Share price of this micro-cap pharma stock moved up by nearly 5% on BSE to Rs. 54.55 in the trading session of Wednesday, after receiving written confirmation for the manufacturing of medicine.
With a market cap of Rs. 258 crore, the shares of Kimia Biosciences Limited opened at Rs. 51.96, compared to its previous closing price of Rs. 51.96.
The company has delivered positive returns of about 43.03 percent in the past six months and nearly 55.8 percent in the last one year. So far, the company has given around 48.6 percent of positive returns in 2024.
According to the latest regulatory filings with the BSE, Kimia Biosciences Limited has received a written confirmation for active substances imported into the European Union for medical products for human use.
The company secured the confirmation from the Government of India, Ministry of Health & Family Welfare, Central Drug Standard Control Organization.
The written confirmation received by Kimia Biosciences is for one product named Vildagliptin TH, for its manufacturing and packing.
In terms of financials, the revenue from operations of the company grew by nearly 8.01 percent QoQ from Rs. 24.2 crore in Q2 FY23-24 to Rs. 26.14 crore in Q3 FY23-24.
The net profit of Kimia Biosciences is Rs. -1.95 crore in Q3 FY23-24, an increase of 20.08 percent YoY, from a loss of Rs. 2.44 crore in Q3 FY22-23.
Kimia Biosciences Limited is engaged in the business of manufacturing of bulk drugs addressing various high-potential therapeutic segments and has envisaged high growth plans through infrastructure creation and CMS.
A few of the company’s products include Azelnidipine, Deflazacort, Oxaceprol, Seratodast, and Tretinoin among others.
Written by Shivani Singh
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