VENUS
REMEDIES
RESULTS FOR Q2 FY 2013
Q/E SEP 2012
Sales up 15.3%; Net Profit Up 28.34 % YoY
VENUS
REMEDIES has declared GOOD RESULTS for the second quarter ending SEP, 2012.
Gross
Sales for Q2,FY 13
stands at Rs.110.66 Cr; down by -1.52% from Q1 FY 13 (Rs.112.38 Cr); and up by
15.37% from Q2 FY 12 (Rs.95.92 Cr).
Total
Income (Less :Excise Duty) for
Q2,FY 13 stands at Rs.110.41 Cr down by -1.45% from Q1 FY 13 (Rs.112.034 Cr) ;
and up by 15.3% from Q2 FY 12 (Rs.957.6 Cr).
Total
Income for Q2,FY 13 stands at Rs.110.813 Cr down by -1.56%
from Q1 FY 13 (Rs.112.572 Cr); and up by 15.3% from Q2 FY 12 (Rs.9.611 Cr).
Raw
Materials for
Q2,FY 13 stands at Rs.65.218 Cr down by -0.03% from Q1 FY 13 (Rs.65.237 Cr); up by 24.51% over Q2 FY 12 (Rs.52.38 Cr)
Total
expense for Q2,FY 13 stands
at Rs.90.001 Cr down by -0.68% from
Q1 FY 13 (Rs.90.621 Cr);but up by 17.12% from Q2 FY 12 (Rs.76.845 Cr)
Profit from operations for
Q2,FY 13 stands at Rs.20.812 Cr down by -5.19%
from Q1 FY 13 (Rs.21.951 Cr); and up by 8.03% from q2 FY 12 (Rs.19.265 cr)
Profit
before Interest for Q2,FY 13 stands at Rs.21.081 Cr
down by -4.51% from Q1 FY 13 (Rs.22.077
Cr);and up by 9.22% from Q2 FY 12 (Rs.19.301 cr).
Finance
Costs for
Q2,FY 13 stands at Rs.5.372 Cr down by -29.46 % from Q1 FY 13 (Rs.7.615 Cr);
and also down by -17.05% from Q2 FY 12 (Rs.6.476 Cr).
Profit
before tax for
Q2,FY 13 stands at Rs.15.709 Cr; up by 8.62% from Q1 FY 13 (Rs.14.462 Cr); but
up by a good 22.49% from Q2 FY 12 (Rs.12.825 Cr)
Tax Expense for Q2,FY 13 stands at Rs.0.617 Cr
up by 47.96% from Q1 FY 13 (Rs.0.417
Cr); but down by -42.12% from Q2 FY 12 (Rs.1.066 Cr).
Net
Profit for Q2,FY 13 stands at Rs.15.092 Cr ; up by 7.45% from Q1 FY 13 (Rs.14.045 Cr); and up
by a GOOD 28.34% from Q2 FY 12 (Rs.11.759 Cr).
Paid Up Equity
stands at Rs.9.742 Cr. Public holding% in the company is healthy at 66.08%.
Basic EPS for
Q2,FY 13 stands at Rs.15.49 on a FV of Rs.10 ;compared to Rs.14.42 in Q1 FY 13;
and Rs.12.86 in Q2 FY12.
Basci EPS -
Annualised for Q2,FY 13 stands at Rs.61.97 in Q2 FY 13;
against Rs.57.67 in Q1 FY 13; and Rs.51.45
in Q2 FY 12.
The current Market price is around Rs.309. At this price,
the annualized EPS yields a PE Ratio of
4.99.
The YoY Growth is very Good in terms of both sales (15.3%)
and net Profits (28.34%).The PE Ratio does not yet seem to discount its future
Potential. The company’s market
valuations can be expected to pick up with every quarter.
Given better marketing efforts by the company and given its
impressive array of products and Patents, the company can be a good bet for
Medium to long term Investors.
During the quarter, the company secured its first patent from Canada for novel antibiotic 'Vancoplus'. It has launched its anti-arthritic pain product in India during the quarter. A list of its Patents and other achievements is provided below the results Table.
Venus has three
manufacturing units in Panchkula, Baddi and Werne in Germany.
