Parabolic Drugs’ H1 FY12 sales up 39.49 percent

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Parabolic Drugs Ltd., a vertically integrated API manufacturer and exporter in India, announced the unaudited results for quarter ended September 30th, 2011.

Q2FY12 Performance
• The Company’s sales increased by 33.30% to Rs. 215.19 crore as compared to Rs. 161.43 crore in Q2 FY 11
• Net profit at Rs. 14.38 crore as compared to Rs. 14.29 crore in Q2 FY 11
• EBITDA increased by 43.35% to Rs. 42.58 crore as compared to Rs. 29.70 Crore in Q2 FY 11
• The company’s EBIDTA margin was up 154 basis points to 21.77%
• The company’s net profit margin stood at 7.35% in Q2 FY12

H1FY12 Performance
• Sales increased by 39.49% to Rs. 420.66 crore during H1FY12 as compared to Rs. 301.58 crore in H1FY11
• Net profit up 19.12% at Rs. 29.57 crore as compared to Rs. 24.82 crore in H1FY11
• EBITDA increased by 52.20% to Rs. 84.38 crore in H1FY12
• The company’s EBIDTA margin was up 189 basis points to 22.10%
• The company’s net profit margin stood at 7.74% in H1FY12

During the first half of FY 12, the company received an official accreditation from Japan’s Ministry of health, labour and Welfare designating it as a Certified Foreign Drugs Manufacturer for Cephalosporin Oral supplies to Japan which is world’s second largest drugs market. The impact of inflationary pressures across the economy has resulted in frequent interest hike by RBI. This had an undesirable impact on the profitability for the Q2.The company also filed its first DMF in Japan. This is company’s 38th Regulatory filing and first in Japanese market. In the capacity additions, the company successfully accomplished the capacity expansion of its Amorphous production at Derabassi with the commissioning of eighth plant. Amongst the other strategic areas, there have been significant developments in the formulations space and CRAMS operations. The company has also filed its seventeenth patent application to Indian Patents office for a molecule in the Anti-diabetic therapy. In line with the diversified and global growth approach, PDL has advanced its market presence in some new countries chiefly in APAC, Africa and Latin America.

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