Tuesday, April 22, 2008

Jubilant Organosys Reports Q4 and FY 2008 results

Q4 FY08 Revenues growth of 49% to Rs. 6,890 million; Net Profit at Rs. 582 million;
Pharma & Life Science revenues increase 102%
FY08 Revenues improved 38% to Rs. 24,889 million, PAT up 76% at Rs. 4,005 million
Pharma & Life Science revenues increase 71%
Board declares increased dividend at 150% for the year
Revenues for 4th quarter ended March 31, 2008 rose by 48.7% to Rs. 6,890 mn over Q4 FY 2007. The international revenue was also higher by 107.4% at Rs. 4,429 mn. Consolidated EBITDA in Q4 stood at Rs. 1,064 mn, however, the EBITDA before exchange loss and interest income on unused FCCB, has grown by 210.7% to Rs. 1,277 million and net profit for the quarter was at Rs. 411 mn. The EPS for Q4 FY2008 was Rs. 3.22.

Consolidated annual revenues increased by 37.5% to Rs. 24,889 mn as compared to FY 2007. International revenue increased by 67.6% to Rs. 13,940 mn. EBITDA over financial year grew by 59.5% to Rs. 6,067 mn, however, the EBITDA before exchange gain and interest income, has grown by 75.5% to Rs. 4,774 million, while the net profit increased by 75.7% to Rs. 4,005 mn. EPS grew by 72.2% to Rs. 22.42.

The Board of Directors of the company recommended the dividend of 150% (previous year 125%) on fully paid up equity shares of Re 1 each, for the year ended 31 March, 2008.This will result in a dividend payout of Rs. 256.6 million (including dividend tax).

Consolidated revenues from international operations stood at Rs. 13,940 million, a 67.6% growth on account of volume growth in the CRAMS business and addition of Hollister. Revenue from North America and EU contributed 41.8% and 25% with a growth of 140% and 17% respectively.

Jubilant continues to see strong traction across existing businesses and expects over 35% increase in revenue (without accounting for proposed acquisition of Draxis). The operating profit is expected to show a substantial growth due to volume growth and expansion in margins and resultant improvement in net profit for FY 2009.

Commenting on the Company's performance, Mr. Shyam S Bhartia, Chairman & Managing Director and Mr. Hari S Bhartia, Co-Chairman & Managing Director, Jubilant Organosys Ltd, said:
"There was a significant progress both in terms of revenues and earnings in FY 2008. Moving on to next year, our outlook on revenue, earnings and margin performance is growth led. We have established our self as India's largest and one of the most skilled outsourcing partner of choice to global pharma & other life science companies. Further organic and inorganic initiatives implemented in the recent past are expected to make healthy contribution to our operations which should reflect in accelerated growth in the future"

About Jubilant

Jubilant Organosys Ltd. is an integrated pharmaceutical industry player, one of the largest custom research and manufacturing services (CRAMS) and drug discovery and development services companies out of India. The company has a presence across the pharmaceutical value chain for products and services such as exclusive synthesis, contract manufacturing, proprietary products, Active Pharmaceutical Ingredients, generic dosage forms, drug discovery services, drug development services, chemistry services and clinical research services.

Jubilant Organosys has geographically diversified manufacturing facilities in eight locations: Gajraula (UP), Nanjangud (Karnataka), Roorkee (Uttarakhand), Nira (Maharashtra), Udaipur (Rajasthan), Samlaya (Gujrat), Salisbury, state of Maryland (USA) and Spokane, state of Washington (USA). Together, these help Jubilant cater to 130 customers across more than 50 countries around the world.

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