Torrent Pharma's net dips by 46.7% in...
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May
20
ragupathyrenganathan
Torrent Pharma’s net dips by 46.7% in Q4, total dividend at 225%
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Torrent Pharmaceuticals, a Rs.4,575 crore plus Ahmedabad based pharma major, has suffered heavy setback during the fourth quarter ended March 2015 and its consolidated net profit declined sharply by 46.7 per cent to Rs.130 crore from Rs.244 crore in the corresponding period of last year. Its net sales also declined by 5.8 per cent to Rs.1,154 crore from Rs.1,225 crore. With lower net profit, its EPS declined to Rs.7.70 from Rs.14.44.

The board of directors has recommended total equity dividend of 225 per cent i.e. Rs.11.25 per share of Rs.5 each for the year 2014-15.

Its domestic formulation business increased by 55 per cent to Rs.396 crore, which includes sales from acquired Elder business. Its sales in US declined by 44 per cent. Its operations in Brazil registered revenue growth of 10 per cent

For the full year ended March 2015, Torrent Pharma’s consolidated net sales improved by 13.6 per cent to Rs.4,585 crore from Rs.4,036 crore in the previous year. Branded sales increased by 38 per cent to Rs.1,620 crore from Rs.1,176 crore. However, sales from contract manufacturing declined by 9 per cent to Rs.254 crore from Rs.279 crore. Its domestic sales improved by 39 per cent to Rs.1,609 crore.

Its sales in international market improved by 5 per cent to Rs.2,711 crore from Rs.2,581 crore. Its Generic sales in US increased by 7 per cent and that in Brazil moved up by 14 per cent. The company received 6 ANDA approvals in 2014-15. It has 48 ANDA approvals and its pipeline consists of 19 pending approvals and 40 products under development.

As against the equity capital of Rs.85 crore, Torrent’s reserves and surplus amounted to Rs.2,621 crore as against Rs.2,205 crore in the previous year. Its long term borrowings went up sharply to Rs.2,185 crore from Rs.744 crore. Its inventories amounted to Rs.781 crore as compared to Rs.695 crore.

Torrent acquired 100 per cent stake of Zyg Pharma Pvt Ltd, engaged in manufacturing of dermatological formulations during May 2015.



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