Shasun Chemicals and Drugs Ltd., a leading pharma company focused on manufacture of Finished Dosage, APIs (Active Pharmaceutical Ingredients) and intermediates to global pharma, posted a 110.49 per cent growth in consolidated revenue at Rs 793.34 crore for the financial year ended March 31, 2007 compared to Rs 376.90 crore in FY06.

Consolidated net profit grew by 43.19 per cent rise at Rs 52.62 crore compared to Rs 36.74 crore in FY06. The growth in CRAMS business, after its acquisition, has been significant and the total revenue from CRAMS for FY07 was Rs. 342.98 crore as compared to Rs. 37.53 crore in FY06. EBITDA for the year was Rs. 92.15 crore as against Rs.71.50 crore in the previous year; registering a growth of 28.87 percent.

Earnings Per Share (EPS) is at Rs 10.93 on equity of Rs 9.64 crore. The fully diluted EPS stood at Rs 10.90 as on March 31, 2007.

On a standalone basis, the Income from Operations grew 15.07 per cent to Rs 425.82 crore compared to Rs. 370.05 crore in the corresponding quarter ended last year. The net profit grew by 4.90 per cent at Rs 38.29 crore for the FY07 as against Rs 36.50 crore in FY06.

Q4 Performance

The company has posted a 134.54 percent rise in consolidated net sales at Rs 238.06 crore for the fourth quarter ended March 31, 2007 compared to Rs 101.50 crore in the corresponding period of the previous year. Consolidated net profit grew by 40.79 per cent at Rs 17.54 crore compared Rs 12.45 crore in the corresponding quarter last year.

On a standalone basis, net profit grew 8.91 per cent to Rs 14.33 crore compared Rs 13.15 crore. While income from operations grew by 10.56 per cent to Rs 113.95 crore compared Rs 103.07 crore in the corresponding quarter last year.

Turnaround of UK acquisition

Shasun made a maiden acquisition of Rhodia's custom synthesis and contract manufacturing business in UK through Shasun Pharma Solutions Ltd. UK (SPSL) in FY06.

Shasun could effect a successful turnaround in the operations of the acquired company- from negative to positive EBIDTA- in the fourth quarter of its first year of operation. The turnaround has been brought about by better utilisation of the capacity and newer contracts signed after the take over by Shasun.

SPSL posted on full year basis the total revenue of 41.44 Mn GBP and EBIDTA of 2.19 Mn GBP after considering 6.48 Mn GBP of release of negative goodwill. The revenue for Q4 FY07 stood at 13.50 Mn GBP and EBIDTA of 0.43 Mn GBP without considering the release of negative goodwill.

Management's comments

Mr. N. Govindarajan as the CEO & Managing Director of the company, said, "A major milestone of turning around SPSL (UK) during the last quarter reinforces the confidence on our capabilities. This acquisition has allowed us to acquire customers across the border which has enhanced the value in the eyes of the customers leading to more opportunities of partnering".

Dividend

The Board of Directors of the company has recommended a Final Dividend of 45% which together with the interim dividend makes the total dividend to 85% for the year.

About Shasun Chemicals and Drugs Ltd (BSE: 524552, NSE: SHASUNCHEM)

Shasun Chemicals and Drugs Ltd is leading pharma company focused on manufacture of Active Pharmaceutical Ingredients (API's), intermediates and finished dosages to global pharma majors. Founded in 1976, Shasun offers an integrated business model by offering services in research, development and manufacturing (including Contract Research and Manufacturing Services).

The company has four bulk manufacturing facilities, two in India and two in UK, which have been inspected successfully several times by various regulatory agencies including US FDA.

Its finished dosage facility has been inspected by US FDA, TPD Canada and MHRA, UK. With its maiden acquisition of business and assets of UK-based Rhodia Pharma through the wholly owned subsidiary Shasun Pharma Solutions Ltd (SPSL), Shasun has now become a multi national company.

Safe Harbor Statement:

Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.