Shares of an IPR-based pharmaceutical company engaged in producing, stocking, selling, and supplying branded and generic medicines surged nearly 14.2 percent on Tuesday, after two foreign investors bought over 16 percent stake worth a total of ~Rs. 48.2 crores in the company via a bulk deal.
Price Movement
With a market cap of Rs. 307.2 crores, at 10:41 a.m., the shares of Balaxi Pharmaceuticals Limited were trading in the green at Rs. 55.65 on NSE, up by around 9 percent, as compared to its previous closing price of Rs. 51.16.
What’s the News
According to the latest bulk deal reported on the NSE, foreign investor Ebisu Global Opportunities Fund Limited acquired nearly 45.21 lakh equity shares, representing an 8.19 percent stake in Balaxi Pharma, through an open market transaction valued at around Rs. 24 crores, with an average price of Rs. 53 per share.
In addition, another foreign investor, Unico Global Opportunities Fund Limited, purchased nearly 45.77 lakh equity shares, which equates to an 8.3 percent stake, for about Rs. 24.26 crores, at the same average price of Rs. 53 per share.
On the selling side, MGC Fund Limited divested 45.21 lakh shares, representing 8.19 percent, while Elala India Opportunities Fund sold 45.77 lakh shares, or 8.3 percent, at the same price of Rs. 53 per share.
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Financials
Balaxi Pharma reported a significant growth in revenue from operations, experiencing a year-on-year increase of nearly 20.6 percent, rising from Rs. 60.8 crores in Q3 FY24 to Rs. 73.3 crores in Q3 FY25.
However, during the same period, the company’s net profit decreased from Rs. 12 crores to Rs. 5.4 crores, representing a decline of around 55.2 percent YoY. EBITDA for Q3 FY25 decreased by 41.4 percent YoY to Rs. 8 crores, down from Rs. 13.5 crores in Q3 FY24, while the operating EBITDA margins also fell by 1144 bps to 10.81 percent, from 22.25 percent, over the same period.
About the Company
Balaxi Pharmaceuticals Limited is a branded IPR-based pharmaceutical company with a distinct produce, stock & sell model, supplying branded and generic medicines.
Written by Shivani Singh
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