Sequent Scientific Limited (SeQuent), a fast growing active pharmaceutical ingredient company having presence in Human and Veterinary segments and Specialty chemicals, today announced its plans to invest Rs. 150 crore in three new therapeutic segments.
The company will be setting-up three new facilities at a Greenfield site in Bengaluru, Karnataka for which it has signed a Memorandum of Understanding (MoU) with the Karnataka Government at the Global Investors Meet today. The company’s foray into new therapeutic segments will offer high-growth opportunity, in wake of growing demand across these segments. The investments in these new businesses will be made over the next two years.
Commenting on the investments, Mr. K. R. Ravishankar, Chairman and Managing Director, SeQuent, said, “Expansion into the new therapeutic segments will not only enable the company’s presence in high-growth high margin segments but would also strengthen its product portfolio. We expect an exponential demand from these segments in the coming years and therefore, we are investing in these segments at present”.
The company’s revenues for the year ended 31st March 2010 increased by 97.5%, to Rs. 284.5 crore as against Rs. 144 crore in FY2009. APIs accounted for 72% of the company’s revenues, while Veterinary formulations and Specialty chemicals accounted for 7% and 21% respectively. The company’s EBIDTA also improved at Rs. 54.7 crore as against an operating loss of Rs. 7.6 crore in FY2009. The company’s PAT (after minority interest) stood at Rs. 37.4 crore against net loss of Rs. 14.6 crore during FY2009. On an equity of Rs. 21.2 crore, the company’s EPS for the year stood at Rs. 17.62. The company also declared a dividend of Rs. 2 (20%) per equity share of Rs. 10 each for the year ending 31st March, 2010.
About SeQuent Scientific Limited (BSE code: 512529)
SeQuent Scientific Limited, is a fast growing active pharmaceutical ingredient company with global footprints, having presence in Human and Veterinary segments. The company has developed an integrated business model, based on its ability offer niche products and solutions in Human & Veterinary API, Veterinary formulations, Specialty chemicals and CRAMS segments. Headquartered in Mumbai, SeQuent has seven state-of-the-art manufacturing facilities across India, including a world-class research facility in Mangalore, Karnataka. SeQuent’s facilities are ISO and cGMP certified.