(1888PressRelease)
June 26, 2008 - Bangalore, India - Bal Pharma Limited today announced its results approved by the Board of Directors for the year ended March 31, 2008.
Highlights of the annual results
Bal Pharma Revenue grew by 18.6%
Profit After Tax (PAT) grew by 38%
PBT grew by 28%
Revenue from our overseas sales grew by 15%
International foray for Ayurvedic products
Increased market presence for Branded formulations
Relaunched Generic division
New manufacturing plant at Uttaranchal is nearing completion and confirms to USFDA and MCHRA guidelines.
Received approval from Therapeutic Goods Administration (TGA), Australia for their API plant at Bommasandra, Bangalore.
Commenting on the results Mr. Shailesh Siroya, Managing Director, Bal Pharma limited said, “The growth in our revenues is a validation of our commitment to reach out to the rural masses with the quality and affordable medicines. Overall we have performed very well and are in line with our goals for the coming years. Bal Pharma achieved a turnover of Rs.90.35 Crore against our achievement of Rs. 76 crore for last year. We are now looking at an exponential growth and focus on achieving a turnover of Rs.300 Crore by the end of the year 2010, almost a fourfold growth by focusing on the Branded Formulations.
At the International level the company is planning to file more DMFs in different countries in next few months, and this would comprise of a basket of products being required by the various market as the company focuses on an advanced healthcare system and demand for all types of pharmaceuticals is high. We have done well to foray into foreign shores and have been successful in making an impact.
###
