Shares of this small cap pharma company jumped 6.11 percent when its manufacturing facility underwent successful inspection from German health authorities.
At 12:35, 1st November shares of Marksans Pharma Ltd were trading at Rs. 111.50 per share, up by 6.11 percent from previous closing price of Rs. 105.55 per share.
Such bullish stock price movements were observed after the company announced through regulatory filing on Bombay stock exchange (BSE) that their newly acquired manufacturing facility in Goa has successfully undergone inspection from German health authorities; moreover, the company is going to announce its results for Q2 on 9th november 2023.
Looking at the financial statement of the company, revenue increased by 15.28 percent to Rs, 500.04 crores in Q1FY24 from Rs. 433.77 crores in Q1FY23, in the same time period net profit increased by 14.97 percent to Rs, 68.66 crores from Rs. 59.72 crores.
Talking about the profitability ratios, the company reported return on equity (ROE) of 18.59 percent and return on capital employed (ROCE) of 22.89 percent in the last financial year.
Founded in 1992, Marksans Pharma was initially a wholly-owned subsidiary of Glenmark Pharmaceuticals. However, it transitioned into an independent entity in March 2003 and adopted the name Marksans Pharma in 2005. At present, the company is involved in Active Pharmaceuticals Ingredients (APIs), formulations, and biopharmaceuticals.
Written by: Vinit Israni
