Zydus Lifesciences (ZYDUSLIFE) Q4 99/00 earnings summary

Executive summary

• FY00 sales rose 32.18% to Rs 4,777.50 million; operating profit increased 53.41% to Rs 714.20 million, with growth led by formulations and new product launches.

• India ranking improved from sixth to fifth; strategic targets were top three domestically by 2005, a leading Asian player by 2010 and a global player by 2020.

Financial highlights

• Sales were Rs 4,777.515 million versus Rs 3,614.420 million in FY99; total income was Rs 4,791.765 million versus Rs 3,625.766 million.

• PBT was Rs 452.287 million versus Rs 362.521 million; reported profit after tax was Rs 399.787 million versus Rs 312.521 million.

• Excluding prior-years’ tax adjustments of Rs 22.935 million, net profit was Rs 376.852 million; performance highlights cite profit of Rs 39.98 crore before these adjustments.

• Total exports, including deemed exports, were Rs 383.70 million; FOB exports were Rs 383.72 million versus Rs 307.28 million in FY99.

Outlook and guidance

• Short-term priorities: grow branded generics domestically and use process-synthesis capabilities; medium-term priorities include exports, overseas operations, developed-market generics and OTC.

• Team 2000 was tasked with pursuing regulated markets through ANDA filings, regulatory compliance, Drug Master Files and product-development collaborations.

• A 10-million-patch annual-capacity transdermal facility was expected to be commissioned in Q2 2001; vaccine and injection facilities were expected to start by mid-2000.