Sun Pharmaceutical Industries Ltd announced the third quarter results with PAT increased 20.4 per cent to Rs 55.9 crore (Q3-01/02 Rs 46.4 crore) and turnover increased 10.7 per cent to Rs 217.9 crore (Q3-01/02Rs 196.8 crore). Domestic formulation sale for the quarter was up 18.5 per cent to Rs142.5 crore (Q3-01/02 Rs 120.3 crore). Export formulations increased 77.8 per cent to Rs 11 crore this December. EPS for the quarter was up by 20.6 per cent to Rs 11.9 (last year similar quarter Rs 9.9).
For the nine months ending 31st December 2002, PAT increased 16.2 per cent to Rs157.2 crore (nine months 01/02 Rs 135.3 crore) and turnover increased 11.5 per cent to Rs 624.6 crore (nine months 01/02 Rs 560.2 crore). Domestic formulation sales was up 15.8 per cent to Rs. 414.5 crore (nine months 01/02 Rs 358.2 crore). Export formulation sales was up 37.1 per cent to Rs. 27.7 crore (nine months 01/02 Rs 20.2 crore). EPS for the year to date is Rs33.6 as against Rs 28.6 last year.
The company, ranked 5th by domestic prescription product sales, has been consistently adding to market share from 2.78 per cent in November 2001 to 2.92 per cent in December 2002 (ORG Retail Chemist Audit, November 2001, December 2002).
The company won the most number of awards, 4 in all, among 21 participating companies at the IDMA Quality excellence awards for 2002. In the category of formulation units over Rs. 50 cr turnover, 3 awards were won,. The Ahmednagar bulk plant also won a gold medal in the bulk drug unit category, the only company to receive the gold medal.
During the course of the year, the Ankleshwar and Chennai plants received ISO9002 certification. The US FDA approved Ahmednagar bulk drug plant and the Europe approved Panoli site are already ISO 9002 approved. A Certificate Of Suitability for metformin was received during the course of the year and a DMF is expected during the course of the year.
Among the new products launched so far this year, the interesting ones were the asthma metered dose inhaler Fomtide (formoterol), the antipsychotic Qutipin (quetiapine), Surfact (surfactant for neonates), Rilutor (for movement disorder or amylotropic lateral sclerosis), Rivamer (for Alzeimers disease).
Analysis of data for December 2002MAT indicates that one of the Company's speciality products, Susten(progesterone) list among the 20 best performing new products launched in the last year.
Dilip Shanghvi, Chairman and Managing Director, "Having brought the international dosage form business on track, taking it forward from here in order to make most of the available opportunities, remains our first priority. The second is delivering on our commitments in research, with products in human trials by 04/05."