On Wednesday, a penny stock price rose by 0.43 percent after winning a tender from the Pharmaceutical and Medical Devices Bureau of India (PMBI).
With a market capitalization of Rs 58.74 crore, the CIAN Healthcare Ltd. stock price rose by 0.43 percent from its previous close of Rs 23.40 per share to an intraday high of Rs 23.75 per share.
According to the company filing, CIAN Healthcare Ltd. has won a tender for the supply of drugs and medicines to the Pharmaceutical and Medical Device Bureau of India (PMBI) for a period of two years. The size of the contract is Rs 4.78 crore.
On a YoY basis, revenue from operations of the company increased by 12 percent, from Rs 77.87 crore in FY22 to Rs 68.59 crore in FY23, and in the same time period, the company incurred a net loss of Rs 5.53 crore in FY22 to a net profit of Rs 2.03 crore in FY23.
The segments of CIAN Healthcare Ltd. include gynaecology, haematinics, cardio-diabetics, orthopaedics, paediatrics, derma-cosmetic, antibiotics, CNS, vitamins, and nutrient products.
The shareholder pattern of the company shows that 49.62 percent is held by the promoters and the remaining 50.38 percent is held by the public.
CIAN Healthcare Ltd. is a Pune based pharmaceutical company, incorporated in 2003, poised to bring innovative and affordable medicines to address patient needs. They manufacture, develop, and research a wide range of products.
Written By Praveen R
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