Ind-Swift Laboratories, a Chandigarh based Rs.1,000 crore plus pharma entity, has posted modest growth in top line and bottom line during the third quarter ended December 2011. Its net profit improved by 15.5 per cent to Rs.28.44 crore from Rs.24.62 crore in the similar period of last year. Its net sales also improved by 15.7 per cent to Rs.358.80 crore from Rs.310.11 crore. The earnings per share worked out to Rs.8.06 as against Rs.8.34 in the last period as the company's equity capital increased to Rs.36.38 crore from Rs.29.50 crore. EBDITA improved by 22.5 per cent to Rs.63.88 crore from Rs.52.17 crore.
The company's exports during the quarter under review saw a jump of 75 per cent over the previous quarter ended September 2011. The exports rose from Rs.102.61 crore in September 2011 to Rs.176.55 crore in December 2011. The company got the KFDA (Korean FDA) approval and PMDA (Pharmaceutical & Medical Devices Agency Japan) approval this year. It is already supplying commercial quantities of its key molecules to the highly regulated markets of USA & Japan.
For the first nine months period ended December 2011, its net sales increased by 35.2 per cent to Rs.978 crore from Rs.723 crore and its net profit moved up by 11.2 per cent to Rs.68.08 crore from Rs.61.22 crore in the same period of last year.
N R Munjal, vice-chairman cum managing director, said, “We are on the high-growth track. Our growth in profits is as per our expectations. Our growth plans for the last quarter of this year as well as over the next three-years are in place and we are confident that the company will continue to grow from strength to strength.”
Ind-Swift Labs, with a clear focus on positioning itself as a primary supplier of specialized APIs to regulated markets, hitherto focused on unregulated/soft regulated markets, It has undertaken various Globalization initiatives by entering in regulated market. With 19 FDA compliant plants and robust product basket of 40 molecules, it is well set to reap the rewards of its initiatives over the next few years, the time when over US$ 99 billion drugs goes off patent.
The company is now in agreement with global players for the supply of blockbuster drugs like clarithromycin, atorvastatin, fexofenadine, letrozole, anastrozole, rosuvastatin, pioglitazone, clopidogrel etc., to regulated markets on patent expiry.