Parabolic Drugs Ltd., a vertically integrated API manufacturer and exporter in India, announced the unaudited results for quarter ended 31st December, 2011.
• The Company’s sales increased by 81.71% to Rs. 298.85 crore as compared to Rs. 164.46 crore in Q3 FY 11. Out of the total sales in Q3FY12, the manufacturing sales are Rs. 170.56 crore while the outsourcing sales are Rs. 128.29 crore.
• The outsourcing of products will generate additional capacities that will be utilized for producing higher value molecules.
• Net profit at Rs. 12.82 crore as compared to Rs. 12.48 crore in Q3 FY 11
• EBITDA increased by 33.05% to Rs. 42.05 crore as compared to Rs. 31.61 crore in Q3 FY 11
Major operational highlights for Q3 FY 12
During the third quarter, the company has initiated production at its greenfield site in Lalru for the development of lifestyle drugs and non-antibiotics. The site is spread across 27 acres, dedicated to manufacture non-antibiotic APIs in the new therapies such as CVS, CNS, oncology, antithrombotic, anti-diabetic and pain management. The company is planning eight molecules to be launched in the upcoming quarters with a total product pipeline of 17 molecules to be launched from this site over a three-year period There has been considerable increase in the regulated sales, with 41% regulated exports to total direct exports. The upsurge has largely come due to increased sales to Germany, Switzerland, Turkey, Italy, Netherland and China. In the formulations pace, under its division ‘Nucleus’ , the company now has a wide basket in all finished forms for over 130 products across different therapies with a distribution network of 16 distributors, 469 stockiest in over 20 states.
Parabolic Drugs Ltd., incorporated in 1996, is promoted by professionally qualified first generation entrepreneurs. It is engaged in manufacturing, including contract manufacturing, of APIs and API intermediates for domestic and international markets.