Claris Lifesciences Limited Un-audited Financial Results for the Quarter Ended 30th June 2014

Claris Lifesciences Ltd. today announced its quarterly and half yearly un-audited financial results for the quarter and half year ended 30^th June 2014 at its board meeting held at its registered office in Ahmedabad.

Key Financial Highlights of Consolidated Numbers:

·         The Net Revenues for Q2CY14 and H1CY14 stood at Rs. 1,511 mn and 2,841 mn respectively, the numbers for the same period in the previous year stood at Rs. 2,022 mn and Rs. 3,844 mn respectively.

·         The Earnings Before Interest Tax Depreciation and Amortisation (EBITDA) for Q2CY14 and H1CY14 stood at Rs. 414 mn and Rs. 796 mn respectively, the numbers for the same period in the previous year stood at Rs. 685 mn and Rs. 1,226 min respectively.

The EBITDA margin for H1CY14 stood at 28% of the Net Revenues.

·         The Profit After Tax (PAT) for Q2CY14 and H1CY14 stood at Rs. 155 mn and Rs. 288 mn respectively, the numbers for the same period in the previous year stood at Rs. 182 mn and Rs. 336 min respectively.

The PAT margin for H1CY14 stood at 10% of the Net Revenues.

The results are not comparable to the same periods in the previous year due to the transfer of the Infusion business in India and Emerging Markets to the Joint Venture in August 2013.

Key Financial Highlights of the Speciality Injectable Business:

§  Gross Revenues for H1CY14 stood at Rs. 1745 mn

§  EBITDA for H1CY14 stood at Rs. 570 mn

§  EBITDA Margin for the Speciality Injectable Business stood at 33%

§  Region wise Sales Breakup:

o   Emerging Markets:                    49%

o   USA:                                             17%

o   Other Regulated Markets:        34%

The Speciality Injectable business has seen an increase of 30% over H1CY13 mainly on the back of increased sales traction from countries like the US, UK, Philippines, Brazil and Venezuela to name a few.

Other Key Highlights

·         The capacity expansion in the new plant has commenced with the delivery of the first of the two lines planned in this phase of expansion, this line has been installed and is ready for commercial sales.

·         The second line is expected to be ready for manufacturing by end of this year.

·         The Company has received the re-approval of its Flagship plant from the USFDA and has also received approval for the API plant during the audit conducted in October last year. The API plant manufactures Iron Sucrose and HES for captive consumption, company is awaiting the products approval of the Iron Sucrose finished formulation in the USA.

About Claris Lifesciences Limited

Claris Lifesciences Limited (BSE Code: 533288) is one of the largest sterile injectables pharmaceutical companies in India. The company manufactures and markets products across various therapeutic segments including Anaesthesia, Plasma Volume Expanders, Blood Products, Parenteral & Enteral Nutrition, Infusion therapy, Anti-infective and Renal Care. A significant majority of these products are generic drugs that are capable of being directly injected into the human body and are predominantly used in the treatment of critical illnesses.

The company has 3 manufacturing plants; at its campus on the out skirts of Ahmedabad. With emphasis on Quality, Technology & Innovation, Claris offers a range of niche technology-driven injectable products across delivery systems such as glass bottles, glass vials & ampoules, and non-PVC/PVC bags. Claris’ sterile injectables facilities have been approved by regulatory authorities including USFDA, MHRA (UK), TGA (Australia), and GCC FDCA. The company’s manufacturing capabilities have several times received awards from prestigious institutions like Frost & Sullivan and IDMA.

For more information about the company, log on to: www.clarislifesciences.com