Neuland Labs Reports Financial Results For Fiscal Year 2013

         Neuland Labs Reports Financial Results For Fiscal Year 2013

—Revenues Rose While Net Profits Increased Six-Fold Year-Over-Year—

PR Newswire

HYDERABAD, India, May 10, 2013

HYDERABAD, India, May 10, 2013 /PRNewswire/ --Neuland Laboratories Ltd.,
(NSE: NEULANDLAB; BOM: 524558) a pharmaceutical manufacturer providing active
pharmaceutical ingredients (APIs), complex intermediates and contract
manufacturing services to customers located in 85 countries, today announced
financial results for the 2013 fiscal year (FY) ended March 31, 2013.

"Our initiatives to reduce costs and increase profitability gained momentum in
FY 2013, and we are pleased to report record profits for the year," said Dr.
D.R. Rao, Chairman and Managing Director of Neuland Labs. "The reorganization
of our business and accompanying capital infusion last year enabled us to
reduce our financing costs and to realize greater efficiencies in our
manufacturing operations. We intend to continue our focus on achieving
greater growth along with enhanced profitability in the new fiscal year."

Revenues for FY 2013 were $85.0 million (4.61 billion INR*) compared to FY
2012 revenues of $82.7 million (4.48 billion INR), an increase of 2.8%. The
increase in revenues primarily reflects gains in sales of the company's
products and services from its API and Contract Research and Manufacturing
businesses.

Neuland reported FY 2013 EBITDA of $11.3 million (614.5 million INR), compared
to EBITDA of $8.9 million (483.5 million INR) in FY 2012, an increase of
27.1%.

After-tax profits in FY 2013 were $2.5 million (136.4 million INR), compared
to after-tax profits in FY 2012 of $0.4 million (20.3 million INR). 

"During fiscal year 2013, we made further progress in building a strong
foundation for future growth and profitability," commented Sucheth R.
Davuluri, Chief Executive Officer of Neuland Labs. "We are making good on our
goal of strengthening our product mix with higher margin products and
services, and we expect this trend to continue. Our manufacturing
collaboration with API Corporation (APIC), a healthcare unit of Mitsubishi
Chemical Holdings Group, was a notable advance this year, and we believe this
alliance will enable us to raise our profile in Japan while better serving our
customers around the globe."

For a complete set of Neuland's FY 2013 and FY 2012 financial data, visit
http://neulandlabs.com/about/financials.html

Neuland Laboratories is listed on India's National Stock Exchange under the
symbol NEULANDLAB and on the Bombay Stock Exchange under code 524558 and the
symbol Neuland.EO.

* = Indian rupees

About Neuland Labs
For over 25 years Neuland Labs has been at the forefront of manufacturing APIs
through its cGMP manufacturing facilities, working with customers in 85
countries.Neuland Labs has developed more than 300 processes and 60 APIs, and
it has filed more than45 US drug master files (DMFs), 14 EU CEPs and a total
of more than 400 DMFs worldwide. Its manufacturing facilities are inspected
and approved by the US FDA and other leading regulatory agencies. Its record
of quality manufacturing and reliability is highlighted by cGMP certifications
that include the FDA, TGA, EDQM, German Health Authority, ISO 14001, ISO 27001
and OHSAS 18001. For more information, visit www.NeulandLabs.com.

Contacts:
Neuland Laboratories Ltd.          US Media
NS Viswanathan                     BLL Partners/Brandwidth Solutions
Chief Financial Officer            Barbara Lindheim
+91 40 30211600                    +1 212 584-2276
nsviswanathan@neulandlabs.com     blindheim@bllbiopartners.com

SOURCE Neuland Laboratories Ltd.

Website: http://www.neulandlabs.com
 
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