Alembic Pharmaceuticals has reported 33.8 percent jump in its Q3FY20 net profit to Rs 227.31 crore against Rs 169.83 crore in December 2018.
The company's net sales rose 18.7 percent at Rs 1,209.13 crore from Rs 1,018.15 crore, year-on-year (YoY).
Earnings before interest, tax, depreciation and amortisation (EBITDA) was up 32.4 percent at Rs 325.46 crore versus Rs 245.75 crore.
Here are key highlights from Alembic Pharma's conference call by Narnolia Financial Advisors:
The company has received eight ANDA approvals during the quarter. It has launched seven products in Q3FY20. The management has guided for more than five launches in the last quarter of the year.
Out of the 26 pending approvals, five to six products are expected to be launched soon, 10-12 products are not viable anymore with respect to the market situations, and another five to six product launches may face a few supply and technical issues.
The sales were impacted as the company decided to completely clamp down on discounts offered to stockist from May 2019. The management expects that in the next two to three quarters, their India business will be back on the growth track.
For the India business, the management has guided that once the comparable base is corrected from the next year, the domestic business is expected to grow at 10-12 percent.
The API sales for the quarter de-grew by 14 percent YoY to Rs 177 crore as the previous year the company had a positive impact from contract manufacturing. Going ahead, the company expects 10-15 percent growth.
Filing Timeline for the new facilities:
Oncology Injectables plant (Panelev) - H2FY21
General Injectables Ophthalmic (Karkhadi) - H2FY20
General Oral Solids (Jarod) - H1FY21
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