Ankur Drugs and Pharma has successfully crossed important milestone of Rs 1,000 crore in sales during the year ended March 2010 and its net sales touched to Rs 1,068 crore from Rs 965 crore in the previous year, a growth of 10.6 per cent. The company's net profit after foreign exchange adjustments went up strongly by 141 per cent to Rs 89.43 crore from Rs 37.12 crore. The earnings per share worked out to Rs 46.24 as compared to Rs 19.94 in the last year.
The company has shown foreign exchange gain of Rs 16.23 crore for the year 2009-10 as against a loss of Rs 26.13 crore in the previous year. This has inflated its bottom line significantly. Its profit before interest, depreciation, taxation and foreign exchange adjustments improved by 17.9 per cent to Rs 214.84 crore from Rs 182.18 crore. Its interest burden went up sharply by 46 per cent to Rs 79 crore from Rs 54.10 crore in the previous year. The company provided Rs 3.20 crore for redemption of FCCBs as compared to Rs 20.94 crore in the previous year.
Ankur Drugs has commenced production of all the sections in the Baddi facility and are already approached by its existing partners, thereby targeting a good capacity utilization of these facilities. It has received necessary approvals from all regulatory authorities in respect of Fentanyl Patches (25mcg. & mcg per hour) and the product is under stability, barring unforeseen circumstances a firm tie-up for marketing is expected in early second quarter.
Ondensatorn Oral Strips has cleared initial stability studies and application for manufacturing license is pending with DCGI. Necessary clearances are expected by July 2010 and product will be launched immediately thereafter. Ax-Flu Decongestion patches have been successfully developed and market launch is expected in June/July 2010.