On Tuesday, the share price of this micro-cap pharma company surged 9.5 percent on BSE to hit an intraday high at Rs. 73.4, after the company received a three-year supply contract from a pharmaceutical distribution company based in the United Kingdom (UK).
With a market capitalisation of Rs. 710.2 crore, at 10:57 a.m., the shares of Remedium Lifecare Limited were trading in the green at Rs. 70.45, up by 5.1 percent, compared to its previous closing price of Rs. 67.03.
What’s the news:
According to the latest regulatory filings with the Bombay Stock Exchange (BSE), Remedium Lifecare received a three-year supply contract from a pharmaceutical distribution company based in the United Kingdom (UK) from July 2024 to June 2027.
The contract involves the supply of various Active Pharmaceutical Ingredients (APIs), Intermediates, and Specialty Chemicals.
The supplies scheduled in the first year, that is, between July 2024 and June 2025 alone are valued at Rs. 175 crore.
Previous Order and News:
Earlier on 28th February, the company received an export order worth Rs. 169 crore from Pharmyka General Trading LLC, a Pharmaceutical Company Situated in UAE.
The order was for the supply of pharmaceutical chemicals, with the execution time period spanning from April 2024 to March 2025.
The company’s Board on 8th January approved a stock split in the 1:5 ratio, where every 1 equity share of the face value of Rs. 5 each into 5 equity shares of the face value of Re. 1 each.
Financial & Stock Performance:
In terms of financials, the company’s total revenue from operations grew by 1763% YoY from Rs. 75.6 crore in Q4 FY22-23 to Rs. 1,408.5 crore in Q4 FY23-24, however, the net profit declined from a loss of Rs. 4.8 crore to a loss of Rs. 53.7 crore, during the same period.
The stock has delivered negative returns of nearly 52.6 percent in one year, and around 30 percent of negative returns year-to-date.
About the company:
Remedium Lifecare Limited is engaged in the business of trading in Advanced Pharmaceutical Intermediates, Active Pharmaceutical Ingredients (APIs) and other pharma products used, namely, Iso Propyl Alcohol (IPA), Cyclohexane, Ethyl Acetate, Iodine, etc.
Written by Shivani Singh
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.
