Suven Pharmaceuticals Ltd has made a turnover of Rs. 14.77 crore with a growth of 82% during the first quarter over the corresponding first quarter (first quarter of the previous year Rs. 8.11 crore). There is a significant growth in exports, which stood at Rs. 11.92 crore constituting 80% of the total turnover of this quarter. The profit before tax stood at Rs.2.62 crore which is at 30% growth over the previous year’s first quarter of Rs. 2 Crore. The PAT stood at Rs. 2.35 crore (Rs. 1.44 crore corresponding previous quarter).
The low growth in PBT even after a significant growth in turnover during this quarter will be attributed to the increase in R&D expenditure to the tune of Rs. 1.23 crore, which is imminent for sustained growth during the post GATT era of IPR regime.
During the previous year Suven has invested Rs. 15.50 crore towards R&D equipments, upgrading and modernizing of the existing facilities keeping in view of the ever changing global regulatory requirements. The Company also set up a full-fledged Research and Development center to focus in this direction which will facilitate Suven emerging as a leading player in the global pharma arena providing full spectrum of services from drug discovery through manufacturing.
Suven in its endeavour to continuously reward shareholders has recommended a dividend of 45% (Rs. 4.50 per share) in its board meeting.