AJANTA PHARMA - RESULTS - FOR Q3 FY 2013-14 (DEC,2013) - REVENUE UP 31%; NET PROFIT UP 92% YoY -Excellent performance - future promising

AJANTA PHARMACEUTICALS LIMITED

RESULTS FOR Q3 FY 2013-14

(DEC,2013)

AJANTA PHARMA has reported excellent results for the 3^rd quarter ended Dec,2013.

HIGH LIGHTS

OF Q3 FY 14 PERFORMANCE

Ø Revenue from operations at Rs.301 Cr (Rs.229 cr); grew 31% over same period last year.

Ø EBITDA at Rs.97 Cr (Rs.60Cr), grew 62% over Q3 FY 13

Ø EBITDA to Revenue at 32% against 26% in Q3 FY 13

Ø Profit after Tax at Rs.62 Cr (Rs.33 Cr), grew 92% over same period last year.

Ø PAT to revenue at 21% against 14% in Q3 Last year.

Ø Exports contributed 65% of total operating Income for the Quarter

HIGHLIGHTS

FOR 9 M/E DEC,2014

Ø Revenue from operations at Rs.799 Cr (Rs.590 cr); grew 35% over same period last year.

Ø EBITDA at Rs.234 Cr (Rs.139Cr), grew 68% over 9M FY 13

Ø EBITDA to Revenue at 29% against 24% in 9M FY 13

Ø Profit after Tax at Rs.151 Cr (Rs.74 Cr), grew 104% over same period last year.

Ø PAT to Revenue at 19% against 13% in 9M last year.

Ø Exports contributed 61% of total operating Income for the Quarter

INDIA BUSINESS :SPECIALITY FOCUS

For Q3 FY 14, India Business was Rs.98 Cr, up 38% over Q3 FY 13. Out of this Rs.98 Cr, Indian Pharma market (IPM) business was Rs.84 Cr and  Institution Sales was Rs.14 Cr.

Higher Growth during Q3 in IPM was across all therapeutic segments in which Ajanta operates. Ajanta continues to grow above Industry average in all segments  and improved its overall ranking in IPM to 40^th as per IMS MAT 2013. Company has launched 8 New Products during the quarter, taking tally of New Product Launches in the last 9 months to 19.

EMERGING MARKETS

GROWTH CONTINUES

Ajanta has established strong presence across Africa, CIS, west Asia, South-east Asia and Latin America. For the 3^rd Quarter, exports to these markets was Rs.195 Cr registering a growth of 26% over Q3 FY 13. For the 9m, sales were 489 Cr, a growth of 36% over 9M FY 13.

R&D :Maintaining Pace of filings

Company has filed 4 more ANDAS with USFDA during QA3 (total 8 in 9 MFY14) taking total tally to 22 ANDAs (2 approved and 20 awaiting approval. Company has also filed 109 Product Registration Dossiers in the emerging Markets in Q3FY14. R&D Expense for 9M FY 14 is Rs.39 Cr(5% of Sales) against Rs.28 cr in 9M FY 13.

RESULTS TABLE

Ajanta Pharma	Q3 FY14	Q2 FY 14	%Dif QoQ	Q3 FY 13	%Dif YoY
Total Income	300.85	279.83	7.51	229.34	31.18
Total Expenses	213.12	204.66	4.13	177.56	20.03
OPT	87.73	75.17	16.71	51.78	69.43
PBT	89.58	79.26	13.02	48.88	83.27
tax exp	27.16	23.45	15.82	16.31	66.52
Net Profit	62.42	55.81	11.84	32.57	91.65
Equity	17.67	17.67	0	11.8	49.75
FV	5	5	0	5	0
basic EPS	17.75	15.88	11.78	9.27	91.48
Dil EPS	17.72	15.86	11.73	9.25	91.57

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