Jubilant Life Sciences rose 4.17% to Rs 105 at 11:07 IST on BSE after the company issued a strong outlook for second half of the year ending March 2014.
The company issued the outlook after announcing Q2 September 2013 results after market hours on Tuesday, 29 October 2013.
Meanwhile, the BSE Sensex was up 72.55 points, or 0.35%, to 21,001.56.
On BSE, 2.23 lakh shares were traded in the counter compared with average volume of 1.95 lakh shares in the past one quarter.
The stock hit a high of Rs 107 and a low of Rs 98.80 so far during the day. The stock hit a 52-week high of Rs 248.25 on 10 December 2012. The stock hit a 52-week low of Rs 65.10 on 28 August 2013.
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The stock had outperformed the market over the past one month till 29 October 2013, rising 28.24% compared with the Sensex's 6.09% rise. The scrip had also outperformed the market in past one quarter, gaining 13.26% as against Sensex's 6.82% rise.
The small-cap company has an equity capital of Rs 15.93 crore. Face value per share is Re 1.
On a consolidated basis, the company reported a net loss of Rs 81 crore in Q2 September 2013 compared with net profit of Rs 152 crore in Q2 September 2012.
The company reported an exceptional loss of Rs 150 crore in Q2 September 2013 compared with an exceptional gain of Rs 47 crore in Q2 September 2012.
Profit after interest, but before exceptional items, fell 16% to Rs 123 crore in Q2 September 2013 over Q2 September 2012.
EBITDA (earnings before interest, taxes, depreciation and amortization), including other income, fell 1% to Rs 276 crore in Q2 September 2013 over Q2 September 2012. EBITDA margins were at 19.2% in Q2 September 2013.
The company's total income from operations rose 17% to Rs 1436 crore in Q2 September 2013 over Q2 September 2012. Jubilant Life Sciences said revenue growth was driven by volume growth in both, pharmaceutical and life science industry (LSI), segments.
In Q2 September 2013, income from operations of the pharma business stood at Rs 691 crore, showing growth of 6% in Q2 September 2013 over Q2 September 2012 and contributing 48% to the revenue mix in in Q2 September 2013.
In Q2 September 2013, income from operations for the LSI segment was at Rs 744 crore, thus improving by 30% in Q2 September 2013 over Q2 September 2012 and having 52% of share in total revenues in Q2 September 2013.
In its outlook, Jubilant Life Sciences said the revenues and EBITDA are expected to continue the uptrend and meet the growth targets set for the fiscal year ending March 2014 (FY2014). This is on account of improved capacity utilisations in sterile injectables and OCL, nutrition ingredients, Symtet and 3CP and backward integration of Pyridine and expansion to newer markets. The company said it expects the price uptrend in Pyridine and nutrition ingredients to continue. The company has a strong pipeline in API's and Solid Dosage Formulations. It expects new product launches, expansion in newer geographies and robust order book in sterile injectables to improve outlook in second half (H2) of FY2014, which it expects to be better than first half (H1) of FY2014.
Commenting on the company's performance, Shyam S Bhartia, chairman & managing director and Hari S Bhartia, co-chairman & managing director, Jubilant Life Sciences said: "Our performance is shaped by good volumes traction in Q2 FY2014. Growth will accelerate in H2 on the back of product launches under Solid Dosage Formulations, scale up in Speciality Pharmaceuticals and volume uptick visible in Vitamins and Acetyl businesses due to higher capacity utilisation levels. FY2014 will be marked by a strong business performance from all key business verticals and the restructuring initiative aimed at de-leveraging the balance sheet, which will drive a focussed reduction in debt."
Jubilant Life Sciences is a global pharmaceutical and life sciences company engaged in manufacture and supply of APIs, solid dosage formulations, radiopharmaceuticals, allergy therapy products and life science ingredients. It also provides services in contract manufacturing of sterile injectables and ointments, creams and liquids and drug discovery and development. The company's strength lies in its unique offerings of pharmaceutical and life sciences products and services across the value chain. With 10 world-class manufacturing facilities in India, US and Canada and a team of about 6300 multicultural people across the globe, the company is committed to deliver value to its customers spread across 99 countries.
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