Aurobindo Pharma, the third largest Indian pharma giant after Sun Pharmaceuticals and Lupin with net sales of Rs. 14,845 crore, has posted dismal performance during the fourth quarter ended March 2017. Its consolidated net profit declined by 4 per cent to Rs. 532 crore from Rs. 555 crore in the corresponding period of last year. EBIDTA drop by 15.6 per cent to Rs. 743 crore from Rs. 887 crore. Its consolidated net sales also declined by 2.5 per cent to Rs. 3,582 crore from Rs. 3,674 crore. With lower net profit, EPS declined to Rs. 9.10 from Rs. 9.49 in the last period.
The company declared second interim dividend of 125 per cent per equity share of Rs. 1. This in addition to the interim dividend of 125 per cent per share aggregating to 250 per cent i.e. Rs. 2.5 per share. Aurobindo scrip of Rs. 1 each, which touched to its yearly lowest level at Rs. 504 yesterday on BSE, opened at Rs. 506 today and then moved up to Rs. 560.50. The scrip reached at its peak level at Rs. 895 in October 2016.
For the full year ended March 2017, Aurobindo's consolidated net sales increased by 8.3 per cent to Rs. 14,845 crore from Rs. 13,710 crore in the previous year. Its net profit went up by 13.7 per cent to Rs. 2,302 crore from Rs. 2,025 crore. EBIDTA improved by 7.1 per cent to Rs. 3,488 crore from Rs. 3,258 crore. Its R&D expenditure reached a Rs. 543 crore and worked out to 3.6 per cent of revenue. EPS improved to Rs. 39.33 from Rs. 34.67.
N Govindaraja, managing director, said, “We have registered 8 per cent revenue growth in FY17 despite a challenging environment in select markets. We continue to invest in building a differentiated and speciality product portfolio, which will sustain the growth momentum for the future.”
Aurobindo's formulations business registered a growth of 9 per cent to Rs. 12,045 crore from Rs. 11,064 crore on account of healthy growth in the US and Emerging markets. Formulation sales accounted for 80 per cent of total revenues. Its US formulations sales increased by 12 per cent to Rs. 6,827 crore from Rs. 6,079 crore and accounted 45 per cent to the total revenues.
The company filed 31 ANDAs with US FDA including 19 in Oral and 12 in injecjtable & ophthalmic category. On a cumulative basis, the company filed 429 ANDAs with US FDA and received approvals for 314 ANDAs including 38 tentative approvals. The company started filing oncology ANDAs and also entered in biosimilars through acquisition of 4 molecules from TL Biopharmaceuticals AG.
Its sales in EU increased by 5 per cent to Rs. 3,277 crore from Rs. 3,130 crore in the previous year. The business accounted for 22 per cent of gross sales. The acquired Actavis business continue to witness profitability during the fourth quarter and the company has transferred manufacturing of 69 products from Europe to India. Agile Pharma B.V. Netherlands, a wholly owned step-down subsidiary of the company acquired 100 per cent stake in Portuguese pharmaceutical company – Generis Farmaceutica SA. The acquisition have been completed in April 2017. ARV sales, however, declined by 2 per cent to Rs. 1,185 crore from Rs. 1,209 crore.
Aurobindo's formulation sales in emerging markets improved by 17 per cent to Rs. 756 crore. The API business contributed 20 per cent to the total revenue and registered a growth of 5 per cent. To Rs. 3,042 crore. The strong growth in betalactum APIs led to overall API growth. It filed 220 DMFS and its API DMF/COS filings in other key regulated markets reached at 2,609.
Aurobindo pharma
.jpg)
