Aanjaneya Lifecare, which entered in the capital market during May 2011, has posted strong growth in net profit during the first quarter ended June 2011 and its net profit jumped by 57.8 per cent Rs.11.28 crore from Rs.7.15 crore in the corresponding period of last year. The company's net sales also increased by 33.1 per cent to Rs.100.25 crore from Rs.75.30 crore. After considering the rise in equity capital, the earnings per share worked out to Rs.11.80 as against Rs.12.38 in the last period. After the announcement of strong performance, the Aanjaneya scrip touched to its 52-weeks highest level at Rs.486 today and closed at Rs.466 with gain of Rs.17.70 over the previous close.
The company has made an initial public offer of 50 lakh equity shares of Rs.10 each at a price of Rs.234 aggregating to Rs.117 crore in May 2011. So far, Aanjaneya has invested Rs.54.50 crore on new projects and the investment of Rs.47.47 crore is in progress as at the end of June 2011. The company is setting up anti cancer API facility, cGMP block for APIs and intermediate API block at Mahad with total investment of over Rs.50 crore. It is also expanding its R&D centre at Mahad and Pune with investment of Rs.19.08 crore and setting up of a quality control and quality assurance block at Mahad with investment of Rs.14.20 crore.
For the full year ended March 2011, the company recorded net sales of Rs.320 crore and earned a net profit of Rs 36 crore.