Manufacturer of ayurvedic product Amrutanjan Health Care Limited shares gained 12 percent to Rs 752.65 a share in the first half session on Friday, The stock price increased after the company announced the buyback of shares.
According to the BSE filing,On Friday, the company’s board of directors approved a repurchase for Rs 28.8 crore at an offer price of Rs 900 per equity share, a 34.7 percent premium over Wednesday’s closing price of Rs 667.9 on the NSE. The company intends to repurchase up to 3.2 lakh shares, or 1.1 percent of its equity.
At 12:23 pm, the shares of Amrutanjan Health Care quoted Rs 747.00, up 11.83 percent on NSE.
Amrutanjan Health Care Ltd is engaged in the manufacturing of ayurvedic and allopathic products. Which are used in pain management, congestion management, and beverages. The company has a presence in Gulf, African, South East, and Asian countries.
In the last month, the stock has gained 23 percent ranging from Rs 607.50 to current levels.
According to the company’s financials, operating revenue climbed by 3 percent to Rs 100 crore in Q4FY23 compared to the same quarter the previous year. Similarly, net profit increased by 20 percent to Rs 12 crore.
Year on year, operating revenue fell by 6.4 percent, from Rs 405 crore in FY 21-22 to Rs 379 crore in FY 22-23. Over the same time period, net profit fell by 42 percent from Rs 67 crore to Rs 39 crore.
According to the company’s financial ratios for FY23, the ROE is 13.69 percent and the ROCE is 17.96 percent. The net profit margin is 10.49 percent, while the operating margin is 14.15 percent.
During fiscal year 22-23, promoters owned 50.04 percent of the company, while domestic institutional investors owned 7.18 percent and retail investors owned 41.93 percent.
Written by Omkar C
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