Ankur Drugs and Pharma has achieved impressive financial performance during the year ended March 2007 and its net profit has taken a quantum jump of 100 per cent to Rs 27.97 crore from Rs 13.98 crore in the previous year. Its net sales also went up sharply by 102 per cent to Rs 276.27 crore from Rs 136.45 crore. The earning per share, after considering enhanced equity capital, worked out to Rs 29.39 as against Rs 14.72 in the last year.
The operating profit before interest, depreciation and taxation improved by 89.5 per cent to Rs 41.67 crore from Rs 21.99 crore. Despite interest burden was up by 103 per cent to Rs 8.27 crore, its profit before tax and prior period adjustments increased by 99.9 per cent to Rs 30.81 crore from Rs 15.41 crore.
The company has allotted 10.55 lakh equity shares of Rs 10 each @ Rs 174 per share to Grants Investments Ltd, Mauritius on conversion of 4000 foreign currency convertible bonds of US$ 1000 each during March 2007.
The Board of Directors has approved to allot 9.63 lakh equity shares to Kampani Finance Ltd, 1.80 lakh shares to Deutsche Securities Mauritius Ltd and 9 lakh shares to Blue Ridge Ltd. The company is also planning to issue FCCBs up to $ 20 million to part finance the Baddi expansion project.
Ankur Drugs has inducted Dr Clifton Zimmermann of Germany on the Board with effect from April 28.2007.
The company is merging Vaibhav Healthcare Pvt Ltd, which has achieved the turnover of Rs 101.25 crore and earned a net profit of Rs 7.90 crore for the year ended March 2007. The company expects to complete the merger formalities by end of August 2007.