Thursday, August 5, 2010

AUROBINDO PHARMA = Q1 FY 2011 = FIRST QTR RESULT = SALES UP : PROFITS DOWN ON HUGE OTHER EXPNSES : PRODUCT APPROVALS GOOD


Aurobindo Pharma Limited
NSE Symbol       AUROPHARMA
Q1 FY 2011 RESULTS
COMPARISON

NON-CONSOLIDATED
Net Sales at Rs.867.51 Cr is higher by 15.3% from  Q1 FY10(Rs.752.23Cr) – and proportionately (Q1 FY11 x 4) higher by 6.7% from FY2010 (Rs.3252.27Cr).
Other Expenditure has shot up to Rs.193.68 Cr  by 109.9% from Q1 FY2010 (Rs.92.29 Cr) – and by 78.2% from FY2010 proportionately (Rs.434.78 Cr).
The increase in other expenditure has resulted in profit from operations going down sharply by 43.6% to Rs.99.04 Cr  from Q1 FY10 ( Rs.175.61Cr) – and proportionately by 46.4% from FY2010 (Rs.739.78Cr).
Net Profit for the same reason has gone down by 49.8% to Rs.63.34 cr from Q1 FY2010 (Rs.126.11   cr) – and proportionately by 51.8% from FY2010(Rs.525.76 Cr).
Basic EPS  has gone down to Rs.11.28 from Q1 FY2010’s Rs.23.45 .Last year’s total EPS was Rs.97.09.
Whether the increase in other expenditure is a one time expenditure  or a continuing one is not clear. While the sales increase is quite healthy, the drastic drop in profits and EPS needs further watch on the profits of Q2 and onwards in current year.
Whether the current market price of Rs.944 is sustainable is to be seen. However, if  the expenditure reverts back to earlier levels, profitability will not only revert to old levels but also may see improvement further on further sales. This is to be watched. Receipt of Product approvals from various government authorities is quite healthy and indicates a good expansion in sales in the future.
RESULTS IN FIGURES:
Jun-10
Jun-09
dif%1
dif%2
Net Sales
86751
75223
15.3
325227
6.7
SIT&WIP
863
-603
-243.1
-14748
-123.4
Raw Materials
46859
42547
10.1
187775
-0.2
Traded Goods
116
347
-66.6
1936
-76
Employees Cost
6902
5066
36.2
23262
18.7
Depreciation
2739
2150
27.4
9546
14.8
Other Expen
19368
9229
109.9
43478
78.2
Total Expen
76847
58736
30.8
251249
22.3
Profit .Operations
9904
17561
-43.6
73978
-46.4
Other Income
130
136
-4.4
2281
-77.2
P B I&EI
10034
17697
-43.3
76259
-47.4
Interest
909
1781
-49
5233
-30.5
P A I B B EI
9125
15916
-42.7
71026
-48.6
P B T
9125
15916
-42.7
71026
-48.6
Tax expense
2791
3305
-15.6
18669
-40.2
P A T
6334
12611
-49.8
52357
-51.6
Extrao. Items
-
-

-219
#VALUE!
Net Profit
6334
12611
-49.8
52576
-51.8
Dividend%
-
-

100

Face Value
5
5
0
5
300
Paid Up Equity
2823
2688.26
5
2786.44
305.2
Reserves
-
-

188851

Basic EPS A EI
11.28
23.45
-51.9
97.09
-53.5
Diluted EPS A EI
9.82
19.5
-49.6
83.15
-52.8
Basic EPS B EI
11.28
23.45
-51.9
97.09
-53.5
Diluted EPS B EI
9.82
19.5
-49.6
83.15
-52.8
Publicholding (%)
43.85
41
7
43.12
306.8
ANNUAL FIGURES:
The annual figure reflect healthy growth YOY for last 5 years as can be seen below.
2006
2007
2008
2009
2010
Gross Sales
14,722.00
19797.2
23511.2
28064.4
32,017.40
Other Income
103.3
390.1
1,180.70
844.3
1,406.70
Operating Profit
1,888.50
3,217.30
4,355.50
2,945.10
8,579.50
Interest
448.3
187.3
161.1
550.6
523.3
Depreciation
511.2
718.4
746
824.1
954.6
Tax
235.2
20.8
540.6
321.2
1,865.90
Profit after tax
693.8
2,290.80
2,907.80
1,249.20
5,235.70
Net Profit / (Loss)
693.8
2,290.80
2,907.80
1,285.40
5,257.60

