Biocon Ltd, a fully integrated biotechnology enterprise specializing in biopharmaceuticals, custom research, clinical research and enzymes, has achieved impressive performance during the year ended March 2004. Its consolidated net profit has taken a quantum jump of 219 per cent and touched to Rs 138.60 crore from Rs 43.50 crore in the previous year. The company's consolidated sales also moved up sharply by 94 per cent to Rs 549.30 crore from Rs 283.30 crore. Its exports in the US and European markets went up by 151 per cent as compared to 48 per cent in the preceding year.
The board of directors recommended equity dividend of 20 per cent (Re 1 per share). The equity capital stood at Rs 50 crore (face value of Rs 5 each) after recently concluded company's IPO.
The revenues from the biopharmaceuticals business improved by 117 per cent to Rs 435.40 crore from Rs 200.70 crore, contributing 79 per cent to operating revenues during the year ended March 2004 compared to 71 per cent in the previous year. In the case of statins the revenues increased by 153 per cent to Rs 302.80 crore from Rs 119.90 crore. Revenues from custom and clinical research are higher by 40 per cent to Rs 38.80 crore from Rs 27.70 crore.
The company's chairman & managing director Kiran Mazumdar-Shaw said ''All our key businesses, namely statins, enzymes and research services demonstrated exceptional growth. The numbers reported reflect the success of strategic capital investments made two years ago. We expect our current expansion programme to deliver substantial growth in the near future.''
She pointed out that "Our R&D programme is creating a pipeline of products and technologies that is rapidly transforming Biocon into a discovery-led enterprise. Our outlook for the year ahead is very positive. We expect substantial growth to be delivered by sales of Pravastatin to Europe and from our new products including Insulin, Immunosuppressants and branded formulations. Research services will also be a key growth driver."