Cadila Healthcare, a Rs 2300 crore plus Ahmedabad based pharma giant, has posted better growth in bottom line as well as top line during the fourth quarter ended March 2008. Its consolidated net profit increased by 33.7 per cent to Rs 52 crore from Rs 38.9 crore in the corresponding period of last year. The net sales increased by 29.9 per cent to Rs 546.90 crore from Rs 421.10 crore. With smart gain in profitability, its earning per share for the quarter worked out to Rs 4.14 as against Rs 2.95. The Board of Directors has declared equity dividend of 90 per cent for the year 2007-08.
For the full year ended March 2008, Cadila's consolidated net profit increased by 10.2 per cent to Rs 257.60 crore from Rs 233.80 crore in the previous year. Its net sales increased to Rs 2266 crore from Rs 1785.50 crore, a growth of 26.9 per cent. The basic annual earning per share improved to Rs 20.50 from Rs 18.62 in the last period.
The top line growth was driven by 72 per cent growth in formulation exports, 13 per cent growth in domestic branded formulations business and 131 per cent growth in animal health business after acquisition of remaining 50 per cent stake in the JV with Sarabhai, which is now renamed as Zydus Animal Health Ltd.
The growth in exports was buoyed by 80 per cent growth in sales in the US markets and 55 per cent growth in the French generics business, which has, for the first time after acquisition, started contributing positively to the bottom line of the company and posted net profit of Rs 12.9 crore. The consumer business also grew by a healthy 26 per cent.
Strengthening its global operations, Zydus Cadila had made a foray in the 'branded generics' business in Brazil. The company acquired 100 per cent stake in Quimica e Farmaceutica Nikkho do Brasil Ltda (Nikkho), a mid-sized, privately held company in Brazil. Nikkho, with its high quality therapeutic products and strong equity with doctors adds value to the operations in Latin America and posted sales of over Rs 100 crore in 2007-08, which also spurred exports growth.
The company filed 18 ANDAs and 8 DMFs during the year taking the cumulative to 78 ANDA filings and 59 DMFs. It has so far received 34 ANDA approvals. The company filed 17 dossiers for new products and 16 site transfer applications for the French market during 2007-08. With this the number of cumulative filings for new products is 40 and that for site transfer is 41.
The group's Global Contract Manufacturing Cell signed 7 more contracts during the year with a peak revenue potential of $ 9 million. With this, the cumulative number of contracts signed stands at 29 with a peak revenue potential of $ 43 million.