SHASUN PHARMACEUTICALS LTD - RESULTS FOR Q3 FY 14 (DEC,2013) - NET SALES UP 20%YoY; NET PROFITS UP 59% YoY

SHASUN PHARMASEUTICALS LTD

RESULTS FOR Q3 FY 2013-14

(DECEMBER,2013)

Shasun Pharamceuticals has reported good results for the third quarter ending December,2013.

Net sales for Q3 FY 14 has gone up well to Rs.309.38 Cr; up by  8.55% from Q2 FY 14 (Rs.285.01Cr); and up by         20.34% from Q3 FY 13 (Rs.257.09 Cr). Thus, sales improvement is very Good.

Profit from operations  for Q3 FY 14 has gone up well to Rs.23.28 Cr; up by 34.49% from Q2 FY 14 (Rs.17.31 Cr); and up by       186.35% from Q3 FY 13 (Rs.8.13 Cr). The expenses have grown but less than proportionately compared to Sales Revenue.

Other income has come down to Rs.3.46 Cr; down by -51.94% from Q2 FY 14 (Rs.7.20 cr); and down by  -57.49% from Q3 FY 13 (Rs.8.14 Cr).

Finance costs has gone up to Rs.  13.78 cr; up by 23.81% from Q2 FY 14 (Rs.11.13 cr; and up by   40.04% from Q3 FY 13 (Rs.9.84 Cr). 

Taking into account the downturn in other income and the upswing in finance costs, Profit  before tax has come at Rs.12.96 cr; slightly down by -3.14% from Q2 FY 14 (Rs.13.38 Cr);  and up by a huge    101.56% from Q3 FY 13 (Rs.6.43 Cr).

Tax expense stands at Rs.8 lakhs compared to Rs(-)4 Lakhs in preceding Qtr and Rs.1.78 Cr in Q3 FY 13.

Net Profit  stands at Rs. 13.04 Cr down by -2.25% from preceding Qtr (Rs.13.34Cr); and up by a good        58.83% from Q3 FY 13 (Rs.8.21 CR).

On a Face Value of Rs.2, Basic EPS for Q3 stands at Rs.2.3 against Rs.2.36 in preceding Quarter and Rs.1.49 in Q3 FY 13.

The annualized EPS works out to Rs.9.2; which yields a Price earning Ratio of   8.7  at the current market price of around Rs.80.

RESULTS TABLE

Shasun Pharma	Q3 FY 14	%dif QoQ	Q2 FY 14	%Dif YoY	Q3 FY 13
Net sales	30938	8.55	28501	20.34	25709
Other operating income	1590	33.95	1187	16.31	1367
Total income from operations	32528	9.57	29688	20.14	27076
Cost of materials	16409	6.72	15376	17.12	14011
stock-in-trade	94	-77.99	427	-3.09	97
Changes in inventories	-839	-54.4	-1840	1298.33	-60
Employee benefits expense	5853	8.23	5408	19.91	4881
Depreciation	1488	-0.67	1498	26.64	1175
Other expenses	6890	2.56	6718	11.87	6159
Total expenses	30200	8.02	27957	14.99	26263
Profit from operations	2328	34.49	1731	186.35	813
Other income	346	-51.94	720	-57.49	814
Finance costs	1378	23.81	1113	40.04	984
Profit  before tax	1296	-3.14	1338	101.56	643
Tax expense	8	-300	-4	-95.51	178
Net Profit	1304	-2.25	1334	58.83	821
Face Value (Rs.)	2	0	2	0	2
Paid-up equity	1133	0	1133	2.72	1103
Basic EPS	2.3	-2.54	2.36	54.36	1.49
Public Holding%	58.03

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