Elder Pharmaceutical Ltd. Posts Good Results For Q1 Ended Jun'10 - Net Profit Up By 64%

Published: Jul 27, 2010

Elder Pharmaceuticals Ltd, (NSE SYMBOL – ELDERPHARM) an integrated pharmaceuticals company headquartered in Mumbai, has posted excellent standalone results for the first quarter ended June 2010 (Q1 FY2011). As per the unaudited provisional standalone results taken on record on 27th July 2010, the income from operations has gone up to Rs 191.09 India -- Crore for Q1 FY2011 as compared to Rs. 162.90 Crore during the corresponding quarter in the previous year. The operating profit (PBIDT) too has gone up to Rs 39.50 Crore for Q1 FY2011 reflecting a growth of 46% over the previous corresponding quarter’s figure of Rs 26.97 Crore. The Net Profit too has gone up to Rs 18.87 Crore (previous year’s quarter - Rs 11.48 Crore) – a jump of 64%. The EPS on a non – annualized basis comes to Rs 10.01.

The various international alliances of the company, new manufacturing facilities, launch of newer products, penetration into Rural & Semi-Urban markets and strong growth in the traditional products have contributed to the company’s better working.

During the quarter ended June 2010, Elder commenced commercial operations at its new state-of-the-art, US FDA compliant manufacturing facility located in the excise free zone at Langa Road, Dehradun (Uttarakhand), added marketing personnel to strengthen its existing field force, hiked stake in its Bulgarian subsidiary to 61% and launched Ecozyme, a nutraceutical and Elder NRT, a smoking cessation product.

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).

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