The shares of this smallcap stock engaged in the business of manufacturing and developing complex generics jumped up to 6 percent on Thursday after the company announced the commencement of operations at its greenfield API facility.
Stock Performance
With a market capitalization of Rs 2,585.22 crore, Senores Pharmaceuticals Ltd jumped over 6 percent in Thursday’s trading session and made a high of Rs 584.10 per share compared to its previous closing price of Rs 548.55 per share. The stock retraced from its day’s high and was trading at Rs 561.35 which is 2 percent higher compared to the previous closing price.
What Happened
Senores Pharmaceuticals Limited has officially begun operations at its greenfield Active Pharmaceutical Ingredient (API) plant in Mehsana, Gujarat. Spanning approximately 230,000 sq. ft. with an installed capacity of around 100 metric tons per annum, this marks Senores’ second API manufacturing facility.
Further, Senores Pharmaceuticals Ltd has acquired 3,000 equity shares at USD 160 per share, representing a 1.32 percent stake of Havix Group Inc. (Aavis Pharmaceuticals) held by its wholly owned subsidiary, Senores Pharmaceuticals Inc. This increases its direct holding in Havix from 49.91 percent to 51.23 percent, making it a majority stakeholder.
Company Overview
Senores Pharmaceuticals is a global, research-driven company developing and manufacturing pharmaceuticals for the US, Canada, and emerging markets. It has 24 ANDA and 21 CMO/CDMO products in the USA and supplies generics to 40+ countries.
The company operates a USFDA-approved manufacturing facility in Atlanta and another WHO-GMP-approved facility in Chhatral. With two API facilities and three R&D centers, the company drives innovation across its portfolio.
Financial Performance
In the latest quarter, Senores Pharmaceuticals Limited reported a 35 percent increase from Rs 80 crore to Rs 108 crore. This was accompanied by a massive 129 percent increase in net profits from Rs 7 crore to Rs 16 crore.
Industry Outlook
India’s pharmaceutical industry ranks third globally by production volume and 14th by value, with around 3,000 drug companies and 10,000 manufacturing units. Valued at $58 billion, the sector is projected to reach $120-130 billion by 2030 and $400-450 billion by 2047. This growth would be driven by rising lifestyle diseases, an aging population, and increased healthcare consumerization.
Written by Shwetha Sairam
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
