Hikal Ltd Q4 net sales up by 14.4% to Rs 66.2cr

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Hikal Ltd ., the preferred long-term outsourcing partner for leading global life sciences companies, today announced its financial results for the quarter and year ended 31 March 2007.

 

Performance highlights for the Quarter ended 31 March 2007

 

Net sales up by 14.4% to Rs. 66.2 crore

PAT for the quarter increases by 7.9% to Rs. 13.4 crore

EBIDTA up by 9.9%. to Rs.19.9 crore

Pharma sales up by 52%

 

Commenting on the results, Jai Hiremath, Vice Chairman & Managing Director, Hikal Ltd., said, "Our efforts to restructure has started yielding results and I am pleased to announce that our sales for the quarter have shown significant increase in volume and value. The growth in the last quarter is attributed to improved operating margins and growth in the pharma business."

 

He further mentioned, "We have witnessed 14.4% growth in overall turnover while pharma growth for the quarter was at 52%. Moving forward, I expect the pharma sales to grow substantially in the coming year."

 

Performance Highlights - FY 2006 - 07  

 

The company has been able to maintain sales by increasing volumes and signing new contracts. For the year ending March 31, 2007, net sales are at Rs. 233.7 crore, an increase of 1.2% over the previous year and Profit before Tax is Rs. 37.2 crore compared to Rs. 38.2 crore in the previous year.

 

Hikal has recently upgraded the R&D facility at Bangalore and increased the number of laboratories to carry out contract research activities for innovative companies. The company has also commenced construction activities to set up a new multipurpose commercial plant at the Taloja site.

 

Overview of Major Subsidiaries and Associate Companies

 

Marsing & Co. Ltd. A/S, Denmark

The restructuring efforts at Marsing are bearing fruit and the company has started showing improved performances from this quarter onwards.

  

Sourced From: CMCG India Pvt. Ltd