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Aarti Drugs Ltd reports financial results for quarter ended June 30, 2020
Posted On : 2020-07-28 10:56:39( TIMEZONE : IST )
In the June'2020 quarter, the Company recorded consolidated quarterly revenue of Rs.544.67 Crores with year-on-year increase of 34.34%. API segment contributed approximately 85% and formulation around 15% of the total consolidated revenues. Domestic sales of the API segment grew by approximately 28.19% and exports by 29.13%. Around 50% of the Y-o-Y growth in the API segment was due to volume growth. Formulation segment revenues grew by around 89.49% on a year-on-year basis on the account of high export growth.
Consolidated EBITDA for the quarter ended June'2020 is Rs.135.23 Crores, up by 146.89% and consolidated profit after tax for the quarter ended June 2020 is Rs.85.45 Crores, up by 280.63% on a year-on-year basis. Consolidated EBITDA margin improved to 24.83%. Despite challenges faced during COVID19 lockdown, the Company was able to maintain good operational efficiency which along with good realization in selling prices led to increased gross margins. Debt/Equity ratio of the Company reduced further down to 0.55 as of June'2020 on a consolidated basis.
Company has already scaled up its anti-diabetic and anti-inflammatory capacity and it will give impetus to revenue growth in FY20-21. This would be further supported by good growth in formulation exports. Additional CAPEX is planned for introducing new products in anti-diabetic category towards the end of FY20-21. As the lockdown is easing out project work should pick up pace in coming quarters. Company also positively looks forward towards the recently announced PLI scheme by the government. The company is also planning to do further backward integration of its products to reduce Imports dependency.
Shares of AARTI DRUGS LTD. was last trading in BSE at Rs.1747.15 as compared to the previous close of Rs. 1590.2. The total number of shares traded during the day was 67624 in over 7351 trades.
The stock hit an intraday high of Rs. 1811.35 and intraday low of 1631.25. The net turnover during the day was Rs. 116207279.
