Category: Vadodara

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Alembic Pharma FY2019 net sales rises to 32%

Vadodara January 22nd, 2019

Alembic Pharmaceuticals Limited reported its financial results for the third quarter ending 31st December 2018.

Financial Highlights – Consolidated

·         Net Sales for the quarter up 21% to Rs 1018 crores from Rs. 840 crores.

·         Net Profit for the quarter up 25% to Rs 162 crores

·         Net sales for FY19 up 32% to Rs 3008 crores against Rs 2277 crores last year.

·         Net profit for FY19 up 47% to Rs 467 crores from Rs 317 Crores last year.

Mr. Pranav Amin, Managing Director, Alembic Pharmaceuticals Limited said “The growth in the quarter was attributed to a strong performance in the US and International business. Our Formulation as well as API Facilities were successfully approved by the US FDA during the quarter”.

Operational Highlights for the quarter

International Business

·         International Formulations grew 44% to Rs 448 crores for the quarter.

·         The US business grew by 42% to Rs 308 crores for the quarter

·         7  ANDA  approvals received during the quarter, 83 Cumulative ANDA approvals.

·         3 new products launched in the US market.

·         4 ANDA filings during the quarter, Cumulative ANDA filings at 147.

·         R&D spend at Rs 112 Crores for the quarter, 11% of Sales.

India Formulations Business

·         India formulations business for the quarter grew by 4% to Rs 365 crores as against Rs. 349 crores last year.

API Business

·         API Business for the quarter grew by 14% to Rs 205 Crores as against Rs 180 Crores last year.

Summary of Total Revenue is as under:   

(Rs in Crores)

Particulars
Q3 FY19
Q3 FY18
% Change
9M FY19
9M FY18
% Change
Formulation
USA

ROW

308

140
218

93
42%

50%
945

442
605

249
56%

77%
India                            

365
349
4%
1080
970
11%
API
205
180
14%
540
453
19%
Total
1018
840
21%
3008
2277
32%

                                         

The Profit break-up is as under:                              

(Rs in Crores)

Particulars
Q3 FY19
Q3 FY18
% Change
9M FY19
9M FY18
% Change
EBITDA Pre R&D
351
281
25%
1061
755
41%
EBITDA Pre R&D %
34%
34%
35%
33%
EBITDA Post R&D
245
188
31%
701
477
47%
EBITDA Post R&D %
24%
22%
23%
21%
Profit Before Tax
211
161
31%
603
400
51%
Net Profit after Tax
162
130
25%
467
317
47%
About Alembic Pharmaceuticals Limited

Alembic Pharmaceuticals Limited, a vertically integrated research and development pharmaceutical company, has been at the forefront of healthcare since 1907. Headquartered in India, Alembic is a publicly listed company that manufactures and markets generic pharmaceutical products all over the world. Alembic’s state of the art research and manufacturing facilities are approved by regulatory authorities of many developed countries including the US FDA. Alembic is one of the leaders in branded generics in India. Alembic’s brands, marketed through a marketing team of over 5000 are well recognized by doctors and patients.

Information about the company can be found at  www.alembicpharmaceuticals.com; (reuters:ALEM.NS) (bloomberg:ALPM) (nse:APLLTD) (bse:533573)

For more information contact:

Ajay Kumar Desai

Phone: +91 22 – 306 11681

Email: ajay.desai@alembic.co.in
Mitanshu Shah  

Phone: +91 265 – 3007630

Email: mitanshu.shah@alembic.co.in

For more information Contact
Maulikk Buch
Chief Publicist
REOPINION
99783389999

22.307158873.1812187
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INDIA TO SAVE ABOUT USD$ 400 MILLION IN VALUE OF IMPORTS SOON: DEEPAK MEHTA

Vadodara, August 06, 2018: Deepak Nitrite Limited (BSE: 506401, NSE: DEEPAKNTR, ISIN ID: INE288B01029), one of the leading manufacturer of chemical intermediates, having a wide product portfolio of Basic Chemicals (BC), Fine & Speciality Chemicals (FSC) & Performance Products (PP), has announced its financial results for the quarter ended June 30, 2018.

CMD’s Message

Commenting on the performance, Mr. Deepak C. Mehta, Chairman & Managing Director, said,

“I am pleased to share that we have begun Financial Year 2019 on an exuberant note with strong double-digit growth in Revenues, EBITDA and Profit After Tax. We have been able to successfully pass on rising input costs to customers and have managed to report higher volumes across export and local markets amidst rising oil prices. The focused initiatives to turnaround the Performance Products segment have also delivered and the effect of full integration of value chain (Toluene>PNT>DASDA>OBA) is now visible.

FY2019 is set to be a breakthrough year for us as we commission our ambitious mega-Greenfield project of Phenol and Acetone in Dahej in the current month. This will enable a quantum leap in revenues and profits for the Company in the initial stage and subsequently open up new verticals of growth towards value-added import substitutes. At full capacity, we anticipate that our plant will save the nation close to USD$ 400 million in value of imports saved.

