Press Release (ePRNews.com) - MUMBAI, India - Jan 24, 2017 - Ajanta Pharma Ltd. a specialty focused pharmaceutical formulation company reported today its performance for the 3rd quarter and 9 Months ended 31st December 2016.
Q3 FY 2017 performance highlights (Consolidated, as per Ind AS)
· Income from operations grew 12% at Rs. 533 cr. against Rs. 477 cr.
· EBITDA growth of 9% at Rs. 178 cr. against Rs. 164 cr., EBITDA at 33% of revenue.
· Profit before tax grew 19% at Rs. 181 cr. against Rs. 153 cr.
· Profit after tax grew 25% at Rs. 143 cr. against Rs. 114 cr., PAT at 27% of revenue.
9 Months ended FY 2017 performance highlights (Consolidated, as per Ind AS)
· Income from operations grew 16% at Rs. 1,525 cr. against Rs. 1,314 cr.
· EBITDA growth of 20% at Rs. 528 cr. against Rs. 440 cr., EBITDA at 35% of revenue.
· Profit before tax grew 20% at Rs. 504 cr. against Rs. 420 cr.
· Profit after tax grew 29% at Rs. 393 cr. against Rs. 303 cr., PAT at 26% of revenue.
Commenting on the results, Mr. Rajesh, Joint Managing Director said:
“We have posted yet another quarter of satisfactory growth in sales and profitability. The external factors in emerging markets continue to pose challenges resulting into sub-optimal business. However we are pleased with the remarkable ramp up of our US business which has posted great results for the quarter.
Going forward, we continue to focus on our key markets and therapeutic segments to drive the growth.”
For Q3 FY 2017, India’s branded sales (excluding institution) was Rs. 149 cr. posting healthy growth of 13%. For 9 Months in FY 2017, India branded sales (excluding institution) was Rs. 460 cr. posting healthy growth of 18%.
For Q3 FY 2017, Total India sales (including institution) was Rs. 154 cr., up 12%. For 9 Months FY 2017, Total India sales (including institution) was Rs. 474 cr., up 13%.
During Q3 FY 2017, Export sales were Rs. 361 cr., posting growth of 9%. Africa contributed Rs. 211 cr., growth of 8%, Asia contributed Rs. 90 cr. de-growth of 30% and US contributed Rs. 59 cr. growth of 1291%.
For 9 months, FY 2017, Exports sales grew 14% with sale of Rs. 1,002 cr. Africa contributed Rs. 579 cr. (growth of 12%), Asia contributed Rs. 281 cr. (de-growth of 18%) and US contributed Rs. 139 cr. a growth of 1351%.
De-growth in Asia and lower growth in Africa was mainly due to currency devaluations and forex scarcity in select geographies, which continue to pose challenges and resulted into sub-optimal business.
In US, we received 2 ANDA final approvals, commercialized 3 products and filed 6 ANDAs with US FDA during the quarter. At the end of quarter, Company has received 16 final ANDA approvals, 2 tentative approvals and 14 ANDA awaiting approval with US FDA.
Company has significantly increased its R&D spend during the quarter. For Q3, R&D expenses were Rs. 45 cr., 8% of operating revenue (Q3 FY 2016 Rs. 26 cr.). For 9 Months, R&D expenses were Rs. 114 cr., 7% of operating revenue (9 Months FY 2016 was Rs. 70 cr.).
Increase in the R&D spend is with the objective of increasing the ANDA filing pace in US and increasing the registration dossiers fillings in India & emerging markets.
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 & India. Many of company’s products are 1st 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 world class manufacturing facilities located in India and Mauritius. One of the manufacturing facilities in India is approved by US FDA, pre-qualification from WHO, along with approvals from FDAs of many other countries.
For last 5 years, company has posted healthy performance with its consolidated revenue growing at 26% CAGR and net profit at 51% CAGR.
For more details visit www.ajantapharma.com
For regular updates follow us on twitter– www.twitter.com/ajantapharmaltd
For specific queries, contact:
Rajeev Agarwal Tel: +91 22 66061377 Email:firstname.lastname@example.org
Corporate Identity Number (CIN): L24230MH1979PLC022059
Safe Harbour Statement (http://www.ajantapharma.com/Safe-Harbour.html) Source :
Ajanta Pharma Limited