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Torrent Pharmaceuticals Ltd announces Q2 FY 2018-19 Results

Posted On: 2018-11-05 12:47:23

Ahmedabad based Pharmaceuticals major, Torrent Pharmaceuticals Limited, today released its financial results for the Quarter and Half Year ended September 30th, 2018.

Key highlights: Q2 FY19 consolidated financials

- Revenues at Rs. 1,894 crores (YoY growth of 34%).

- India business (including acquired business) at Rs. 816 crores (up by 34% YoY).
- US revenues (including acquired business) at Rs. 394 crores (up by 54% YoY). 7 ANDAs were filed during the quarter. As on Sep 30th 2018, 35 ANDAs are pending approval and 5 tentative approvals have been received.

- Brazil revenues at Rs. 147 crores (up by 23% YoY).
- Germany revenues at Rs. 251 crores (up by 20% YoY).

- Gross margins at 71.1%, up by 0.6% (YoY).

- EBITDA at Rs. 478 crores (EBITDA margin of 25%), up by 18% (YoY). Adjusted for one time impact of product recall in US, the EBITDA growth is 24% (YoY) and EBITDA margin is 26.6%.

- Net profit at Rs. 179 crores as against Rs. 204 crores in Q2 FY18 after considering the following major items:

- Depreciation and amortization is higher by Rs. 68 crores on account of acquired business
- One time impact of product recall in US of Rs. 25 crores
- Lower hedging gains due to rupee depreciation.

- R&D spend at Rs. 136 crores against Rs . 107 crores in Q2 FY18.

Key highlights: Hl FY19 consolidated financials

- Revenues at Rs 3,766 crores, up by 36% over Hl FY18.
- Gross margins at 70.6%, up by 0.1% over Hl FY18.
- EBITDA at Rs. 979 crores (EBITDA margin of 26%), up by 21% over Hl FY18.
- Net profit at Rs. 342 crores as against Rs. 392 crores in Hl FY18 after considering the following major items:

- Depreciation and amortization is higher by Rs . 138 crores on account of acquired business.
- One time impact of product recall in US of Rs. 25 crores.
- Lower hedging gains due to rupee depreciation.

- R&D spend at Rs. 263 crores against Rs. 208 crores in Hl FY18.

Shares of TORRENT PHARMACEUTICALS LTD. was last trading in BSE at Rs.1630.35 as compared to the previous close of Rs. 1711.45. The total number of shares traded during the day was 11382 in over 1082 trades.

The stock hit an intraday high of Rs. 1740 and intraday low of 1617.65. The net turnover during the day was Rs. 19045860.


Source: Equity Bulls

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