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Wockhardt Limited - Q1 FY21 Results update

Wockhardt Limited - Q1 (Cons) update The Board of Directors, in their meeting held on June 09

Wockhardt Limited - Q1 (Cons) update

Business Contributions:

  • Emerging Market Business of the Company stood at Rs.139 crore in Q1FY21 (PY Rs.144 crore). Emerging Market business contributed about 21% of the Global Revenue.
  • Irish Business stood at Rs.33 crore in Q1FY21 (PY Rs.38 crore).
  • US Business stood at Rs.114 crore in Q1FY21 as compared to Rs.186 crore in Q1FY20. US Business contributed 17% of the Global Revenue.
  • UK Business during the quarter stood at Rs.218 crore in Q1FY21 (PY Rs.225 crore). UK Business contributed about 33% of Global Revenue.
  • India Business stood at Rs.116 crore in Q1FY21 as compared to Rs.244 crore in Q1FY20. De-growth is mainly on account of lower sales in Quality Generics division and in some of the therapeutic areas. India Business contributed 18% of the Global Revenue.
  • Total EU Business contributed 43% of the Global Revenue.

R&D and Capital Expenditure:

  • Research & Development expenditure during the quarter was at Rs.38 crore (6% to sales) and including capital expenditure is at 7.8% to sales.
  • Capital expenditure during the quarter was Rs.31 crore

Exceptional Items:

  • The Board of Directors, in their meeting held on June 09, 2020, concluded the Business transfer agreement (BTA) entered into between the Company and Dr. Reddy's Laboratories Limited (Purchaser) dated February 12, 2020.
  • The profit from aforesaid Transfer of Business Undertaking (excluding the Hold-back Amount of Rs. 300 crore) amounting to Rs. 1,470.32 crore has been included as 'Exceptional Items - discontinued operations'.

Debt Position: Net Debt-Equity ratio as on 31st March 2020 stood at 0.84 and as on 30th June 2020 stood at 0.31.

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