Piramal Healthcare, a leading custom manufacturing companies with a global footprint of assets across North America, Europe and Asia, has posted impressive performance during the year ended March 2010. It net profit after foreign exchange adjustments increased by 52.4 per cent to Rs 481.90 crore from Rs 316.25 crore in the previous year. With strong growth in profits, its earnings per share moved to Rs 23.4 from Rs 17.3 in the last year. The Board has declared equity dividend of 270 per cent per equity share of Rs 2 for the year 2009-10 as compared to 210 per cent in the last year.
The consolidate net sales increased by 11.9 per cent to Rs 3,671 crore from Rs 3,281 crore. During the year, Healthcare Solutions (domestic formulations) division reported strong growth of 24.6 per cent, with sales of Rs 200 crore. It has shown impressive growth anti-infective, dermatology, nutritionals and OTC segment. Its OTC business crossed Rs 100 crore mark and it strengthen this division by acquisition of i-pill brand from Cipla. The OTC business is poised for strong growth with a range of strong brands like Lacto Calamine, Superactiv, i-pill, Polycrol, Saridon and Itchmosol and a strong network of covering 2.20 lakh stores.
The company's pharma solutions (custom manufacturing) business recorded sales of Rs 880 crore during the year ended March 2010 as compared to Rs 1060 crore in the previous year as result of closure of its manufacturing facility at Huddersfield, UK. Pharma solutions revenues from facilities in India remained constant at Rs 380 billion compared t Rs 390 crore in the previous year. The critical care business continued it's strong growth trajectory. The revenues from Piramal Critical Care business touched to Rs 330 crore from Rs 130 crore in the last year. The integration of Minrad acquisition has been completed. Production at Bethleham facility has tripled in FY2010. It made significant inroads in Latin America, South East Asia and Africa for Sevoflurance. The company acquired Bharat Serum and Vaccine's injectible anesthetic portfolio to strengthen its critical care business.