Divi's Labs slips after Q4 earnings

The result was announced after market hours on Monday, 20 May 2013.

Meanwhile, the BSE Sensex was up 18.90 points, or 0.09%, to 20,242.88.

On BSE, 11,000 shares were traded in the counter as against an average daily volume of 7,639 shares in the past one quarter.

The stock hit a high of Rs 1,075 and a low of Rs 1,016.85 so far during the day. The stock had hit a record high of Rs 1,233 on 30 November 2012. The stock had hit a 52-week low of Rs 898.30 on 4 June 2012.

The stock had underperformed the market over the past one month till 20 May 2013, rising 2.38% compared with the Sensex's 6.35% rise. The scrip had also underperformed the market in past one quarter, rising 2.75% as against Sensex's 2.96% rise.

The large-cap company has an equity capital of Rs 26.55 crore. Face value per share is Rs 2.

Divi's Laboratories' consolidated net profit rose 12.89% to Rs 602.01 crore on 14.04% growth in total income to Rs 2189.65 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012).

The company said that while there was a forex gain of Rs 11.45 crore in FY 2013, there was a forex loss of Rs 7.77 crore in Q4 March 2013.

The company said that due to the continuing severe power shortage in Andhra Pradesh, it had to rely on purchased power at higher cost.

Divi's Laboratories' said that in FY 2013, the addition to fixed assets amounted to Rs 248 crore. In addition, an amount of Rs 303 crore is carried forward as capital work in process (WIP) for the capital works under execution, the company said.

During the year, the company's unit-II facility was successfully inspected by TGA, Australia (GMP), US Food & Drug Administration (USFDA) for Nutraceutical facility, USFDA for API site (pre-approval and Cgmp), Slovenian Medicines Agency (EU GMP inspection for 7 APIs), Divi's Laboratories said in a statement.

Divi's Laboratories' board of directors at a meeting held on Monday, 20 May 2013, recommended dividend of Rs 15 per share for FY 2013.

Divi's Laboratories' product portfolio comprises generic active pharmaceutical ingredients (APIs) and custom synthesis of APIs, intermediates and specialty ingredients for innovator pharma giants. Custom synthesis also includes peptide building blocks (protected amino acids).

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