QUARTERLY RESULTS TABLE
VENUS REMEDIES
|
Q2FY13
|
%Dif QoQ
|
Q1FY13
|
%Dif YoY
|
Q2 FY12
|
Gross Sales
|
1106.63
|
-1.52
|
1123.75
|
15.37
|
959.21
|
Less :Excise Duty
|
2.52
|
-26.1
|
3.41
|
56.52
|
1.61
|
Total Income
|
1104.11
|
-1.45
|
1120.34
|
15.3
|
957.6
|
Other Optg Income
|
4.02
|
-25.28
|
5.38
|
14.86
|
3.5
|
Total Income
|
1108.13
|
-1.56
|
1125.72
|
15.3
|
961.1
|
Raw Materials
|
652.18
|
-0.03
|
652.37
|
24.51
|
523.8
|
Total expense
|
900.01
|
-0.68
|
906.21
|
17.12
|
768.45
|
Profit from
operations
|
208.12
|
-5.19
|
219.51
|
8.03
|
192.65
|
Other income
|
2.69
|
113.49
|
1.26
|
647.22
|
0.36
|
Profit before Interest
|
210.81
|
-4.51
|
220.77
|
9.22
|
193.01
|
Finance Costs
|
53.72
|
-29.46
|
76.15
|
-17.05
|
64.76
|
Pront after Inerest
|
157.09
|
8.62
|
144.62
|
22.49
|
128.25
|
Profit before tax
|
157.09
|
8.62
|
144.62
|
22.49
|
128.25
|
Tax Expense
|
6.17
|
47.96
|
4.17
|
-42.12
|
10.66
|
Net Profit
|
150.92
|
7.45
|
140.45
|
28.34
|
117.59
|
PdUpEquity
|
97.42
|
0
|
97.42
|
6.56
|
91.42
|
Basic EPS
|
15.49
|
7.42
|
14.42
|
20.45
|
12.86
|
- Annualised
|
61.97
|
7.46
|
57.67
|
20.45
|
51.45
|
Public holding%
|
66.08
|
0.76
|
65.58
|
-5.45
|
69.89
|
HALF YEARLY RESULTS TABLE
VENUS REMEDIES
|
HY1FY13
|
HY1FY12
|
YoY%
|
FY12
|
Gross Sales
|
2230.38
|
1949.96
|
14.38
|
4023.91
|
Less :Excise Duty
|
5.93
|
3.65
|
62.47
|
7.38
|
Total Income
|
2224.45
|
1946.31
|
14.29
|
4016.51
|
Other Optg Income
|
9.4
|
4.88
|
92.62
|
35.3
|
Total Income
|
2233.85
|
1951.19
|
14.49
|
4051.87
|
Raw Materials
|
1304.55
|
1146.16
|
13.82
|
2350.71
|
Total expense
|
1806.22
|
1538.03
|
17.44
|
3231.52
|
Profit from
operations
|
427.63
|
413.16
|
3.5
|
820.35
|
Other income
|
3.95
|
0.77
|
412.99
|
3.8
|
Profit before Interest
|
431.58
|
413.93
|
4.26
|
824.15
|
Finance Costs
|
129.87
|
125.75
|
3.28
|
272.64
|
Profit after Interest
|
301.71
|
288.18
|
4.69
|
551.51
|
Profit before tax
|
301.71
|
288.18
|
4.69
|
551.51
|
Tax Expense
|
10.34
|
34.41
|
-69.95
|
51.22
|
Net Profit
|
291.37
|
253.77
|
14.82
|
500.29
|
Reserves
|
N. A .
|
N.A.
|
3,003.48
|
|
Basic EPS
|
29.91
|
27.76
|
7.74
|
51.35
|
- Annualised
|
59.82
|
55.52
|
7.74
|
51.35
|
ACHIEVEMENTS OF VENUS REMEDIES IN 2 YEARS
DATE HEADLINE
29 Oct 2012 : Bags first Mexican patent for research
product – “Vancoplus®”
28 SEP 2012 Wins Prestigious Patent award in Silver
Category for 2011-12 at India-Asia Pacific Pharma Business meet, organized by
Pharmaexcil
18 SEP 2012 Wins Manufacturing Leadership Award
2012 for its world class manufacturing and operational excellence at the “Industry
2.0 Manufacturing Innovation conclave 2012”.
10 SEP 2012 Bags First Patent From Canada For its
Novel antibiotic adjuvant entity - VANCOPLUS
22 AUG 2012 Launches TROIS, a miracle nano-emulsion
for arthritic Pain – in the Indian Markets.
