The Hindu Business Line : Jubilant Organosys sales, net up

Jubilant Organosys has registered a 28.6 per cent hike in sales to Rs 1,505 crore during the financial year ended March 31, compared to Rs 1,170 crore recorded last year. Net profit increased by 8.8 per cent from Rs 120 crore at Rs 130 crore. The board has recommended a dividend of 125 per cent.

While the international sales rose by 41.7 per cent to Rs 595 crore, the pharmaceuticals and life science chemicals business continued to be the growth driver recording 41.2 per cent increase in revenues to Rs 684 crore as compared to (Rs 484 crore) last year.

The company has also taken the board approval to raise up to $325 million through private placement of equity shares, global depository shares, American depository shares, foreign currency convertible bonds or any other equity-related instrument, to fund acquisition, capital expenditure, expansion, modernisation or meet working capital requirements.

For the fourth quarter ended March 31, net sales increased by 31.8 per cent to Rs 424 crore (Rs 322 crore). Profit after tax stood at Rs 48.2 crore (Rs 34.3 crore).

Jubilant Organosys has a positive outlook for the current year and will grow by focusing on the regulated markets of North America, Europe and Japan. It will also look at both organic and inorganic growth initiatives and focus on research and development.

In a statement, Mr Shyam S. Bhartia, Chairman and Managing Director, Jubilant Organosys, said, "We are pleased to report the performance for the financial year 2006, with all our businesses delivering results in line with our expectations."