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Multibagger Stock engaged in manufacturing and supplying bulk drugs catering to both domestic and international markets jumped 5 percent in the day’s trade following the release of its Q3FY24 results. 

With a market capitalization of Rs. 8,698 Crores, the shares of Neuland Laboratories Limited were trading at Rs. 6,765.95, up 3.88 percent from its previous day’s close price of Rs. 6,513.30. It has delivered multibagger returns of 380 percent in a year 

Its revenue from operations grew by 45.89 percent YoY from Rs. 269.25 Crores in Q3FY23 to Rs. 392.82 Crores in Q3FY24 and it declined 5.96 percent QoQ from Rs. 417.74 Crores in Q2FY24 to Rs. 392.82 Crores in Q3FY24. 

Its Net Profit grew by 166.50 percent YoY from Rs. 30.54 Crores in Q3FY23 to Rs. 81.39 Crores in Q3FY24 and it declined 8.79 percent QoQ from Rs. 89.24 Crores in Q2FY24 to Rs. 81.39 Crores in Q3FY24. 

Ace Investor Mukul Mahavir Agrawal has a 3.12 percent stake in the company consisting of 4 lakh equity shares and Ace Investor Vijay Kedia has a 1.25 percent stake in the company consisting of 1.6 lakh equity shares. 

Neuland Laboratories Limited is engaged in manufacturing and supplying of bulk drugs catering to both domestic and international markets. It manufactures API’s and end-to-end solutions for the pharmaceutical industry’s needs. 

Its segment revenue breakup as of Q3FY24 is as follows Custom Manufacturing Solutions 49 percent, Prime APIs 25 percent, Specialty 20 percent, and others 6 percent. 

It has reported a return on equity (ROE) of 17.9 percent and a return on capital employed (ROCE) of 20.8 percent, it is making good returns on its equity and capital employed. 

Written by: Bharath K.S 

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