Aanjaneya Lifecare, which entered capital market in 2011 and raised Rs.117 crore, has posted strong financial performance during the year ended March 2011 and net profit went up sharply by 139 per cent to Rs.36.01 crore from Rs.15.08 crore in the previous year. Its net sales also moved up by 98 per cent to Rs.320.26 crore from Rs.161.67 crore. The earnings per share worked out to Rs.52 as compared to Rs.30.34 in the last year. The company is the largest contract manufacturers of codeine based cough syrups in India. With announcement of strong bottom line, the scrip moved up by Rs.7.60 and closed at Rs.383.65 on BSE July 15.
Dr Kannan Vishwanath, chairman, said, “We are extremely pleased with our results, The results clearly demonstrate positive investments by Aanjaneya over the past years and in accordance with our vision to be a global leader in certain product categories. The growth will help us strengthen the confidence amongst all our stakeholders who invested in our company with a lot of trust and faith. We are confident that we will be able to capitalize on the opportunities lying ahead for Aanjaneya and further grow in this ever expanding pharmaceutical market.”
The company recently received the Certificate of Suitability from EDQM for two of its bulk drugs quinine sulphate and quinine hydrochloride thus opening a new gate for a huge market in Europe. The company has confirmed order book of Rs.60 crore from new clients such as Wockhardt, Cipla, Remedica, Tanzania Pharmaceutical Ltd, Activo SA and Pharmed Europe Ltd to be executed within next two months.
Aanjaneya's state-of-the-art, WHO-GMP approved facilities for manufacturing bulk drugs is located at Mahad and finished dosage forms at Pirungut near Pune. It exclusively manufactures the Codorex Brand of Zydus Cadilla and Codilite Brand of Tablets India Ltd, amongst other. The company raised funds through IPO to built new capacities alongwith refurbishing of research and development centre. With new capacities to be added in next 6 to 9 months the company will be expanding operations in emerging markets of South East Asia, Africa & South & Central America and its domestic operation in banded generics segment.