This pharmaceutical stock hits an all-time high: The company expects normal growth in FY25 with a revival in the specialty chemicals industry
The stock hit a fresh all-time high on Friday at Rs 634, and the stock closed at Rs 615 with gains of 0.2 per cent
The stock hit a fresh all-time high on Friday at Rs 634, and the stock closed at Rs 615 with gains of 0.2 per cent.
On November 24th, 2023 Suven Pharmaceuticals Ltd filed an investor presentation. The presentation highlighted H1 performance reflecting 3.6 per cent growth in EBITDA. Operational revenues registered at Rs 579 crore, marking a 6 per cent decline year-on-year. The EBITDA margins, stand at 47 per cent of revenue and exhibit a 3.6 per cent growth compared to the previous year. The adjusted PAT (Profit After Tax) reached Rs 200 crore, showcasing an 11 per cent increase year-on-year. Particularly encouraging is the notable 38 per cent growth in Pharma CDMO (Contract Development and Manufacturing Organization) excluding the impact of Covid.
The company anticipates a subdued performance in the forthcoming quarters due to the impact of global destocking in the specialty chemicals sector and the base effect of residual COVID-19-related products from the previous fiscal year. However, they maintain a positive outlook for the medium term, fuelled by an ongoing upsurge in request for quotations (RFQs) in the pharmaceutical sector and encouraging discussions with customers. A return to normal growth levels is anticipated from the second half of FY25, coinciding with a revival in the broader specialty chemicals industry. The company expects its current customer and RFQ efforts to bear fruit in the medium term.
Shares of Suven Pharmaceuticals has delivered impressive returns. Over the past three months, the stock has returned 21.14 per cent. Over the past three years, the stock has returned a staggering 65.79 per cent. Over the past five years, the stock has returned an even more impressive 322.93 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.
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