In addition to this, our growth during the year will be driven by increase in capacities for select products, buildup of newly introduced product lines and recognising pockets of opportunity due to the shifts in the global supply chain. We are already witnessing escalation in enquiries for existing and new products and are geared up to capitalise on the multiple opportunities ahead.”

Financial Highlights

Q1 FY2019

  • Revenue (Net of Excise Duty) stood at Rs. 421.82 crore as compared to Rs. 316.85 crore (excluding Fire and loss of profit insurance claim of Rs. 22.5 crore) reported in Q1 FY18, resulting in robust growth of 33% yoy. All of the Strategic Business Units (SBUs) contributed positively to the topline performance. While Basic Chemicals witnessed improving demand and pricing for key products, Fine & Speciality Chemicals saw strong traction especially in export markets. The Performance products segment has also delivered an encouraging performance on the back of strategic initiatives implemented earlier.

  • EBITDA came in at Rs. 56.89 crore, higher by 66% as against to Rs. 34.17 crore (excluding Rs. 18.33 crore – Net of Expenses, due to insurance claim) reported in Q1 FY18. EBITDA margins improved by 270 basis points to 13.5%, as compared to 10.8% in Q1 FY18. Combination of higher contribution from all business segments, benefits of operating leverage and better product acceptance enabled the increase in EBITDA.

  • PBT stood at Rs. 33.36 crore in Q1 FY19, a growth of 170% over Rs. 12.38 crore in the same period last year.

However, the figures of Q1 FY18 may not be fully comparable as it had an impact of incident of fire at Roha.

  • PAT grew by 169% to Rs. 21.78 crore in Q1 FY19 as compared to Rs. 8.10 crore in Q1 FY18. Q1FY19 has been an excellent quarter wherein the Company has withstood challenging operating conditions to drive buoyancy in product volumes, witnessed initial success from strategic initiatives implemented and derived benefits from better  pricing and cost management all of which have combined to significantly enhance profitability.

  • EPS for Q1 FY19 stood at Rs. 1.60 per share (of face value of Rs. 2 each) on an enlarged capital base compared to Rs. 1.54 per share in Q1 FY18. (QIP: Issuance of 56,81,775 shares of Rs. 2 each at a price of Rs. 264 per share in January, 2018).

Performance Highlights

Domestic & Exports

  • Domestic revenues stood at Rs. 265.05 crore in Q1 FY19 from Rs. 214.95 crore in the same period last year, growing by 23% Y-o-Y. Environmental challenges and production disruptions in China led to volume gains for local customers boosting domestic revenues.

  • Revenues from exports came in at Rs. 153.82 crore in Q1 FY19 compared to Rs. 98.36 crore in Q1 FY18, higher by 56%. Export performance was driven by strong demand trends in key markets across all segments, currency tailwind and stabilisation of operations compared to the same quarter in the previous financial year.

Update on Phenol & Acetone Project

Progress:

All pre-commissioning activities have been concluded and the mega-greenfield project is on the verge of commissioning. The Leadership team and functional teams have been appointed and the marketing team has already commenced customer outreach program. The Construction work began in month of May, 2016 and in a record time of approx. 24 months construction work has been completed. Currently we are doing trial runs at the plant and even amidst the transporters’ strike, the plant is expected to be commissioned in the month of August, 2018.

On the Market front, when the project was announced, demand for Phenol in India was around 275,000 MT which has seen 8.5% growth and current demand is around 350,000 MT. Demand is expected to grow at around 10-12% p.a. Owing to the strong latent demand for phenol combined with reliability associated with local production, the Company has received highly encouraging response to its seed marketing programme.

Phenol demand is also growing globally, due to which, the demand-supply capacity is moving towards equilibrium, as downstream projects in China which commenced earlier during the current calendar year have led to greater captive consumption of Chinese Phenol capacity. Developments in the Chinese market have been accompanied with shutdown of a large global facility for production of Phenol in the US. These factors have resulted in firming up of overall prices of Phenol globally.

-ENDS-

About Deepak Nitrite Limited

Deepak Nitrite Limited [NSE – DEEPAKNTR, BSE – 506401] Headquartered at Vadodara, Gujarat, DNL is a multi-division and multi-product, chemical intermediate with manufacturing facilities at Nandesari & Dahej in Gujarat, Roha and Taloja in Maharashtra, and at Hyderabad; having product portfolio of Basic Chemicals (BC), Fine & Speciality Chemicals (FSC) & Performance Products (PP). Further, it is at final stages of commissioning of Phenol and Acetone production through its wholly owned subsidiary Deepak Phenolics. As a partner of choice for Domestic and Global Chemical majors, DNL is emerging as one of the fastest growing Company, adhering to Responsible Care.