The Board of Directors of Kilitch Drugs India Limited announced its un-audited results for the second quarter ended on September 30, 2018 following its approval by the Board of Directors in a meeting held in Mumbai on November 07, 2018.

 Q2FY19 Performance (YoY)

The Company’s total revenues increased to Rs. 26.72 crores as compared to Rs. 14.95 crores in the last financial year.

The net sales for the half yearly at Rs. 58.94 crores – accounting for more than 151.13% of the company’s net sales in FY18.

The company registered an EBIDTA (Earnings before Interest, Depreciation, Taxation & Amortization) improved to Rs. 6.41 crore as compared to Rs. 2.69 crore in Q2FY18.

The EBIDTA for the quarter accounted for Rs. 138.29% of the total EBIDTA posted in FY19 EBIDTA margin were driven by improved demand as well as exchange rate gains.

Net profit for the quarter increased to Rs. 4.49 crore in Q2FY19 from Rs. 2.23 in Q2FY18.

Kilitch Drugs EPS has increased to Rs. 3.20 in September 2018 from Rs. 1.69 in September 2017.

The company remained a zero-debt company during the quarter

Business Developments during Q2FY19

The company continued its focus on its Cephalosporin plant in Addis Ababa, Ethiopia – the first such plant in the country for Kilitch Drugs which is set up in partnership with Estro. With the aim to produce 20-25 million vials capacity in manufacturing multiple products including dry syrup, tablets, capsules, the plant is on-course to commence commercial production by mid FY2019. The plant will significantly boost the company’s presence in the African markets in terms of improved margins and high capacity. The revenue generation from the plant is expected to contribute Rs 100 crore in sales beginning FY2020.

The company is also scouting opportunities to start manufacturing in 2-3 large African countries through partnerships. The company so far registered 320 products across Africa, plans to scale it up to 500 products in coming quarters.    

Speaking on the performance,Mukund P Mehta, Managing Director, Kilitch Drugs (India) Ltd. stated, “In the second quarter of the financial year, our robust operations have increased manifold as per the estimates. The company recorded a strong growth in exports both in terms of value & volume and will continue its growth trajectory. The Company continues to enjoy a comfortable liquidity position.”