The share of this small-cap stock gained around 3 percent after the company acquired Pilnova Pharma Inc., a US-based company.
Shilpa Medicare Ltd is a Small cap company with a Market capitalization of Rs 3,027.65 crores. On Friday, the company shares traded at Rs 353.10 a share, an increase of 1.25 percent from the previous closing price.
According to the company’s regulatory filing, Shilpa Medicare Ltd announced that the company is acquiring a 100 percent share of Pilnova Pharma Inc., at par 1$ per share on or before 15 November 2023.
The purpose of acquiring Pilnova Pharma, Inc. is to enter the US market to provide marketing and sales support in the US market.
Having a look at the financials of the company. The company’s revenue decreased by 8.32 percent from Rs.1,145 crores in FY 2021-22 to Rs 1,050.11 crores in FY 2022-23. Further, During the same period, Net Profit has decreased from Rs 60.58 crores to a loss of Rs 30.92 crores.
Shilpa Medicare Ltd stock gave a 36.27 percent return in six months and a 13.30 percent return in a year.
As per the recent shareholding pattern, The Promoters of the Company own 50.01 percent while retail shareholders own a 40.99 percent stake in the company and Foreign Institutional Investors own an 8.6 percent stake.
Shilpa Medicare creates, manufacture, and distribute premium active pharmaceutical ingredients.
Written by : – Abhishek Singh.
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