DSIJ Mindshare

Torrent Pharmaceuticals accelerates top line by 78.78 per cent

Torrent Pharmaceuticals (TPL) declared its June 2015 quarter result. Revenue of the company rocketed by 74.78 per cent to Rs 1947 crore in Q1FY16 on yearly basis as the company launched new products in US market which has limited competition. Its total expenditure increased by 34.98 per cent to Rs 1038 crore in Q1FY16 compared to same period in previous fiscal year. TPL's total expenditure increased mainly due to a 44.37 per cent increment in other expenses, a 31.34 per cent increment in raw material prices, a 14.13 per cent increment in employee cost during same period.

TPL's EBITDA boosted by 163.48 per cent from Rs 345 crore in Q1FY15 to Rs 909 crore in Q1FY16. The company's EBITDA margin increased considerably to 46.69 per cent with expansion of 1572 basis points in Q1FY16 on yearly basis. Its PAT also increased by 75.39 per cent to Rs 449 crore in Q1FY16 on yearly basis because tax expense increased by 340.86 per cent to Rs 410 crore during the quarter. The PAT margin of the TPL expanded by 8 basis points to 23.06 per cent in Q1FY16 compared to same period in previous financial year.

Considering geographic segment, TPL's sales from India segment increased by 61.56 per cent to Rs 601 crore in Q1FY16 on yearly basis. The company's sales from outside India increased by 78.25 per cent to Rs 1287 crore in Q1FY16 compared to same period in previous fiscal year.

TPL's shareholding pattern indicates that FII holdings expanded by 11 basis points to 12.37 per cent and DII holdings contracted by 4 basis points to 6.72 per cent in Q1FY16 during June 2015 quarter. The stock price of the company increased by 8.8 per cent to 52 week high at Rs 1520 and trading at Rs 1424.7 on intraday. TPL completed its acquisition of 100 per cent equity stake of Zyg Pharma on July 17, 2015.

TPL manufactures and sells brands as well as unbranded generic pharmaceutical products. The company has manufacturing plants located at Indrad, Baddi and Sikkim. It has a fully equipped Research Center with 600 scientists to support its operations and product pipeline for both domestic as well as overseas market.TPL operates in Indian and global markets. International operations include the United States of America, Brazil, Europe and rest of the world, including less regulated markets of Africa, Asia Pacific and Russia and Commonwealth of Independent States. The company has many of its products ranking among the top 500 brands as per the All Indian Origin Chemists & Distributors Ltd dataset. 

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