Shares of this microcap scientific tech company gained 2.5 percent after the company announced a new agreement with a pharma company.
On Wednesday, 18th October shares of Jeevan Scientific Technology Ltd closed at Rs. 60.75 per share, up by 2.51 percent from previous closing price of Rs. 59.26 per share.
Such bullish stock price movements were observed after the company announced through a regulatory filing on Bombay stock exchange (BSE) that Nayas Laboratories Private Limited (a subsidiary of Jeevan Scientific Technology Ltd) has entered into Co- Development agreement with Aditri Pharma Sciences Private Limited to develop certain pharmaceutical preparations on 50:50 basis.
Looking at the financials reported, the company’s revenue increased by 0.5 percent to Rs. 10.39 crores in Q1FY24 from Rs. 10.33 crores in Q1FY23 in the same time period net profit increased by 20 percent to Rs. 0.58 crores from Rs. 0.38 crores.
Talking about the profitability ratios, the company reported return on equity (ROE) of 28.79 percent and return on capital employed (ROCE) of 35.01 percent in the last financial year.
Promoters of the company hold 38.48 percent stakes and the public holds 61.52 percent stakes in the company.
Incorporated in 1999, Jeevan Scientific Technology Limited is in the business of clinical research with a focus on Pharmacovigilance (PV- tracking and reporting adverse drug reactions after drug launch) & clinical trial business (CT).
Written by: Vinit Israni
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