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Ranbaxy: Strong global performance

Apr 22, 2004

Pharma major, Ranbaxy, announced its 1QFY05 results today. On the consolidated basis, the company has registered a bottomline growth of 10% on the back of an 18% topline growth. Ranbaxy has also recommended a final dividend of Rs 12 to the shareholders (120% on the face value of Rs 10 per share). Including this dividend, the total dividend for FY04 thus comes to Rs 15. However, the company's standalone performance is a matter of concern where the sales fell by 19% while the net profits have nearly halved (down by 47%).

Consolidated performance...
(Rs m) 1QFY04 1QFY05 Change
Net sales 10,920 12,868 17.8%
Other operating income 595 602 1.2%
Other income 6 55 -
Expenditure 8,821 10,423 18.2%
Operating profit (EBDITA) 2,694 3,047 13.1%
Operating profit margin (%) 24.7% 23.7%  
Interest 77 107 39.0%
Depreciation 372 401 7.8%
Profit before tax 2,251 2,594 15.2%
Extraordinary items 102 -  
Tax 614 685 11.6%
Profit after tax/(loss) 1,739 1,909 9.8%
Net profit margin (%) 15.9% 14.8%  
No. of shares (m) 185.5 185.6  
Diluted earnings per share (Rs)* 37.5 41.1  
P/E ratio (x)   25.9  
(* annualised)      

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