Orchid registers Rs 541-crore turnover; posts 27% growth

Our Corporate Bureau
02 May 2003

Chennai: Orchid Chemicals and Pharmaceuticals, the city-based pharma major, has registered a turnover of Rs 541.42 crore for the fiscal year ending 31 March 2003, representing a growth of 27 per cent over the previous year's revenues of Rs 425.52 crore.

The net profit after tax was Rs 19.54 crore as against Rs 6.31 crore for the last fiscal, registering an impressive increase of 210 per cent. The EPS of the company increased threefold to Rs 6.61 compared to Rs 2.25 last fiscal.

The board has recommended a 40-per cent dividend for the year under review on an enhanced equity of Rs 32.38 crore.

The gross profit before interest, depreciation and taxes was Rs 109.63 crore compared to Rs 80.67 crore last fiscal. After providing for interest of Rs 42.08 crore (Rs 31.42 crore last fiscal) and depreciation of Rs 40.31 crore (Rs 35.82 crore) the profit before deferred tax was Rs 27.25 crore as against the previous year's profit before deferred tax of Rs 13.43 crore.

Orchid's revenues for the fourth quarter ended 31 March 2003 stood at Rs 194.96 crore as against Rs 147.18 crore for the corresponding period last fiscal. Additional capacities generated by new bulk active projects completed during the last quarter, coupled with product mix changes, resulted in a higher increase in Q4 performance.

The gross profit before interest, depreciation and taxes was Rs 39.78 crore compared to Rs 23.51 crore, for the corresponding quarter in the last fiscal. The net profit was Rs 10.32 crore, compared to a net loss of Rs 4.12 crore for the corresponding quarter of the last fiscal.