E Merck has declared impressive results if one takes into account the fact that the company's net profit has been depressed due to extraordinary provisions on account of inter alia Voluntary Retirement Scheme (VRS) payments. Excluding these provisions which add up to Rs.165 million the company's net profit has ctually grown by 28%. Topline growth has been subdued to 7% though in line with the industry growth.
The company is into the manufacture of vitamins such as polybion, neurobion and evion which are market leaders with a 70% market share and contribbute more than 51% to the turnover of the company. All of them are under price control however. This is what makes the bottomline all the more creditable since it speaks volumes for the company's efficiency as compared to other MNC pharmacetuical companies.
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