The shares of one of the leading global pharmaceuticals manufacturers soared up to 7 percent and hit its 52 week high price after it received a positive stable report for its manufacturing unit.
At the day’s closing the shares of Ipca Laboratories were trading at Rs. 993 up 6 percent from its previous day close price and its market capitalization is Rs. 25,308 Crores.
As per the company’s filing, Ipca Laboratories has announced that its manufacturing facility has now received Establishment Inspection Report classifying the manufacturing facility as “Voluntary Action Indicated (VAI) and that this facility is considered to be in a minimally acceptable state of compliance with regard to current good manufacturing practice (CGMP).
This announcement was in relation to its letter dated June 14, 2023, about US FDA inspection of the company’s API Manufacturing facility situated at Sejavata, Ratlam, Madhya Pradesh.
The company’s revenue increased by 7.03 percent from Rs. 5,796.74 Crores in FY22 to Rs. 6,204.26 Crores in FY23, accompanied by decreasing profits of Rs. 884.08 Crores to Rs. 471.32 Crores.
It has reported a return on equity (ROE) of 8.70 percent and a return on capital employed(ROCE) of 11.71 percent, the company is making decent returns on its equity and capital employed.
According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 46.29 percent stake, the Domestic Institutional Investors hold 35.04 percent and the Foreign Institutional Investors (FII) hold 9.86 percent.
Ipca Laboratories is a global pharmaceutical company that is engaged in manufacturing and selling brand formulations, API’S and their Intermediaries globally.
Written by: Bharath K.S
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