Strides Arcolab (BSE: 532531, NSE: STAR) today announced its financial results forthe quarter and year ending March 31, 2015(FY15)
Consolidated Financial & Performance Highlights (Pharma& Biotech)
INR Mn
| Jan-Mar FY13-14 | Q4 FY15 | Growth % | Apr-Mar FY13-14 | FY15 | Growth % | |
| Revenues | 3,400 | 3,405 | – | 11,402 | 12,190 | 7% |
| EBITDA | 561 | 714 | 27% | 1,965 | 2,520 | 28% |
| EBITDA % | 17% | 21% | 17% | 21% | ||
| Adjusted PAT* | 345 | 1,624 | ||||
| PAT Margin % | 10% | 13% | ||||
| Adjusted EPS* | 5.79 | 27.27 |
*PAT & EPS adjusted for income on growth funds not accrued INR 87Mn for Q4 FY15 andINR 382Mn for FY15, excluding merger related expenses of INR 16Mn for Q4 FY15 and INR 109 Mn for FY15 and Capital gains Tax of INR 180Mnfor FY15
*PAT and EPS not comparable with the corresponding periodsin the previous year
Commenting onthe results, Arun Kumar, Founder and Group CEO, stated “The quality of businessand profitability has been the hallmark of our FY 2015 performance. The mergerwith Shasun and re-entry into the Australian market will make us a fullyintegrated global pharmaceutical company with size and scale. Investments inR&D and portfolio maximization will be our key priorities going forward.”
Performance Highlights – Q4 FY15 and FY15
Global Pharma
INR Mn
| Jan- Mar FY13-14 | Q4FY15 | Growth % | Apr-Mar FY13-14 | FY15 | Growth % | |
| Revenues | 3,400 | 3,405 | – | 11,402 | 12,190 | 7% |
| EBITDA | 597 | 741 | 24% | 2,001 | 2,600 | 30% |
| EBITDA % | 18% | 22% | 18% | 21% |
·EBITDA for the quarter at INR741Mn, up 24% YoY, driven by strong performance across all frontend markets andprofit share from partners
·Margin focussed approachdelivered superior EBITDA growth of 30% to INR 2,600Mn in FY15
·ContinuedUS FDA approval status for Oral Dosage Facility at Bangalore
·6 newproduct filings made with USFDA during the year including 2 FTF filings
·33cumulativeANDA filingswith16ANDA’s pending approval from USFDA
Biotech
·R&Dspend during the quarter at INR 26 Mn and for the year at INR 79 Mn
·2 products have reached theAnimal Toxicity Study stage during FY15
·Investment by GMS holdings intoStelis Biopharma awaiting FIPB approval
Revenue Composition by Business – Global Pharma
INR Mn
| Q3 FY15 | Q4 FY15 | QoQ % | FY15 | Composition | |
| Regulated Markets | 966 | 1,160 | 20% | 4,255 | 35% |
| Institutional Business | 1,284 | 983 | -23% | 3,865 | 32% |
| Emerging Markets | 1,011 | 1,262 | 25% | 4,070 | 33% |
| Total Revenues | 3,261 | 3,405 | 4% | 12,190 | 100% |
RegulatedMarkets
·Revenues at INR 1,160Mn in Q4FY15, up 20% QoQ driven by North American business
·Revenues at INR 4,255Mn inFY15,representing 35% of total revenues
·Launched 5 new products in theUS during FY15 with a cumulative market value of ~ USD 1bn.
