SeQuent Scientific, a leading integrated pharmaceuticals company, reported an increase of 51.55% in total revenues to Rs. 64.73 cr for the third quarter ended 31st December 2009 as compared to the corresponding period in the previous year. The company’s EBIDTA recorded a 94.25% increase to Rs. 11.89 cr.
EBIDTA margin gained 404 basis points (bps) to 18.37% on account of better realization from specialty chemicals during the quarter. On account of higher depreciation and taxation liability, the company’s net profit increased by 14.93% to Rs. 3.52 cr during the period under review. On the other hand, the cash profit for the Q3 increased by 75.08% to Rs. 6.76 cr.
In terms of the performance related to 9 months ended 31st December 2009, the company’s total revenues and net profit registered increase of 48.42% to Rs. 192.25 cr and 197.07% to Rs. 18.90 cr, respectively.
During the quarter the company decided to merge its wholly-owned subsidiaries Vedic Elements Private Ltd and Sequent Research Ltd with itself w.e.f. 1st April, 2009. The Company is in the process of obtaining necessary approvals.
About SeQuent Scientific
SeQuent Scientific, an integrated pharmaceuticals company with a global footprint, is a leading Indian active pharmaceutical ingredient company having presence in Human and Veterinary segments. The world’s largest producer of Anthelmentic APIs, SeQuent is also amongst India’s growing Custom Research and Manufacturing Services (CRAMS) provider.
Established in 1996 as Strides Research & Specialty Chemicals Ltd but started operating as SeQuent since 2007 under a new management team. Subsequent to a management buy-out of P.I. Drugs w.e.f. 1st April, 2008 as per Court’s order dated 16th June 2009 and subsequent name change, SeQuent is now listed on the Bombay Stock Exchange (Scrip Code: 512529).
