This Ahmedabad based company is mainly a poultry and large animal vaccine maker with 93% of its total income in current Q1 coming from poultry vaccines and remaining from large animals. It ended Q1Fy17 with a 23% (YoY) rise in net sales at Rs.30 crore and net profit of Rs.6 crore, up 29%. Domestic sales grew by 21% while exports grew by 14%.

EBITDA was up 37% at Rs.11 crore and margins improved from 32.65% to 36.67%. Tax outgo for the quarter shot up over 200%. NPM also improved but marginally from19.01% to 19.91%. On an equity of Rs.8.51 crore, the company’s EPS is at Rs.7.05 (FV of Rs.10).

The main drivers for the improvement in the bottom line have been better inventory management, stricter credit controls and the shift in the product mix. Installation of a solar power generation project for 100KW has contributed towards reduction in energy costs up to Rs.3 lakh in first quarter. The sales in the poultry divisions grew by 19% while the Large Animal divisions have shown a growth of 41%. The company got the manufacturing license for 3 poultry vaccines during the quarter; with this company’s product portfolio has grown to 49 vaccines and 35 health products.