The shares of this pharmaceutical company jumped around 1 percent after announcing the collaboration with the Government of India, for the development of the Biotransformation Process (Enzymatic Process) for its products.
With a market capitalization of Rs. 542 crores, the shares of Ind-Swift Laboratories Ltd started Thursday’s trading session on a positive note at Rs. 92.50. The share hit a high of Rs. 93.40 making a gain of around 1 percent and currently trading at Rs. 92.30 apiece.
Such a positive movement was observed after the company in an exchange filing mentioned that they had collaborated with the Council of Scientific and Industrial Research (CSIR) – Institute of Microbial Technology (IMTECH), under the Ministry of Science and Technology, Government of India, for development of Biotransformation Process (Enzymatic Process) for its products.
Furthermore, this collaboration will enable scientists from both organizations to work closely on the development of the Biotransformation process (Enzymatic Process) for its products. For this project, scientists at IMTECH will utilize their expertise and science in microbiology.
Meanwhile, the Ind-Swift team will provide its expertise in process chemistry and pharmaceutical drug development’s analytical resources.
Looking at the financial statements, the revenue declined by around 7 percent from Rs. 310.34 crores during the June quarter to Rs. 289.71 crores. On a contrasting note, the net profit zoomed by 84 percent from Rs. 17.24 crores to Rs. 31.66 crores during the same timeframe.
Coming onto the important financial ratios, the return on equity (RoE) transitioned from a negative 0.54 percent during FY21-22 to a positive 10.61 percent during FY22-23. In addition, the return on capital employed increased from 7.88 percent to 13.25 percent during the same period.
According to the latest shareholding pattern, the Promoters hold 42 percent stake, the Public or the Retail Investors have 38.33 percent shares, DIIs have a considerable stake of 19.50 percent, and the remaining 0.17 percent shares are with FIIs.
Headquartered in Punjab, Ind-Swift Laboratories Ltd was incorporated in 1995. The Company is engaged in the business of manufacturing formulations, and intermediates.
Written By Vaibhav Patil
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