Sales for the period, however, fell to Rs 103.55 crore as compared with Rs 146.07 crore in the previous year. The company said that the decrease in sales is primarily due to a planned shift from low margin generic /bulk sales of agrochemical and pharmaceutical products.

The objective was to improve the bottomline of the company and deliver greater value to shareholders, a company release said. Profit before tax (PBT) has grown 68 per cent to Rs 3.62 crore.

The company's Sertec division, which caters to the cardiovascular, renal therapy and psychiatry segments recorded a 30 per cent growth in sales over the corresponding period last year.

The company is focussing on introducing new brands and planned launches include Losatec and Carvidol (anti-hypertensive segments), Zert-OD (anti-depressant segment), Spirudox (a natural nutritional supplement) and Pantoprazole (an anti-peptic ulcerant).

The agrochem division has launched new products like Primo, Kocide and Rapigro and new brands are expected to contribute over 35 per cent to the division's turnover this year.

Meanwhile, the increase in paid up capital to Rs 12.43 crore is due to the issue of 15,17,153 equity shares of Rs 10 each against warrants issued by the company alongwith secured redeemable non-convertible debentures on a rights basis.