Shasun Chemical posts 110.49% growth

Chennai, May 29 (UNI) Shasun Chemicals and Drugs Limited, a leading pharma company manufacturing finished dosate, APIs (Active Pharmaceutical Ingredients) and intermediates to global pharma, posted 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 over the corresponding period previous year.

The consolidated net profit grew by 43.19 per cent, at Rs 52.62 crore from Rs 36.74 crore in the previous fiscal.

The growth in CRAMS business after its acquistion of London-based Rhodia's Custom Synthesis had been significant and the total revenue from CRAMS for the current financial year was Rs 342.98 crore compared to Rs 37.53 crore in the previous fiscal, talking to newspersons company CEO and Managing Director N Govindarajan said here today.

On a standalone basis, the income from the operations grew up 15.07 per cent, to Rs 425.82 crore as 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 financial year 2007 as against Rs 36.50 crore in the previous fiscal.

The company had posted a 134.54 per cent rise in consolidated net sales at Rs 238.06 crore for the quarter ended March 31 2007 compared to Rs 101.50 crore in the corresponding period of last year.

Shasun's maiden acquisition of Rhodia's Custom Synthesis had successfully turned around the operations, from negative to positive EBIDTA in the fourth quarter of its first year of operation.

He said "this acquisition has allowed us to acquire customers across the border and enhanced our value in the eyes of the customers opening more opportunities for partnering".

"The acquistion has also given Shasun a global presence in APIs custom synthesis and contract manufacturing, as transation includes all of Rhodia's development and custom manufacturing services catering to innovator and emerging pharmaceutical clients in US, Europe and Asia", he added.

UNI