Aanjaneya Lifecare Posts Robust Growth, net up by 75% in Q3, Inches Close To Acquisition
Aanjaneya Lifecare Posts Robust Growth, net up by 75% in Q3, Inches Close To Acquisition
Sets Out To Reach An Ambitious Plan To Reach 500 Crore By 2014
Maharastra , Mumbai, Tuesday 31st Jan 2012 : Mumbai based Mid Sized Indian Pharma major Aanjaneya Lifecare Limited is charting out its expansion plan p0st the robust performance of quarter ended December 31, 2011 with sales zooming to1075 million for the quarter ended December 31, 2011; YoY growth over Q3 FY 2011 of 62% & PAT is Rs.121 million for the quarter ended December 31, 2011; YoY growth of 75% with the overall Results for the 9 months ended December 31, 2011 & the Sales are Rs.3188 million for the 9 months ended December 31, 2011; YoY growth over 9MFY2011 of 44% & PAT is Rs. 357 million for the 9 months ended December 31, 2011; YoY growth of 58%. The Mumbai-based pharma company is engaged in the manufacture of anti-malarial active pharmaceutical ingredients (APIs) and herbal medicines, inhalers, lozenges and animal health products. The company is the world’s third-largest manufacturer of quinine salts used in the treatment of malaria. It is also one of the country’s largest contract manufacturers of codeinebased cough syrups. The money ( Rs 117 crore) raised by the company through its IPO is being used to build new capacities and for the revamp of its R&D centre. With new capacities to be added in the next 6-9 months, the company aims to expand its operations in the emerging markets of South East Asia, Africa & South & Central America, It also plans to grow its domestic operations in the branded generics segment. The company has a market capitalisation of Rs 612 crore. Aanjaneya Lifecare, a Rs.320 crore plus Mumbai based pharma company, has posted strong financial performance during the third quarter ended December 2011. Its net profit surged by 74.9 per cent to Rs.12.14 crore from Rs.6.94 crore in the corresponding period of last year. Its EBDITA also jumped by 88 per cent to Rs.33.94 crore from Rs.18.05 crore. Its net sale went up by 62.5 per cent to Rs.107.57 crore during the quarter under review from Rs.66.21 crore in the similar period of last year. After the announcement of strong performance, Aanjaneya scrip moved up by Rs.14.95 or over 3 per cent to Rs.503.50 on BSE.
The above background is a clear indication to show that Aanjaneya Lifecare is al set to expand its business both domestic as well as international market. A close scrutiny of Company’s growth record wll reveal that from a modest beginning in the year 2006 till date ( since last 5 years), it has made remarkable growth defying all odds & marching ahead with its growth strategy. Its Visionary Vice-Chairman & Managing Director Dr Kannan Vishwanath who will turn 36 this year is leaving no stones unturned to make a formidable presence in the 68,000 crore Indian pharma market. Aanjaneya Lifecare stunned the biggies in the healthcare sector in the year 2011 by raising Rs 117 crore) raised by the company through its IPO at a time when many analysts viewed as a gambling, however, Dr Kannan proved to the point & lived up to the expectations to its stakeholders. We all know that pharmaceutical business in india is very risky yet lucrative if managed well, Dr Kannan just understood the pulse of the market & launched products that will give high margins. The coming days will be a real testing time as how the Company is poised to take its growth drive & fuel the success mantras.
In an exclusive interview to satya Brahma, Editor-In-Chief of Pharmaleaders & Indian Affairs magazine ( www.pharmaleaders.co.in www.indianaffairs.in , beaming Dr Kannan Vishwanath was quite emphatic when asked about his gameplan & success mantra as he says “ In Healthcare Business, Aanjaneya Lifecare was always focused to what it wanted to do no matter how risky & zigzags the roads are..I am quite optimist that backed by a battery of strong professionals within the company, we are here to mark our mark & provide molecules at an affordable rates. He went out to say that Aanjaneya Lifecare will soon make its foray into some of the biggest markets in the world & reach a magic figure of 500 Crore by the turn of 2014”. He however declined to make any comments on the acquisition front. But sources close to Pharma Leaders reveal that indeed Aanjaneya Lifecare is very close to acquire a domestic pharma company to widen its product basket. The deal could be the game changer for Aanjaneya Lifecare as I will add extra products & market presence”. Although the magnitude of the acquisition is not known despite many attempts to ask the company, but it could well within be 40 to 50 Crore if sources to the Pharmaleaders are to be believed.
For the first nine months of 2011-12, Aanjaneya recorded sales growth of 44 per cent to Rs.318.81 crore as against Rs.221.46 crore and its net profit increased by 58.3 per cent to Rs.35.79 crore from Rs.22.61 crore. EBDITA touched to Rs.88.55 crore from Rs.52.99 crore, registering a growth of 67.1 per cent. The earnings per share worked out to Rs.30.91 on an enlarged equity capital at Rs.12.58 as against Rs.29.70 on an old equity capital of Rs.7.58 crore. 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. Commenting on the financial performance of the Company Dr. Kannan Vishwanath, Vice Chairman and Managing Director of Aanjaneya Lifecare Ltd said,”We are very pleased with our financial results as our company is growing and will continue doing the same in future. The company’s business growth startegy has resulted in the over all good performance which can be seen in the performance for the quarter ended December 31, 2011. The company has performed excellent and it assures the sharesholders that the company will continue performing good in future too”.
