The shares of a Small-cap company, specialzing in manufacturing of fermentation-based APIs across immunosuppressants and oncology, jumped upto 9 percent upon the Board’s approval to invest Rs. 6.09 Crores in Clean Max.
Price action
With a market capitalization of Rs. 17,321.83 crores on Tuesday, the shares of Concord Biotech Limited jumped upto 9.1 percent, making a high of Rs. 1660.70 per share compared to its previous closing price of Rs. 1521.75 per share.
What Happened
Concord Biotech Limited, engaged in the research, development, and manufacturing of biopharmaceuticals, approved an investment of Rs. 6.09 crore in Clean Max Everglades Pvt. Limited at its Board meeting on March 4, 2025.
The investment is for the installation of a hybrid renewable energy plant in Gujarat, which will have a wind capacity of 6.6 MW and a solar capacity of 3.3 MWp. By acquiring 26 percent equity in Clean Max, the company aims to support sustainability, reduce its carbon footprint, and lower energy costs, aligning with its commitment to environmental responsibility and long-term financial benefits.
About the Company
Concord Biotech Limited is a leading Indian biopharmaceutical company engaged in the research, development, and manufacturing of biosimilars and active pharmaceutical ingredients (APIs). The company specializes in producing high-quality products for global markets, with a focus on oncology, immunology, and other therapeutic areas.
Segment-wise Revenue
The company’s revenue is derived from two major segments: 72 percent from the API segment and 28 percent from the formulation segment.
Financials
The company’s total revenue rose by 4 percent from Rs. 248.99 crore to Rs. 258.95 crore in Q3FY24-25. Meanwhile, Net profit declined from Rs. 77.57 crore to Rs. 75.92 crore during the same period.
Written by Sridhar
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