Shares of this small-cap Pharma stock gained 10 percent to hit its 52-week high level today. In the last one-month, the stock has gained around 15 percent.
With a market capitalization of Rs 4,600 crores, the stocks of Marksans Pharma Limited are currently trading at Rs 102 gaining 10 percent compared to the previous closing levels of Rs 93.50 apiece. The stock witnessed an intra-day high price of Rs 103 which is also marked as the company’s new 52-week high level.
Keeping a horizon of one year, the scrip has been successful in delivering multibagger returns of 110 percent meaning a 1 Lakh investment into the stock would have converted to Rs 2.10 Lakhs within the mentioned period.
Such movements in the stock prices were observed after the company, through a regulatory filing with the BSE, announced that it has received final approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application for ‘Acetaminophen’ and ‘Ibuprofen’ tablets, an over-the-counter (OTC) bioequivalent of Advil Dual Action Tablets.
By combining the above-mentioned ingredients, multiple pain-related symptoms would be able to get comparatively faster relief. On one hand, Acetaminophen blocks pain signals to the brain, and, on the other hand, Ibuprofen works through the body targeting pain at the source.
Digging into the financials, the company has consistently increased its operating revenues with the most recent movement being from Rs 1,490 crores during FY21-22 to Rs 1,852 crores in FY22-23. In congruence with the above, the after-tax profits increased from Rs 186 crores to Rs 265 crores.
According to the shareholding data available for the March 2023 quarter, the Promoters hold a 43.85 percent stake, and Foreign Institutional Investors (FIIs) hold a 15.11 percent stake in the company.
Marksans Pharma Limited is a pharmaceutical company engaged in the business of manufacturing as well as marketing pharmaceutical formulations related to anti-diabetic, gastrointestinal, cardiovascular, and antiallergic medications.
Written by Amit Madnani
