The share of this pharmaceutical company jumped 3 percent after announcing strong Q2 FY24 results. The share is trading near a 52-week high which is recorded at Rs. 14.24.
With a market capitalization of Rs. 237 crores, the shares of Gennex Laboratories Ltd opened flat at Rs. 13.93. The share hit an intraday high at Rs. 13.93, gaining around 3 percent, and closed its day at Rs. 13.79 apiece.
Such a positive movement was observed after the company announced its June-September results. The company’s revenue increased by 6.6 percent from Rs. 16.49 crores in the June quarter to Rs. 17.58 crores in the September quarter. In addition, the net profit increased by 7.7 percent from Rs. 2.85 crores to Rs. 3.07 crores during the same period.
Comparing these metrics on a YoY basis, the revenue declined by 8 percent from Rs. 19.11 crores in Q2 FY23 to Rs. 17.58 crores in Q2 FY24. On a contrasting note, the net profit magnified by 192 percent from Rs. 1.05 crores to Rs. 3.07 crores during the same timeframe.
Looking at the important financial ratios, the return on equity decreased from 9.36 percent during FY21-22 to 7.95 percent in FY 22-23. Furthermore, the return on capital employed declined from 11.82 percent to 10.19 percent during the same time horizon.
In six months, the stock has delivered a multibagger return of 114 percent to its shareholders. For example, if someone had invested Rs. 1 lakhs in these shares six months ago, then, the worth of these shares would be Rs. 2.14 lakhs now.
According to the latest shareholding pattern, the Public has a huge holding of 76.39 percent and the remaining 23.60 percent are with Promoters.
Headquartered in Andhra Pradesh, Gennex Laboratories Ltd was incorporated in the year 1990. The company has been engaged in the manufacturing of Bulk Drugs and Intermediates. Gennex has a prominent Global presence and exports its products to various countries viz. Germany, United Kingdom, Spain, Singapore, Canada, Switzerland, Iran, Bangladesh, Pakistan and other major countries.
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.
