In Thursday’s trading session, the shares of a pharmaceutical company engaged in the manufacturing and trading of medicines surged 11.1 percent to Rs. 90 on NSE, after announcing the completion of the construction of a new plant in Madhya Pradesh.
With a market capitalisation of Rs. 147.6 crores, at 10:35 a.m., the shares of Zenith Drugs Limited were trading in the green at Rs. 86.05, up by 6.2 percent, as against its previous closing price of Rs. 81.
What’s the News:
Zenith Drugs Limited announced the completion of the construction of a new plant located at Village Muradpura, Depalpur, Indore, Madhya Pradesh, according to the latest regulatory filings with the NSE.
This new facility will significantly expand the company’s production capacity.
Additionally, starting in September 2024, Zenith Drugs will begin producing a range of tablet and liquid oral formulations at this plant.
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Financials:
The company experienced significant growth in its revenue from operations, showing a year-on-year rise of nearly 15.8 percent from Rs. 114 crores in FY22-23 to Rs. 132 crores in FY23-24.
Similarly, its net profit increased during the same period from Rs. 5 crores to Rs. 10 crores, indicating a growth of 100 percent YoY.
Shareholding Pattern:
As per the latest shareholding pattern, the Promoters hold a 69.98 percent stake in the company, Foreign Institutional Investors (FII) hold a 5.81 percent stake, while Retail Investors and Domestic Institutional Investors (DII) hold a 22.28 percent and 1.93 percent stake in Zenith Drugs, respectively.
About the company:
Zenith Drugs Limited is a pharmaceutical manufacturing and trading company specialised in the manufacturing of high-quality and affordable pharmaceutical products.
Written by Shivani Singh
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