Ind-Swift Laboratories has posted impressive performance during the year ended March 2011 and its consolidated net profit has taken a quantum jump of 58.7 per cent to Rs.89.48 crore from Rs.56.39 crore in the previous year. The company's consolidated net sales crossed Rs.1000 crore mark and touched to Rs.1038 crore from Rs.783.94 crore, a strong growth of 32.4 per cent. Its EBDITA improved by 30 per cent to Rs.179.40 crore from Rs.138.04 crore. The earnings per share worked out to Rs.30.59 as against Rs.20.86 in the last year.
The board of directors has recommended equity dividend of 10 per cent for the year 2010-11.
While commenting on performance, N R Munjal, vie-chairman and managing director said, “The strong growth is due to product pipeline, successful accreditation of the company's manufacturing facilities by the Japanese and Korean regulatory authorities. The company's focus on exports to regulated and semi-regulated markets of US, Japan and Europe has also resulted in adding growth which saw a jump of 31.5 per cent from Rs.316 crore to Rs.416.30 crore in 2010-11.”
The company has undertaken various globalization initiatives by entering in regulated markets like US, Europe, Japan, Australia and Canada, registering its blockbuster products in various non-regulated and soft regulated countries filing DMFs, investing heavily in R&D, developing its IPR cell and upgrading manufacturing facilities with increased capacities to cater to the increased global demand for the company's products. With 19 US FDA compliant plants and a robust product basket of 40 molecules, it is well set to reap the rewards of its initiatives over the next few years.