Orchid Chemicals & Pharmaceuticals : Pharma registers turnover of Rs 285 crore in Q3 FY14
August 15, 2014 at 11:20 am EDT
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Chennai, India | August 15, 2014
Orchid Pharma registers turnover of Rs 452 crore in Q2 FY14, an increase of 67% YoY, EBITDA of Rs 108 Crore and EBIT of Rs 51 Crore
Financial highlights for Quarter ended June 30, 2014 (Q3 FY14) - Standalone
Revenue of Rs 452.72 crore (US$ 74.8 million) in the quarter ended March 31, 2014 (Q2 FY14) as against Rs 268.16 crore (US$ 44.3 million) in the quarter ended March 31, 2013 (Q3 FY13) registering an increase of 67% YOY.
EBITDA of Rs 108.43 crore (US$ 17.9 million) in the quarter ended March 31, 2014 versus Rs 13.98 crore (US$ 2.3 million) in the quarter ended March 31, 2013.
Loss before Tax of Rs 59.70 crore (US$ 9.9 million) in the quarter ended March 31, 2014 compared to a loss before tax of Rs 116.82 crore (US$ 19.3 million) during the quarter ended March 31, 2013.
At the net level, the company registered a loss of Rs 80.79 crore (US$ 13.4 million) in the quarter ended March 31, 2014 compared to a loss of Rs 132.27 crore (US$ 21.9 million) during the quarter ended March 31, 2013.
* 1 US$ = Rs 60.49
Other Highlights
During the current quarter, the Corporate Debt Restructuring Empowered Group (CDR EG) approved the debt restructuring package for the Company vide its Letter of Approval dated March 10, 2014.
Consequent to the approval of the restructuring package, CARE has upgraded the credit rating of the Company to CARE "C" (Single C) for the Long Term Bank facilities.
The Board has designated Shri K.N.Venkatasubramanian (non-executive, independent Director) as the Chairman of the Company. Shri K.N.Venkatasubramanian holds various positions at the Board level in several Companies and has also served as the Chairman of Indian Oil Corporation Ltd. (IOCL) from where he retired. Consequent to Shri K.N.Venkatasubramanian's appointment as Chairman, Shri K. Raghavendra Rao has been re-designated as the Managing Director of the Company.
From the Managing Director
"With the approval for the Corporate Debt Restructuring Package (CDR) in place, the Company is on a better platform to complete the Penicillin and Carbapenem Business Transfer to Hospira and achieve improved performance in the ensuing quarters with availability of working capital through implementation of CDR. We are also happy about the appointment of Shri K.N.Venkatasubramanian's appointment as the Chairman of the company. I am sure the company will benefit from his wide experience and knowledge," said Mr K Raghavendra Rao, Managing Director, Orchid Chemicals & Pharmaceuticals Ltd.
Orchid Pharma Limited is an India-based pharmaceutical company. The Company is engaged in the manufacturing of integrated active pharmaceutical ingredients (API). It operates through the pharmaceutical segment. It has a multi-therapeutic presence across segments like anti-infectives, anti-inflammatory, central nervous system (CNS), cardiovascular segment (CVS), nutraceuticals and other oral and sterile products. Its pharmaceutical solutions include active pharmaceutical ingredients (APIs) and finished dosage forms. It offers APIs, including Cephalosporins-Orals, Cephalosporins-Injectables, Veterinary Products and Non-Antibodies. Its formulations include Cefixime Capsules, Acarbose Tablets, Acarbose Tablets, Clozapime Tablets, Clopidogrel Tablets, Desloratadine Tablets and Cefoperazone and Sulbactam for Injection, among others. Its subsidiaries include Orchid Europe Limited, Orchid Pharmaceuticals Inc., Bexel Pharmaceuticals Inc., and Diakron Pharmaceuticals, Inc., among others.
ORCHID PHARMA LIMITED 
