Highlights of the call:

On consolidated basis, during FY 2014, Revenue stood at Rs 1133.4 crore, up 4.9%. PBT Excluding Exceptional Items Rs 171.2 crore, up 17.2%.

PBT Margin stood at 15.1% as against 13.5%, up 160 basis points.

PAT Excluding Exceptional Items – Rs 128.2 crore, up 13.2 %.

FY 2014 standalone basis

On standalone basis, for the FY 2014, sales grew 4% to Rs 1044.20 crore.

Company's EBITDA margins for the year ended March 31, 2014 stood at 17.4% (against 18.5%) despite the impact of NLEM, higher R&D spend as Center of Excellence at Goa is fully functional and operational, and higher expenditure with regard to realignment of domestic business divisions.

Domestic Formulations business clocked revenues of Rs 655 crore as against Rs 635.3 crore, up 3%.

Revenues from International Formulation Business grew 1% to Rs 255.2 crore as against Rs

252.7 crore.

Revenues from API business stood at Rs 118.7 crore as against Rs 108.9 crore, up 9%.

PBT Excluding Exceptional Items grew 10% to Rs 178.8 crore.

PBT Margin grew to 17.1% as against 16.2%, up 90 basis points

PAT Excluding EO grew 5% to Rs 135.8 crore.

March 2014 quarter

During March 2014 quarter,

The Company's standalone revenue from operations stood at Rs 244.1 crore for the quarter ended March 31, 2014 against Rs 243.5 crore.

Revenues from Domestic Formulations stood at Rs 139.1 crore as against Rs 142.2 crore in the same period last year.

Revenues from International Formulation Business came in at Rs 74.4 crore compared to Rs 69.9 crore.

Revenues from API business stood at Rs 24 crore for the quarter ended March 31, 2014 compared to Rs 29.2 crore recorded during the same quarter of the previous year.

Other income includes onetime income due to sale of property. The company normally gets Rs 3-4 crore of other income. Maximum it can go to Rs 5 crore.

Going forward

FY 2015 will be much better than FY14 for Domestic formulations due to Re-alignment of acute portfolio and increased focus on lifestyle, dermatology and gynecology therapies, focus on volume growth in existing products and better brands, Price hikes in certain products next year and improving productivity from the existing MRs.

For FY 2015 tax rate is expected to be 22-23%.

The company will incur Rs 150-200 crore of capex for the next 5-6 quarters

Other details

Center of Excellence at Goa is fully functional & operational and filings of ANDAs & DMFs have resumed with 3 ANDAs & 3 DMFs filed during the quarter.

Cumulative filings of ANDAs stood at 31 of which 17 ANDAs are approved (Including 2 tentative approvals).

Cumulative filings of DMFs stands at 35.

Both API plants are working at 100% capacity. So the company is expanding at Pitampur. This is in advanced stage so it will contribute in the next quarter.

The Company has acquired an API facility in Maharashtra, the completion of balance statutory formalities and modification & upgradation are under progress.

During the quarter Domestic portfolio grew at 4.8% as against 6.6% of IPM.

During the quarter Domestic Acute portfolio showed a robust growth of 20.9% as against 4.9% of IPM.

During the quarter Domestic Chronic portfolio fell 3.9% as against a growth of 10.6% of IPM.

Coming quarters gives ray of hopes for the company's Chronic business. It is very confident of coming back to double digit growth on annualized basis. On quarter basis it might vary. Quarter 1 will not have double digit growth but rest three quarters will have double digit growth.

Non NLEM Portfolio grew at 10.3% as against 8.8% of Represented Market.

NLEM portfolio fell by 17.5% as against 12.3% of Represented Market.

Market share of Unienzyme (Therapy- Gastrointestinal) increased by around 2.6% from MAT March 13- MAT March 14.

Market share of Serta (Therapy- CNS) increased by around 3.5% from MAT March 13- MAT March 14.

The company's rank as on MAT March'14 stands at #25 as against #28 in MAT March' 13.

Debt/Equity for FY 2014 stood at 0.03 (Excluding Cash & Cash Equivalents). The company continues enjoy Debt Free status.

ROCE for FY 2014 stood at 25.3%.

ROE for FY 2014 stood at 15.8%.

R&D exp of standalone works out to 5% while it is 4.7% for consolidated financials.

Information on subsidiaries

The company gave details of subsidiaries which till now they were not giving.

Niche Generics Limited, the 100% UK Subsidiary recorded net sales of GBP 10.5 Million for FY 2014 (against: GBP 10.77 Million) and Net Profit of GBP 0.3 Million (against Net Profit of GBP 0.10 Million).

Unichem Pharmaceuticals USA Inc., the 100% US Subsidiary clocked net sales of USD 12.3 Million for the year ended March 2014 (against USD 8.45 Million), up 45.6% and reducing its Net Loss to USD 0.3 Million (against a net Loss of USD 0.62 Million).

The US subsidiary is the major contributor to the consolidated financials.

The company launched 10 products in FY 2013 and no launches were in FY 2014. Run rate for the 10 products will be over $ 1 million.

The company has planned three more launches in the US in 2 quarters. So this gives the confident about the US subsidiaries.

The company has one approval from brazil and two – three more are in the pipeline.

Unichem Pharmaceuticals Do Brasil Ltda, the 100% Brazilian Subsidiary recorded net sales of Brazilian Real 1.74 Million for the year ended March 2014 (against Brazilian Real 1.54 Million) and Net Loss of Brazilian Real of 2.9 Million (against Net Loss of Brazilian Real 2.96 Million).