Elder Pharmaceuticals Ltd (NSE– ELDERPHARM) an integrated pharmaceuticals company headquartered in Mumbai has posted excellent results for the third quarter ended Dec 2010 (Q3 FY2011). As per the consolidated unaudited provisional results taken on record on Feb 7th, 2011, the income from operations has gone up to Rs 251.54 Crore for Q3 FY2011 as compared to Rs. 179.99 Crore during the corresponding quarter in the previous year. The consolidated operating profit (PBIDT) too has gone up to Rs. 45.01 Crore for Q3 FY2011 reflecting a growth of 23% over the previous corresponding quarter’s figure of Rs. 36.50 Crore. The consolidated Net Profit too has gone up to Rs. 15.83 Crore (previous year’s quarter – Rs. 15.37 Crore) – a spurt of 3%. The consolidated EPS on a non – annualized basis comes to Re. 8.34.
For the nine months ended Dec 2010, the consolidated sales turnover is Rs. 656.48 Cr (previous nine months – Rs. 512.28 Cr) up by 28% and the net profit is Rs. 46.19 Cr (previous nine months – Rs 38.45 Cr) up by 20%.
During the quarter under review, Elder Pharma received accreditation from Ministry of Health-Japan for its API [Active Pharmaceutical Ingredients] plant at Patalganga, Maharashtra opening up the fast-growing Japanese markets for the companies products. This accreditation is considered to be very difficult to get as only companies with the very best of infrastructure and quality are able to get this accreditation. “This accreditation for the API plant is a step towards strengthening Elder’s position as a supplier of APIs and intermediates in the Japanese market,” informed Mr. Alok Saxena, Director, Elder Pharmaceuticals Limited.
The Company has launched Shelcal K which is a combination of Calcium with high dosage of Vitamin K, prescribed in severe established cases of osteoporosis with a pre-existing vertebral fracture. Contribution from the Langa Road facility (Uttaranchal), launch of new products, penetration into Rural & Semi-Urban markets and strong growth in the traditional products have contributed to the company’s better working.
Elder Pharmaceuticals has presence in niche therapeutic segments like Women’s healthcare, Wound care, Nutraceuticals /vitamin Supplements, Cardiology, Diabetes, Dermatology, Antibiotics and neurology. It is the market leader in calcium supplements (Shelcal), wound healing and injectable B12 vitamin. The company has a judicious mix of drug formulations, and active pharma ingredients (APIs). It has 6 manufacturing plants in India located in Maharashtra, Uttarakhand & Himachal Pradesh. The company has a state-of-the-art Research & Development Centre at Navi Mumbai which is recognized by the Department of Scientific & Industrial Research, Ministry of Science & Technology. (www.elderindia.com).
Mitesh M Kapadia
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