Company Overview

(In Rs Millions, except per share data)

Company Information
Industry Pharmceuticals
Sector
Pharma
Country
India
Current Market 753.00
Price
Rs
Ticker
AUROPHARMA
Market Capitalization
48,655.61(Rs in Mn)
Relative Index
S&P CNX Nifty
Year end
31-Mar
Reporting currency
INR

Company Description
Aurobindo Pharma, incorporated in 1986 is a Hyderabad bas

as an API supplier focusing on antibiotics like Semi Synthetic P

Products
Aurobindo is a leading player in APIs and has a strong presen

Indian company and is the second largest globally. Aurobindo

Per Share Data & Key Ratios

3 months 3 months
For the Fiscal Jun-30Period Ending
Sep-302008
2008

3 months
Dec-312008

EPS diluted (reported)

2.43
(7.15)
6.19
Operating
Margin
(%)
12.37%
13.27%
16.74%
EBITDA/sales (%)16.41%
17.77%
21.55%
EBIT/sales (%) 12.59%
13.79%
17.44%
Net income/sales2.32%
(%)
-5.31%
5.53%
Interest
Cover
8.75
8.23
6.40
ROE
Quarterly data not available
EV/Sales
EV/EBITD
A
P/E
P/Sales

3 months
Mar-312009

FY2009 A

3 months
Jun-302009

3 months
Sep-302009

12.37

15.43

25.76

14.04

16.21%
20.87%
16.82%
9.21%

14.76%
19.27%
15.28%
3.27%

19.65%
23.94%
19.92%
20.13%

14.08%
17.26%
14.44%
8.75%

6.78

7.26
8.16%

8.73
3.29
Quarterly data not available
1.55
8.98
13.41
1.20

P/BV

Quarterly data not available

Geographic Revenue
India
24,443.84
China
366.56
Rest of the World
6,432.02
Consolidated31,242.43

Revenue Forecast

Revenue Data
FY2007 A
Formulations 7,196.20
Active Ingredients
15,306.00

FY2008 A
10,048.00
15,476.00

FY2009 A
14,098.00
16,466.00

FY2010 E
21,408.62
17,956.84

FY2011 E
28,084.81
20,728.37

FY2012 E
34,825.16
25,703.17

FY2013 E
42,486.70
31,357.87

% Y-o-Y Growth

13%

20%

29%

24%

24%

22%

porated in 1986 is a Hyderabad based pharma company, which initially forayed into the pharmaceutical sector

g on antibiotics like Semi Synthetic Penicillins (SSPs) and Cephalosporins, emerging a market lead

yer in APIs and has a strong presence in SSPs, CCPs, and ARVs. Aurobindo ranks the highest in terms of DMF filings by any

second largest globally. Aurobindo has set up seven stateof-the-art manufacturin

3 months
Dec-312009

3 months
Mar-312010

15.39

17.40

72.59

22.42

14.90%
18.23%
15.41%
9.59%

16.34%
19.67%
16.85%
10.85%

16.06%
19.56%
16.48%
11.92%

19.27%
22.47%
19.47%
12.83%

3.75
1.55

4.14
27.71%
1.63

7.88
10.82
1.13

8.35
10.37
1.21

3.47
uarterly data not available
1.55
8.50
12.23
1.11

3 months 3 months
FY2010 E Jun-30Sep-302010
2010

3 months
Dec-312010

3 months
Mar-312011

FY2011 E

14.95

15.85

22.10

78.97

13.88%
17.14%
14.21%
8.35%

13.71%
16.96%
14.15%
8.47%

15.28%
18.11%
15.67%
10.29%

15.48%
18.61%
15.83%
10.45%

4.72

4.76
3.72
3.85
Quarterly data not available
1.42
1.39
1.33

1.16

4.26
20.95%
1.32

6.34
8.40
1.06

6.40
8.52
0.86

7.08
9.54
0.98

8.11
12.60
1.08

7.84
11.88
0.96

uarterly data not available

2.87

Quarterly data not available

Product Revenue Breakup for 2009

Formulations
USA
5,584.00
Europe
1,923.00
ARV's
4,640.00
Rest of the World
1,951.00
Total
14,098.00

Enterprise Value Added

FY2014 E
50,984.04
37,629.45

Explicit Forecast
7,583.46
FCF (First Stage)
Second Stage7,583.46 13,507.85
Terminal Year7,583.46
Forecast FCF
13,507.85

41293.419

2.00

20%

Total Enterprise Value

62,384.72

Active Ingredients
SSPs
7,379.00
Cephs
6,344.00
ARVs & Others
2,743.00
Total
16466.00

Formulations
14098.00
Active Ingredients
16466.00