New Delhi, Nov 14,2014
Claris Lifesciences Ltd. (CLL) announced its quarterly un-audited financial results for the quarter ended 30th September 2014 at its board meeting held at its registered office in Ahmedabad.
On the 31st of October, after the receipt of the Board and Shareholder’s approval the Speciality Injectable Business has been transferred to a wholly owned subsidiary; Claris Injectables Limited (CIL). CLL is now a holding company having three segments, (i) 100% ownership of CIL (ii) 20% stake in COL (JV Company) and (iii) Investments and Cash management of CLL.
Key financial highlights of the consolidated financials of Claris Lifesciences Ltd.:
The PAT margin for Q3CY14 stood at 13% of the Net Revenues. The Q3 profits have grown by 32% over the previous quarter.
Management Representation of the Financial of the Speciality Injectable Business:
(Values in Rupees Mn)
PARTICULARS | Q1CY14 | Q2CY14 | QoQ Change | H1CY14 | Q3CY14 | QoQ Change | 9MCY14 |
Net Sales | 723 | 985 | 36% | 1,708 | 1,156 | 17% | 2,864 |
EBITDA | 223 | 365 | 64% | 588 | 433 | 19% | 1,021 |
EBITDA Margin (%age) | 31% | 37% | 34% | 37% | 36% |
Region wise Net Sales:
Region | Q1CY14 | Q2CY14 | QoQ Change | H1CY14 | Q3CY14 | QoQ Change | 9MCY14 |
USA | 93 | 198 | 113% | 291 | 304 | 54% | 595 |
Other Regulated (Ex US) | 195 | 320 | 64% | 515 | 291 | -9% | 806 |
Emerging Markets | 435 | 467 | 7% | 902 | 561 | 20% | 1463 |
Key financial highlights of the Specialty Injectable Business:
Other Updates
The Board of Directors of the Company have duly approved to change the financial year of the Company from January – December (calendar year) to April – March (financial year as per Indian GAAP). Accordingly, the Company’s current financial year shall be for a period of fifteen month ie. from January 01st, 2014 to March 31st, 2015
Disclaimer
This press release may include “forward-looking statements” which involve a number of risks, uncertainties and other factors that may cause actual results to differ materially. Such factors include, but are not limited to, changes in local and global economic conditions, our ability to successfully implement our strategy, the market acceptance of and demand for our products, our growth and expansion, technological change and our exposure to market risks. By their nature, these expectations and projections are only estimates and could be materially different from actual results in the future. Claris Lifesciences Limited does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date thereof. Market information mentioned in the press release is based on IMS Data and/or internal estimates of the company. The press release also contains the carved out financials of the business transferred to Claris Injectables Limited (CIL), these carved out business are management representations and are not audited numbers.
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