The shares of Gufic BioSciences Ltd gained 5 percent, reaching a 52-week high of Rs 247 on Monday’s first half session. The company has a market capitalization of Rs 2,319 crores. Such a movement in the stock price was noticed after the company received approval from China’s National Medical Products Administration (NMPA).
According to the exchange filing, the Company obtained approval from China’s National Medical Products Administration (NMPA to promote Prilocaine (API), an anaesthetic medication, in China. At 12:15 hrs, the stock was trading at Rs 240.50 on the NSE, up 3.78 percent from its previous close.
In the last three months, the stock grew from Rs 203.50 to current levels by 17.57 percent and climbed by 22.41 percent from Rs 195.70 to current values.
Gufic Bioscience is engaged in the Research and Development, manufacturing, marketing, and distribution of pharmaceutical products and it is one of the largest manufacturers of Lyophilized injections in India. The company caters to the domestic and international markets.
The company’s financial reports show that net profit significantly decreased by 10% in Q4FY23 from Q4FY22 to Rs 18 crore. Additionally, operational income rose from Rs 162 crore in the same time last year to Rs 173 crore, a 7 percent gain.
On a year-to-year basis, the revenue fell by 11 percent, from Rs 779 crores in FY 21–22 to Rs 690 crores in FY 22–23. During the same time frame, the Net Profit decreased by 17 percent, falling from Rs 95 crores to Rs 79 crores.
The profitability ratios for FY23 were 22.91 percent ROE and 20.06 percent ROCE. The operating margin increased to 16.64 percent, while the net profit margin was at 11.54 percent.
As per the shareholding pattern, promoters of the company hold a 75 percent stake and retail investors hold a 23.12 percent stake in the company for FY 22-23.
Written by Omkar C
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