Financial Daily from THE HINDU group of publications
Thursday, Jun 12, 2003
Financial Daily from THE HINDU group of publications Thursday, Jun 12, 2003 |
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Markets
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Stock Markets Exports, products seen boosting Nicholas Piramal Aparna Krishnan
MUMBAI, June 11 Exports and sustained inflows from new products appear to have attracted investors to Nicholas Piramal . The stock has already witnessed a 15-per cent rise in the last one-month and analysts predict a better performance going forward. On the exports front, several initiatives taken in early 2003 seem to be boosting sales. The company recently merged Global Bulk Drugs & Fine Chemicals, which has considerable exports business. Theexportsprojected for 2003-2004 is Rs 100 crore, against Rs 35 crore estimated for 2002-03, the company recently stated. NPIL is also banking on exports of vitamins products that it inherited from Roche. New products have also contributed considerably to the revenues. "The inherent strength in the business can also be gauged from the success of new products launched in the last year. These products contributed Rs 64 crore to revenues, about 5 per cent of sales. For 9 out of the 15 new products introduced in FY03, the company is among the first five players to have launched these products," said an analyst from a domestic brokerage firm. Today, the stock closed higher by 4.04 per cent on the BSE at Rs 291.15 with 25,427 shares being traded. On the NSE, the stock surged 4.30 per cent to close at Rs 291 with 92,591 shares changing hands. For the year ended March 31, 2003, the net profit of the company was Rs 118.12 crore compared to Rs 48.24 crore in the previous year. The company's net sales for the year stood at Rs 964.22 crore as against Rs 803.85 crore. Net sales for the quarter ended March 31, 2003 stood at Rs 267.19 crore as against Rs 208.92 crore in the same period last year.
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