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Vaishali Pharma Limited Earnings Release 2020
62707_rns_2020-07-30_f3f6e307-1f5c-4002-9caa-6f368e4e104b.pdf
Earnings Release
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(Formerly known as Vaishali Pharma Pvt. Ltd.)
CORPORATE .& REGISTERED OFFICE: 706-709, 7th Floor, Aravali Business Centre, R. C. Patel Road, Off. Sodawala Lane, Borivali (West), Mumbai-400 092. Tel.: +91-22-4217 1819 (30 Lines) Fax: +91-22-28928833 E-mail : [email protected] [email protected] CIN - L52310MH2008PLC181632
30th July, 2020
To,
National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot No. Cj1, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051
Stock 'Code: V AISHALI
Dear Sir jMadam,
Sub: Press Release on Financial Performance and Key Developments for the Year Ended 31st March 2020.
We refer to captioned subject, we would like to inform you that the Company was amongst the leading players in the supply of pharma products such as Bulk Drugs / APIs, Formulations, Surgical Products, Veterinary supplements, Herbal & Nutraceutical products.
The Company has achieved significant milestone by migrating to NSE Main Board from SME platform. On the business front, the Company has made remarkable progress. The Company has received the Orders for supply of various Multivitamins from its existing clients from DR Congo, Nicaragua, Myanmar & Zimbabwe and few more and delivered the order as committed to help their clienteles to fight amidst COVID-19 pandemic.
Please find enclosed herewith a copy of Press Release giving information about the same and many more.
We request you to kindly take the same on record.
Thanking you.
Yours faithfully, For Vaishali Pharma Limited
~Ar(}tt V...?
Att:~sani Managing Director
Vaishali Pharma Limited
CIN: L52310MH2008PLC181632
EARNING SYNOPSIS:
On Standalone basis for the year FY2019-20,
PAT: INR 0.33 Mn
Revenues: INR 622.58 Mn
EBITDA: INR 29.99 Mn
The decline in profits was on account of one-time write-off of receivables to the tune of INR 33.68 Mn
Mumbai, July 30, 2020: Vaishali Pharma Limited (NSE Symbol: VAISHALI), amongst the leading players in the supply of pharma products – Bulk Drugs / APIs, Formulations, Surgical Products, Veterinary supplements, Herbal & Nutraceutical products, today announced its results for the half year and the full year ended on March 31, 2020.
H2FY2019-20 Performance:
The company has recorded revenue of INR 328.18 Mn in H2FY2020 as against INR 563.96 Mn for the same period last year. EBIDTA stood at INR 9.01 Mn with margins of 2.75% versus 3.68% on y-on-y basis. The company posted loss of INR 5.52 Mn in H2FY20 against PAT of INR 4.03 Mn. in H2FY2019.
FY2019-20 Performance:
The company has recorded revenue of INR 622.58 Mn in FY2020 as against INR 770.73 Mn in FY2019. The decline in revenue was mainly on account of lower revenues from the API business. Exports revenues during the year stood at INR 133.87 Mn as against INR 123.10 Mn in FY2019. EBIDTA stood at INR 29.99 Mn with margins of 4.82% versus 5.24% on y-on-y basis. Profit after tax (PAT) dropped by 96% to INR 0.33 Mn in FY2020 from INR 7.14 Mn. in FY2019. The sharp decline in profits was mainly attributable to the write-off of INR 33.68 Mn on account of receivables.
| Rs. In Mn. | H2FY2020 | H2FY2019 | % YoY | FY2020 | FY2019 | % YoY |
|---|---|---|---|---|---|---|
| Total Revenue | 328.18 | 563.96 | -42% | 622.58 | 770.73 | -19% |
| EBITDA | 9.01 | 20.76 | -57% | 29.99 | 40.40 | -27% |
| EBITDA Margin (%) | 2.75% | 3.68% | 4.82% | 5.24% | ||
| PAT | -5.52 | 4.03 | -237% | 0.33 | 7.14 | -96% |
| PAT Margin (%) | -1.68% | 0.71% | 0.05% | 0.93% | ||
| EPS | -0.52 | 0.61 | 0.03 | 1.08 |
CIN: L52310MH2008PLC181632
Commenting on the FY2020 performance, Mr. Atul Vasani, Managing Director, Vaishali Pharma said, 'Excluding one-of write-offs, we have posted satisfactory result during the year. We are striving hard to double the product range in coming years and working in that direction with registration of products in various countries. We are very optimistic about the growth outlook going forward driven by both the domestic and international as the Company has launched many innovative products and many approvals are under the pipeline.'
