Alembic Pharmaceuticals, a Rs.2,000 crore plus Vadodara based pharma major, has posted satisfactory financial performance during the fourth quarter ended March 2015. Its net profit improved by 14.8 per cent to Rs.70.33 crore from Rs.61.29 crore in the corresponding period of last year. Its net sales, however, improved by single digit at 8.3 per cent to Rs.502 crore from Rs.463 crore. EPS worked out to Rs.3.73 as against Rs.3.25 in the last period. The board of directors has recommended handsome equity dividend of 175 per cent for the year 2014-15.
Its Indian branded formulations business grew by 16 per cent to Rs.232 crore from Rs.199 crore and its specialty and acute segments improved by 22 per cent and 11 per cent respectively. International generic formulation business improved by 8 per cent to Rs.148 crore from Rs.137 crore.
The company filed two ANDAs and two DMFs during the quarter under review. The company completed US FDA audit of its formulation facility at Panelav and bio equivalence center successfully without any 483 observations.
For the full year ended March 2015, Alembic's net sales increased by 10.3 per cent to Rs.2,053 crore from Rs.1,861 crore in the previous year. Its net profit also improved by 19.9 per cent to Rs.282.93 crore from Rs.235.50 crore despite significant rise in employees' and marketing cost. Employees cost increased by 24.2 per cent to Rs.306.76 crore from Rs.247 crore and its marketing cost went up by 31 per cent to Rs.217.66 crore from Rs.166.18 crore. R&D expenditure increased modestly by 4.5 per cent to Rs.121.62 crore from Rs.116.43 crore. The company incurred CSR expenditure of Rs.3.10 crore during 2014-15.
Its sales of branded formulation in India increased by 15 per cent to Rs.981 crore from Rs.851 crore in the previous year. The specialty product sales improved by 21 per cent and acute segment registered growth of 9 per cent during 2014-15. Its international sales of generics improved by 11 per cent to Rs.519 crore as against Rs.468 crore. The total ANDA filed with US FDA reached at 68 and it received approval for one ANDA. It cumulative ANDA/NDA approvals moved up to 37 (including 4 tentative approvals). Similarly, cumulative filings of DMFs reached at 72.
The company appointed Pranav Amin and Shaunak Amin as joint managing directors.