TORRENT PHARMACEUTICALS LIMITED
RESULTS FOR Q3 FY 2013-14
(Q.E. DEC,2013)
Torrent Pharmaceuticals has
reported 41 % increase in its consolidated net profit for the 3rd quarter ended
December 31, 2013 at Rs 158 crore on the back of robust sales – as against a
consolidated net profit of Rs 112 crore in the in the same quarter last Year.
Net sales during the quarter stood
at Rs 990 crore, compared to Rs 768 crore in the year-ago period.
EPS for Q3 FY 14 against a Face Value of Rs.5 stands at 9.34
against Rs.6.64 in previous quarter and Rs.6.63 in corresponding Quarter of
last year.
The annualized EPS will
stand at 9.34 x 4 = 37.36. Today’s closing share price stands at 511.60.
The
company had issued Bonus shares in
July 2003. The Equity capital has therefore gone up from Rs.42 Cr to Rs.85 cr.
The PE Ratio stands at 13.69. Considering the future prospects of
the company, Torrent Pharma is a very good Buy at current prices for
medium/long term investors.
The
company has 16 wholly owned subsidiaries and one Partnership firm and
manufactures Branded formulations.
The
company has declared an interim dividend of Rs 5 per equity share of Rs 5 each
fully paid up.
On
December 13, 2013 the company had signed a definitive agreement to acquire
branded formulations business in India and Nepal of Elder Pharmaceuticals for a
consideration of Rs 2,004 crore.
Both
parties are in the process of taking regulatory approvals and satisfying with
various conditions precedent.
RESULTS TABLE
|
Torrent Pharma
|
31.12.13
|
%Dif QoQ
|
30.09.13
|
%Dif YoY
|
31.12.12
|
|
Net Income
|
1015
|
4.42
|
972
|
27.35
|
797
|
|
Total Expenses
|
821
|
0.74
|
815
|
25.15
|
656
|
|
Profit from Operations
|
194
|
23.57
|
157
|
37.59
|
141
|
|
Profit Before Tax
|
188
|
23.68
|
152
|
31.47
|
143
|
|
Tax
|
30
|
-23.08
|
39
|
-3.23
|
31
|
|
net profit
|
158
|
39.82
|
113
|
41.07
|
112
|
The
Net sales have grown 16% within India and 38% outside India YoY.
The
company's global revenues grew by 41% to Rs 637 crore yOy. "In the
international operations, US Businesses reported growth of 61%, Europe
(including Heumann) grew by 59%, Brazil operations' growth was 26% and rest of
the world, including Russia, CIS, Mexico and Canada grew by 9%," the
company statement said.
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* E N
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