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Shilpa Medicare net declines by 5.9% in Q1, plans to split face value

Shilpa-Medicare

Shilpa Medicare, a Rs. 600 crore plus pharma company from Karnataka, has received setback during the first quarter ended June 2015 as its consolidated net profit declined by 5.9 per cent to Rs. 16.06 crore from Rs. 17.07 crore in the corresponding period of last year. EBDITA also declined by 6.9 per cent to Rs. 28.42 crore from Rs. 30.53 crore. Its net sales improved by 6.9 per cent to Rs. 148.50 crore from Rs. 138.90 crore. Its EPS declined to Rs.4.17 from Rs. 4.53 in the last period. Shilpa-Medicare

The Board of Directors has approved the split of face value of the equity of share of Rs. 2/- each into two equity shares of Rs. 1/- each subject to the approval for shareholders. The company’s share moved up by Rs. 35.15 to Rs. 1087 on BSE in the afternoon session. The scrip touched to its yearly highest level at Rs. 1246.70 on August 5, 2015.

Its standalone net sales improved 13.5 per cent to Rs. 143.86 crore from Rs. 126.73 crore. Its net profit improved by 11.8 per cent to Rs. 21.28 crore from Rs.19.03 crore. During the quarter ended June 2015, Shilpa Medicare has reduced its stake in Maia Pharmaceuticals Inc., a joint venture entity to 34.80 per cent from 49.8 per cent.

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