Shasun Chem FY08 Consolidated Revenue up 10.77%

Shasun Chemicals & Drugs Ltd; a leading Indian CRAMS and API exporting pharmaceutical company, posted a 10.77 per cent growth in consolidated revenue at Rs 887.20 crore for the financial year ended March 31, 2008 compared to Rs 800.93 crore in FY07.

Consolidated net profit stood at Rs 24.60 crore for FY08 compared to Rs.52.62 crore in FY07. The consolidated net profit after removing negative goodwill is Rs.15.86 crore for the current year as against loss of Rs.3.05 crore during the previous year.

The UK operation has been EBIDTA positive for the entire year even without considering release of negative goodwill. The earnings per share (diluted) stood at Rs 5.09 on equity of Rs 9.66 crore for FY08.

On a standalone basis, the Income from Operations grew 13.1% per cent to Rs 481.75 crore compared to Rs. 425.82 crores in the previous year. The net profit stood at Rs 22.26 crores for the FY08 as against Rs 38.29 crores in FY07.

Dividend

The Board of directors of the company has recommended a Final Dividend of 50% for the year, subject to the approval of the shareholders at the annual general meeting.

Q4 Performance

On a standalone basis, the Income from Operations grew 5.10% per cent to Rs 119.76 crore compared to Rs. 113.95 crores in the corresponding quarter last year. The net profit stood at Rs 7.86 crore compared to Rs.14.33 crore in the corresponding quarter of previous year

About Shasun Chemicals and Drugs Ltd (BSE: 524552, NSE: SHASUNCHEM)

Shasun Chemicals and Drugs Ltd is leading pharma company focused on manufacture of Active Pharmaceutical Ingredients (API's), intermediates and finished dosages to global pharma majors. Founded in 1976, Shasun offers an integrated business model by offering services in research, development and manufacturing (including Contract Research and Manufacturing Services).The company has four bulk manufacturing facilities, two in India and two in UK, which have been inspected successfully several times by various regulatory agencies including US FDA. Its finished dosage facility has been inspected by US FDA, TPD Canada and MHRA, UK. With its maiden acquisition of business and assets of UK-based Rhodia Pharma through the wholly owned subsidiary Shasun Pharma Solutions Ltd (SPSL), Shasun has now become a multi national company.