EBITDA margin reported at Rs 1,260 crores
Sun Pharmaceutical Industries at its recently held board meeting in Mumbai has reported financial results for the fourth quarter and year ending March 31, 2013. The net sales / income from operations during Q4 FY13 were at Rs 3,071 crores, showing a growth of 32 per cent over same quarter last year. Branded generic sales in India were at Rs 780 crores. Adjusted for the extra sales recorded in the Q4FY12 as well as the change in treatment of expected sales returns and treatment of discounts, the underlying sales growth of the domestic formulation business is at 16 per cent. US finished dosage sales has been reported at $ 330 million, which grew by 63 per cent (in $ terms) over Q4 last year.
The international formulation sales has been reported at $ 73 million which grew by 13 per cent (in $ terms) over same quarter last year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) is at Rs 1,260 crores which grew by 32 per cent Y-o-Y while sustaining EBITDA margin at 41 per cent. The net profit at Rs 1,011 crores witnessed a growth of 23 per cent over Q4 last year; resulting margin of 33 per cent.
The highlights of FY13 consolidated financials are as follows. The net sales / income from operations is at Rs 11,239 crores, a growth of 40 per cent over previous year. India branded generic sales were at Rs 2,966 crores. Adjusted for the extra sales recorded in the Q4FY12, as well as the change in treatment of expected sales returns and treatment of discounts, the underlying sales growth of the domestic formulation business is at 19 per cent. The US finished dosage sales at $ 1,132 million grew by 56 per cent (in $ terms) over previous year. International formulation sales at $ 281 million grew by 21 per cent (in $ terms) over the same period last year. EBITDA at Rs 4,906 crores grew by 51 per cent Y-o-Y; resulting EBITDA margin of 44 per cent, compared to 41 per cent for previous year. Recurring net profit at Rs 3,591 crores witnessed a growth of 39 per cent over previous year; resulting margin of 32 per cent.
The board has recommended payment of a dividend of Rs 5 per equity share of face value Rs 1 each for the year ended March 31, 2013, subject to approval of members.
Dilip Shanghvi, Managing Director, Sun Pharmaceutical Industries said, “I am pleased to announce that, our sales for FY13 have crossed the $2 billion mark. While it took us almost 27 years to record one billion in revenues, the next billion was added in just three years.”
He further said, “All our businesses continue to perform in-line with our expectations. We continue to focus on building a differentiated and specialty product portfolio and enhancing our international presence. Overall, we shall strive to remain focused on execution and building a business with consistent performance.”
EP News Bureau–Mumbai
