Elder Pharmaceuticals Clears Pending Statutory Payments Related to TDS,

PF, ESIC, MWLF etc After Witnessing Turnaround in Cash Flow Position
Elder Pharmaceuticals Limited which was going through an erratic cash flow situation
has made major pending statutory payments of TDS, provident fund, ESIC,
Maharashtra Labour Welfare Fund (MLWF) etc to the tune of approx Rs 26 crore.
Mumbai, India, March 25th, 2015 -- Elder Pharmaceuticals Limited (BSE: 532322 | NSE:
ELDERPHARMEQ) which was going through an erratic cash flow situation has made major
pending statutory payments of TDS, provident fund, ESIC, Maharashtra Labour Welfare Fund
(MLWF) etc to the tune of approx Rs 26 crore. The company has informed the BSE & NSE to this
effect.
http://www.bseindia.com/corporates/anndet_new.aspx?newsid=d6c05454-0734-4f82-b876-34
8077f1f915
Elder Pharmaceuticals plans to clear the backlog of other payments very soon. Elder is also in
talks to raise fresh funds through a combination of debt or debt cum equity in order to improve
its cash flow and performance. The companys cash flow cycle was affected for a larger part of
FY 2014-15 resulting in payments getting delayed to its various creditors and government
bodies. In view of the growth in sales of its pharma & OTC products recently, the company is
anticipating regular cash infusion which will contribute to its working capital, regular expenses
and debt retirement needs.
Elder Pharmaceuticals ( http://www.elderindia.com ) is a major player in the Anti-infectives,
Multi Vitamins, Cardiology and Skin care segments and is also present in the Over The Counter
segment (OTC) through its products like AM/PM, Solo, Respite, Rhyme covering sectors like
Oral Mouthwash, Skin Care, Nasal Decongestion, Muscle relaxants and Color Cosmetics. Elder
has a prominent position in the pharma space in India and abroad with its products
commanding good demand from hospitals, doctors etc. A few products like Eldervit (a
nutraceutical), anti-infectives like Cefixime based Formic and Elfi, & Skin O2 (dermatology) have
significant market share and are growing at over 14% annually. The company has 6
state-of-the-art production facilities across India backed by a team of over 2 dozen scientists.
Going forward, the company is embarking on a major price revamp supported by an aggressive
national expansion campaign in order to garner a larger share in the domestic market. Elders
International operations are registering steady growth and more than 40% of Elders revenue is
likely to come from its global business. As a part of Elders deal with Torrent Pharmaceuticals in
2013 which involved sale of over 30 brands and transfer of Elders domestic employees to
Torrent - Elder shall utilize its six plants for contract manufacture of the formulations business
sold to Torrent for 3 years which will fetch Elder a continous revenue stream of Rs 70 - 75 crore
every year.

Elder group is targeting a turnover of about Rs 1000 cr from its domestic and international
operations by FY 2017.
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