The Shares of leading pharmaceutical company surged 6.5 percent on Wednesday’s second half session on the National Stock Exchange, to Rs 501 apiece, after the company expanded manufacturing capacity at its Tamilnadu Plant.
At 3:25 p.m., Orchid Pharma Ltd shares were trading at Rs 496.85 a share, up 5.7 percent from the previous close price and the company has a market capitalization of Rs 2,502 crore.
As per the company’s exchange filing,Orchid Pharma Limited increased its existing production capacity in Chengalpattu District, Alathur, Tamil Nadu, due to the opening of a new block of Sterile Plant, which would add around 50-75 tonnes per year in injectable capacity.
The company shares have gained 25 percent in the last six months and 22 percent in a year.
Orchid Chemical & Pharmaceuticals develops and manufactures active pharmaceutical ingredients (APIs) and final dosage forms. The firm is ranked among India’s top 15 pharmaceutical companies
The company’s revenue climbed by 40 percent year on year, rising from Rs 130 crore in Q1FY23 to Rs 182 crore in Q1FY24. During the same period, net profit increased from a loss of Rs 14 crore to a profit of Rs 10 crore.
In the recent financial year, the company reported a net profit margin of 7.27 percent and an operating margin of 7.24 percent.
As per the recent shareholding pattern, the company’s promoters hold 72.4 percent, while domestic institutional investors hold 12.46 percent and retail investors hold a 7.05 percent stake in the company.
Written by Omkar Chitnis
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