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Orchid Chemicals sees FY12 revenue up 25%

Orchid Chemicals sees FY12 revenue up 25%
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First Published: Wed, May 18 2011. 04 43 PM IST
Updated: Wed, May 18 2011. 04 43 PM IST
Mumbai: Drugmaker Orchid Chemicals & Pharmaceuticals expects revenue to rise 25% in FY12 on strong order book and supply arrangements, chairman and managing director K. Raghavendra Rao said on Wednesday.
The drugmaker reported a consolidated net profit of Rs156 crore in FY11 on net sales of Rs1,786 crore.
The year-ago numbers are not comparable as the company sold its injectables business to Hospira Inc in March 2010, it said in a statement.
“...our shift to more sustainable and robust business model has also helped us significantly de-leverage our balance sheet thus improving key parameters like working capital, debt-equity and asset turnover,” Rao said in a statement.
The company’s net debt-equity ratio stood at 1.52 as on 31 March, it said in a statement.
With staunch efforts on product development, Orchid’s filing and approval count is poised to increase in the coming months and quarters, the drugmaker added.
Shares of Orchid Chemicals & Pharmaceuticals closed at Rs294.95 on Wednesday, down 4.59% in a weak Mumbai market that ended down 0.28%.
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First Published: Wed, May 18 2011. 04 43 PM IST