He further added, 'We are expecting a strong demand for medicines & consumables from all the countries amidst this pandemic, which will help us to penetrate new markets and drive our future business. Indian Pharmaceutical products have received greater acceptance across the global markets especially during such precarious times. The company is all geared up to step up its growth in coming years with established products in various geographies and strong pipeline of new product filings and approvals and also newer geographies to be explored.'
Major Development during the year:
The Company has achieved significant milestone by migrating to NSE Main Board from SME platform. On the business front, the Company has made remarkable progress. Some of the key achievements during the year are as follows:
- The Company has received FSSAI Licence and launched Nutraceutical products innovative Nutraceutical Oral Sprays for both domestic and international markets.
- During FY2020, the Company has filed for 30 new Products across 7 countries, got 12 product registrations from 4 countries, and expanded in central America, Kenya, Morocco, Myanmar & Cambodia.
- The Company has launched vitamins in the form of Gummies in Domestic as well as International markets, which are easy to consume for all age group.
- Few of the key product approvals received during the year:
- Three products (i.e. VMOX CV-1200, VMOX CV-600, and CYBUFIN-1500) in the high growth market of Myanmar.
- Four products (i.e. Cellargy, Coldaway, Combicough and Coughquit) across different dosages in the market of Cambodia, Asia.
- Three products across different dosages in the Nicaragua market.
CIN: L52310MH2008PLC181632
Business Updates:
The Company has received the Orders for supply of various Multivitamins from its existing clients from DR Congo, Nicaragua, Myanmar & Zimbabwe and few more and delivered the order as committed to help their clienteles to fight amidst COVID-19 pandemic.
The Company has taken a stride forward to fight against the COVID-19 pandemic by launching personal care and hygiene products, such as masks, PPE kits, sanitizer, nutraceuticals products for boosting immunity. Apart from these, Company has developed and launched immunity booster Vitamin C supplements "Vipravita C" to meet the need of customers emerged from prevailing pandemic in both domestic and international markets.
Moreover, they have launched two Anti-Fungal Brands namely, Fungi quick and Conazal into the Dermatology therapy segment to reach out the vast domestic pharmaceutical market. These products are targeted to the Dermatologists and General Practitioner's for treating fungal infection. By this, company can garner sizeable market share in the products and is likely to add more products to its basket going forward.
About Vaishali Pharma Limited:
Vaishali Pharma Limited (NSE: VAISHALI), abided by the norms of extending uncompromised quality products, has raised the standards of the Pharmaceutical & Healthcare industry time and again. Through unwavering dedication, consistent efforts and endless innovation we enjoy an Export House status. Company's products' quality is certified by ISO 9001:2015 certification for the Quality Management from ISC Global.
Incorporated in the year 1989, Vaishali Pharma Limited is a globally well trusted brand with high quality products, accepted by companies across the globe. The Company is amongst the leading players in the supply of pharma products – Bulk Drugs / APIs, Formulations, Surgical Products, Veterinary supplements, Herbal & Nutraceutical products, with a wellestablished brand known for its high-quality products & services amongst various clients globally. The company has over 80 formulation brands marketed in multiple countries; of which dossier is in CTD format along with its respective bioequivalence. The company has built a robust pipeline of around 250 Dossiers (with around 120 approvals). The Company's synergistic collaboration with WHO-GMP manufacturing facilities is backed by an excellent rapport with clients.
Strong commitment of providing quality products is backed by in-depth industry knowledge, well-qualified team of professionals, as well as hi-tech and advanced infrastructure. Resulting in creating mutually beneficial associations for all the clients.
Vaishali Pharma Limited
CIN: L52310MH2008PLC181632
Adapting quickly to the ever-evolving demands, the Company has emerged as one of the fastest growing organization in the pharmaceutical industry in export of healthcare products from India. With headquarters located in the economic hub of India, Mumbai, our offices are also located in Kenya, & Vietnam. Further widening our reach overseas, the Company made a joint venture with D.R. Congo based company. The Company exports to countries like Africa, Kenya, Myanmar, Vietnam, Russia etc.
Adhering to high quality standards is not an accident but our habit. Passionate to be the best, we take pride in what we do and strive to deliver products with zero defects.
For more details please visit: www.vaishalipharma.com
For any Investor Relations query, please contact:
Mr.Atul Vasani Managing Director Vaishali Pharma Limited Email: [email protected]