The Hindu Business Line : Anu’s Labs to set up plant in Vizag; Q4 net rises 33%

Anu’s Laboratories Ltd, a manufacturer of advanced intermediates and fine chemicals for pharma companies, has decided to expand operations in Contract Research and Manufacturing Services (CRAMS).

The recently-listed Hyderabad-based company is setting up a Rs 63-crore plant for manufacturing of drug intermediates, including active pharmaceutical ingredients (APIs) at Visakhapatnam.

Anu’s Labs raised about Rs 80.22 crore in June through its initial public offer by selling 3.82 million shares and would utilise the funds for the expansion, Mr Hari Babu, Managing Director, said.

The IPO which was oversubscribed 8.43 times constituted 31.63 per cent of diluted post-issue capital of the company in April 2008, a press release said.

Net up

During the fourth quarter of fiscal 2007-08, Anu’s Labs achieved a turnover of Rs 47.39 crore, a growth of 62 per cent compared with the last quarter’s turnover of Rs 29.24 crore.

For the entire fiscal the net jumped 33 per cent to Rs 18.07 crore (Rs 13.59 crore). The net sales stood at Rs 154.39 crore (Rs 109.17 crore), a growth of 41.41 per cent, the press release said.

The earning per share (EPS) was Rs 21.89 (Rs 17.04). The company board has recommended a final dividend of 15 per cent (Rs 1.50 per share), subject to shareholders approval.

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