Dishman Pharmaceuticals and Chemicals, a Rs.1,265 crore plus Ahmedabad based pharma entity, has received setback during the fourth quarter ended March 2013 on account of lower sales and higher input costs on consolidated basis. Its consolidated net profit declined by 40.6 per cent to Rs.18.58 crore from Rs.31.29 crore in the corresponding period of last year. Its net sales also moved down marginally by 1.4 per cent to Rs.345.46 crore from Rs.350.19 crore.
The company declared equity dividend of 60 per cent i.e. Rs.1.20 per share of Rs.2 each for the year 2012-13. Meanwhile the Board has approved the appointment of whole time director Arpit J Vyas as managing director of the company with effect from May 28, 2013 for a further period of five years w.e.f. June 01, 2014.
For the full year ended March 2013, Dishman has posted strong consolidated net profit growth of 77 per cent to Rs.100.29 crore from Rs.56.76 crore in the previous year on account of higher other income and lower raw material cost. Its consolidated net sales increased by 13 per cent to Rs.1,268 crore from Rs.1,122 crore and other income by 37.2 per cent to Rs.17.78 crore from Rs.12.96 crore. The raw material cost declined slightly to Rs.376 core from Rs.384 crore. The sales from CRAMS improved by 13.5 per cent to Rs.813 crore from Rs.716 crore and that from others increased by 12 per cent to Rs.454 crore from Rs.406 crore.
As against the equity capital of Rs.16.13 crore, its reserves and surplus stood at Rs.1,026 crore as compared to Rs.914 crore in the previous year. Its total borrowings moved up to Rs.800 crore from Rs 746 crore. Its fixed assets declined marginally to Rs.1,427 crore from Rs.1,439 crore. However, Inventories climbed up by 26.7 per cent to Rs.338 crore from Rs.267 crore.
On standalone basis, Dishman's net sales for the year ended March 2013 improved by 4.8 per cent to Rs.483 core from Rs.461 crore and its net profit went up by 40.9 per cent to Rs.63.18 crore from Rs.44.84 crore in the previous year.