ABBOTT INDIA LTD
Add to watch list to get report alerts
BSE Code:
500488
NSE Code:
ABBOTINDIA
Business Profile
Business Profile
Abbott India (ABBOT), formerly known as Knoll Pharmaceuticals, has its presence in both OTC drugs and formulations (dosage form). Majority of the company`s revenues come from insulin and formulation sales. Other products like Brufen and Digene pertain to their respective therapeutic segments.
The company`s product portfolio provides therapies for both acute and chronic health conditions. It is engaged in pharmaceutical formulations including tablets, liquids, injectibles and capsules, and nutritional products including powder. The installed capacity for tablets is 450 million, while for liquids it is 5,185 Kilo liter, and for capsules 46 million. Powder has an installed capacity of 600 tons. However, the company produced 25 million tablets, 1,141 kilo liters of liquids and 29 million capsules.
It is the company`s strategy to continue to focus on its core therapeutic areas in pharmaceuticals, viz, CNS, gastroenterology, metabolics, pain management, urology, specialized anesthesia range and neonatology. Growth in chronic therapy areas is expected to continue while innovations and life cycle management will continue to support performance of the company in acute therapy segments. The performance of Abbott India is in line with trends observed in the market, viz., good growth in chronic disease areas. However, the volumes in acute therapy areas such as gastroenterology and pain management continue to be under pressure.
The company plans to augment its R&D activities by focusing on new product development, improvement in the present formulations/process and improving operational efficiencies. The company now employs approximately 65,000 people and markets its products in 130 countries worldwide.
Abbott India has a network of 18 distribution points, which cater to 11,000 stockists and 70,000 retailers.
Financials
Abbott India registered a 34.66% growth in net profit to Rs 183 million for the quarter ended May 2007 from a profit of Rs 135.9 million for the quarter ended May 2006.
Net sales rose 18.8% to Rs 1,540.4 million for the quarter ended May 2007 from Rs 1,296.6 million for the quarter ended May 2006.
Total income rose 20.19% to Rs 1,618.7 million for the quarter ended May 2007 from Rs 1,346.8 million for the quarter ended May 2006.
The earnings per share (EPS) of the company stood at Rs 12.65 for the quarter ended May 2007.
Recent Developments
02-APR-07
1. Abbott India has informed BSE that the company has bought back 807,360 equity shares of Rs 10 each through a tender offer at a price of Rs 650 per share. The company has extinguished the said 807,360 equity shares on March 30, 2007 and in view of the same, the issued subscribed and paid up equity share capital of the company stands reduced to Rs 144,727,400 consisting of 14,472,740 equity shares of Rs 10 effective March 30, 2007. 2. Further, consequent to the said share buyback, the promoters` shareholding stands indirectly increased from 61.7% to 65.14%.