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Quaterly Results (MARCH' 2005)

Investors

UNAUDITED FINANCIAL RESULTS (PROVISIONAL) FOR THE QUARTER ENDED 31ST MARCH, 2005
PARTICULARS
QUARTER ENDED 31.03.2005 UNAUDITED
QUARTER ENDED 31.03.2004 REVIEWED
ACCOUNTING YEAR ENDED 31.03.2005 UNAUDITED
ACCOUNTING YEAR ENDED 31.03.2004 AUDITED
INCOME FROM OPERATION
6369.30
5845.77
24662.24
21248.64
OTHER INCOME
60.15
114.92
1159.21
178.89
TOTAL INCOME
6429.45
5960.69
25821.45
21427.53
TOTAL EXPENDITURE
5599.03
5312.71
21792.86
19262.84
DECREASE IN STOCK IN TRADE
-585.31
-1247.98
1094.47
-1884.50
CONSUMPTION OF RAW MATERIAL
5359.84
5639.12
17359.44
18108.87
COST OF SALES
4774.53
4391.14
18453.91
16224.37
STAFF COST
153.61
223.93
725.89
696.55
OTHER EXPENSES
670.89
697.64
2613.06
2341.92
INTEREST
194.72
155.31
682.68
558.71
DEPRECIATION
30.31
23.59
112.92
94.99
PROFIT BEFORE TAX
605.39
469.08
3232.99
1510.99
PROVISION FOR TAX
45.54
33.92
163.97
113.32
PROVISION FOR DEFERRED TAX
82.18
23.26
257.00
100.91
INCOME TAX FOR THE PREVIOUS YEAR 0.00 10.75 0.00 10.75
NET PROFIT
477.67
401.15
2812.02
1286.01
PAID UP EQUITY SHARE CAPITAL
727.57
571.57
727.57
571.57
RESERVES EXCLUDING REVALUATION RESERVES
EPS - Rs. ANNUALISED
7.81
7.02
45.98
23.44
AGGREGATE OF NON-PROMOTERS SHAREHOLDING
NUMBER OF SHARES
4758295
2939443
% OF SHARE HOLDING
65.40%
63.56%
NOTES:

1. During the financial year 2004-05 the net profit of the company rose by 118.66% and total turnover rose by 20.51%. During the quarter under review, the net profit rose by 19% and the income from operations rose by 9% as compared to the corresponding quarter of the previous year.

2. 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 specialty herbal division to address diseases for which there is no allopathic cure available. The company also intends to get into high-value niche segments such as nephrology and neuropsychiatry and later into the medical devices segments, especially orthopedic and dental equipments. The company plan to create total nine marketing divisions to address different segments and strengthen its marketing divisions by doubling employees’ strengths.

3. Considering the company’s strong distributor’s network, it is in process of forging alliances with originators who are not present in India and are willing to license their products for Indian markets (supported by manufacturing strengths of group company Ind-Swift Laboratories Limited (ISLL) to supply low cost API) to make and market those products in India. On other hand company also plans to out-license its products and NDDS to domestic as well as global players. The company has forged agreements with leading domestic companies including Ranbaxy and Lupin for Nitazoxanide, an anti – diarroheal drug launched for the first time in India after successful clinical trails.

4. The company has received a US patent for New Drug Delivery System (NDDS) of a macrolide anti-biotic drug. This is the fourth product from the company stable under NDDS for patient convenience and compliance, which has earned distinction for the company. In addition to this, the company has already filed patents for two of its products based on NDDS. The R&D of the company is working on developing 12 new molecules for launching with NDDS, which are in different stage of R&D. These new products are from the high growth therapeutic segments of Cardiology, Diabetology, Neurology, Cancer, Anti – Asthmatic etc.

5. Continuous introduction of new API molecules by group company have provided excellent opportunities to the company in terms of dosage contract manufacturing along with providing technical dossier for a speedy launch of their products to market. This opportunity is available for all molecules.

6. The company is focusing on CRAMS as a significant growth driver. The company has embarked expansion plans which include setting up a state of the art regulatory compliant dosage form facility to cater the advanced markets, setting up another new dosage form facility to cater domestic and soft regulated market, some acquisitions in health care sector and an entry into clinical research operations.

7. The company had received ¬¬¬7 complaints during the quarter under review which were duly redressed to the satisfaction of the shareholders during the same quarter and as such, there were no pending complains as on 31st March, 2005.

8. In the Board meeting held on 31st March, 2005, 11,60,000 equity shares have been allotted to the promoter company and outside bodies corporate upon conversion of equal number of Zero Coupon Optionally Convertible warrants. Accordingly, the EPS has been calculated on weighted average basis.

9. The company is exclusively in the pharmaceutical business segment.

10. The above financial results were taken on record by the Board in its meeting held on 30th April, 2005.
 
By Order of the Board
 
Dated: 30.04.2005
 
(Gopal Munjal)
Place: Chandigarh
 
Chairman
 


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