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Claris Lifesciences Limited

Claris Lifesciences Limited Un-Audited Financial Results for the Quarter Ended 30th September 2014

Nov 10, 2014   12:41 IST 
New Delhi, Delhi, India

Claris Lifesciences Ltd. (CLL) announced its quarterly un-audited financial results for the quarter ended 30th September 2014 at its board meeting held at its registered office in Ahmedabad.


On the 31st of October, after the receipt of the Board and Shareholder’s approval the Speciality Injectable Business has been transferred to a wholly owned subsidiary; Claris Injectables Limited (CIL). CLL is now a holding company having three segments, (i) 100% ownership of CIL (ii) 20% stake in COL (JV Company) and (iii) Investments and Cash management of CLL.


Key financial highlights of the consolidated financials of Claris Lifesciences Ltd.:

  • The revenues of CLL also include the pass through sales of COL for the international markets. The Net Revenues for Q3CY14 stood at Rs. 1,621 mn as compared to Rs. 1,511 mn in the previous quarter. The consolidated revenues have grown by 7% over the previous quarter.


  • The Earnings Before Interest Tax Depreciation and Amortisation (EBITDA) for Q3CY14 stood at Rs. 515 mn, as compared to Rs. 414 mn in the previous quarter. The EBITDA margin for quarter stood at 32% of the Net Revenues. The EBITDA for Q3 has grown by 24% over the previous quarter.


  • The net profit (PAT) for Q3CY14 stood at Rs. 204 mn as compared to Rs. 155 mn in the previous quarter.



The PAT margin for Q3CY14 stood at 13% of the Net Revenues. The Q3 profits have grown by 32% over the previous quarter.


Management Representation of the Financial of the Speciality Injectable Business:

(Values in Rupees Mn)




QoQ Change



QoQ Change


Net Sales
















EBITDA Margin (%age)










Region wise Net Sales:




QoQ Change



QoQ Change










Other Regulated (Ex US)








Emerging Markets










Key financial highlights of the Specialty Injectable Business:

  • Net Sales has grown by 36% in Q2 vs. Q1 and by 17% in Q3 vs. Q2.


  • EBITDA has grown by 64% in Q2 vs. Q1 and by 19% in Q3 vs. Q2. The EBITDA Margin as a %age to Total Revenues stood at 36% for the 9 months ended on 30th September 2014


  • US has been the key growth driver this year, with sales having grown by 113% in Q2 vs. Q1 and by 54% in Q3 vs. Q2, the Other Regulated Markets (ex US) have grown by 64% in Q2 vs. Q1 and by (-9%) in Q3 vs. Q2, Emerging Markets have grown by 7% in Q2 vs. Q1 and by 20% in Q3 vs. Q2.


  • The US is the most important region and the Company has filed at total of 36 ANDAs in the US, out of which 13 ANDAs have been approved and another 23 are under approval. The total addressable market size of the 36 ANDAs is approximately US$ 2,000 million, out of which the market size of approved ANDAs and under approval ANDAs stood at approximately US$ 200 million and US$ 1,800 million respectively.


  • The Company has invested in capacity expansion in the new facility; which is now up and running, with one out of the two lines; planed in this stage; operational for commercial production and also having received approval from the MHRA(UK). The second line is expected to be operational by March 2015.



Other Updates

The Board of Directors of the Company have duly approved to change the financial year of the Company from January – December (calendar year) to April – March (financial year as per Indian GAAP). Accordingly, the Company’s current financial year shall be for a period of fifteen month ie. from January 01st, 2014 to March 31st, 2015



This press release may include "forward-looking statements" which involve a number of risks, uncertainties and other factors that may cause actual results to differ materially. Such factors include, but are not limited to, changes in local and global economic conditions, our ability to successfully implement our strategy, the market acceptance of and demand for our products, our growth and expansion, technological change and our exposure to market risks. By their nature, these expectations and projections are only estimates and could be materially different from actual results in the future. Claris Lifesciences Limited does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date thereof. Market information mentioned in the press release is based on IMS Data and/or internal estimates of the company. The press release also contains the carved out financials of the business transferred to Claris Injectables Limited (CIL), these carved out business are management representations and are not audited numbers.


About Claris Lifesciences Limited (CLL):

Claris Lifesciences Limited (BSE Code: 533288) the Holding Company (Hold Co.) with three segmental revenues, (i) the Speciality Injectables Business which is housed in a wholly owned subsidiary; Claris Injectables Limited, (ii) 20% stake in the Joint Venture with Otsuka and Mitsui for the Infusion Business in India and Emerging Markets, and (iii) the Treasury and Cash management for the funds in the Hold Co.


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About Claris Injectables Limited (CIL):

Claris Injectables Limited is one of the largest sterile injectables pharmaceutical companies in India. The company manufactures and/or markets products across various therapeutic segments including Anaesthesia, Plasma Volume Expanders, Blood Products, Parenteral, Infusion therapy, Anti-infective and Renal Care. A significant majority of these products are generic drugs that are capable of being directly injected into the human body and are predominantly used in the treatment of critical illnesses.


The company has 3 manufacturing plants; at its campus on the out skirts of Ahmedabad. With emphasis on Quality, Technology & Innovation, Claris offers a range of niche technology-driven injectable products across delivery systems such as glass bottles, glass vials & ampoules, and non-PVC/PVC bags. Claris’ sterile injectables facilities have been approved by regulatory authorities including USFDA, MHRA (UK), TGA (Australia), and GCC FDCA. The company’s manufacturing capabilities have several times received awards from prestigious institutions like Frost & Sullivan and IDMA.


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About Claris Otsuka Private Limited (COL):

Claris Otsuka Private Ltd. (Claris Otsuka) is a Joint Venture between Claris Lifesciences Ltd., India, Otsuka Pharmaceutical Factory, Inc., Japan and Mitsui & Co. Ltd., Japan, for Claris' Infusion Business in India and Emerging Markets. The company primarily manufacture & market products across multiple markets and therapeutic segments. Claris Otsuka, a leader in intravenous nutrition products, is committed to being the best partner of patients and healthcare professionals in the field of clinical nutrition.


The company has products ranging across various therapeutic segments, including infusion therapy, Parenteral nutrition, anti-infective, and plasma volume expanders. We offer injectables in various delivery systems, such as glass and plastic bottles (EURO Head & Nipple Head), ampoules, and non-PVC/PVC bags. The company’s customer base primarily includes government and private hospitals, aid agencies, and nursing homes.


The company has two state-of-the-art plants at our manufacturing facility located in Ahmedabad, India. One of the facilities has been approved by foreign regulatory authorities including ANVISA (Brazil).


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