Jubilant Life Sciences (JLSL), formerly known as Jubilant Organosys, has received setback during the year ended March 2011 and its consolidated net profit declined by 45.5 per cent to Rs.230 crore from Rs.421.46 crore in the previous year. The consolidated net sales also declined by 9.4 per cent to Rs.3,433 crore from Rs.3,791 crore. The earnings per share nosedived to Rs.14.42 from Rs.28.56 in the last year. Its profit before interest and exceptional item moved down by 44.8 per cent to Rs.387.07 crore from Rs.701.27 crore in the previous year. The company declared equity dividend of 200 per cent for the year 2010-11.


The company implemented the scheme of amalgamation and demerger among Jubilant Life Sciences, Specialty Molecules Ltd, Pace marketing Specialties Ltd and Jubilant Industries (formerly Hitech Shiksha Ltd) during November 2010 and was effective from April 1, 2010. Thus the figures are not strictly comparable. Post demerger of Agri and performance Polymer business, JLSL has only pharmaceutical segment.


Revenues for Life Science products reached at Rs.2,685 crore and contributed 78 per cent to the total revenue. It grew by 9 per cent in the year with good volume growth of over 15 per cent across products. Life Sciences ingredients share in revenue was up at 65 per cent and generics contributed 13 per cent to the top line. This growth is mainly driven by 19 per cent growth in API and 18 per cent growth in generics. Services revenue stood at Rs.749 crore compared to Rs.919 crore in the last year.


During the year 2010-11, JLSL filled 15 DMFs in the US and 2 EDMFs in EU. It received approval for 2 ANDAs and 6 EU dossier.


Shyam S Bhartia, chairman and managing director and Hari S Bhartia, co-chairman and managing director, said, “In financial year 2011 the company has recorded a good revenue growth in products business driven by a robust volume growth of 16 per cent across the products. However, the growth in Service business is muted due to one-time revenue opportunity in previous year and slowdown in Clinical Research business. In FY2012, we expect to deliver a robust sales growth and better margins across all the businesses on account of increased capacity utilisation, commissioning of new plants, innovation led new launches and expansion of market geographies.”