Monday, July 28, 2014

Granules Iindia ltd - results for -Q1 FY 2014-15 (JUNE 2014) - Net Sales up 36%; Net Profit up 55% YoY - future promising



GRANULES INDIA LIMITED

RESULTS FOR Q1 FY 2014-15

(JUNE 2014)

Granules India Ltd., announced financial results for First Quarter ended June 30, 2014.

· Net Revenue : Rs. 311.0 Cr., an increase of 36% compared to Rs. 228.3 Cr. in Q1FY14

· EBITDA: Rs. 53.2 Cr., an increase of  69% compared to Rs. 31.6 Cr. in Q1FY14

· Net Profit: Rs. 22.9 Cr., an increase of 56% compared to Rs. 14.7 Cr.in Q1FY14

The Company’s profitability margins continued to strengthen compared to the corresponding quarter in the previous financial year and sequential quarter.

The EBITDA margin increased 328 basis points to 17.1%, while
the PAT margin increased 91basis points to 7.4% compared to the corresponding quarter of the prior financial year.

The consolidated numbers include performance from Auctus, an API manufacturer acquired in February 2014. Auctus contributed Rs. 26.1 Cr . during the quarter with an EBITDA of Rs. 2.2 Cr.
and a net loss of Rs. 2.8 Cr.

The Company’s standalone sales during the quarter were Rs. 253
Cr. which is an increase of 21%. The EBITDA margin grew 483
basis points to 19.5% while PAT improved by 176 basis points to 8.8% .

During the quarter, the Bonthapally API facility successfully completed a U.S. FDA inspection and also was also certified ISO14001 for Environmental Management Systems as well as OHSAS 18001 for Occupational Health Safety Systems. In addition, the Jeedimetla API facility was inspected by EDQM.

“We are pleased to see our concentrated effort on improving margins through manufacturing efficiencies and process innovation continuing to bear fruit. In addition to the strong performance from the standalone operations, we are seeing positive improvements at Auctus. The team is receiving positive responses from customers and we anticipate the performance at Auctus to start ramping up in the second half of the financial year.”said Krishna Prasad, MD.

Results table

Granules India
Q1 FY 15
Q4 FY14
Dif% QoQ
Q1 FY14
Dif% YoY
FY14
Net Sales
311.02
317.47
-2.03
228.29
36.24
1095.86
OPT
41.14
41
0.34
25.89
58.9
132.79
PBT
34.13
33.21
2.77
22.2
53.74
112.36
NPT
22.87
23.63
-3.22
14.69
55.68
75.23
EPS
11.02
11.46
-3.84
7.11
54.99
36.49
EQ-FV.10
20.35







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