Aanjaneya Lifecare closes on its Acquisition Drive
Indian Healthcare Sector may soon see Acquisitions in SME sectors as partnership & collaboration will rule the markets. Aanjaneya may acquire a domestic formulation unit to fuel its growth engine.
Indian Healthcare Sector may soon see Acquisitions in SME sectors as partnership & collaboration will rule the markets. Aanjaneya may acquire a domestic formulation unit to fuel its growth engine.
Maharastra, Mumbai, Tuesday,15th November 2011. Mumbai Based Pharmaceutical Major Aanjaneya Lifecare (BSE code (533412), the largest Quinine producers in world is yet again on the news. Sources close to Pharmaleaders (www.pharmaleaders.co.in ) reveal that Aanjaneya Lifecare is on the final stage of negotiations with a domestic formulation unit to widen its product baskets. Market is abuzz as the news of Aanjaneya posted a rapid strides in its balance sheet with Results for the half year ended for the second quarter ended September 30, 2011, the revenue of the company rose by 39% to Rs 1109 million from Rs 799 million for the same period last year. With this, the total revenue during the first half rose by 36% to Rs 2112 million & the net Profit for the second quarter increased 46% to Rs123 million from Rs 84 million for the same quarter of the previous fiscal year. With this the net profit for the first half of the current fiscal shot up by 51% to Rs. 236 million as against Rs. 156 million for the corresponding period of last year.
If the statement by the Board Chairman Dr Kannan to be believed while addressing the AGM “Our Company has showed an impressive growth in the current year and we promise our investors and stakeholders that we will continue to do the same in future” is to be understood in the right context, one can clearly say that Aanjaneya with focus on anti-malarial, and finished dosage forms (FDFs), has zeroed on a domestic unit with presence in cough cold, pain management segment. It is quite evident as the company in last six months was looking at some established Brands into its product baskets. The size of the Acquisition & deal value & the acquiring company is believed to be kept in top secret as many attempts by Pharmaleaders to reach out the company failed & calls remain unanswered. The News, if to be believed in right context, though unconfirmed officially, could be a game changer for Aanjaneya Lifecare given the aggressive plans the company is looking at to expand.
The company recently raised about Rs. 117 crore from its IPO and the funds are being used to built new capacities alongwith the refurbishing of Research & Development centre. The new facilities being created as part of CAPEX are using eco friendly, recyclable material and will be rated by LEEDS once completed, company sources informed. The Facilities being established will comply with the latest European & US guidelines. With new capacities to be added in next 6 to 9 months the company will be expanding operations in emerging markets of South East Asia, Africa & South & Central America and its domestic operation in branded generics segment.
The Author is Editor-In-Chief of Pharmaleaders Magazine. He can be reached at satya.brahma@pharmaleaders.co.in
