Posts net sales of Rs 864 crore and revenue of Rs 4,015 crore
Wockhardt, pharmaceutical and biotechnology company, reported its 4th Quarter and annual results for financial year 2017. The company’s performance during the quarter was affected by subdued business in US & UK market, continued impact on account of Brexit and remediation costs.
Consolidated revenue for FY16-17 was Rs 4,015 crore and EBIDTA was at Rs 26 crore. International Business contributed 62 per cent of the total revenues during the FY16-17.
India business grew by 6 per cent in FY16-17. 24 new products were launched in FY16-17 but during the quarter de-grew by 4 per cent in comparison to Q4FY16 mainly on account of demonetisation.
Emerging market business of the company continued to grow by 15 per cent in Q4FY17 compared to Q4FY16
Intellectual Property (IP) base resulted into filing of 54 patents during the Quarter ended March 31, 2017 taking the cumulative filings to 2,904. The company was granted 11 patents during the quarter and now totally holds 553 patents.
EBITDA excluding one-time opportunities and before R&D spend was Rs 423 crore (margin at 11 per cent to sales) compared to Rs 699 crore (margin at 17 per cent to sales) in the previous year.
Capital expenditure of Rs.409 crore (14 per cent to sales) was incurred in FY16-17.
UK Business in GBP terms excluding one time opportunity grew by 8 per cent in FY16-17 compared to FY15-16. It made seven new fillings and received three new approvals in UK market in FY16-17.
The company made 4 new fillings in Q4FY17 and received 2 new approvals taking the cumulative ANDA’s pending for approval at 83.