K Raghavendra Rao, chairman and managing director, Orchid Chemicals says the company has approached State Bank of India to delay the repayment of its USD 300 million debt.
State-owned Allahabad Bank on Tuesday (May 7 2013) announced its fourth quarter earnings. It posted a 68.5 percent decline in net profit at Rs 126.15 crore on account of rise in bad loans. However company‘s non-performing assets (NPAs) have increased by about Rs 1,600 crore.
K Raghavendra Rao, chief managing director, Orchid Chemicals and Pharmaceuticals says the company will continue to supply Cephalosporin to regulated markets including US.
K Raghavendra Rao, chairman and managing director, Orchid Chemicals and Pharmaceuticals is optimistic on the company's performance in the next quarter.
Shares of Orchid Chemicals were on the rise after the pharmaceutical company sold its penicillin and penem business to US-based Hospira Inc for USD 200 million.
After not so impressive results and a fall in Q4 net profit by 75%, K Raghavendra Rao, CMD, Orchid Chemicals said that the company‘s topline and bottomline performance has been affected mainly due to the repayment of Foreign Currency Convertible Bonds (FCCB).
Orchid Chemicals and Pharmaceuticals expects its sales will grow at a slower 20% than the 25% it had seen earlier.
K Raghavendra Rao, CMD, Orchid Chemicals tells CNBC-TV18 that high interest costs and forex losses impacted the company’s earnings.
K Raghavendra Rao, chairman and managing director, Orchid Chemicals spoke to CNBC-TV18 about the fund-raising the company has undertaken and strategies of the company going ahead.
Orchid Chemicals reported its second quarter results for FY11. The drug company posted a net profit at Rs. 23.4 crore for the quarter ended September 2011 versus Rs 24 crore in the corresponding period last year.
In an interview to CNBC-TV18, K Raghavendra Rao, managing director of Orchid Chemicals & Pharmaceuticals Ltd, said a fire took place last morning in one of the laboratories of basic research wing. However, he said, operations are not impacted by fire. “There is no impact on the commercial aspect of business.”
Orchid Chemicals seems to be in a bad situation. K Raghavendra Rao, managing director, Orchid Chemicals & Pharmaceuticals is concerned that raising equity might be difficult at this point.
K Raghavendra Rao, MD of Orchid Chemicals & Pharmaceuticals, in an interview with CNBC-TV18’s Udayan Mukherjee and Mitali Mukherjee, said that unless their share price halves, there won't be any impact on the margins.
In an interview with CNBC-TV18, Raghavendra Rao, Orchid Chemicals says, the company is guiding 25% growth in the top-line and more than proportionate growth in bottom-line for FY12. “We should touch about USD 500 million in top-line and more than proportionate growth in bottom-line,” he adds.
Speaking to CNBC-TV18, K Raghavendra Rao, MD, Orchid Chemicals expects to end FY11 with margins of 24% and also sees strong double digit growth in the next fiscal i.e. FY12. The company also sees a revision in earlier topline guidance for FY11 and expects an additional 10% growth in revenue this year.