Companies

Zydus Cadila's net up by 41% in FY11, proposes 125% dividend

| Updated on: May 06, 2011

Entering the billion-dollar league, the Zydus Cadila Group reported an increase of 41 per cent in net profit and 26 per cent in total income in the financial year ended March 31, 2011, compared to the same period last fiscal, the company said today.

On Friday, the share price of Cadila Healthcare Ltd closed up 3.04 per cent on the BSE at Rs 875.65, while the share price of Zydus Wellness Ltd closed down 2.90 per cent at Rs 563.25.

The group's total income from operations was Rs 4,630 crore (Rs 3,687 crore) on a consolidated basis, whereas net profit was Rs 711 crore (Rs 427 crore). With the group celebrating crossing the billion-dollar-mark in revenues in 2010-11, the board of directors has proposed a dividend of 125 per cent as compared to 100 per cent last year.

Yesterday, Zydus Wellness had reported a 31.4 per cent rise in net profit at Rs 59.5 crore (Rs 45.3 crore) owing to a good performance by its product categories. Income grew by 25.5 per cent at Rs 336.4 crore (Rs 268.1 crore).

Top-line growth was driven by 37 per cent growth in formulation exports, 19 per cent in India's formulations business, 25 per cent in its consumer business and 18 per cent growth in API exports, the Ahmedabad-based pharmaceutical major said in a statement here today.

In the year under review, the Group entered into a strategic pact with Abbott to license 24 branded generics in 15 key emerging markets. The deal allows the group to leverage its IP strengths and opens up a new avenue for revenue generation. Also, Zydus Nycomed, the Group's joint venture company with Nycomed, commissioned its newly expanded API manufacturing facility at Navi Mumbai, marking the JV's transition from an intermediate manufacturer to a full-fledged API manufacturer.

Zydus Hospira, the 50:50 JV with Hospira of the US, commenced manufacturing and supply of oncology injectibles for the US market during the year.

In 2010-11, the Group also entered into a 50:50 JV with Bayer HealthCare to set up Bayer Zydus Pharma for the sales and marketing of pharmaceutical products in key market segments domestically.

Published on May 06, 2011

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