Board of Directors has approved sub-division of nominal value of equity shares of the company from Rs 5 each to nominal value of Rs 2 each
Ajanta Pharma reported its performance for the third quarter and nine months ended December 31, 2014. The revenue from operations grew 21 per cent at Rs 363 crore against Rs 301 crore in the third quarter. Earnings before interest, taxes, depreciation, and amortization (EBITDA) has grown 32 per cent at Rs 131 crore against Rs 99 crore. EBITDA was posted at 36 per cent of revenue. Profit before tax was at Rs 124 crore against Rs 90 crore, registering a growth of 38 per cent.
Profit after tax (PAT) grew 36 per cent at Rs 85 crore against Rs 62 crore. PAT at 23 per cent of revenue. Exports contributed 67 per cent of the revenue for the quarter.
In the nine months, standalone financial performance, the revenue from operations grew 24 per cent at Rs 987 crore against Rs 799 crore. It posted EBITDA growth of 42 per cent at Rs 332 crore against Rs 234 crore and EBITDA at 34 per cent of revenue.
Profit before tax at Rs 322 crore against Rs 217 crore, a growth of 49 per cent. Profit after tax grew 47 per cent at Rs 222 crore, against Rs 151 crore PAT at 72 per cent of revenue. Exports contributed 61 per cent of the total operating income for the nine months.
Rajesh Agrawal, Joint Managing Director, Ajanta Pharma said, “Our Dahej formulation facility (oral solids) implementation has been completed and is undergoing qualification. We expect to take regulatory filing batches from Q1 FY’16 onwards.”
For the third quarter, the overall India business was Rs 132 crore, up 35 per cent over Q3 last year. Out of this, the Indian Pharmaceutical Market (lPM) business was at Rs 109 crore posting a growth of 30 per cent as against the industry growth of 11 per cent. Institution sales was Rs 23 crore, posting growth of 69 per cent over previous year quarter. During the quarter six new products were launched, out-of-which two were first to market.
For the nine months, sales was at Rs 366 crore, up by 26 per cent over same period last year. Out of this, IPM business was Rs 321 crore posting a growth of 33 per cent as against the industry growth of 11 per cent. Institution sales was Rs 45 crore, posting de-growth of seven per cent over previous year nine months. In the three major therapeutic segments, the company posted robust growth of 35 per cent in cardiology, 30 per cent in opthalmology and 16 per cent in dermatology (lMS MAT Dec ’14).
Emerging markets grew 15 per cent during the quarter, with sale of Rs 223 crore. Africa contributed Rs 110 crore (growth of four per cent), Asia Rs 109 crore (growth of 25 per cent and Latin America Rs four crore (growth of 112 per cent). During the quarter, the company launched eight new products in emerging markets. In the first nine months, emerging markets grew 23 per cent with sale of Rs. 599 crore. Africa contributed Rs 314 crore. (growth of 20 per cent), Asia Rs 275 crore (growth of 28 per cent) and Latin America Rs 10 crore (de-growth of two per cent).
Ajanta Pharma announced that its Board of Directors has approved sub-division of nominal value of equity shares of the company from Rs 5 each to nominal value of Rs 2 each. With the proposed sub division, number of shares of the company will increase from 3,51,77,400 of Rs 5 each to 8,79,43,500 of the company will remain at Rs 17.58 crore.
Consequential amendment to the Memorandum of Association and Articles of Association, subject to approval of members of the company to be taken by postal ballot.
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