Astec LifeSciences surges 7 per cent on impressive Q2 numbers

The shares of Astec LifeSciences were trading in the green on Friday after surging as high as 7 per cent to Rs 1,167.20 per share after the company reported a robust set of numbers in the September 2020 quarter.

The sales of the company was up by 10.55 per cent to Rs 155 crore in the quarter ended September 2020 as against Rs 140.21 crore during the previous quarter ended September 2019. EBITDA came in at Rs 31.05 crore in September 2020, up by 81.58 per cent from Rs 17.10 crore in September 2019.

The pharma company posted a net profit, which jumped by 238 per cent to Rs 17.85 crore in the quarter ended September 2020 as against Rs 5.28 crore during the previous quarter ended September 2019.

Astec LifeSciences makes a wide range of agrochemical active ingredients and pharmaceutical intermediates. The company's multi-purpose production facilities are located in Dombivli and Mahad (Maharashtra). Its multi-purpose plants are based on 3,000 litres to 20,000 litres of glass-lined and stainless steel reactors. The company has undertaken several custom-synthesis projects for customers in Europe, Japan, and the United States.

On Friday, the stock of Astec LifeSciences closed at Rs 1,142.40 per share, up by 4.81 per cent or Rs 52.40 per share on BSE, against a 0.34 per cent decline in the benchmark index. Its 52-week high is recorded at Rs 1,365 and the 52-week low is Rs 306 on BSE.