Shares of this micro-cap stock associated with the pharma industry jumped approximately 5 percent in Tuesday’s session after the company secured an order from the African continent worth $8 lakh.
With a market capitalization of Rs 151.52 crores, the stocks of Vaishali Pharma Limited closed at Rs 143 on Tuesday, gaining around 5 percent as compared to the previous closing levels of Rs 136.25 apiece.
In a recent filing with the National Stock Exchange (NSE) today, the company intimated that it has received an order worth $8 lakh, viz, for approximately Rs 6.64 crores, from the African continent.
The order is received for the production and marketing of a diverse range of pharma products. Out of the total order amount, the company has received half of it as an advance. The entire order is planned to be executed in FY24.
“The fact that we have already received a significant advance payment of US$ 4,00,000 (INR 332 Lakhs Approx.) is particularly encouraging, reflecting the trust our clients place in our diverse range of healthcare products.”, commented Mr. Atul Vasani, Chairman & Managing Director, Vaishali Pharma Limited.
Having a glance at the standalone financials, the company, on a yearly basis, has shown opposing movements as far as the operating revenues and net profits are concerned. The former, on one end, moved down from Rs 75 crores during FY21-22 to Rs 69 crores during FY22-23, and, the latter, on the other end, moved up from Rs 4 crores to Rs 6 crores.
As per the shareholding pattern data available for the quarter ended September 2023, the company’s Promoters hold a 26.62 percent stake, and the remaining 73.38 percent stake in the company is held by the Public (retail) investors.
Established in 1989, Vaishali Pharma Limited is a pharmaceutical company based in India that is engaged in the business of trading pharma products. Operating in the domestic as well as export markets, the company mainly deals in Active Pharmaceutical Ingredients (API), pharmaceutical formulations, surgical products, and veterinary supplements.
Written by Amit Madnani
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
