Nicholas Piramal: New products make up for anti–infective decline - Views on News from Equitymaster

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  • Jul 24, 2000 - Nicholas Piramal: New products make up for anti–infective decline

Nicholas Piramal: New products make up for anti–infective decline

Jul 24, 2000

Despite a 12% degrowth in anti–infectives in the first quarter, Nicholas Piramal has managed to report a 32% growth in bottomline. This was primarily on the back of new introductions such Rejoint (a nutraceutical consumed by arthirtis patients) and Haemaccel and Omnatax which were taken over from Hoechst.

(Rs m) 1QFY00 1QFY01 Change
Sales 1,121 1,325 18.2%
Other Income 14 12 -12.5%
Expenditure 938 1,098 17.1%
Operating Profit (EBDIT) 184 227 23.6%
Operating Profit Margin (%) 16.4% 17.1%  
Interest (net) 43 40  
Depreciation 25 33 32.3%
Profit before Tax 130 166 28.0%
Other Adjustments      
Tax 15 14 -6.7%
Profit after Tax/(Loss) 115 152 32.5%
Net profit margin (%) 10.2% 11.5%  
No. of Shares (m) (eoy) 27.7 34.9  
Diluted no. of shares (m) 34.9 34.9  
Diluted Earnings per share* 13.2 17.4  
*(annualised)      

The company has launched new products including Bulaquin (an anti–malarial), Alginic Acid (a gastrointestinal), atorvastatin (a cardiovascular) and cefixime (anti–infective). These are expected to contribute to the turnover in the subsequent quarters.

The stock quotes at a price of Rs 336 which implies an earning multple of 19.3 times on the annualised earnings for FY2001.


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