Jindal Steel and Power's (JSPL) consolidated net profit after tax and before minority interest and share of profit/loss of associates declined 35% to Rs 752.75 crore on 3% growth in income from operations to Rs 5648.44 crore in Q4 March 2013 over Q4 March 2012. The company announced the results after market hours on Thursday, 25 April 2013.
JSPL's consolidated net profit after exceptional item declined 27.25% to Rs 2911.62 crore on 9% growth in income from operations to Rs 19806.78 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012). Net profit before exceptional item declined 14% to Rs 3485.74 crore in FY 2013 over FY 2012.
JSPL said that it has maintained a double digit growth in its steel business despite a global economic slowdown & subdued steel market. The company with its relentless commitment to operational excellence achieved 100% utilization of steel and pelletisation capacity, JSPL said in a statement. Several new countries and customers were added to expand the market share of JSPL, the company said. New sources of raw material were established and made operational, it added. The company, which hitherto focused mainly on B to B business, made an impressive foray into the retail market for its standard products, JSPL said. The company said it has also reorganized its operations to bring more focus on Individual Business Segments and Business Units. Specific attention has been paid to strengthen the internal process and systems, the company added. As the organizations steps into 2013-14, it is ready and well poised for an orbital jump to a much larger volume of activity as envisaged in the company's Vision 2020 plan, JSPL said in a statement.
JSPL's number of customers increased to 2,758 in FY 2013, from 2,139 in FY 2012. The company forayed into retail segment. It has appointed 15 distributors to kick off channel sales. It intends to achieve country wide coverage by 30 June 2013, JSPL said in a statement.
JSPL said its pallet production has reached its full capacity. Exports by value surged 30% in FY 2013 over FY 2012. The company said that it has achieved impressive gain in market share particularly in long products segment. The production of coking coal started in Mozambique.
The company said it has achieved 100% liquid steel capacity. Production of steel rose 11% in FY 2013 over FY 2012. Sales by value rose 12.2% in FY 2013 over FY 2012.
JSPL said that the company is all set to increase its steel capacity from 3.5 MTPA to 7 MTPA in 2013-14. The company also said it plans to double its power production capacity to 4,969 megawatts (MW) during 2013-14.
JSPL's board of directors at a meeting held on Thursday, 25 April 2013, recommended dividend of Rs 1.60 per share for FY 2013.
On a consolidated basis, Biocon's net profit surged 154% to Rs 249 crore on 4% rise in total revenue to 649 crore in Q4 March 2013 over Q4 March 2012. The company reported an exceptional item of Rs 202 crore in Q4 March 2013. Profit before tax (PBT) before exceptional item fell 30% to Rs 77 crore in Q4 March 2013 over Q4 March 2012. Earnings Before Interest Taxes Depreciation and Amortization (EBITDA) fell 21% to Rs 124 crore in Q4 March 2013 over Q4 March 2012.
Biocon said that it received $20 million from US drug maker Mylan Inc. as an upfront payment related to its deal on insulin products. In February 2013, India's biggest biotechnology company signed a deal with US drug maker Mylan for an exclusive collaboration for the development and commercialization of generic versions of its three insulin analog products globally.
Commenting on the results, Chairman and Managing Director, Kiran Mazumdar-Shaw stated, "We are pleased to close fiscal 2013 on a very strong note. The key contributors to growth this fiscal have been Research Services, Branded Formulations and our growing biosimilar business, led by generic Insulins. Biocon's Insulin franchise continues to garner market share across India & emerging markets and now accounts for more than 10% of our sales. This quarter saw us enhance our partnership with Mylan through the re-licensing of our portfolio of generic insulin analogs. The partnership with Mylan endorses the intrinsic value of this asset and significantly reduces our burden of development costs involved in global commercialization. Looking ahead, we intend to sustain our growth momentum by optimizing our small molecules portfolio, further expanding our insulin footprint in emerging markets, and continuing to deliver robust growth in Branded Formulations and Research Services. I am also pleased to state that the Board has recommended a Dividend payout of Rs 5/share (100%) and a Special Dividend of Rs 2.50/share (50%) pursuant to the re-licensing of our insulin analogs portfolio, as our on-going commitment to building incremental shareholder value."
In its outlook, Biocon said that the emphasis in fiscal year ending March 2014 will be on the execution of development plans for the generic biologics portfolio with a firm leash on costs and portfolio margins. The firm expects its R&D costs to increase in line with the progress being made by our generic biologics and novel molecules. Revenues should keep pace with the increasing R&D investments, as the firm gains further traction in emerging markets this fiscal. It intends to further optimize its small molecules portfolio to ensure healthy margins. Our Malaysian facility continues to advance and is poised to come on stream by the fiscal year ending March 2015, helping Biocon transform into a leading generic insulin player.
Hero MotoCorp, ICICI Bank and Maruti Suzuki will unveil their Q4 results today, 26 April 2013.
Asian Paints after market hours on Thursday, 25 April 2013 said it has scheduled a board meeting on 9 May 2013, to consider sub-division of equity shares along with Q4 March 2013 and year ended 31 March 2013 (FY 2013) results and final dividend.
Tata Steel has raised 300 million Singapore dollars from Singapore market through an international bond offering at a coupon rate of 4.95%. It added that the bonds will be listed on the Singapore Stock Exchange and the guarantee will be an unsecured obligation of Tata Steel. The bond offering of Tata Steel, launched through ABJA Investments, a Singapore-based wholly-owned arm of the company.
IDBI Bank said after market hours on Thursday, 25 April 2013 that net profit fell 28.06% to Rs 554.45 crore on 9.87% rise in total income to Rs 7543.78 crore in Q4 March 2013 over Q4 March 2012.
Idea Cellular said after market hours on Thursday, 25 April 2013 that consolidated net profit rose 28.95% to Rs 308.18 crore on 12.88% rise in total income to Rs 6061.38 crore in Q4 March 2013 over Q4 March 2012.
Idea Cellular's consolidated net profit rose 34.82% to Rs 308.18 crore on 8.66% rise in total revenue to Rs 6061.38 crore in Q4 March 2013 over Q3 December 2012.
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