Standalone Q4 Revenue Growth 19% & PAT Growth 20% Consolidated FY 2014-15 Revenue Growth 23% & PAT Growth 32%

Highlights of Q4 FY '15 standalone financial performance are: - Revenue from operations grew 19% at Rs. 369 cr. against Rs. 311 cr. - EBITDA growth of 25% at Rs. 141 cr. against Rs. 112 cr., EBITDA at 38% of revenue. - Profit before Tax (before exceptional item) grew 35% at Rs. 130 cr. against Rs. 97 cr. - Profit after exceptional items and tax grew 20% at Rs. 84 cr. against Rs. 70 cr., PAT at 23% of revenue. - Exports contributed 67% of the revenue for the quarter

Mumbai, Maharashtra, May 8, 2015 /India PRwire/ -- Standalone Q4 Revenue Growth 19% & PAT Growth 20%

Consolidated FY 2014-15 Revenue Growth 23% & PAT Growth 32% (Proposes dividend of Rs. 6 per equity share on face value of Rs. 2 each)

Ajanta Pharma Limited, a specialty focused pharmaceutical formulation company reported today its performance for the 4th quarter and Year ended 31st March 2015.

Highlights of Q4 FY '15 standalone financial performance are:

  • Revenue from operations grew 19% at Rs. 369 cr. against Rs. 311 cr.
  • EBITDA growth of 25% at Rs. 141 cr. against Rs. 112 cr., EBITDA at 38% of revenue.
  • Profit before Tax (before exceptional item) grew 35% at Rs. 130 cr. against Rs. 97 cr.
  • Profit after exceptional items and tax grew 20% at Rs. 84 cr. against Rs. 70 cr., PAT at 23% of revenue.
  • Exports contributed 67% of the revenue for the quarter.

Highlights of 12 months standalone financial performance are:

  • Revenue from operations grew 22% at Rs. 1,356 cr. against Rs. 1,110 cr.
  • EBITDA growth of 37% at Rs. 473 cr. against Rs. 346 cr., EBITDA at 35% of revenue.
  • Profit before Tax (before exceptional item) grew 44% at Rs. 452 cr. against Rs. 313 cr.
  • Profit after exceptional items and tax grew 39% at Rs. 306 cr. against Rs. 221 cr., PAT at 23% of revenue.
  • Exports contributed 63% of the total operating income.

Highlights of 12 months consolidated financial performance are:

  • Revenue from operations grew 23% at Rs. 1,481 cr. against Rs. 1,208 cr.
  • EBITDA growth of 37% at Rs. 505 cr. against Rs. 369 cr., EBITDA at 34% of revenue.
  • Profit before Tax (before exceptional item) grew 41% at Rs. 464 cr. against Rs. 330 cr.
  • Profit after exceptional item and tax grew 32% at Rs. 310 cr. against Rs. 234 cr., PAT at 21% of revenue.
  • Exports contributed 66% of the total operating income.

Exceptional item

During this quarter, Company has provided for Rs. 6.95 crores in standalone results and Rs. 8.46 cr. in consolidated results as exception item - total investment made in Turkmendarman Ajanta Pharma Limited - being diminution in value of investment in Turkmenderman Ajanta Pharma Limited, an associate company.

Commenting on the results, Mr. Yogesh M. Agrawal, Managing Director said "All our businesses continue to perform in-line with our expectations. We remain committed and focused on existing geographies and therapeutic segments to drive above industry growth consistently. We continue to take proactive steps and make right investments in infrastructure - manufacturing and R&D - at the right time."

India Business: Accelerated Growth

For the 4th Quarter, overall India business was Rs. 114 cr., up 20% over Q4 last year. Out of this, Indian Pharmaceutical Market (IPM) business was Rs. 98 cr. posting healthy growth of 26% as against the industry growth of 12%. Institution sales was Rs. 16 cr., posting de-growth of 8% over previous year quarter. During the quarter, 5 new products were launched, out-of-which 2 were first to market.

For the twelve months, sales was Rs. 480 cr., up by 25% over same period last year. Out of this, Indian Pharmaceutical Market (IPM) business was Rs. 418 cr. posting healthy growth of 31% as against the industry growth of 12%. Institution sales was Rs. 62 cr., posting de-growth of 7% over previous year twelve months.

