Shares of this pharma stock under the ‘micro-cap’ category traded flat in Monday’s trading session after the company received marketing authorizations for its ‘oncology drugs’ in the Ukrainian markets. During the last six months, the company’s stock has gained more than 40 percent.
With a market capitalization of Rs 443.72 crores, the stocks of Venus Remedies Limited started their trading session on Monday at Rs 333.75 and closed the session at Rs 331.95, a flat movement as compared to the previous closing levels of Rs 333.75 apiece.
Such stock price movements were witnessed after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), intimated the receipt of marketing authorizations for two of its Oncology drugs, viz, ‘Paclitaxel’ and ‘Irinotecan’ in various strengths as well as formulations.
The abovementioned approvals mark significant progress for the pharma company in expanding its market presence and providing access to critical medications for cancer patients in the region.
During recent financial quarters, the company’s financial performance has been lowering with the operating revenues going down from Rs 167.72 crores during Q2FY24 to Rs 143.42 crores during Q3FY24. Moreover, the after-tax profits of the company reduced from Rs 9.94 crores to Rs 6.85 crores keeping the timeframe the same.
On a contrasting note, the company has been successful in marginally reducing its debt-to-equity ratio with the most recent movement being from 0.1 times during FY21-22 to 0.09 times during FY22-23.
Keeping a purview of the last one year, the company’s stock delivered multibagger returns of nearly 105 percent for its stakeholders, i,e., if someone had invested Rs 1 lakh into the company’s stock a year ago, it would have converted to Rs 2.05 lakhs.
According to the latest shareholding pattern data for the December 2023 quarter, the company’s Promoters hold a 41.76 percent stake, and the Foreign Institutional Investors (FIIs), recently increasing their stake, currently hold a 1.59 percent stake in the company.
Venus Remedies Limited is a drug manufacturer based in India that is engaged in the business of manufacturing as well as trading pharmaceutical products. It produces food supplements containing minerals, dietary fibers, and vitamins, among others.
Written by Amit Madnani
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