Bal Pharma Ltd, a Bangalore based pharma company, has posted marginal improvement in bottom line during the year ended March 2009 mainly due to the commercialization of its new finished formulation plant at Rudrapur, Uttaranchal with effect January 2009. Its net profit touched to Rs 2.99 crore as against Rs 2.86 crore in the previous year. The company's net sales, however, went up by 21.3 per cent to Rs 110.85 crore from Rs 91.36 crore. With marginal improvement in profits, its earning per share worked out to Rs 2.85 as compared to Rs 2.74 in the last period.

The board of directors has recommended a dividend of 7.5 per cent on its equity capital of Rs 10.48 crore. Its reserves and surplus reached at Rs 26.75 crore from Rs 24.59 crore in the last year.

Commenting on the results Shailesh Siroya, managing director, said that the company has crossed Rs 100 crore mark and now moving fast ahead. "Despite global economic recession the company managed to have satisfactory results. We are planning to be more aggressive and to achieve an impressive growth in the coming years. Our export contribution is close to 35 per cent of the total sales."

The company has been known for its anti diabetic and cardiac products in Indian market. Having a strong establishment in South India market, the company is looking for an aggressive growth from markets UP, North and Central India. With manpower of 400 representatives in the field, the plans are to touch a turnover of Rs 100 crore from its branded portfolio alone.