Specialty chemicals & pharma company incorporated a new subsidiary for business expansion!
The stock gave multibagger returns of over 200 per cent from its 52-week low of Rs 58.20 per share.
Sudarshan Pharma Industries Ltd has recently announced the incorporation of its subsidiary, Sudarshan Maven Pharma Private Limited (Sudarshan Maven). The company has subscribed to 70 per cent of the subscribed capital of Sudarshan Maven, amounting to 70,000 equity shares of Rs10 each. Sudarshan Maven is a newly incorporated company with an authorized equity share capital of Rs 25,00,000 divided into 2,50,000 shares of Rs 10 each. As it is a newly formed entity, its turnover is not applicable at present.
Sudarshan Maven is primarily engaged in the manufacturing, formulation, processing, and development of various pharmaceutical products, including APIs, intermediates, antibiotics, drugs, medicines, and nutraceuticals. It also deals in healthcare products, Ayurvedic and dietary supplements, medicinal preparations, vaccines, chemicals, and surgical items. Additionally, the company aims to provide services in the field of drugs, pharmaceuticals, and chemicals, conduct clinical and bioequivalence trials, and undertake research and innovation work. The acquisition of Sudarshan Maven aligns with Sudarshan Pharma's existing business and is expected to contribute to the expansion and enhancement of its operations in the chemical and pharmaceutical sectors. The acquisition has been completed through cash consideration, with Sudarshan Pharma acquiring 70 per cent of the subscribed share capital of Sudarshan Maven for Rs 70,000.
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Sudarshan Pharma Industries Limited (SPIL), founded in 2008, is a Mumbai-based contract manufacturer of generic formulations. It operates in various segments, including specialty chemicals, intermediates, APIs, pharma and formulation generics, and bulk supply. SPIL sources and supplies pharmaceutical products to various institutions and healthcare organizations. Through its Vimac Healthcare division, it manufactures and sells its own branded products, with 56 out of 96 products registered under the "R" trademark. Additionally, SPIL provides contract manufacturing services for pharmaceutical formulations and medicines to well-known companies in India and institutional customers.
Today, shares of Sudarshan Pharma Industries Ltd gained 0.6 per cent to an intraday high of Rs 178 per share. The company has a market cap of over Rs 400 crore and has delivered good profit growth of 37 per cent CAGR over the last 5 years. The stock gave multibagger returns of over 200 per cent from its 52-week low of Rs 58.20 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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