Ajanta Pharma - Income from Operations up 11%, PAT up 5% in Q4 FY 2017

Ajanta Pharma Ltd. a specialty pharmaceutical formulation company reported today its performance for the 4th quarter and financial year ended 31st March 2017.

Mumbai, Maharashtra, May 10, 2017 /India PRwire/ -- Ajanta Pharma Ltd. a specialty pharmaceutical formulation company reported today its performance for the 4th quarter and financial year ended 31st March 2017.

Q4 FY 2017 performance highlights (Consolidated, as per Ind AS)

  • Income from operations grew 11% at Rs. 477 cr. against Rs. 431 cr.
  • EBITDA growth of 23% at Rs. 174 cr. against Rs. 142 cr., EBITDA at 36% of revenue.
  • Profit after tax grew 5% at Rs. 114 cr. against Rs. 109 cr., PAT at 24% of revenue.
  • Total comprehensive income grew 3% at Rs. 113 cr. against Rs. 110 cr.

Year ended FY 2017 performance highlights (Consolidated, as per Ind AS)

  • Income from operations grew 14% at Rs. 2,002 cr. against Rs. 1,749 cr.
  • EBITDA growth of 19% at Rs. 701 cr. against Rs. 587 cr., EBITDA at 35% of revenue.
  • Profit after tax grew 22% at Rs. 507 cr. against Rs. 416 cr., PAT at 25% of revenue.
  • Total comprehensive income grew 20% at Rs. 504 cr. against Rs. 421 cr.

Commenting on the results, Mr. Yogesh Agrawal, Managing Director said:

"Despite the demonetization impact on the Indian pharma market, our India branded generic sales showed resilient growth. Rupee appreciation impacted the export sales growth and the profitability for the quarter.

Overall, we posted satisfactory results for the FY 2017 with PAT growth of 22%. We move into next year with renewed vigour, resilience and focus, by crafting the strategies for consistent growth.

Our Guwahati facility (Phase 1) was implemented in record time and it commenced commercial production during the quarter. Our timely investment in world class manufacturing facilities ensure adequate capacities to meet the sales growth."

India

For Q4 FY 2017, India's branded generic sales (excluding institution) was Rs. 133 cr. posting growth of 13%. For FY 2017, it was Rs. 593 cr. posting healthy growth of 15%.

For Q4 FY 2017, Total India sales (including institution) was Rs. 140 cr., up 12%. For FY 2017, it was Rs. 614 cr., up 12%.

Exports

During Q4 FY 2017, Export sales were Rs. 317 cr., posting growth of 6%. Africa contributed Rs. 132 cr., de- growth of 24%, Asia contributed Rs. 137 cr., growth of 15% and US contributed Rs. 45 cr. growth of 838%.

For FY 2017, Exports sales grew 12% with sale of Rs. 1319 cr. Africa contributed Rs. 712 cr. (growth of 3%), Asia contributed Rs. 417 cr. (de-growth of 10%) and US contributed Rs. 185 cr. (growth of 1179%).

In US, we received 9 ANDA final approvals, commercialized 7 products and filed 8 ANDAs with US FDA during FY 2017. With this, company has 12 products commercialized out of 17 final ANDA approvals, has 2 tentative approvals and 15 ANDA awaiting approval with US FDA at the end of FY 2017. Company plans to file 12-15 ANDAs during FY 2018.

R&D

Company enhanced its R&D spend to 8% of operating revenue both during Q4 & FY 2017. For Q4, R&D expenses were Rs. 39 cr. (Q4 FY 2016 Rs. 36 cr.), whereas for FY 2017, R&D expenses were Rs. 153 cr. (FY 2016 Rs. 106 cr.).

Safe Harbour Statement

Notes to Editor

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. 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 7 world class manufacturing facilities located in India and Mauritius.

For last 5 years, company has posted healthy performance with its consolidated total income growing at 21% CAGR and net profit at 46% CAGR.

For more details visit www.ajantapharma.com

For regular updates follow us on twitter- www.twitter.com/ajantapharmaltd

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