Shares of this pharmaceutical company clocked 20 percent upper circuit in Wednesday’s trading session after receiving an export order worth Rs. 136 crores. In one month, the shares have delivered more than a 30 percent return to its investors.
With a market capitalisation of Rs. 22 crores, the shares of Evoq Remedies Ltd started Wednesday’s trading session on a higher note at Rs. 14.70 compared to its previous close of Rs. 13.50. During the trading session, the shares clocked 20 percent upper circuit at Rs. 16.20 apiece.
Such a positive movement in the share price was observed after the company in an exchange filing announced that it had received an export order of Rs. 136 Crores from Marlexx Pharma Inc. a US-based company, to deliver high-quality pharmaceutical products.
They received the order to supply pharmaceutical products like Metformin API, Tramadol Hydrochloride API, Lisinopril API Powder, Pipracillin Sodium Sterile, and many more. Moreover, the order received by the company is six times larger compared to its market capitalization.
Looking at the company’s financial statements, the revenue decreased by 15 percent from Rs. 4.60 crores in the June quarter to Rs. 3.90 crores during the September quarter. In addition, the net profits declined from Rs. 1.31 crores to Rs. 5 lakhs.
Coming onto the important financial ratios, the return on equity stood at 6.75 percent during FY22-23, and the return on capital employed was recorded at 6.96 percent during the same period. Furthermore, the net profit margin for the period FY22-23 was recorded at 7.94 percent.
According to the latest shareholding pattern, the Promoters hold a 73.53 percent stake and the remaining 26.47 percent shares are with Retail Investors.
Headquartered in Ahmedabad, Evoq Remedies was incorporated in 2010. The company is engaged in the trading of pharmaceutical formulations and allied products.
Written By Vaibhav Patil
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.
