TORRENT PHARMA LTD - RESULTS - FOR Q4 AND FY 2013-14 - FOR Q4, REVENUES UP BY 41%YoY; NET PROFIT UP BY 120% - EXCELLENT PERFORMANCE

TORRENT PHARMA LTD

RESULTS FOR Q4 & FY 14

TORRENT PHARMA has released very good results for the 4^th quarter and the year ending March 2014.

Ø  For FY 13-14, revenues stood at Rs.4184 Cr, up by 30% from Rs.3212 Cr. In FY 12-13.

Ø  EBITDA for FY 13-14 stood at Rs.952 Cr up by 37% from Rs.693 Cr during same period last year.

Ø  PAT for FY 13-14 stood atRs.664 Cr up by 53% compared to Rs.435 cr in FY 12-13.

Ø  Dividend is Rs.5 per share. Total Dividend is Rs.10 for the year. It is 30% of consolidated Net Profits.

 QUARTERLY ANALYSIS

Ø  Q4 REVENUES STAND AT Rs.1225 cr, up by 41% from Rs.871 cr in Q4 FY 13

Ø  EBITDA stands at Rs.350 Cr, up by 59% from Rs.220 Cr in Q4 FY 13.

Ø  PBT stands at Rs.317 Cr, up from Rs.159 cr , of Q4 FY 13 by 99%.

Ø  PAT stands at Rs.244 cr, up from Rs.11 Cr of Q4 FY 13, by 120%

Ø  EPS stands at Rs.14.4 against Rs.6.6 in Q4 FY 13, up by 119%.

Ø  Domestic formulations Business recorded revenues of Rs.256 Cr, up by 17%.

Ø  International Business revenues grew by 69% to Rs.887 Cr. Revenues from US operations grew by 335%. After currency adjustments, the growth is 282%.

Ø  Revenue from Europe grew by 19%.Brazil registered De-growth of 4%. Rest of Europe grew by 16%.

The Company has proposed final Equity Dividend of Rs.5 per Eq.Share, making the total dividend of Rs.10 , post issue of Bonus shares in 1 : 1 ratio in July 13. The company has entered into a definitive binding agreement with Elder Pharma to acquire its identified  Branded formulations Business in India and Nepal for Rs.2004 Cr. The process is going on in both companies.

BUSINESS INITIATIVES

During the year, company acquired Indian Branded Formulations Business of Elder for a consideration of Rs.2004 Cr. The transaction is expected to close by first Half of 2014.

CONSOLIDATED RESULTS TABLE

Torrent-consol	Q4FY14	Q3FY14	Q4FY13	Y FY14	Y FY 13
NET INCOME	1225	1015	871	4184	3212
total expenses	898	821	673	3319	2602
Profit from Opns	327	194	198	865	610
Net Profit	244	158	111	664	433
Dil.EPS	14.44	9.34	6.59	39.23	25.58

STANDALONE RESULTS TABLE

Torrent Pharma	Q4FY14	Q3FY14	Q4FY13	Y FY14	Y FY 13
NET INCOME	954	733	770	3365	2767
total expenses	636	581	541	2385	2160
Profit from Opns	318	152	229	980	607
Net Profit	252	114	153	762	546
Dil.EPS	14.89	6.74	9.04	45.05	32.29

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KAJARIA CERAMIC LIMITED - RESULTS FOR Q4 & FY 14 - Q4 NET SALES UP 20% ; Q4 NET PROFITS UP 33% YoY- CONSISTENT PROGRESS - FUTURE MORE PROMISING

KAJARIA CERAMICS LIMITED

RESULTS FOR  Q4 FY14 7 FY 14

KAJARIA CERAMICS has performed excellently for the fourth quarter ending March,2014.

The results are in the table below :

Kajaria Ceramics	Q4FY14	Q3FY14	Q4FY13	Q4dif% YoY	Y FY 14	Y FY 13	Y14Dif%YoY
Net Sales	523.9	427.41	437.14	19.85	1838.75	1582.18	16.22
total income	524.27	427.87	437.29	19.89	1840.04	1583.28	16.22
Total expenses	452.23	373.22	379.8	19.07	1606.33	1383.26	16.13
Profit from Operations	72.04	54.65	57.49	25.31	233.71	200.02	16.84
PBT	67.86	45.25	49.02	38.43	199.18	157.71	26.3
net profit	42.11	29.39	30.77	36.85	124.22	104.51	18.86
Dil.EPS	5.54	3.93	4.18	32.54	16.68	14.2	17.46

Net Sales have gone up by 20% for Q4 YoY, and by 16%% for FY 14 YoY.

Net Profit has gone up by 33% for Q4 YoY and by 17.5% for FY 14 YoY.

Kajaria Ceramics has been performing consistently well and is a GOOD BUY for all Medium to Long term Investors.

Kajaria has recommended Dividend of 175%(Rs3.50 per equity share of Rs2/-each).

During the year, the company has allotted 20lacs equity shares of Rs2/-each @ Rs250/-per equity share and 38,85,420 warrants convertible into equity @257.37 on preferential basis to West Bridge Cross over Fund LLC. A sum of Rs.25 crore has been received as an advance towards the warrants. Fund raised by allotment of shares/warrant has been utilized for the purposes approved by the shareholders.

The company has commissioned 3.40 msm anual capacity of glazed vitrified tile at Sikandrabad on 28^th March 2014.

The Board have approved the following proposals:

a)   To Increase stake in M/s Jaxx Vitrified Pvt Ltd(subsidiary) from 51% to 61% for a sum of Rs.3.50crs.

b)   To acquire 51% stake in Taurus Tiles Pvt Ltd, Morbi(Gujarat) by way of subscribing to the equity share capital of the company. Taurus Tiles is in the process of setting up a plant having 5MSM annual capacity of polished vitrified tiles.

c)    To put up a green field facility in Rajasthan for production of 5 MSM annual capacity of polished vitrified tiles.

d)   Toacquire100%stakeinKajariaBathwarePvtLtd,whichplanstoputupafaucetplant havingacapacityof1.5MillionpcsinGailpur,Rajasthan

e)   To sell 64% stake in Kajaria Sanitaryware Pvt Ltd, Morbi to Kajaria Bathware Pvt Ltd.