IPO proceeds to fuel expansion in CRAMS.
Mumbai, Maharashtra, India, July 1, 2008 (PRESSbooth.ORG) -- Anu's Laboratories, the recently listed pharmaceutical company that raised Rs. 802.20 crore in June 2008 has posted excellent results for the year ended 31st March 2008.
The Net Sales of the company has jumped 41.41 % to Rs. 154.39 crore as against Rs. 109.17 crore for the same period last year. The Profit After Tax has increased 33% to Rs. 18.07 crore over Rs. 13.59 crore in the previous year.
The Earning Per Share is Rs. 21.89 as compared to Rs. 17.04 in the last financial year.
"The current set of numbers is consistent with our expectations and from here on our focus will be growth through CRAMS." Said Mr. Hari Babu, Managing Director, Anu's Laboratories Ltd.
The last Quarter of Financial Year 2007 - 08 has contributed Rs. 47.39 crore to the topline, 62 % over Rs. 29.24 crore for the fourth quarter of FY07
The company raised about Rs 80.22 cr through sale of 3.82 million shares in its initial public offering, which closed on May 15, to finance its expansion activities.
The company plans to utilize the IPO proceeds in order to diversify and expand its business activities by means of forward integration. The Company plans to expand its operations in Contract Research and Manufacturing (CRAM) by setting up a new plant for manufacturing of drug intermediates including Active Pharmaceutical Ingredients (APIs) at Vishakhapatnam
The issue, which was oversubscribed by 8.43 times, constituted 31.63% of diluted post-issue capital of the company in April 2008.
Shares of the company got listed at Rs 260, up Rs 50, or 23.81%.
About Anu's Laboratories Ltd.:
Anu`s Laboratories is a company engaged in the manufacturing of basic, advanced intermediates and fine chemicals and supplying them to various drug manufacturers. The Company exports to countries like Israel, Italy, Japan, France, USA and Singapore contributing 20 % to its turnover.
The manufacturing plants of are located at Chilakamarri Village, Shadnagar of Mehboobnagar district in Andhra Pradesh.
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