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Albert David turnover set to touch Rs 100 cr

Kohinoor Mondal

KOLKATA, July 31

FOR the first time in its 62 year-history, Albert David Ltd is confident of registering a Rs 100-crore turnover during the current financial year with the introduction of new drugs, which are highly profitable, according to the Executive Director, Mr K.P . Mundhra

Mr Mundhra told Business Line the pharma industry might go through a recession, but Albert David was well on course to register its highest turnover. ``The first four months have been extremely good. The results are promising. The new drugs have been wel l received by the medical fraternity. I am sure we will record a turnover of Rs 100 crore by this fiscal.''

For the year ended March 31, Albert David registered a minor growth in turnover to Rs 87.98 crore from Rs 85.87 crore. Gross profit shot up to Rs 6.65 crore from Rs 4.59 crore and net profit jumped to Rs 2.57 crore from Rs 67.97 lakhs. The company paid a dividend of Rs 1.20 on every equity share of Rs 10.

Results of the first quarter of 2001-02 are more promising. Turnover went up by 38 per cent to Rs 21.97 crore from Rs 15.91 crore compared to the corresponding period of the previous fiscal. Gross profit increased by 65 per cent to Rs 2.19 crore from Rs 1.33 crore and net profit increased by 105 per cent to Rs 1.46 crore from Rs 71.94 lakhs.

``Last year, we registered a turnover of Rs 86 crore and the shortfall was Rs 14 crore against the target of Rs 100 crore. In the first quarter, we have already covered Rs 6 crore and rest would be covered during the next three quarters,'' he said.

About a month back, Albert David launched Placentrex Gel for the treatment of wounds, burns and vitiligo. The company is pinning a lot of hope on this product.

Earlier in the day, addressing the shareholders in the 62nd annual general meeting, Mr A.K. Kothari, Chairman, said Placentrex Gel was Albert David's ``prestigious new research product''. It would have several uses in the cosmetic field too, he said.

``This product will really change the financial position of the company. It was successfully tested on the injured Indian soldiers during the Kargil war. Medical practitioners all over India have accepted it,'' Mr Mundhra said.

The company also launched Alrof, a refocoxib tablet for treatment of acute pain and oestoe-arthritis.

Two new creams are set to be introduced in the market. The first is Slozin Cream for management of burns and second is Quin-4 Cream for the treatment of several steroid and anti-fungal responsive disorders.

The other new drugs likely to be introduced are Adlin Gel for joint and low back pains, strain and sprain, Geflam capsule for musculo-skeletal disorders and Siofin for the treatment of infections.