AUROBINDO PHARMA - RESULTS FOR Q1 FY 2014-15 - (JUNE 2014) - Sales & Net Profits up impressively YoY - future promising

AUROBINDO PHARMA LIMITED

RESULTS FOR Q1 FY 2014-15

(JUNE 2014)

CONSOLIDATED RESULTS TABLE

Aurobindo Pharma	Q1 FY15	Q4FY14	Dif% QoQ	Q1 FY14	Dif% YoY	FY14
Net Sales	2895	2306	25.54	1700	70.29	8038
Total Income	2911	2330	24.94	1716	69.64	8100
Total Exp	2344	1675	39.94	1480	58.38	6280
OPT	567.32	654.93	-13.38	235.79	140.6	1820.28
PBT	560.7	666.91	-15.93	41.91	1237.87	1532.52
NPT	415.43	501.81	-17.21	18.6	2133.49	1172.85
EPS-FV.Rs.1	14.24	17.21	-17.26	0.64	2125	40.22

Aurobindo Pharma has produced very good results for Q1 FY 15 ending June 2014. The consolidated results are in the above table.

Net Sales have increased 25.54 % on QoQ basis and 70.29 % on YoY basis.

Net Profit has decreased 17.21% QoQ but has increased 2133% YoY. This is due to various reasons as mentioned in the Notes to the results.

Taking into account normal factors and excluding the abnormal factors, the results are quite gratifying. Future results must show Aurobindo’s performance in a good light.

Notes to Accounts Summary :

Sales for standalone for Q1 FY 15 include exports of Rs.1597.82 cr against Rs.1265.86 cr in corresponding Qtr of last year.

Sales for Standalone for current Qtr includes dossier income of Rs.66 lakhs against Rs.2.38 cr in Q1 FY 14.

Forex gain/loss includes exchange difference of Rs.10.49 cr , Rs.50.48 cr and Rs.50.48 for Q1 FY 15, Q4 FY 14 and Q4 FY 14. It was Rs.202.22 laKhs for FY 2014.

During the Quarter, Agila Pharma BV Netherlands, a step down subsidiary of the company has acquired select European Business of Actavis. The consolidated results for Q1 FY 15 includes this (of Actavis)

On 13.09.13, It was decided to transfer the injectables business to its wholly owned subsidiary CurePro Parenterals Ltd w.e.f  1-4-2014.It is subject to various approvals and not given effect to in this results.

The company has reassessed useful lives of various assets and has charged additional depreciation of Rs.17.23 cr in standalone and Rs.17.13 Cr in consolidated results in current Quarter.

Further, based on transitional provisions in Note 7(b) of Sch.II, an amount of Rs.18.57 cr (Net of deferred tax) has been adjusted in the retained Earnings.

The Board has approved an interim dividend of Rs.1.50 (150%) per equity share of Rs.1.

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