Wednesday, February 12, 2014

J.B. Chemicals & Pharmaceuticals Ltd -QUARTERLY RESULTS - THIRD QUARTER -DEC-2013 - NET SALES UP 17%- Net loss due to Exceptional item - Good show without this item - Future Promising -




J.B. Chemicals & Pharmaceuticals Ltd.

J.B. Chemicals & Pharmaceuticals Ltd. (JBCPL) has announced its standalone unaudited financial results for the quarter ended on December 31, 2013.The highlights of the Y-o-Y results are as under:


JB CHEM&PHA
Q3FY14
Dif% QoQ
Q2 FY14
Dif% YoY
Q3 FY13
Net sales

234
-5.26
247
17
200
Other Optg Income
5
-16.67
6
0
5
Total Income
240
-5.14
253
17.65
204
Total Exp

203
9.73
185
9.73
185
Operational Profit
37
-11.9
42
94.74
19
Other Income
21
200
7
200
7
Forex

10
-266.67
-6
42.86
7
Exceptional Item
-64.5




PBT

1.28
-96.82
40.26
-95.9
31.24
Tax

7.75
8.85
7.12
-17.2
9.36
Net Profit

-6.47
-119.52
33.14
-129.58
21.87
FV(Rs)

2
0
2
0
2
EPS

-0.76
-119.44
3.91
-129.46
2.58
EQUITY

16.94
0
16.94
0
16.94

Operating Profit without exceptions/Non-recurring Items

Particulars                Q3                    9 Months
2013-14   2012-13   2013-14   2012-13
Profit before tax 48.13      31.24               115.89     84.91
Profit after tax 30.22        21.87               83.69       65.18

(In Cr)

The total operating revenue for the quarter at Rs. 239.52 crores was 17.24% higher against operating revenue achieved in the corresponding quarter in the previous year, while the profit from operations for the quarter at Rs. 36.91 crores was 90.65% higher against operating profit of the same quarter in the previous year. The company was able to post robust operating performance during Q3 due to higher sales coupled with favourable product mix.


The investors may be aware that Cilag GmbH International ("Cilag") raised certain claims under transaction documents in relation to sale of Russia-CIS OTC business undertaking by the company in July 2011. The company had disputed these claims. However, in order to avoid costs and delays involved in litigation, the company and Cilag mutually settled these claims pursuant to the Settlement agreement. Accordingly, the transaction consideration received earlier was reduced by Rs. 64.50 crores, which sum the company paid to Cilag in July 2013 out of the Escrow account. This settlement has helped the company to focus on the business. This exceptional payment has been accounted for as an expense in the quarter under review, which has affected the reported profits. The Y-o-Y normal business performance is tabulated above for easy analysis.

The domestic formulations business at sales of Rs. 85.77 crores for the quarter registered overall growth of 20.27%, while the year-to-date growth for the business is 16.26%. The concentration on growth of focus products and better field efficiency has helped achieve better performance in the domestic market.

The formulations exports at Rs. 119.21 crores registered growth of 12.33% during the quarter, while the year-to-date growth is 16.05%. Out of this, exports to Rest of the world (RoW) markets at Rs. 100.71 crores for the quarter registered growth of 28.73% in Rupee terms, whereas the year-to-date growth in RoW business is 20.33%. During the quarter, the sales in Russia-CIS region amounted to Rs. 18.49 crores, while year-to-date sales stand at Rs. 69.21 crores.

The API business with sales for the quarter at Rs. 26.41 crores registered growth of 59.20%, while the year-to-date growth in this business is 70.14%.

About JBCPL:

JBCPL, one of India's leading pharmaceutical companies, manufactures & markets a diverse range of pharmaceutical formulations, herbal remedies and APIs. JBCPL exports to many countries worldwide with a strong presence in Russia, Ukraine, CIS countries and South Africa. The Company continues to invest in growing its share in the regulated markets in USA, Europe and Australia. JBCPL has a strong R & D and regulatory set-up for development of new drug delivery system and  formulations, filing of DMFs and ANDAs. Its State-of-the-Art manufacturing facilities are approved by health authorities of regulated markets.

