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Cadila Healthcare drops after weak Q4 numbers

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Capital Market
Last Updated : May 16 2014 | 11:50 PM IST

Cadila Healthcare lost 2.11% to Rs 920.45 at 14:28 IST on BSE after consolidated net profit declined 8.74% to Rs 239.19 crore on 22.39% growth in net sales to Rs 1916.33 crore in Q4 March 2014 over Q4 March 2013.

The Q4 result was announced during trading hours today, 16 May 2014.

Meanwhile, the S&P BSE Sensex was up 410.74 points or 1.72% at 24,316.34.

On BSE, so far 16,000 shares were traded in the counter as against average daily volume of 16,000 shares in the past two weeks.

The stock was volatile. The stock lost as much as 3.96% at the day's low of Rs 903 so far during the day. The stock rose as much as 2.07% at the day's high of Rs 959.75 so far during the day.

Cadila Healthcare's consolidated net profit rose 22.97% to Rs 803.59 crore on 14.69% growth in net sales to Rs 7060.07 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).

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Cadila Healthcare said that the topline growth was mainly driven by 30% growth in formulation exports, which was buoyed by 44% growth in sales in the US market and 17% growth in the emerging markets. In the US, the group which is ranked amongst the 8th largest generic companies, launched 7 new products, Cadila said. The group also launched operations in Mexico with launch of 7 products during the year, the company said in a statement.

The group's India formulations business launched more than 75 new products including line extensions, of which 19 were first in India, Cadila Healthcare said. This was a milestone year for the group as it marked the launch of Lipaglyn, the breakthrough therapy to treat diabetic dyslipidemia and India's first NCE to reach the market, the company said in a statement.

Strengthening its regulatory pipeline, the group filed a record 50 ANDAs during the year with the USFDA, taking the cumulative filings to 227. The group received 15 ANDA approvals during the year taking the total to 91 product approvals, Cadila Healthcare said in a statement.

Cadila Healthcare's board of directors at its meeting held today, 16 May 2014, recommended dividend of Rs 9 per share for FY 2014.

Cadila Healthcare is a global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.

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First Published: May 16 2014 | 2:31 PM IST

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