AJANTA PHARMA
The pharmaceutical formulation company, for Q1FY15, posted a good set of numbers. YoY, the numbers look very good though sequentially, there has been a fall. For the quarter, net sales came in at Rs.281 crore, up 31% (YoY) though down 7% (QoQ). Net profit was at Rs.59 crore, up by a whopping 84% (YoY) though down 16% sequentially. The good news is that exports contributed to 56% of the revenue earned this quarter.
In terms of break up of business, India was up 24% (YoY) though institution sales showed a de-growth of 37%. It showed a 35% growth in dermatology, 42% in Cardiology and 25% in Opthalmology. It launched 9 new products during the quarter, out of which 5 were first to market. In Emerging markets, growth was led by Africa, showing a growth of 42%, Asia grew 26% while Latin America showed a de-growth of 8%. In USA, company has re-launched its first product through its own front end team and is expecting 2-3 more approvals this fiscal. It has filed for 2 more ANDAs with US FDA during Q1, taking the total tally to 25 ANDAs of which 2 are approved and rest waiting.
As at 30th June 2014, promoter’s stake was at 73.55%, of which 5.59% is pledged. FIIs hold 7.9% while DIIs hold a miniscule 0.84%.