Aurobindo Pharma, a Rs.4,380 crore plus pharma major from Hyderabad, has managed to maintain its profit level at Rs.563.45 crore during the year ended March 2011as against Rs.563.08 crore in the previous year. The lower gain from foreign exchange as compared to last year and higher staff cost as well as depreciation put pressure on net profit growth. Its consolidated net sales went up by 22.6 per cent to Rs.4,381 crore from Rs 3,575 crore in the previous year. Its EPS declined to Rs.19.57 from Rs.20.81. The company sub-divided its Rs.5 each equity share into five shares of Re. 1 each during February 2011.
The management recommended final equity dividend of 100 per cent for the year 2010-11, making a total dividend of 200 per cent for the year 2010-11. Earlier, it declared interim dividend of 100 per cent (Rs.5 per share) in November 2010.
Though its interest burden reduced by 7.9 per cent to Rs.62.47 crore from Rs.67.79 crore, its staff cost went up by 30.9 per cent to Rs.428.55 core from Rs.327.28 crore in the previous year. Net foreign exchange gain amounted to Rs.47.54 crore as against Rs.107.26 crore. Its other income also declined to Rs.25.19 core from Rs.38.94 crore. EBDITA moved up by 14.3 per cent to Rs.984.95 core from Rs.862.12 crore. The company has shown exceptional loss of Rs.10.34 crore which relates to loss on sale of subsidiaries and joint ventures as against gain of Rs.2.19 crore on buy back of FCCBs in the previous year.
Aurobindo's exports on FOB basis increased to Rs.2,697 crore from Rs.2,086 crore in the previous year, a growth of 29.3 per cent. Its consolidated net sales includes dossier income of Rs.255.62 crore as compared to Rs.197.74 crore. Formulations sales increased by 30.8 per cent to Rs.2,423 crore from Rs.1,852 crore and these sales constitute 57.3 per cent of gross sales.
Aurobindo filed 37 ANDAs in USA during 2010-11 and its cumulative filings reached at 209 products. It received 134 ANDAs approvals up to the end of 2010-11. It received 21 new approvals in the year under review. The company filed 227 dossier in Europe and cumulative filings reached at 991 dossiers. Its sales in US increased by 30.4 per cent to Rs.1,190 crore from Rs.912 crore and that in Europe and rest of the world moved up by 21.5 per cent to Rs.540 crore from Rs.444 crore.
Ramprasad Reddy, chairman said, “Aurobindo is pleased to join the Billion Dollar Club of Indian Pharmaceuticals fraternity through its commitment to the customers and quality with stronger business and delivery capabilities. We continue to augment our formulations and API business and create value for our stakeholders.”
The company has sold its entire stake in Cephazone Pharma LLC, a joint venture of one of its overseas subsidiaries in USA. Further, it also entered into a definitive agreement to divest its 80.5 per cent stake in one of its 100 per cent subsidiaries namely Aurobindo Datong Bio Pharma Co Ltd (ADBPCL), China, effective November 30, 2010. Thus, the company's balance stake of 19.50 per cent in ADBPCL will be strategic in nature to ensure uninterrupted supply of raw materials at competitive prices.
As against the equity capital of Rs.29.11 crore, its reserves and surplus amounted to Rs.2415.72 crore as at the end of March 2011, a significant growth of 34.1 per cent. Its fixed assets, including capital work in progress increased by 7.1 per cent to Rs.2,442 crore from Rs.2,281 crore in the previous year.