Buzzing stock: Shivalik Rasayan jumps 9 per cent
Shivalik Rasayan Limited, a small-cap agrochemical company was buzzing on the bourses after it announced on BSE that it will hold its annual general meeting (AGM) on September 28, 2020.
The stock made an intraday high of Rs 460 per share, recording more than 9 per cent gains on Tuesday. The company is expected to announce dividends of Rs 0.50 per share in its AGM.
The following are the key developments mentioned in the annual reports that are filed with BSE: -
- Developed the process for preparing an oncology drug, Erlotinib HCI of high purity (exceeding 99.8 per cent w/w), useful in the treatment of non-small cell lung cancer (NSCLC) and pancreatic cancer.
- Developed the process of preparing Temozolomide of high purity (exceeding 99.8 per cent w/w).
- Developed the processes for the preparation of about five intermediaries/KSMs for niche oncology APIs like Temozolomide, Melphalan HCI, and Bendamustine HCI, among others.
- Developed several processes for synthesising expensive impurities (>25) of oncology and non-oncology APIs.
- Developed and characterised Genotoxic potential impurities synthesis for various Nitrosamines.
- Successfully developed commercially viable, cost-effective API processes for preparing anti-Cancer molecules like Busulfan, Azacytidine. Capecitabine, Bortezomib & Temozolomide, which are useful in treating various types of cancers.
- Developed processes for non-oncology APIs viz, Fingolimod HCI, Dimethyl Fumarate, Monomethyl Fumarate, useful in the treatment of Multiple Sclerosis, Pirfenidone (for Idiopathic Pulmonary Fibrosis), and Ambroxol HCI (Bronchopulmonary diseases). The development is ongoing anti-diabetic, blood thinner & anti-clotting molecules for FY 2020-21.
The company also said in its annual reports that it has filed for 10 Patent Application Fields, including 3 PCTs. Also, almost 20 Trademark applications have been executed by the in-house intellectual Property Rights Cell.
Shivalik Rasayan is a virtually debt free company and trades at a P/E multiple of 43.93. The three years sales growth delivered by the company is 14.71 per cent on an annualised basis.
The dividend yield is 0.12 per cent while the RoE is 8.20 per cent. In the last five years the stock has generated an annualised return of 84.50 per cent.