Wockhardt Q4FY15 net sales posted at Rs1079 crore

International business contributed 72 per cent of the total revenues during the FY14-15

Wockhardt reported its fourth quarter and twelve months results for financial year 2015. The consolidated revenue for the twelve months was Rs 4481 crore and profit after tax was at Rs 405 crore. The company increased its research spend significantly and the same is now at 11 per cent to sales at Rs 489 crore and including capital expenditure is at 11.5 per cent to sales for the twelve months ended FY15.

Capital expenditure of Rs 431 crore was incurred in twelve months of FY15. Wockhardt India business grew by 24 per cent during the twelve months FY15. The company launched 42 new products in FY14-15.

Wockhardt’s international business contributed 72 per cent of the total revenues during the FY14-15. The company’s US business declined by 49 per cent in twelve months of FY15 and contributed 24 per cent of the global revenues for Wockhardt in twelve months of FY15. The UK business recorded a growth of 46 per cent in FY15 (in £ terms 35 per cent). The Irish market declined 10 per cent in FY15 (in € terms 11 per cent). Emerging markets business grew by three per cent in twelve months of FY15.

The consolidated revenue for the quarter ended March 31, 2015 grew by four per cent at Rs1079 crore and EBIDTA by 11 per cent at Rs 136 crore. Profit after tax for the quarter was Rs 34 crore with PAT margin at about 3.2 per cent. Research expenses stood at Rs148 crore for the quarter representing 13.7 per cent of sales and including capital expenditure is at 15 per cent of sales.

The UK business recorded a growth of 36 per cent during the quarter (in £ terms 34 per cent). Wockhardt India business grew by 46 per cent during the quarter. Wockhardt launched two new products in domestic market in Q4FY15.

Wockhardt’s US business declined by 21 per cent in Q4FY15 and contributed 27 per cent of the global revenues for Wockhardt in Q4FY15. The Irish market declined by 11 per cent in Q4FY15 (in € terms six per cent). Emerging markets business declined by 25 per cent in Q4FY15.