Anuh Pharma (506260) Q4 06/07 earnings summary

Executive summary

• FY07 sales rose 6% to Rs 817.73m; reported PBT increased 3.55% to Rs 104.9m and PAT rose 2.56% to Rs 68.1m.

• Export sales advanced 12.43% to Rs 420.76m; a newly commissioned Tarapur API facility is expected to support capacity utilization and further local and export growth.

Financial highlights

• Sales were Rs 817.7m versus Rs 771.2m in FY06; PBDIT was Rs 117.9m versus Rs 105.7m.

• Audited PBT was Rs 105.0m versus Rs 101.3m; profit attributable to equity shareholders was Rs 68.9m versus Rs 66.4m.

• Gross sales and operating income reached Rs 868.5m versus Rs 809.1m; other income was Rs 21.2m versus Rs 26.9m.

• Operating cash flow was Rs 67.0m, compared with cash outflow of Rs 0.4m in FY06; cash and bank balances rose to Rs 53.2m.

Outlook and guidance

• Demand for products remained good; directors expected better capacity utilization and growth in exports and local sales following commissioning of the new plant.

• Strategic capacity expansion, opportunities in untapped markets and value-chain alliances were identified as priorities for growth.

• Forward-looking outcomes are subject to competition, price realization, foreign exchange movements, policy and tax changes, and economic conditions.