Ind-Swift Ltd. net zooms by 119% in FY'05
Ind-Swift Ltd., a Chandigarh based Rs. 250-crore pharmaceutical Company, notched up excellent performance during the year ended March 2005 with significant jump in net profit and earning per share. The net profit went up sharply by 119 per cent to Rs. 28.12 crore from Rs. 12.86 crore in the previous year. The sales increased by 16 per cent to Rs. 246.62 crore from Rs. 212.49 crore. The other income touched to Rs. 11.59 crore as against Rs. 1.79 crore in the last period.
Though the interest charges increased by 22.2 per cent to Rs. 6.83 crore and depreciation by 19 per cent to Rs. 1.13 crore, its net profit before taxation moved up by 114 per cent to Rs. 32.33 crore from Rs. 15.11 crore.
The Company has entered into critical care segments of anesthesiology, oncology and surgery by creating a dedicated division called "Resurgence". The Company is also entering herbal prescription drug by creating super speciality herbal division to address diseases for which there is not allopathic cure available. It also intends to enter into high value niche segments such as nephrology and neuropsychiatry and later in to medical devices segments, especially orthopedic and dental equipments. It is planning to create nine marketing divisions to address different segments and strengthen its marketing divisions by doubling employee strengths.
Ind-Swift Ltd. is in process of forging alliances with originators whoa re not present in India and are willing to license their products for Indian markets. It will be easy for the Company to take support from its group Company Ind-Swift Laboratories to supply low cost APIs. Further, it is also planning to out-license its products and NDDS to domestic as well as global players. Players, Ind-Swift has forged agreements with leading domestic Companies including Ranbaxy and Lupin for Nitazoxanide, an anti-diarrheal drug launched for the first time in India after successful clinical trials.
The Company has received a US patent for NDDS of macrolide anti-biotic drug. This is the fourth product from the Company stable under NDDS for patient convenience and filed patents for two of its products on NDDS. The R&D division of the Company is working on developing 12 new molecules. It is also focusing on CRAMS as a significant growth driver. |