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Ajanta Pharma net zooms by 159% in Q4, dividend at 200%

Ajanta Pharma, a Mumbai based Rs. 1,100 crore plus pharma entity, has posted impressive performance during the fourth quarter ended March 2014 and its standalone net profit jumped by 158.7 per cent to Rs. 70.09 crore from Rs. 27.09 crore in the corresponding period of last year. Its EBDITA also moved up by 53 per cent to Rs. 115.36 crore from Rs. 75.35 crore. The company’s net sales increased by 20.8 per cent to Rs.  301.14 crore from Rs.249.21 crore.

After the announcement of financial working, Ajanta scrip moved up by Rs. 149.90 or over 15 per cent per cent in the morning session to Rs. 1127.55 on the BSE. The Board has declared a dividend of Rs. 10 per equity share Rs. 5 each.

For the full year ended March 2014, Ajant’s standalone net sales increased to Rs. 1,080 crore from Rs. 829 crore, a growth of 30.3 per cent. Its net profit increased by 119 per cent to Rs. 221 crore from Rs. 101 crore. EPS improved significantly to Rs. 62.83 from Rs. 28.78 in the previous year. Exports contributed 63 per cent of the total operating income. The sales of Indian formulations business improved to Rs. 385 crore against Rs. 292 crore in the same period of last year. It launched 24 new products.

Formulations sales in emerging market of Africa, CIS, West Asia and South-East Asia, increased by 29 per cent to Rs. 695 crore. The company continued to improve its ranking in different emerging markets and its brands are gaining further grounds. It has a basket of more than 1,400 brand registrations for these markets and another 1,400 plus brands are under registration to ensure continued growth.

Ajanta filed one more ANDA during the fourth quarter taking total tally to 23 ANDAs, with 2 approved and 21 awaiting approval. R&D expenditure reached at Rs. 50 crore during 2013-14 from Rs. 37 crore in the previous year. This worked out to 4.5 per cent of revenues.

Yogesh Agrawal, managing director, said, “We are pleased with the execution of our strategy during the year which is reflected in health results. All our geographies have performed inline with our expectations. Our India speciality business continues to post robust growth much above the industry growth. We continue to build branded generic business in select overseas markets and lay foundation for sustained growth in coming years.”

Its consolidated net sales increased by 18 per cent to Rs. 1,178 crore from Rs. 920 crore and its consolidated net profit moved up by 109 per cent to Rs.234 crore from Rs. 112 crore.

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