Sun to commission Dadra plant

24 January 2002

Sun Pharma is planning to exit from its cephalosporin business, and is converting its Ankleshwar plant to manufacture high-value speciality intermediates. The decontamination process is expected to cost the company Rs 3.5 crore.

Four of the companys plants Vapi, Silvas1, Silvas2 and Ahmednagar recently won the prestigious IDMA quality excellence awards (as against two awards won last year). Ahmednagar and Silvas2 won gold medals, while the Vapi and Silvas1 plants won the certificate of merit in their turnover category.

During the year, the Ahmednagar bulk drug plant received USFDA approval as well as ISO14001 for Environment Management Systems, while the companys Panoli bulk-drug plant received ISO9002 approval.

Across Sun Pharmas nine divisions, more than 30 new speciality products (last year same period: 25), developed at it R&D centre in Baroda, were launched in the first nine months this fiscal year. Of these, the asthma metered dose inhaler Combitide, the allergy medication Deslor/Dazit and the antiepileptic Oxetol are expected to emerge as primary brands of choice in their therapy areas.

The company, meanwhile, has announced its third quarter results. Its PAT increased 36 per cent to Rs 46.4 crore (Q3-00/01: Rs 34.1 crore) and the turnover increased 25 per cent to Rs 196.8 crore (Q3-00/01: Rs 157.8 crore). The domestic formulation sale for the quarter was up 27 per cent to Rs 120.3 crore (Q3-00/01: Rs 94.9 crore). Exports were up by 33 per cent to Rs 37.6 crore (Q3-00/01: Rs 28.2 crore). The EPS for the quarter was up by 40 per cent to Rs 9.9 after the preference shares were fully redeemed during the quarter.

For the nine months ended 31 December 2001, the PAT increased 31 per cent to Rs 135.3 crore (nine months 00/01: Rs 103.6 crore) and the turnover increased 25 per cent to Rs 560.2 crore (nine months 00/01: Rs. 449.9 crore). Domestic formulation sales were up 27 per cent to Rs 358.2 crore (nine months 00/01: Rs 281.7 crore). Exports crossed Rs 103.5 crore, up by 25 per cent as against Rs 82.7 crore.