Net sales up 5% (YoY) at Rs.1906 crore but sequentially dropped 6%. The company posted a PBIT at Rs.390 crore, up 6% (YoY) but the interest outgo at Rs.18 crore and then the tax expense of Rs.104 crore, pushed down the net profit at Rs.267 crore, down 8% (YoY) and down 21% (QoQ). But the performance for FY13 as a whole looks good, with the company ending the fiscal with a 35% rise in consolidated net profit at Rs.1545 crore. The company also booked an exceptional income/profit of Rs.40 crore on sale of investment in Desano Holdings by its subsidiaries.

In terms of geographical breakup, 59% of the revenue came in from exports and 41% from its domestic operations and this was led largely by growth in anti-asthma, antibiotics/infectives and cardiovascular therapy segments. In terms of business mix, 90% came in from formulations and 10% from APIs. Export of formulations grew 11.5% in Q4 and API exports grew 24%. The good news is that its Indore factory has got the US FDA approval and hopefully this too will also start reflecting in its performance soon.  The company is surely moving fast to achieve its target of a topline of Rs.10,000 crore by 2015.