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| Ind-Swift Labs registers 74% growth in PAT for Q2 of FY 2010-11 |
| Announcement / Corporate Nov 15, 2010, 19:14 IST |
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Ind Swift Laboratories Limited, one of India’s leading pharma company, reported growth of 74% in net profit for the quarter ended September 30, 2010.
Key Financial highlights
Financial performance for the Quarter ended September, 2010
All comparison with Q2FY10
- Total Sales up 8.33% at Rs. 212.83 crore as against Rs 196.46 crore
- EBIDTA at Rs 44.69 crore and operating margin of 20.99 % to sales as against Rs 35.86 crore in Q2FY10
- PAT at Rs. 21.74 crore and net margin of 10.21% as against Rs 12.49 crore in Q2FY10
Financial performance for the Six Months ended September, 2010
All comparisons with H1FY10
- Total sales up 12.57% at Rs. 412.88 crores as against Rs 366.78 crore in H1FY10
- EBIDTA at Rs. 84.93 crores and operating margin of 20.94% to sales as aginst Rs 66.08 crore in H1FY10
- PAT at Rs. 36.60 crores and net margin of 8.8% as against Rs 23.77 crores in H1FY10
Commenting on company’s performance for second quarter and first half of FY 11, Mr. N.R.Munjal, Vice Chairman and Managing Director, said,
“The Exports of the Company during the Quarter rose by 11% from Rs. 86.27 crores to Rs. 95.02 crores. The improvement and growth in company’s performance is the result of better product mix , better realizations and improved margins”.
“Going forward, Company is focusing on the regulated markets of US, Australia and Japan in a big way for which it has already filed over 310 DMFs in various Countries, including that of US, Australia, NewZealand and Japan . We have also filed over 129 patent in various Countries”, added Mr. Munjal.
About Ind-Swift laboratories Limited:-
Ind-Swift Laboratories limited (ISLL) is a leading global player in Active Pharmaceutical Ingredients and Advanced intermediates. ISLL, with a clear focus on positioning itself as a primary supplier of specialized APIs to regulated markets, hitherto focused on unregulated / soft regulated markets, ISLL has been steadily building a platform for a foray into regulated markets. ISLL has undertaken various Globalization initiatives by entering in regulated markets (US, Europe, Japan, Australia and Canada), registering its blockbusters products in various non-regulated and soft regulated countries, filing DMFs, investing heavily in R&D, developing its IPR cell and upgrading manufacturing facilities with increased capacities to cater to the increased global Demand for the Company’s products.
With Nineteen ( 19 ) FDA compliant plants and a robust product basket of 40 molecules (20 more in the pipeline), ISLL is well set to reap the rewards of its initiatives over the next few years, the time when over US$ 99 billion drugs goes off patent.
ISLL is positioning itself as a primary supplier of APIs to generic players in regulated markets. The Company already has a good presence in unregulated / soft regulated markets (exports products to over 50 countries). The Company is now in agreement with global players for the supply of blockbuster drugs like Clarithromycin, Atorvastatin, Fexofenadine, Letrozole, Anastrozole, Rosuvastatin, Pioglitazone, Clopidogrel etc., to regulated markets on patent expiry. The Company also sells specialized APIs and speciality intermediates to several leading Indian Pharmaceutical Companies. ISLL has already built up sizable capacities in these molecules to meet increased global demand.
A talented team of research scientists, API and regulatory affairs professionals support the Company’s marketing efforts across the country.
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