Highlights
- For the year ended March’09, the net sales increased by 41% to Rs 3517.98 crore and net profit declined by 5% to Rs 283.18 crore.
- Pharma and Life Science Products & Services segment revenues went up by 30% to Rs 601.01 crore for the quarter and 52% to Rs 2323.70 crore for year.
- Industrial and performance products business grew by 5% to Rs 240.87 crore for quarter and 24% to Rs 1197.51 crore for year.
- The company has exercised the option of AS 11 as per the notification issued by Ministry of Corporate Affairs on March 31, 2009. Accordingly, the unrealized foreign currency gain of Rs 103 crore in FY’2008 and the unrealized loss of Rs 491.70 crore in FY’2009 on restatement of foreign currency borrowing including FCCBs were taken to the Balance Sheet.
- Total international revenues grew by 31% to Rs 580 crore quarter and 56% to Rs 2177 crore for FY’09.
- EO item of Rs 36.90 crore for Q4 FY’09 comprises of gain of Rs 59.10 crore on buyback of FCCBs of USD 60.90 million, Un realized loss of Rs 101.30 crore due to mark to market of forward covers taken on future exports and Profit of Rs 5.3 crore on sale of Fixed assets.
- During the year company has also written off intangible assets of worth Rs 11 crore.
- Total debt on books as on 31st March’09 is Rs 3878 crore. Of which FCCB debt is Rs 975 crore and normal debt is Rs 2903 crore.
- Cash & Cash equivalents on books as on 31st March’2009 is around Rs 620 crore (Deposits with banks Rs 382 crore and investment in mutual funds of Rs 238 crore)
- Debt to Equity as on 31st March’09 is 2.6
- Average interest rate of the debt is less than 5%.
- Company has increased debt Rs 1770 crore in the year under review due to acquisition of Draxis.
- Draxis revenues for the year (only 10months) stood at Rs 315 crore and net profit clocked at Rs 68 crore. Expects to grow by 20% in FY’10
- Interest expenses for FY’10 would be around Rs 160 crore.
- Holiester topline grew by 31% to Rs 378 crore for FY’09 and EBIDTA margins are at 27%.
- Jubilant need to repay Rs 330 crore in FY’10.
- Company has incurred Capex of Rs 544 crore in FY’09 and expects to incur Rs 250 crore for FY’10.
- Company has filed 10 DMFs in FY’09 and expects to file 8-10 DMFs in FY’10.
- Company filed 7 ANDAs and 8 dossiers during the FY’09.
- Expect to file 8-10 ANDA/Dossiers FY’10
- Company received to final approval for Sestamibi (generic version of Cardiolite) from Canada and expects to get approval from US FDA in a weak time.
- CRAMS business grew by 25% to Rs 501crore for the quarter and 50% to 1963 crore for year.
- Order book backlog position in CRAMS and DDDS as of March 31st 2009 is USD 750 million.
- In Exclusive synthesis, 22 molecules are in different stages of development: Pre-clinical-2, Phase I-6, Phase-II – 7, Phase III-7 products and launched 2.
- In CMO segment 11 molecules are in different stages of development: Phase I-4, Phase-II – 3 and Phase III-4 and launched 15.
- Tax rate for FY’10 would be around 16% on consolidated basis and 18% on standalone basis.
- Company has hedged USD 250 million net exposures at Rs 47.80 per dollar.
- Expects PLSPS to grow by 17% and IPP to up by 11% for FY’10
- Expects revenues to grow by 15% for FY’10.