Alembic Pharmaceuticals, a Rs. 3,100 crore plus pharma major, has posted consolidated net profit of Rs. 94 crore during the fourth quarter ended March 2018 as against Rs. 93 crore in the corresponding period of last year mainly due to higher tax provision. Its revenues increased by 15.1 per cent to Rs. 853 crore from Rs. 741 crore. EPS worked out to Rs. 4.98 from Rs. 4.94 in the last period. Its international formulation business increased by 29 per cent to Rs. 352 crore. US generics sales grew by 45 per cent to Rs. 290 crore. The company received three observations from US FDA for its formulation facility at Panelav.
Pranava Amin, managing director, said, “I am happy to note that we grew the US generic business by 45 per cent during the quarter despite a challenging and dynamic business environment.”
The financial performance during the full year ended March 2018 remained under almost stagnant. Its net profit increased only by 2.5 per cent to Rs. 413 crore from Rs. 403 crore. Its net sales declined slightly to Rs. 3,130 crore from Rs. 3,135 crore in the previous year. R&D expenditure declined to Rs. 411 crore from Rs. 427 crore and worked out to 13 per cent of sales. It received 13 ANDA approvals including 4 tentative approvals during the year and its cumulative ANDA approvals reached at 70. Currently cumulative ANDA filings reached at 132 ANDAs.
Total formulation sales during the year declined to Rs. 2,480 crore from Rs. 2,491 crore and API sales improved to Rs. 651 crore from Rs. 643 crore in the previous year. Its domestic formulation business improved to Rs. 1,274 crore from Rs. 1,254 crore and its international formulations sales declined marginally to Rs. 1,206 crore from Rs. 1,237 crore. The US formulation sales remained stagnant at Rs. 920 crore during the year as against Rs. 919 crore in the previous year. The sales of formulation in ROW declined to Rs. 286 crore from Rs. 318 crore in the previous year.
As against the equity capital of Rs. 38 crore, its reserves & surplus increased to Rs. 2,182 crore from Rs. 1,865 crore in the previous year. The board of directors has declared handsome equity dividend of 200 per cent for the year 2017-18. Alembic scrip is moving around Rs. 480 on BSE.