The share price of this pharmaceutical firm gained by 5.2 percent to an Intraday high of 394.45 per share on Wednesday after the company received an award from UNICEF for their anti-biotic product.
With a market capitalization of Rs 506.61 crores, the shares of Venus Remedies Ltd. went up by 5.2 percent, trading at Rs 379 a piece on Wednesday’s morning session, Compared to today’s high of Rs 394.45 per share to a previous close of Rs 374.75 per share.
Venus Remedies received a prestigious UNICEF award for its antibiotic product, Ceftriaxone 1gm, according to their stock exchange filings. This award follows their earlier achievement of getting Good Manufacturing Practices (GMP) approval from UNICEF.
Reviewing the financials of Venus Remedies Ltd from a YoY basis, the revenue from operations increased by 8.87 percent from Rs. 552 crores in FY22-23 to Rs 601 crores in FY23-24. Also, the net profits of the firm increased by 3.7 percent from Rs. 27 crores in FY22-23 to Rs 28 crores in FY23-24.
For 2024, Venus Remedies reported a return on equity (ROE) of 5.84% and a return on capital employed (ROCE) of 8.17%. Additionally, the company’s debt-to-equity ratio stands at 0.08 times.
The company is a government-registered Export player with a presence in over 80 countries. It has international offices in Germany, Colombia, Vietnam, Saudi Arabia, Iraq, and Nepal.
The company has plans to release the following products in the future: VRP-034 (Polymyxin B – Renal Guard Programme), VRP-044 (Colistin – Renal Guard Programme), VRP-035 (Amikacin – Renal Guard Programme), VRP-1010 (Liver Detoxifier), VRP-019 (HOCL Gel), VRP-1016 (Psyllium Husk Tablet), and VRP-1018 (Antioxidant).
The shares of this company generated an overall return of 47.62 percent over the past year and 26.35 percent over the past month.
As of March 2024, the firm’s shareholding pattern stood at 41.76 percent for promoters, 56.61 percent for the public, 1.48 percent for foreign institutional investors, and 0.15 percent for domestic institutional investors.
Incorporated in 1989, Venus Remedies Ltd is a research-based pharmaceutical company and an injectable manufacturer. The organization is headquartered in Panchkula.
Written by Zahal.
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