DSIJ Mindshare

The stock is up by 70 per cent in just 1 year and generated multibagger returns of 1,280 per cent in 5 years.

This approval, for its Enoxaparin product in pre-filled syringes, comes from the largest pharmaceutical market in the Gulf Cooperation Council (GCC) region. This market is projected to grow to USD 13.1 billion by 2031, with a 10-year CAGR of 5.4 per cent.

The marketing approval for Enoxaparin in Saudi Arabia is anticipated to pave the way for similar authorizations in other GCC and MENA countries. This anticoagulant holds significance in treating cardiovascular diseases, a notable health concern in Saudi Arabia, and is expected to contribute to the burgeoning global Enoxaparin market.

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

The shares of the company saw a spurt in volume by more than 1.40 times on BSE. The stock has a PE of 12.03x whereas the sectoral PE is 25.50x.