Mumbai, January 25, 2012:
Financial Results for Q3 2011-12. Financial Performance:
The financial results for the quarter/nine months ended
December 2011 are strictly not comparable with the results of
the respective corresponding period in the previous year due
to divestment of Russia-CIS OTC business during the year,
which was significant part of the business.
During the quarter, the net sales at Rs. 149.55 crores were
30.98% lower Y-o-Y. The domestic formulations business and
Rest of the world exports registered Y-o-Y growth of 14.23%
and 52.37% respectively during the quarter. The expansion of
field force in metro cities-rural markets and introduction of
new products has helped achieve growth in the domestic
formulations business, besides continued focus on growth
brands and continuing concentration on enhancement of
productivity. The Rest of the word exports grew on account of
better traction in the key markets.
The quarter under review show further sharp depreciation of
Rupee against US Dollar, and consequently the company not
only suffered loss of Rs. 10. 39 crores but also had to make
mark-to-market provision of Rs. 23.27 crores. This has
resulted in loss of Rs. 5.17 crores at PAT level. The company
is taking steps to minimize exchange fluctuation impact going
forward.
The summary of financial performance for the period of nine
months ended
December 2011 is as under:
(Rs. in crores)
Net Sales | 487.77 |
EBIDTA | 111.31 |
PAT | 633.33* |
*includes exceptional income on sale of Russia-CIS OTC business.
Business Initiatives:
The company remains fully focused on domestic formulations
business and has taken initiatives such as increase in field
force, new products launches, and entry into new and
strengthening of the existing markets for scale up and growth
in this business and the company is quite confident of
achieving new growth in this business segment. The Rest of
the world exports have been consistently performing well.
Lucrative site transfer opportunities, inorganic pursuits for
building new base, acquisition of new dossiers and filing of
new ANDAs for expanding growing US business are some of the
initiatives being considered for scale up of the Rest of the
world exports. Post sale of OTC business, the prescription
products business in Russia-CIS is under restructuring
process to make the same more profitable.
The cash surplus on the balance sheet has been invested in
debt schemes of mutual funds and bank deposits, and will be
used for growth of existing pharmaceuticals business.
The company is fully committed to enhancing shareholder
value, and is confident of delivering through desired growth
through new business initiatives, enhancement of efficiency
and productivity across the organization and stringent cost
control.
About JBCPL:
JBCPL, one of India's leading pharmaceutical companies,
manufactures & markets a diverse range of pharmaceutical
formulations, herbal remedies and API's. 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, Australia and Brazil. JBCPL has a
strong R & D set-up for development of NDDS formulations,
filing of DMF's and ANDA's. Its State-of-the-Art
Manufacturing facilities are approved by renowned
international regulatory authorities.
For more information on JBCPL visit our website at www.jbcpl.com. For more details,
you may contact:
M.C. Mehta
Company Secretary- General Manager
J. B. Chemicals & Pharmaceuticals Ltd.
91 22 3045 1311
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Forward Looking Statements:
This Press Release may contain Forward Looking Statements regarding future events and future performance of
J.B. Chemicals & Pharmaceuticals Ltd. that involve risks and uncertainties that could cause actual results to
differ materially from those that may be indicated by such statements.
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Press Release - Financial Results for Q3 2011-12 |