Natco Pharma, a Rs.800 crore plus Hyderabad based pharma company, has posted consolidated net profit growth of 127 per cent during the fourth quarter ended March 2015 mainly due to adjustment regarding reversal of deferred tax expenses. The net profit went up to Rs.54.44 crore from Rs.24.02 crore as the company reversed deferred tax expenses of Rs.31.17 crore in the quarter under review. Net profit before tax adjustment declined marginally to Rs.23.27 crore from Rs.24.02 crore in the corresponding quarter of last year. Its EBIDTA improved by 11.5 per cent to Rs.52.66 crore from Rs.47.22 crore.
Its consolidated net sales improved by 9 per cent to Rs.190.57 crore from Rs.174.81 crore in the similar quarter of last year. Its formulations sales improved by 9.3 per cent to Rs.119.43 crore from Rs.109.31 crore and that of bulk chemicals moved up by 65 per cent to Rs.71.71 crore from Rs.43.44 crore.
The company's consolidated net sales for the full year ended March 2015 increased by 12.5 per cent to Rs.774.20 crore from Rs.688.44 crore in the previous year. Its sales of formulations went up by 9.9 per cent to Rs.425.24 crore from Rs.387.02 crore and that of bulk chemicals went up by 33.3 per cent to Rs.294.68 crore from Rs.221.01 crore.
The net profit increased by 31 per cent to Rs.134.61 crore from Rs.102.74 crore. It provided Rs.15.13 crore towards settlement of pending legal dispute during 2014-15. Its EBIDTA moved up by 16.4 per cent to Rs.228.28 crore from Rs.196.05 crore. Its employees cost increased by 21.4 per cent to Rs.136.92 crore from Rs.112.77 crore and depreciation provision went up by 55.2 per cent to Rs.47.26 crore from Rs.30.45 crore.
As against the equity capital of Rs.33.23 crore, its reserves & surplus amounted to Rs.812.82 crore, a growth of 17.3 per cent. EPS worked out to Rs.40.64 as against Rs.32.16 in the previous year..
The board of directors has approved increase of equity investment percentage in the company to 49% to Foreign Institutional Investors (FIIs)/Foreign Portfolio Investors. Further, issue of shares or convertible securities of any nature in the form of private placement, qualified institutional placement (QIP) to FIIs, qualified institutional buyers or any other investors etc. up to an amount of Rs.450 crore. The board also approved the merger of Natco Organics Ltd (100% subsidiary company) into Natco Pharma Ltd.