Jubilant Organosys has received a minor setback during the year ended March 2009 on account of provision for mark to market loss. Its consolidated net profit declined by 4.7 per cent to Rs 283 crore from Rs 297 crore in the previous year. The company incurred a foreign exchange loss of Rs 101 crore during 2008-09. The earning per share worked out to Rs 19.22 as against Rs 20.57 in last year. The management recommended equity dividend of 150 per cent for the year 2008-09.
The consolidated net sales moved up sharply by 41.3 per cent to Rs 3,518 crore from Rs 2,489 crore. Its pharmaceutical sales has taken a sharp jump of 52 per cent to Rs 2,324 crore from Rs 1,530 crore and contributed almost 66 per cent to its net sales as compared to 61 per cent in the last year. Its sales through CRAMS reached at Rs 1,963 crore. The sale of industrial & performance products increased by 25 per cent to Rs 1,194 crore from Rs 959 crore.
The company's domestic sales increased by 22 per cent to Rs 1,341 crore and sales through international operations went up by 56 per cent to Rs 2,177 crore. The sales in US jumped by 103 per cent to Rs 1,181 crore and that in European countries increased by 8 per cent to Rs 381 crore. Its sales in China, however, moved down by 4 per cent to Rs 290 crore.
Though net profit declined, its EBDIT moved up by 44 per cent to Rs 719 crore from Rs 500 crore. The interest burden increased by 218 per cent to Rs 107 crore from Rs 34 crore. However, its tax provision came down by 53 per cent to Rs 27 crore from Rs 57 crore.
The company expects a steady growth in EBDIT margins of 20 per cent in the current year with higher capacity utilization, expanded global customer reach, efficient supply chain management, initiatives for cost reduction and improved product mix. Jubilant is investing Rs 250 crore during 2009-10 in capex, which will mainly be in CRAMS.