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| Ind-Swift net profit up by 83.10%, Exports up 37.87% | | Sustained Growth Sustained Earnings |
| Announcement / Corporate Jan 31, 2011, 19:49 IST |
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Ind Swift Laboratories Limited, one of India’s leading pharma company reported a net profit growth of 83.10% for the third Quarter of FY 2010 – 2011.
The company reported a net profit of Rs. 24.61 crores for the Quarter ended 31st December 2010 registering a growth of 83% against the figure of Rs. 13.45 crores for the Quarter ended 31st December, 2009. For the nine months ended 31st December Company reported a net profit of Rs. 61.22 crores as against Rs. 37.21 crores as on 31st December, 2009 registering a growth of 64.53%.
The turnover of the Company also rose by 42.9% from 216.90 in Dec. 2009 to Rs. 310.11 in December, 2010. For the nine months the Company registered a total turnover of Rs. 722.99 as against the turnover of Rs. 583.68 crores for the nine months ended 31st December, 2009. Company EBIDTA Margin also improved significantly as it registered a net EBIDTA Margin of 18.73% for the nine months ended 31st December, 2010.
Commenting on the Performance Sh. N.R. Munjal Vice Chairman Cum Managing, Director informed that Company’s focus on high end export markets and on block buster molecule is yielding results as company is giving sustained revenues. Going forward company is looking at Quantum leap jump in its efforts to tap regulated markets which will improve the quality of our business and deliver strong numbers on a consistent basis.”
The exports of the Company during the Quarter increased by 37.87% from Rs. 87.03 crores in quarter ended 31st December, 2009 to Rs. 120.00 crores in quarter ended 31st December, 2010. Company is presently exporting its products to over 50 countries across the Globe and during the Quarter exports mainly to Japan, Latin American & Asian Market resulted in growth in Revenues & margins.
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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