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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (4279)	5/16/1999 1:37:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Aurobindo Phrama Limited- Sales up 86%,earnings up 110%,exports up 127% 'Aurobindo Pharma Limited has always been a fundamentally strong financial performer. It is a consistent profit making and dividend paying company with an annual growth of 50% since its inception.' aurobindo.com Major Customers 'The major customers of Aurobindo Pharma includes Ranbaxy Laboratories Ltd, Cipla Ltd, Dr. Reddy Labs Ltd, Lupin Labs Ltd, IPCA, Torrent Pharma Ltd, SPIC, Sarabhai, TTK, Lyka Labs, Citadel, Smithkline Beecham, Glaxo, Indukern AG. Schwezer hall Borospvskig zavod etc.' Performance. aurobindo.com Financial Snapshot walletwatch.com ========================== Sunday, May 16, 1999 Aurobindo Pharma net up 110% at Rs 50.14 cr Date: 16-05-1999 :: Pg: 01 :: Col: d Our Bureau HYDERABAD, May 15 AUROBINDO Pharma Ltd (ABL) has registered a 86 per cent growth in total turnover, 127 per cent growth in exports and 110 per cent growth in post-tax profits for the year ended March 31, 1999. The board, which met here on Saturday, recommended a dividend of 50 per cent. The bonus shares issued during the year would be eligible for pro rata dividend. ABL has posted a sales turnover of Rs. 550.03 crores as against Rs. 295.31 crores in the previous year, other income of Rs. 2.79 crores Rs. 1.48 crores) and a post-tax profit of Rs. 50.14 crores (Rs. 23.79 crores) on a post-bonus equity of Rs. 9.45 crores (Rs. 4.73 crores)with reserves amounting to Rs. 106.28 crores (Rs. 64.83 crores). Export sales increased steeply to Rs. 213.46 crores from Rs. 93.99 crores in the previous year. APL has incurred an expenditure of Rs. 474.1 crores (Rs. 256.94 crores) in the previous year and provided Rs. 17.1 crores towards interest (Rs. 11.87 crores), Rs. 6.29 crores towards depreciation (Rs. 2.22 crores) and Rs. 5.19 crores towards taxation (Rs. 1.97 crores). Aurobindo Pharma has decided to raise funds up to Rs. 50 crores by privately placing 10 lakh equity shares with the Foreign Financial Institutions and others on a preferential basis. These investments were intended at domestic formulation activity which includes acquisition of pharma brands, investments in R&D, capital expenditure and upgradation of technologies and facilities. The company's programme of commercial paper for Rs. 35 crores was rated A1+ by ICRA recently, indicating the highest safety. According to the APL Managing Director, Mr. P.V. Ramaprasad Reddy, the company has decided to set up an advanced research facility with an initial investment of around Rs. 15 crores. It would be set up under the name of APL Research Centre as an independent division for development of technologies, new products and new processes to meet the challenges of post-GATT scenario. APL was also setting up most modern formulation production facilities at a cost of around Rs. 25 crores for the manufacture of cephalosporin oral and sterile forms as well as other drug dosage forms. These are expected to be commissioned during the current fiscal year. Mr. Reddy said the company also planned to set up joint ventures in a few countries for the manufacture and marketing of pharmaceutical formulations. He said the details were being worked out and would be announced soon. Aurobindo Pharma, which witnessed an interest burden of Rs. 17.1 crores, working out to 3.1 per cent of the sales, does not expect further addition during the current fiscal year and is set to improve its net profit margin at least by one to one-and-a-half per cent more over the present level of around 10 per cent, the APL Director, Mr. Ajaya Kumar, told 'Business Line'. Stating that the company was looking at acquiring 'a package of formulation brands', he said APL had received about half-a-dozen proposals and the negotiations were going on. The company's brand acquisition programme was expected to be completed in another three to six months, Mr. Ajaya Kumar added. Source: hindubusinessline.com