WYETH LTD
NSE Symbol WYETH
REVIEW OF RESULTS
Q3 /E 31-08-2010
WYETH Ltd has declared its results for the 3rd quarter ending Aug,2010. These are compared with the previous results below :
Wyeth does not have a comparable previous year, as the previous period as not a full year. In the mean time, Wyeth also has become a subsidiary of Pfizer Inc. Consequently how will the future be for the Indian subsidiaries of Pfizer limited and Wyeth Limited is to be seen in future.
The 3 quarters so far are in the table. The annual figures for the period are estimated by taking the actual for the last 3 Qtrs so far plus an addition equal to Q3/e Aug,2010, on the assumption that 4th Q results will be approximately on the same level.
The annual likely sales are Rs.472.77 Cr. Net profit is likely to be Rs.116.56 Cr. Annual EPS is likely to be Rs.51.29.
Current Market price of the share is Rs.817. Thus, the PE ratio is around 15.9.
RESULTS IN FIGURES:
| WYETH | 31-Aug-10 | 31-May-10 | 28-Feb-10 | ANNUAL |
| Net Sales | 12207 | 12205 | 10658 | 47277 |
| Other Operating Income | 52 | -8 | 34 | 130 |
| SIT & WIP | -973 | 807 | -67 | -1206 |
| Raw Materials | 1782 | 1280 | 1207 | 6051 |
| Purchase of Traded Goods | 3108 | 2261 | 2317 | 10794 |
| Employees Cost | 1214 | 1662 | 1141 | 5231 |
| Depreciation | 170 | 162 | 185 | 687 |
| Other Expenditure | 3055 | 2450 | 1764 | 10324 |
| Total Expend | 8356 | 8622 | 6547 | 31881 |
| Profit from Operations | 3903 | 3575 | 4145 | 15526 |
| Other Income5 | 303 | 291 | 168 | 1065 |
| Profit B I&EI | 4206 | 3866 | 4313 | 16591 |
| Interest | 10 | 10 | 11 | 41 |
| ProfitA I BB EI | 4196 | 3856 | 4302 | 16550 |
| Profit before tax | 4196 | 3856 | 4302 | 16550 |
| Tax expense | 1221 | 1191 | 1261 | 4894 |
| Net Profit after tax | 2975 | 2665 | 3041 | 11656 |
| Net Profit | 2975 | 2665 | 3041 | 11656 |
| Face Value.Rs | 10 | 10 | 10 | 10 |
| Paid Up Equity | 2272 | 2272 | 2272 | 2272 |
| Basic EPS | 13.09 | 11.73 | 13.38 | 51.29 |
| Public holding (%) | 48.88 | 0 | 48.88 | 48.88 |
For the previous Period : (Excerpts from its Annual Report)
FINANCIAL AND OPERATIONAL PERFORMANCE
Sales for the period ended 30th November, 2009 were Rs. 286 crores (previous year Rs. 383 crores) which represents growth of 12% over the previous year on an annualized basis. The Company maintains its leadership position in Oral Contraceptives, Hormone Therapy and Folic Acid markets.
The products launched in the last few years have achieved good growth over the previous year. Two key products, ENBREL*, a break through treatment for Rheumatoid Arthritis and Psoriasis, achieved growth of 38% and PREVENAR*, a vaccine for invasive Pnuemococcal disease achieved growth of 75%.
During the period, the Anne French* range received a boost with the launch of the new “Anne French* roll-on”.
Featuring a very convenient applicator, a category innovation, new fragrance variant, and variants designed for normal as well as dry skin, the roll-on has been a success in the market, bringing new consumers into the fold.
There was continuing emphasis on improving market presence for Anacin*, through innovative retail branding initiatives. This year saw the launch of Anacin* Multi Pain focused on providing relief of multiple body pains.Thus, Anacin* Multi Pain has broadened the brand’s relevance for consumers by targeting many more usage occasions than before.
ANNOUNCEMENTS
TO THE EXCHANGE
06-10-2010 Wyeth Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-AUG-2010 as follows: Net Sales of Rs. 12207 lacs for quarter ending on 31-AUG-2010 against Rs. 12205 lacs for the quarter ending on 31-MAY-2010. Net Profit / (Loss) of Rs. 2975 lacs for the quarter ending on 31-AUG-2010 against Rs. 2665 lacs for the quarter ending on 31-MAY-2010.
31-03-2010 Wyeth Limited has informed the Exchange regarding the standalone Results for the quarter ended on 28-FEB-2010 as follows: Net Sales of Rs. 10658 lacs for quarter ending on 28-FEB-2010. Net Profit / (Loss) of Rs. 3041 lacs for the quarter ending on 28-FEB-2010.
19-02-2010 Wyeth Limited has informed the Exchange that at the meeting of the Board of Directors of the Company held on February 19, 2010, following decisions were taken : (1) Dividend of Rs. 20.00 per equity share of Rs. 10 each (200%) on Equity Shares of Rs. 10 each was recommended by the Board of Directors.
28-10-2009 Wyeth Limited has informed the Exchange that the auditors have conducted the limited review for the un-audited financial results for the quarter ended September 30,2009 and the year to date results for the period April 1, 2009 to September 30, 2009.
27-10-2009 Wyeth Limited has informed the Exchange that "At the Meeting of the Board of Directors held on October 26, 2009, the Board of Directors approved change in the accounting year of the Company from April-March to December-November. Accordingly, the current accounting year of the Company will be a period of 8 months from April 2009 to November 2009".
26-10-2009 Wyeth Limited has informed the Exchange that "At the Meeting of the Board of Directors held today, i.e. October 26, 2009 following changes took place in the Directorate of the Company : (1) Mr. R.R. Iyer resigned as Managing Director of the Company effective October 26, 2009; (2) Mr. Kewal Handa was appointed as Additional Director and then as Managing Director of the Company effective October 26, 2009".
16-10-2009 Wyeth Limited has informed the Exchange that: "Wyeth Limited ("the Company") has been informed by Wyeth (its parent company) of the merger of the latter corporation, with Wagner Acquisition Corp., a direct, wholly-owned subsidiary of PFizer Inc., through a scheme of merger effected pursuant to and as per the prevailing laws of the United States of America. The merger of Wyeth and Wagner Acquisition Corp. has become effective as on October 15, 2009 and as a result of the merger, Pfizer Inc. is now the parent company of Wyeth and hence the ultimate parent of the Company".
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