Ajanta Pharma’s total comprehensive income dips by 23% in Q1 FY 2018

Ajanta Pharma, a specialty pharmaceutical formulation company reported its performance for the 1st quarter ended June 30, 2017.

Q1 FY 2018 performance highlighted income from operations at Rs. 473 crore. against Rs. 476 crore compared to Q1 2017. EBITDA is at Rs. 131 crore. against Rs. 166 crore., down 21 per cent, EBITDA at 28 per cent of revenue. The company reported profit after tax at Rs. 95 crore., 20 per cent of revenue, against Rs. 120 crore., down 21 per cent. Total comprehensive income of the company in Q1 FY 2018 is at Rs. 97 crore. against Rs. 125 crore, down by 23 per cent.

Commenting on the results, Yogesh Agrawal, Managing Director said,"India sales were adversely impacted due to de-stocking by the distribution channel on account of GST, which impacted overall financials of the company. Our export markets continue to perform at steady rate on the back of new product launches and incroreease in the market share. Our both manufacturing facilities have successfully undergone US FDA inspections paving way for ANDA approvals under review with US FDA. Our Phase 2 construction at Guwahati is on target to be commissioned in Q4 of FY 2018."

For Q1 FY 2018, India’s branded generic sales (excluding institution) was Rs. 135 crore. Posting de-growth of 14 per cent. Total India sales (including institution) for Q1 FY 2018, was Rs. 143 crore., de-growth of 12 per cent.

As per IMS MAT June ‘17, the company posted healthy growth of 19 per cent in Cardiology (segment growth of 7 per cent), 18 per cent in Ophthalmology (segment growth of 10 per cent), 7 per cent in Dermatology (segment growth of 16 per cent) and 11 per cent in Pain Management (segment growth of 7 per cent).

During Q1 FY 2018, export sales were Rs. 321 crore., posting growth of 8 per cent. Africa contributed Rs. 168 crore., de-growth of 13 per cent, Asia contributed Rs. 96 crore., growth of 4 per cent and US contributed Rs. 54 crore. growth of 463 per cent.