The Hindu Business Line : Matrix Labs Q4 net up at Rs 36 cr; to pay 60 pc

Matrix Laboratories Ltd has reported a growth of 82 per cent in sales turnover and 53 per cent in net profit for the fiscal ended March 2006, on a consolidated basis.

The board has recommended a dividend of 60 per cent (Rs 1.20 on a share of Rs 2 each) for the year.

The company reported a consolidatednet profit of Rs 199.2 crore on a sales turnover of Rs 1,158.6 crore on consolidated basis, resulting in an EPS of Rs 13.23 on a paid-up equity of Rs 30.72 crore.

For the quarter ended March 2006, the company posted a consolidated net profit of Rs 36.2 crore (Rs 28.6 crore) and consolidated net sales of Rs 392.8 crore (Rs 158.4 crore).

R&D spend

The consolidated net profit after taxwas after a substantial increase in research and development expenses. A press release said the company's R&D expenses went up by 147 per cent from Rs 15.9 crore in the previous year to Rs 39.4 crore.

During the year under review, the company spent a total capital expenditure of Rs 122.5 crore for enhancement of capacities, upgradation of facilities etc. The company said it expects these measures to enable it meet the market demands in the next few years.

Generic API business

During the year, the company filed 15 drug master files (DMFs) in the US, taking the total tally to 60. Of these 60 products, currently only 10 products have been commercially launched. During the current fiscal, the company proposes to double the number of launches and file 30 DMFs in the US.

Aimed at augmenting its finished dosage business, the company has established an R&D team of approximately 80 in a short span of time and successfully filed its first abbreviated new drug application (ANDA) with the USFDA. The company expects record filings of approximately 30 ANDAs/Dossiers in US and Europe during the current fiscal.

Docpharma

The company said its 100 per cent subsidiary, Docpharma NV, has initiated the process of divestment of its hospital business division (non-core). The process would be completed in the next two months. Docpharma has performed well in its core market of Belgium and the Netherlands. Docpharma is now expanding its presence in Italy as further dossier approvals and consequent launches are expected in the current year, the release said.