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Sunday, February 9, 2014

SHASUN PHARMACEUTICALS LTD - RESULTS FOR Q3 FY 14 (DEC,2013) - NET SALES UP 20%YoY; NET PROFITS UP 59% YoY



SHASUN PHARMASEUTICALS LTD

RESULTS FOR Q3 FY 2013-14
(DECEMBER,2013)

Shasun Pharamceuticals has reported good results for the third quarter ending December,2013.
Net sales for Q3 FY 14 has gone up well to Rs.309.38 Cr; up by  8.55% from Q2 FY 14 (Rs.285.01Cr); and up by         20.34% from Q3 FY 13 (Rs.257.09 Cr). Thus, sales improvement is very Good.
Profit from operations  for Q3 FY 14 has gone up well to Rs.23.28 Cr; up by 34.49% from Q2 FY 14 (Rs.17.31 Cr); and up by       186.35% from Q3 FY 13 (Rs.8.13 Cr). The expenses have grown but less than proportionately compared to Sales Revenue.
Other income has come down to Rs.3.46 Cr; down by -51.94% from Q2 FY 14 (Rs.7.20 cr); and down by  -57.49% from Q3 FY 13 (Rs.8.14 Cr).
Finance costs has gone up to Rs.  13.78 cr; up by 23.81% from Q2 FY 14 (Rs.11.13 cr; and up by   40.04% from Q3 FY 13 (Rs.9.84 Cr). 
Taking into account the downturn in other income and the upswing in finance costs, Profit  before tax has come at Rs.12.96 cr; slightly down by -3.14% from Q2 FY 14 (Rs.13.38 Cr);  and up by a huge    101.56% from Q3 FY 13 (Rs.6.43 Cr).
Tax expense stands at Rs.8 lakhs compared to Rs(-)4 Lakhs in preceding Qtr and Rs.1.78 Cr in Q3 FY 13.
Net Profit  stands at Rs. 13.04 Cr down by -2.25% from preceding Qtr (Rs.13.34Cr); and up by a good        58.83% from Q3 FY 13 (Rs.8.21 CR).
On a Face Value of Rs.2, Basic EPS for Q3 stands at Rs.2.3 against Rs.2.36 in preceding Quarter and Rs.1.49 in Q3 FY 13.
The annualized EPS works out to Rs.9.2; which yields a Price earning Ratio of   8.7  at the current market price of around Rs.80.

RESULTS TABLE


Shasun Pharma
Q3 FY 14
%dif QoQ
Q2 FY 14
%Dif YoY
Q3 FY 13
Net sales
30938
8.55
28501
20.34
25709
Other operating income
1590
33.95
1187
16.31
1367
Total income from operations
32528
9.57
29688
20.14
27076
Cost of materials
16409
6.72
15376
17.12
14011
stock-in-trade
94
-77.99
427
-3.09
97
Changes in inventories
-839
-54.4
-1840
1298.33
-60
Employee benefits expense
5853
8.23
5408
19.91
4881
Depreciation
1488
-0.67
1498
26.64
1175
Other expenses
6890
2.56
6718
11.87
6159
Total expenses
30200
8.02
27957
14.99
26263
Profit from operations
2328
34.49
1731
186.35
813
Other income
346
-51.94
720
-57.49
814
Finance costs
1378
23.81
1113
40.04
984
Profit  before tax
1296
-3.14
1338
101.56
643
Tax expense
8
-300
-4
-95.51
178
Net Profit
1304
-2.25
1334
58.83
821
Face Value (Rs.)
2
0
2
0
2
Paid-up equity
1133
0
1133
2.72
1103
Basic EPS
2.3
-2.54
2.36
54.36
1.49
Public Holding%
58.03






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