In the therapeutic segments where we operate, as per IMS MAT March '15, we have posted robust growth of 37% in Cardiology (segment growth of 10%), 31% in Opthalmology (segment growth of 19%), 11% in Dermatology (segment growth of 18%)and 27% in Pain Management (segment growth of 11%).

Emerging Markets: Gaining Grounds

Emerging markets branded business grew 19% during the quarter with sale of Rs. 245 cr. Africa contributed Rs. 136 cr. (growth of 30%), Asia Rs. 107 cr. (growth of 11%) and Latin America Rs. 2 cr. (de-growth of 54%). During the quarter, company launched 14 new products in emerging markets.

In the twelve months, emerging markets branded business grew 22% with sale of Rs. 845 cr. Africa contributed Rs. 451 cr. (growth of 23%), Asia Rs. 382 cr. (growth of 23%) and Latin America Rs. 12 cr. (de-growth of 20%).

Company continues to strengthen its brand presence in various emerging markets it operates in. Company has a pipeline of about 1,600 products under registration paving the way for sustained growth in these markets.

Regulated Markets: Awaiting ANDA Approvals

Company continues to gain market share for its maiden product launched in the US market during the year with sale of Rs. 4 cr. Currently Company has 23 ANDAs awaiting approval from US FDA, including 2 filings during the year.

R&D: Consistent Futuristic Investments

R&D expenses for the quarter were Rs. 24 cr. (against Rs. 11 cr. of corresponding qtr previous year), while for the twelve months it were Rs. 70 cr. (against Rs. 50 cr. of previous year). Ajanta continues to invest in its R&D infrastructure on continuous basis to meet the growing business needs.

About Ajanta Pharma Limited

Ajanta Pharma - a speciality pharmaceutical formulation company has a well-established branded generic business in India and emerging markets. In India, it has leading brands in therapeutic segments of Ophthalmology, Dermatology, Cardiology and Pain management. In emerging markets, Company has customised product basket with wider therapeutics presence. Many of company's products are first in the market place and are leading in their sub therapeutic segments.

The company is now building a portfolio of ANDAs for the regulated markets of USA and has recently entered this market with its maiden product.

Company's state of the art R&D centre for formulation development is located at Mumbai, having a team of 400+ people. Company has world class manufacturing facilities - 4 located in India and 1 at Mauritius. One of the manufacturing facilities in India is approved by US FDA, UK MHRA, pre-qualification from WHO, apart from having approval from FDAs of many other countries.

Implementation of our new formulation manufacturing facility (oral solids) at Dahej has been completed and is undergoing qualification. We expect to take regulatory filing batches from Q2 FY '16 onwards. Addition of this facility will ensure that we have adequate capacities to cater to our growths in coming years.

For last 5 years, company has posted healthy performance with its consolidated revenue showing a CAGR of 31% and net profit of 57%.

For more details visit www.ajantapharma.com

Notes to Editor

About Ajanta Pharma Limited

Ajanta Pharma - a speciality pharmaceutical formulation company has a well-established branded generic business in India and emerging markets. In India, it has leading brands in therapeutic segments of Ophthalmology, Dermatology, Cardiology and Pain management. In emerging markets, Company has customised product basket with wider therapeutics presence. Many of company's products are first in the market place and are leading in their sub therapeutic segments.

The company is now building a portfolio of ANDAs for the regulated markets of USA and has recently entered this market with its maiden product.

Company's state of the art R&D centre for formulation development is located at Mumbai, having a team of 400+ people. Company has world class manufacturing facilities - 4 located in India and 1 at Mauritius. One of the manufacturing facilities in India is approved by US FDA, UK MHRA, pre-qualification from WHO, apart from having approval from FDAs of many other countries.

Implementation of our new formulation manufacturing facility (oral solids) at Dahej has been completed and is undergoing qualification. We expect to take regulatory filing batches from Q2 FY '16 onwards. Addition of this facility will ensure that we have adequate capacities to cater to our growths in coming years.

For last 5 years, company has posted healthy performance with its consolidated revenue showing a CAGR of 31% and net profit of 57%.

For more details visit www.ajantapharma.com


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