26 Jul 2012 Gets 3rd US patent for its
novel antibiotic product -POTENTOX
9 Jul 2012 Introduces for the first time a
nano-technolgy based “Ready-to-Use”
Single Vial Docetaxel in the domestic market under brand name - Taxedol
5 Jun 2012 Venus drug to fight resistant
superbugs wins US Patent
22 May 2012 Bags another patent grant from South
Africa
24 Apr 2012 Venus Remedies with an Innovative
Solution for alleviating cancer
10 Apr 2012 “Vancoplus®” gets Patent from
Australia
19 Mar 2012 ACHNIL receives BioSpectrum Product of
the Year 2012 award
6 Feb2012 To enter Japan market with patent
approval for its novel research product ‘Vancoplus’
14 Dec 2011 Wins “Emerging company of the year 2011”
award
6 Dec 2011 Wins India Manufacturing Excellence
Award 2011
15 Nov 2011 Receives Market Authorisation approval
for Meropenem in UK & New Zealand
2 Nov 2011 Wins 2011 Spotlight Award for its
Annual Report in San Diego, USA
5 Oct 2011 Pharmexcil felicitates Venus Remedies
with patent award in Gold category
29 AUG 2011 Venus Remedies’ anti cancer product
DOCETAXEL receives market authorisation in Europe
3 AUG 2011 NOVEL RESEARCH PRODUCT VANCOPLUS
RECEIVES US PATENT
11 Jul 2011 Launches patented research product
“ACHNIL” in India
24 May 2011 ’ “achnil”, once-a-day painkiller, gets EU
patent
11 May 2011 Wins gold medal for trois under dst-
lockheed
26 Apr 2011 Successfully completes phase i & ii
clinical trials of
4 Apr 2011 Wins qc-100 tqm (total quality
management)
17 Mar 2011 Spreads its wings in GCC. first indian
company to receive GCC
24 Feb2011 sulbactomax” patent from mexico
strengthens venus remedies’ presence in latin america
2 Feb2011 Anti-cancer drug “gemcitabine” gets UK
MHRA approval
27 Dec 2010 To expand innovations basket with
sulbactomax patent from Russia & Ukraine
8 Dec 2010 Successfully completed phase iii clinical
trials of new aminoglycoside molecule
29 Nov 2010 Bagged vancoplus patent from south
africa & new zealand
3 Nov 2010 Becomes first india company to get GMP
certification from
18 Oct 2010 Secures patents from australia and
ukrain for its reseach product “potentox”
28 SEP 2010 Bags compulsory license from thai
government for the
14 SEP 2010 Research blockbuster “sulbactomax“ gets
EU patent
5 AUG 2010 grant of another market authorization
for its carbapenem injection in protugal to german arm of venus remedies
limited
20 Jul 2010 Gets GMP accreditation from Sudan for
its seven super specialty injectable manufacturing facilities
28 Jun 2010 Enters Australasia region with grant of
patent for potentox from New Zealand
15 Jun 2010 US-based lockheed martin foundation, Texas
university to assist venus remedies to market ampucare a miraculous wound
healing product of the company in us ampucare receives ficci gold medal for
best innovation
3 May 2010 Ties up with imtech and panjab univ to
develop typhoid detection kits revolutionary kit to bring down typhoid
detection time from 48 hours to few minutes
9 Apr 2010 Receives GMP certification from Botswana
15 Mar 2010 sulbactomax a ceftriaxone sulbactam
combination patent granted to venus in India
8 Mar 2010 venus remedies’ fccb holders arrive at
amicable settlement
22 Feb2010 venus remedies’ German arm gets approval to market carbapenem injection in portugal
4 Feb2010 Receives GMP certification from Ethiopia
12 Nov 2009 venus bags another product patent from
south africa for potentox
23 SEP 2009 venus outlicensed “sulbactomax “ to South
Korea
8 SEP 2009 First Indian product patent granted
to venus remedies for potentox
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