Heavy buying: Back-to-back upper circuit in this micro-cap multibagger stock; hits fresh 52-week high!

In Q4FY23, the company reported a 4708.7 per cent increase in net profit YoY.

Shares of Venus Remedies Limited were locked in the upper circuit on Friday, gaining 5.00 per cent. The stock also made a 52-week high of Rs Rs 287.45. In the last six months, the stock has gained about 55 per cent.

The company posted impressive Quarterly Results in Q4FY23. The revenue of the company stood at Rs 155.64 crore which grew by 9.26 per cent YoY. The operating profit of the company stood at Rs 28.02 crore which grew by 259.69 per cent on a YoY basis, while the PAT of the company stood at Rs 11.06 crore, which increased by 4708.7 per cent YoY.

The company has consolidated its position in GCC, ASEAN, Balkan, and Caribbean regions with marketing approvals from Oman, Malaysia, Bosnja, and Trinidad & Tobago for important chemotherapy drugs. With this, the number of marketing approvals for its oncology products across 75 countries has gone up to 503.

Venus Remedies Ltd is among the top 10 leading fixed-dosage injectable manufacturers in the world. The has a commercial presence in 60+ countries with a portfolio of 75 products spread over Europe, Australia, Africa, Asia-Pacific, Commonwealth States, the Middle East, Latin America, and the Caribbean region, the company has nine globally benchmarked facilities in Panchkula, Baddi, and Weme (Germany).

The stock has gained more than 450 per cent in the last five years, and investors should keep a close eye on this stock.