Key Highlights
- The net sales for the quarter posted muted growth of 1% to Rs 157.59 crore and net profit declined by 51% to Rs 10.07 crore. The break up of the revenues as per segment as follows:- Women’s Healthcare- Rs 38.98 crore (up by 2%), Pain Management- Rs 18.60 crore (up by 1%), Neutraceuticals – Rs 9.36 crore (down by 18%), Anti-infective- Rs 10.73 crore (down by 2%) and Cardiac – Rs 5.83 crore (up by 15%).
- For the year ended March’09, the net sales increased by 11% to Rs 608.80 crore and net profit declined by 19% to Rs 55.69 crore. The revenue break up as follows- Women’s Healthcare- Rs 147.43 crore (up by 20%), Pain Management- Rs 73.15 crore (up by 2%), Neutraceuticals – Rs 47.43 crore (up by 3%), Anti-infective- Rs 48.51 crore (up by 14%) and Cardiac – Rs 22.74 crore (up by 21%).
- The debt on the books as on 31st March’09 is Rs 380 crore with average interest cost of around 13-14%.
- During the year, company has entered into a strategic alliance with Germany’s Chemische Fabrik Dr Weigert GmbH, Germany for infection control related to operating theatres, diagnostics, patient hygiene, patient handling and wound care.
- Shelcal CT is a combination of 1250 mg of Calcium Carbonate derived from Oyster shell and Calcitrol. The product was launched in April 2008 and has generated Rs 10 crore. The growth in Women’s Healthcare business was due to launch of the product.
- Revenues from domestic market increased by 8% to Rs 166.37 crore and international revenues declined by 51% to Rs 3.55 crore in the quarter under
- Women’s Healthcare continues to remain the lead value creator with winning brands Shelcal and Carnitor.
- During the year, R & D centre in Nerul has earned recognition from the Department of Scientific & Industrial Research, Ministry of Science & Technology.
- Shelcal group drugs of Calcium Supplement segment sales grew by 25% to Rs 98.20 crore for the year. The market share of the drug is 33%.
- Chymoral sales in the Pain Management stood at Rs 30.60 crore, an increase of 4% on yoy basis. The market share of the drug 86.1%.
- Other own formulation with more than Rs 10 crore sales are Carnitor, Formic and Eldervit.
- In-licensed products sales with more than Rs 10 crore are Carnitor, Somazine and Tiger Products.
- The Langa Road facility is expected to commission by end of September 2009.
- The Patalganga plant in Maharashtra has been upgraded in order to WHO guidelines.
- Company is expanding its production capacity at Selaqui unit which is currently running at 75% load following which, the plant will be in a position to address growing product demand for solid dosage in developing markets.
- The company’s Bulgarian operation’s were completed and expects revenues flow from this geography by Q1FY10.
- To concentrate on rural market, the company has formed new marketing team Elvista during the quarter. Around 240 sales force were added during the quarter under review. Current sales force stood at 2300.
- Effective tax rate for FY’10 would around 13%.
- Expects to launch 14 products in domestic market during FY’10 and earn Rs 15-20 crore on those new launches.
- Capex for FY’10 is Rs 40 crore.