CONSOLIDATED FIGURES
The consolidated figures also reflect a similar position as the stand alone figures . Net sales are up by 13.9 compared to Q1 FY2010 and by3.1 compared proportionately to FY2010.
Other Expenditure is up by 115.7% compared to Q1 FY2010 and up proportionately by 57.7% from FY2010.
Profit  from Operations is down by 59.1% from Q1 FY2011 and proportionately by 54% from FY2010.
Net Profit is therefore down by 69.1% from Q1 FY2010 and proportionately down by 63.4% from FY2010.
Basic EPS is down by 70.4% to Rs.9.17 from Q1 FY2010(Rs.30.98) – and down proportionately by 64.7% from FY2010 (Rs.104.04 Cr).
RESULTS IN FIGURES:

AUROPHARMA
FY10CONS
Q1FY11CS
dif%3
Q1FY10CS
Dif%4
Net Sales
357643
92225
3.1
80965
13.9
SIT&WIP
-18492
26
-100.6
-1018
-102.6
Raw Materials
177927
43265
-2.7
40131
7.8
Traded Goods
12873
2564
-20.3
3025
-15.2
Employees Cost
32728
9849
20.4
6906
42.6
Depreciation
14835
4007
8
3326
20.5
Other Expen
59662
23525
57.7
10907
115.7
Total Expen
279533
83236
19.1
63277
31.5

+Profit .Operations
78110
8989
-54
21998
-59.1
Other Income
3894
311
-68.1
223
39.5
P B I&EI
82004
9300
-54.6
22221
-58.1
Interest
6779
1292
-23.8
2268
-43
P A I B B EI
75225
8008
-57.4
19953
-59.9
P B T
75225
8008
-57.4
19953
-59.9
Tax expense
19136
2851
-40.4
3308
-13.8
P A T
56089
5157
-63.2
16645
-69
Extrao. Items
-219
-
-
Net Profit
56340
5150
-63.4
16657
-69.1
Dividend%
-
-
-
Face Value
5
5
5
0
Paid Up Equity
2786.44
2823
2688.26
5
Reserves
180122
-
-
Basic EPS A EI
104.04
9.17
-64.7
30.98
-70.4
Diluted EPS A EI
89.12
7.99
-64.1
25.76
-69
Basic EPS B EI
104.04
9.17
-64.7
30.98
-70.4
Diluted EPS B EI
89.12
7.99
-64.1
25.76
-69
Publicholding (%)
-
-
41
ANNUAL FIGURES (CONSOLIDATED)
Annual figures for last 5 years indicate robust growth YOY .
AUROPHARMA CONS
2006
2007
2008
2009
2010
Gross Sales
16,955.00
22,240.70
25,463.10
30,252.90
34,535.90
Other Income
225.7
493.1
956.9
1,600.60
2,366.80
Operating Profit
2,310.40
3,515.00
4,368.00
2,840.80
9,693.80
Interest
604.1
453.6
446.8
838.6
677.9
Depreciation
721.3
997.2
1,003.70
1,276.00
1,493.40
Tax
273.9
43.6
536
213.6
1,913.60
Profit after tax
711.1
2,020.60
2,381.50
512.6
5,608.90
Net Profit / (Loss)
697
2,009.60
2,384.80
1,002.60
5,634.00


