Parenteral Drugs (India) Ltd., a leading player in intravenous fluid segment in India, today announced its results for the third quarter and nine months ended December 31, 2010 (Q3FY11).
On a consolidated basis, the company’s Q3FY11 net sales jumped 49.6% to Rs. 157.03 crore from Rs. 104.92 crore in the corresponding quarter previous year. Net profit grew by 125.4% to Rs. 18.28 crore in Q3FY11 from Rs. 8.11 crore in the corresponding quarter previous year while EBIDTA increased by 94.3% to Rs 32.00 crore from Rs. 16.47 crore. Earnings per Share (fully diluted) stood at Rs. 7.07 for the quarter ended December 31, 2010.
The company managed to strengthen its EBIDTA margin by 460 basis points to 20.3% during Q3FY11, on account of better operational efficiencies emanating from improved economies of scale and cost control.
| Key performance indicators for Q3 (Rs crore) | |||
| Particulars | Quarter ended 31 December, 2011 | Quarter ended 31 December, 2010 | Change |
| Revenue | 157.03 | 104.92 | 49.60% |
| EBITDA | 32.00 | 16.47 | 102.70% |
| PAT | 18.28 | 8.11 | 125.40% |
The company recently started manufacturing Paracetamol based IV fluid under the brand name of ‘Tamolgan’. PDIL is the first Indian Company to get manufacturing and marketing approval for this product from the Drug Controller General of India (DCGI).
Commenting on the results, Mr. Anil Mittal, Chief Executive of the company said, “Over the years, we have diligently invested into an integrated business model, scaled up capacities, built credible client relationships and created a promising product pipeline. The efforts and investments will not only sustain the pace of growth but also continue to create and deliver value to our stakeholders.”
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For the nine month period ended December 31, 2010 (9MFY11), the company registered a 42.7% increase in consolidated net sales to Rs. 442.47 crore as compared to Rs. 310.15 crore during 9MFY10. EBDITA increased by 73.1% to Rs. 88.81 crore, as compared to Rs. 51.30 crore during 9MFY10. Net profit increased by 80.9% to Rs. 49.21 crore. The Earning per Share (fully diluted) stood at Rs 19.02.
About Parenteral Drugs (India) Limited
BSE Scrip code: 524689 Reuters: PADG.BO Bloomberg: PDI@IN
Parenteral Drugs India Limited (PDIL) is the leading IV fluid producer in India with a capacity of 330 mn bottles per annum and a market share of over 25 per cent. It is the largest supplier of IV fluids to some of the leading government organizations. PDIL is the first Indian company to launch ‘Paracetamol’ as an Intravenous Infusion drug in India. The company has two other divisions- branded formulations and oncology. It has manufacturing presence in two countries, India & Mauritius, with projects coming up in Kenya and Kazakhastan. Its Indian units are located at Indore, Baddi, Goa and Jalandhar.