Alembic Pharmaceuticals, a Rs.1,500 crore plus Vadodara based pharma major, has posted impressive growth in bottom line during the fourth quarter ended March 2013. Its consolidated net profit has taken quantum jump of 115 per cent and touched to Rs.43.65 crore from Rs.20.31 crore in corresponding period of last year. Its consolidated net sales increased by 10.5 per cent to Rs.377 crore from Rs.341 crore. Alembic scrip touched to its 52-weeks highest level at Rs.122 after the announcement of financial results. It launched Desvenlafaxine base extended release tablets in US and it commenced new facility partially.
The Board of Directors has declared equity dividend of 125 per cent (Rs.2.50 per share of face value of Rs.2 each) for the year ended March 2013.
For the full year ended March 2013, Alembic's consolidated net sales increased by 3.8 per cent to Rs.1,517 crore from Rs.1,462 crore in the previous year. Its domestic sales grew by 15.1 per cent to Rs.1,009 crore from Rs.877 crore. However, its exports declined by 12.5 per cent to Rs.517 crore from Rs.591 crore. Though its domestic API sales increased by 21 per cent to Rs.113 crore from Rs.94 crore, its international API sales declined by 15 per cent to Rs.237 crore from Rs.279 crore. Its domestic sales of formulations improved by 13 per cent to Rs.886 crore from Rs.783 crore, but formulations sales in international market declined by 22 per cent to Rs.44 crore from Rs.57 crore.
Its EBDITA moved up by 15.1 per cent to Rs.252 crore from Rs.219 crore and net profit by 30.3 per cent to Rs.465 crore from Rs.357 crore. As against the equity capital of Rs.37.7 crore, its reserves and surplus stood at Rs.466.24 crore as at the end of march 2013. The company filed 57 ANDA with US FDA and it received approval for 24 ANDAs. Further it filed 60 DMFs during 2013.
Alembic commenced its new formulations facilities partially operational and expects completion of project in first half of 2013-14 with enhance capacity of tablets/ capsules to 5 billion per annum. The company invested Rs.102 crore in capex in current year of which Rs.87 crore pertains to new formulation plant.