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Ajanta Pharma net surges by 20% in Q4, share at 300% for 2014-15

 

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Ajanta Pharma posted satisfactory financial performance for the fourth quarter ended March 2015 and its standalone net profit increased by 20.3 per cent to Rs. 84.31 crore from Rs. 70.09 crore in the corresponding period of last year. EBIDTA increased by 22 per cent to Rs. 140.72 crore from Rs. 115.36 crore. Its net sales rise up by 19.7 per cent to Rs. 360.36 crore from Rs. 301.14 crore. Export is 67 per cent of the revenue for the quarter. R&D expenditure increased to Rs. 24 crore from Rs. 11 crore in the similar period of last year. The board of directors has approved equity share of 300 per cent for the year 2014-15.

Ajanta scrip reduced sharply by over 4.7 per cent. Equity shares of the face value of Rs. 5 each has been split into the equity shares of the face value of Rs 2 each during the quarter. The scrip declined by over Rs. 65 to Rs. 1275 in the afternoon session.Its standalone net sales improved by 23 per cent to Rs. 1,329 crore from Rs. 1,080 crore in the previous year. Its standalone net profit went up by 38.7 per cent to Rs. 306.37 crore from Rs. 220.86 crore.

Its R&D expenditure increased to Rs. 70 crore from Rs. 50 crore in the previous year.  Ajanta's sales increased by 25 per cent to Rs. 480 crore. Its Indian business showed a growth of 31 per cent to Rs. 418 crore. Its institutional sales declined by 7 per cent to Rs. 62 crore. Its sales in emerging market increased by 22 per cent to Rs. 845 crore and that in Africa improved by 23 per cent to Rs. 451 crore. Its Asia sales improved by 23 per cent to Rs. 383 crore. However, its sales in Latin America fall by 20 per cent to Rs. 20 crore. It continues to strengthen its brand presence in various emerging markets. Ajanta has a pipeline of about 1,600 products under registration paving the way for sustained growth in these markets.

The company's domestic business improved by 20 per cent in fourth quarter ended March 2015. Out of this, Indian pharmaceutical sales improved by 26 per cent to Rs. 98 crore. Institution sales was Rs. 16 crore, a growth of 8 per cent. It launched 5 new products, out of which 2 were first to market. Emerging markets branded business grew by 19 per cent to Rs. 245 crore. Africa contributed Rs. 136 crore with a growth of 30 per cent. Its sales in Asia improved by 11 per cent to Rs. 107 crore during the quarter under review. Ajanta has 23 ANDA awaiting approval from US FDA, including 2 filings during the year 2014-15.  Its consolidated net sales for the year ended March 2015 increased by 23.3 per cent to Rs. 1,453 crore from Rs. 1,178 crore and its consolidated net profit went up by 32.5 per cent to Rs. 310 crore from Rs. 234 crore.


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