Do you own this biotech company that soared 306 per cent in just one year?

An investment of Rs 1 lakh in this company’s shares last year would have turned to Rs 4.06 lakh today!

On Tuesday, the shares of Indrayani Biotech soared to record an all-time high of Rs 50.05 per share on BSE. It touched a 5 per cent upper circuit and also, witnessed a spurt in volume. An investment of Rs 1 lakh in this company’s shares last year would have turned to Rs 4.06 lakh today as its shares surged 306 per cent in just one year. On a six-month basis, the scrip jumped over 112 per cent and furnished returns of nearly 44 per cent since last month.     

Incorporated in 1992, Indrayani Biotech Limited (IBL) is venturing into three verticals namely, food & hospitality, healthcare, and engineering. IBL Healthcare Limited, a wholly-owned subsidiary of Indrayani Biotech has been declared as the successful resolution applicant by the Committee of Creditors for the acquisition of Vaasan Medical Center on July 21, 2022, subject to obtaining necessary regulatory approvals including approval from National Company Law Tribunal (NCLT).  

Like the majority of the businesses, Indrayani Biotech got affected adversely when the pandemic struck. As the restrictions eased, the company’s business started gaining pace. The company has recorded net sales and other operating income of Rs 17.25 crore thereby, surging 140.81 per cent from Rs 7.16 crore registered in Q4FY21. On the other hand, the operating profit was recorded at Rs 2.24 crore in Q4FY22 as compared to an operating loss of Rs 0.42 crore in Q4FY21. Q4FY22 registered a net profit of Rs 1.62 crore in comparison with the net loss of Rs 3.25 crore in the same quarter of the previous year, highlighting a strong profitability position.          

Keep a close eye on this scrip for the upcoming sessions.