ANNOUNCEMENTS
TO THE EXCHANGE

05-08-2010        Aurobindo Pharma Limited has informed the Exchange regarding the consolidated Results for the quarter ended on 30-JUN-2010 as follows: Net Sales of Rs. 92225 lacs for quarter ending on 30-JUN-2010 against Rs. 80965 lacs for the quarter ending on 30-JUN-2009. Net Profit / (Loss) of Rs. 5150 lacs for the quarter ending on 30-JUN-2010 against Rs. 16657 lacs for the quarter ending on 30-JUN-2009.     -
05-08-2010        Aurobindo Pharma Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-JUN-2010 as follows: Net Sales of Rs. 86751 lacs for quarter ending on 30-JUN-2010 against Rs. 75223 lacs for the quarter ending on 30-JUN-2009. Net Profit / (Loss) of Rs. 6334 lacs for the quarter ending on 30-JUN-2010 against Rs. 12611 lacs for the quarter ending on 30-JUN-2009.     -
02-08-2010        Aurobindo Pharma Limited has informed the Exchange regarding a press release dated August 02, 2010 , titled "Aurobindo Pharma receives USFDA approval for Ranitidine Syrup".
03-06-2010        Aurobindo Pharma Limited has informed the Exchange regarding a Press Release dated June 03, 2010 titled "Aurobindo Pharma receives USFDA approvals for Ceftazidime for Injection"
01-06-2010        Aurobindo Pharma Limited has informed the Exchange regarding a press release dated June 01, 2010, titled "Aurobindo Pharma receives approval for Cefotaxime sodium for injection from Health Canada".
29-05-2010        Aurobindo Pharma Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on May 29, 2010 considered and approved the following: The final dividend at 40% (Rs. 2.00 per share of Rs. 5/- each) on the equity share capital of the Company for the year 2009-2010 has been recommended, subject to approval of members. The Company in the month of February, 2010 has paid an interim dividend of 60% (Rs. 3.00 per share of Rs. 5/- each) on the equity capital of the Company for the year 2009-2010.      
29-05-2010        Aurobindo Pharma Limited has informed the Exchange regarding the consolidated Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 357543 lacs for year ending on 31-MAR-2010 against Rs. 307729 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 56340 lacs for the year ending on 31-MAR-2010 against Rs. 10026 lacs for the year ending on 31-MAR-2009.
29-05-2010        Aurobindo Pharma Limited has informed the Exchange regarding the standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 325227 lacs for year ending on 31-MAR-2010 against Rs. 279484 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 52576 lacs for the year ending on 31-MAR-2010 against Rs. 12854 lacs for the year ending on 31-MAR-2009.
25-05-2010        Aurobindo Pharma Limited has informed the Exchange regarding a press release dated May 25, 2010, titled "Aurobindo Pharma receives USFDA approval for Valacyclovir HCL Tablets".
13-05-2010        Aurobindo Pharma Limited has informed the Exchange regarding a press release dated May 13, 2010, titled "Aurobindo Pharma receives tentative approval for Rosuvastatin Calcium Tablets".
06-05-2010        Aurobindo Pharma Ltd has informed the Exchange regarding a press release dated May 06,2010 titled "Aurobindo Pharma receives approvals for Cyclobenzaprine Tablets from Health Canada ".
29-04-2010        Aurobindo Pharma Limited has informed the Exchange that pursuant to the approval of the Hon'ble High Court of Andhra Pradesh to the Scheme of Amalgamation of Trident Life Sciences Limited, wholly owned subsidiary with Aurobindo Pharma Limited, the Company is pleased to inform that the Scheme of Amalgamation is made effective on April 29, 2010. Further, no shares would be issued by the Company in consideration for the merger as Trident is a wholly owned subsidiary of the Company.
16-04-2010        Aurobindo Pharma Ltd has informed the Exchange regarding a press release dated April 16, 2010, titled " Aurobindo Pharma receives approvals for Cefprozil Tablets and PFOS from Health Canada"
13-04-2010        Aurobindo Pharma Ltd has informed the Exchange regarding a press release dated April 13, 2010, titled " Aurobindo Pharma receives final approval for Ondansetron Orally Disintegrating Tablets"
08-04-2010        Aurobindo Pharma Ltd has informed the Exchange regarding a press release dated April 08, 2010, titled " Aurobindo Pharma receives final approval for Venlafaxine Hydrochloride Tablets."
22-03-2010        Aurobindo Pharma Ltd has informed the Exchange regarding a press release dated March 20, 2010, titled "Aurobindo Pharma receives approval for Topiramate Tablets from Health Canada".

* * *   E N D   * * *

No comments:

Post a Comment