Alembic Pharmaceuticals Q3FY14 Net Profit Up By 37% To Rs 65 crore
DSIJ Intelligence / 23 Jan 2014
Vadodara based Alembic Pharmaceuticals came out with strong set of numbers for the quarter ended December 2013. The topline of the company grew by 31% on YoY basis to stand at Rs 487 crore as against Rs 372 crore posted during the same quarter last year.
Vadodara based Alembic Pharmaceuticals came out with strong set of numbers for the quarter ended December 2013. The topline of the company grew by 31% on YoY basis to stand at Rs 487 crore as against Rs 372 crore posted during the same quarter last year.
Let us look at how the company has performed in the different segments in the said quarter. The India Branded formulations business (48% of revenue) posted sales of Rs 229.57 crores against Rs. 199.85 crores with a 15% growth over the corresponding quarter of the previous year. Specialty and Acute segments grew by 22% and -2% respectively in current years (MAT-Nov 13) as against the industry growth rate of 11% and 2% respectively.
The International Generic Formulation business (27% of revenues) grew by 112% and came in at Rs. 129.62 crores against Rs. 61.05 crores witnessed during Q3FY13. The international branded business (4% of revenues) and the API business (16% of revenues) also grew by 31% and 13% respectively for the quarter on YoY basis.
Coming to the operating profits, the company posted a stupendous growth in the EBITDA levels witnessing a growth of 47% on YoY basis for the quarter to stand at Rs 102.23 crore. The EBITDA margin came in at 21% for Q3FY14 as against 18.64% reported during the same quarter last fiscal. The EBITDA margins for the company expanded by 236 basis points.
The PAT also came in at a better level witnessing a growth of 36.67% on YoY basis to stand at Rs 65 crore for the recently concluded quarter. The PAT margins too improved by 51 basis points on YoY basis to stand at 13.58%.
In the concluded quarter the company filed 1 ANDA application taking cumulative ANDA filings of the Company to 60. It also received 1 ANDA approval received during the quarter. The cumulative ANDA approvals now stand at 31 of which 4 are tentative approvals. During the quarter 2 DMF applications were filed taking cumulative DMF filings of the Company to 64.
We believe the company is well placed to post better results going forward too and maintain a bullish stance on the stock.
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