
Net Profit up 56%, Revenue up 35%
Mumbai – (July 19, 2012) – Ajanta Pharma Limited, a specialty focused pharmaceutical formulation company, has continued its growth during the first quarter of current financial year 2012-13. Company’s Net Profit grew by 56% at Rs.19.58crs against Rs.12.53crs for the first quarter last financial year. Revenue for the first quarter of financial year 2012-13 stood at Rs.174.05crs (Rs.128.80crs)
During the quarter, finance cost has seen a major jump at Rs.15.95crs as against Rs.2.80crs during last year same period. This includes losses on Foreign Currency loans borrowed by the company. However, the same is set off to major extent through a gain on foreign currency debtors outstanding, which is included in other income, which has gone up to Rs.9.76crs against Rs.0.23crs in the previous year same period. This is in line with the policy followed by the company for natural hedging of its foreign currency exposures.
The Company’s Board of Directors have fixed the record date of 10th August 2012 for splitting of its equity share of Rs.10 each in to 2 equity shares of Rs.5 each.
About Ajanta Pharma Limited
Ajanta Pharma is a speciality pharmaceutical formulation company, having leading brands in the therapeutic segments of Ophthalmology, Dermatology and Cardiology. Many of the company’s products are first of its kind and are leading in their sub therapeutic segments. Company exports its products to more than 25 countries and established strong brand equity in these markets. For last 10 years, company’s consolidated performance has been excellent with CAGR of 22% in sales and 46% in net profit.
Ajanta Pharma has its State of the Art R&D centre located at Mumbai, with more than 200 scientists working for formulation development. The company has world class manufacturing facilities - four located in India and one at Mauritius. One of the manufacturing facilities at Aurangabad is approved by US FDA, UK MHRA and World health organisation (WHO), apart from having the approval from FDA of many other countries. Company is in the process of setting up two more manufacturing facilities in India, one for regulated markets and another for domestic and rest of the world markets.