Chennai, India | May 28, 2015

Financial highlights for year ended March 31, 2015 (FY15) - Standalone

Revenue of Rs 1753 crore [US$ 280.6 million] registered during the year ended March 31, 2015 (FY 13-15 /18 months) as compared to Rs 1988 crore [US$ 318.1 million] registered during the corresponding year ended March 31, 2013 [18 months].

Earnings before Interest, Depreciation and Tax (EBIDTA) stood at Rs 361 crore [US$ 57.8 million] for the fiscal under review compared to Rs 169.60 crore [US$ 27.1 million] registered during FY13

Net (Loss) for the fiscal ended March 31, 2015 stood at Rs (191) crore [US$ (30.6) million] compared to a loss of Rs (530) crore [US$ (84.8) million] for the previous fiscal.

EPS for the fiscal ended March 31, 2015 stood at Rs. (26.11)

* 1 US$ = Rs 62.50

The company extended its current financial and accounting year by six months to March 31, 2015. This is to fall in line with the new Companies Act requirement.

Update on the Corporate Debt Restructuring (CDR) initiative and the Business Transfer Agreement (BTA) with Hospira

The Company was admitted by Corporate Debt Restructuring (CDR) cell for restructuring its loans and the CDR package was finalized in December 2013 and approved by the CDR EG in March 2014. The Business Transfer Agreement (BTA) entered into with Hospira a part of the CDR initiative was implemented in July 2014 in line with the CDR process.

Shri R Kannan has been appointed as an independent, non-executive director and Ms Soundara Kumar has been appointed as a nominee of the Lenders as per the CDR package. She would be a non-executive director on the Board of Orchid. Shri S Yuvaraj an independent member on the Board vacates the Office of Director.

From the Managing Director

"The approval of the CDR package and its implementation during the year with the support of the Lenders and Financial Institutions has helped us put operations of the remaining business back on track. The allocation of part of the sales proceeds for working capital requirements, reduced interest rates on the loans with a moratorium of 2 years for repayment of the principal and interest has improved the level of operations. Given our quality standards and new product pipeline, we are confident of better performance going forward," said Mr K Raghavendra Rao, Managing Director, Orchid Chemicals & Pharmaceuticals Ltd.

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