Income from Operations at Rs. 473 cr., PAT at Rs. 95 cr

MUMBAI, India - Aug. 9, 2017 - PRLog -- Ajanta Pharma Ltd. a specialty pharmaceutical formulation company reported today its performance for the 1^st quarter ended 30^th June 2017.

Q1 FY 2018 performance highlights (Consolidated, compared to Q1 FY 2017)

·         Income from operations at Rs. 473 cr. against Rs. 476 cr.

·         EBITDA at Rs. 131 cr. against Rs. 166 cr., down 21%, EBITDA at 28% of revenue.

·         Profit after tax at Rs. 95 cr., 20% of revenue, against Rs. 120 cr., down 21%.

·         Total comprehensive income at Rs. 97 cr. against Rs. 125 cr. down 23%.

Commenting on the results, Mr. Yogesh Agrawal, Managing Director said:

"India sales were adversely impacted due to de-stocking by the distribution channel on account of GST, which impacted overall financials of the company.  Our export markets continue to perform at steady rate on the back of new product launches and increase in the market share.  Our both manufacturing facilities have successfully undergone US FDA inspections paving way for ANDA approvals under review with US FDA.  Our Phase 2 construction at Guwahati is on target to be commissioned in Q4 of FY 2018."

India

For Q1 FY 2018, India's branded generic sales (excluding institution) was Rs. 135 cr. posting de-growth of 14%.  Total India sales (including institution) for Q1 FY 2018, was Rs. 143 cr., de-growth of 12%.

As per IMS MAT June '17, we have posted healthy growth of 19% in Cardiology (segment growth of 7%), 18% in Ophthalmology (segment growth of 10%), 7% in Dermatology (segment growth of 16%) and 11% in Pain Management (segment growth of 7%).

Exports

During Q1 FY 2018, export sales were Rs. 321 cr., posting growth of 8%. Africa contributed Rs. 168 cr., de-growth of 13%, Asia contributed Rs. 96 cr., growth of 4% and US contributed Rs. 54 cr. growth of 463%.

In US, we received 1 ANDA final approval, commercialized 1 product and filed 1 ANDA with US FDA during Q1 FY 2018.  With this, company has 13 products commercialized out of 18 final ANDA approvals, has 2 tentative approvals and 15 ANDAs awaiting approval with US FDA at the end of Q1 FY 2018.  Company plans to file 12-15 ANDAs during this financial year.

R&D

During Q1 FY 2018, R&D expenses were Rs. 47 cr. (Q1 FY 2017 Rs. 32 cr.) which is 10% of operating revenue.

About Ajanta Pharma Limited

Ajanta Pharma is a speciality pharmaceutical formulation company having branded generic business in India and emerging markets, generic business in US and institution business in Africa.  Many of company's products are 1^st to market and are leading in their sub-therapeutic segments.

Company's state of the art R&D centres for formulation development and API are located at Mumbai, having a team of 800+ scientists. Company has 7 world class manufacturing facilities located in India and Mauritius.

For last 5 years, company has posted healthy performance with its consolidated total income growing at 21% CAGR and net profit at 46% CAGR.

For more details visit www.ajantapharma.com

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For specific queries, contact:

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

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