Oxygenta Pharmaceutical (524636) Q4 14/15 earnings summary

Executive summary

• FY15 operations were disrupted by a January 2015 fire; production resumed in July, while heavy expenses and the outage contributed to a larger annual net loss.

• Revival efforts included management funding and contract manufacturing for Aurobindo Pharma; management expected to reach breakeven by November 2015.

Financial highlights

• FY15 total revenue was Rs 6,25,44,382 vs Rs 2,70,37,120 in FY14; revenue from operations was Rs 6,24,23,732 vs Rs 2,47,00,500.

• Net loss was Rs 6,11,49,802 vs Rs 4,28,83,255; PBT loss was Rs 6,85,41,335 vs Rs 4,10,00,440.

• Total expenses rose to Rs 13,10,85,717 from Rs 6,80,37,560 in FY14.

Outlook and guidance

• Production restarted in July 2015; revenue was increasing from September, with management targeting breakeven by November 2015.

• Management expected improved performance in the coming year as manufacturing and marketing stabilized after the fire.

• Contract manufacturing was expected to continue until working-capital limits became available, helping cover major operating expenses.