Operating Revenue up 32%, PAT up 80%

MUMBAI, India - Aug. 5, 2014 - PRLog -- Operating Revenue up 32%, PAT up 80%

Standalone Quarter I Results, FY 2014-15

Mumbai – (05^th August, 2014) – Ajanta Pharma Limited,a specialty focused pharmaceutical formulation company reported today its performance for the first quarter ended 30^th June 2014.

Highlights of Q1 FY’15 vis-a-vis Q1 FY’14 standalone financial performance are:

·         Revenue from operations grew 32% at Rs. 287 Cr. against Rs. 218 Cr.

·         EBITDA growth of 78% at Rs. 90 Cr. against Rs. 50 Cr.  EBITDA at 31% of revenue

·         Profit before Tax at Rs. 85 Cr. against Rs. 48 Cr., a growth of 78%

·         Profit after Tax grew 80% at Rs. 59 Cr. against Rs. 33 Cr. PAT at 20% of revenue

·         Exports contributed 56% of the revenue for the quarter

Commenting on the results, Mr. Yogesh M. Agrawal, Managing Director, Ajanta Pharma Limited, said “The new financial year has begun on a positive note for us.  The Q1 performance reflects our ability to deliver consistent results by maintaining our focus on select therapeutic specialities and geographies.  Over the decade while growing sales, we have put significant emphasis in improving our margins which is reflected in our results.  We continue to take actions on everyday basis to lay foundation for future.”

India Business: Industry Outperformance

For the 1^st Quarter, overall India business was Rs. 119 Cr., up 24% over Q1 last year.    Out of this, Indian Pharmaceutical Market (IPM) business was Rs. 109 Cr. posting healthy growth of 36% as against the industry growth of 9%.  Institution sales was Rs. 10 Cr., posting de-growth of 37% over previous year quarter.

In the three major therapeutic segments where we operate, we have posted robust growth of 35% in Dermatology, 42% in Cardiology and 25% in Opthalmology (IMS MAT Jun’14).  During the quarter 9 new products were launched, out-of-which 5 were first to market.

Emerging Markets: Growth Traction Continues

Emerging markets grew 34% during the quarter, with sale of Rs. 160 Cr.  Africa contributed Rs. 92 Cr. (growth of 42%), Asia Rs. 65 Cr. (growth of 26%) and Latin America Rs. 3 Cr. (de-growth of 8%).

Company continues to gain ground in the countries it operates by building the brands.  During the quarter, company launched 14 new products in the emerging markets and has a pipeline of about 1,600 products under registration to ensure continued growth.

Regulated Markets: The Journey Begins

Company re-launched its first product in USA through its own front-end team.  Company expects 2-3 more product approvals during the current financial year which should accelerate the business in USA.  Company has filed 2 more ANDAs with US FDA during the quarter taking total tally to 25 ANDAs (2 approved and 23 awaiting approval).

R&D: Consistent Futuristic Investments

R&D expenses for the quarter remained at Rs. 11 Cr.  Company also filed 203 product registration dossiers in the emerging markets during the quarter.  Ajanta continues to invest in its R&D infrastructure and proposes to expand the facilities in coming years.

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 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 66061377

Email:rajeev.agarwal@ajantapharma.com