Parabolic Drugs, a vertically integrated API manufacturer and exporter in India, has registered net sales growth of 49.1 per cent during the year ended March 2012 to Rs.918.72 crore from Rs.616.02 crore in the previous year. However, its net profit declined marginally by 2.8 per cent to Rs.51.41 crore from Rs.52.87 crore due to significant higher interest burden, which increased by 57.7 per cent to Rs.64.28 crore from Rs.40.76 crore in the preceding year.
The company commissioned multi-purpose block 3 with 120 TPA capacity and spray dryer for augmenting Amorphous cephalosporin. It also commenced new sterile facility in March 2012 with fully automated international BADO machinery for world class quality and compliance. Parabolic Drugs' facilities are successfully completed from Japanese, Korean and European regulators.
The company has also commissioned Lalrlu facility to manufacturer lifestyle drugs and non-antibiotics with a pipeline of 17 new drugs. It entered into the domestic formulations space with 'Nucleus' brand consisting of almost 150 products. In CRAMS space, it executed 35 projects and now entering into the herbal nutraceutical space.
Vineet Gupta, director, said, “The fiscal year gone past has been a momentous one for the company not only in terms of revenue and profitability but also with respect to various development on the business front. FY'12 also marked our presence in Japan and new regulatory markets. We are confident that the investments that we have made this year will translate into significant growth opportunities for the company in the future.”
The company entered into capital market during 2010-11 with IPO of 266.67 lakh equity shares of Rs.10 each at a premium of Rs.65 per share aggregating to Rs.200 crore. Currently, the scrip is quoted in the range of Rs.23-25 on BSE.