Shilpa Medicare skyrockets by 10.47 per cent on a weak market day!
The board of the company also has recommended a dividend of Rs 1.10 per equity share for the financial year ended March 31, 2022.
The shares of Shilpa Medicare soared 10.47 per cent to Rs 453.25 on BSE after the company announced promising results for the quarter that ended on March 31, 2022.
The company's quarterly consolidated financials reveal that the operating profit for Q4FY2022 stood at Rs 79.22 crore compared to Rs 33.12 crore for Q4FY2021, an incredible increase of 139.23 per cent. Net sales for Q4FY2022 stood at Rs 340.60 crore, recording an increase of 63.73 per cent as compared to the net sales of Rs 208.03 crore in the same quarter last year. The net profit has also been on the upper side and stands at Rs 30.55 crore during the same period, which was at Rs 7.96 crore, higher by 283.65 per cent from Q4FY22.
Shilpa Medicare Ltd, established in 1987, has carved a niche for itself in the exceedingly competitive and quality-conscious sphere of pharmaceuticals manufacturing. It produces & exports consistently high-quality active pharmaceutical ingredients, fine chemicals, intermediates, herbal products, and speciality chemical products using sophisticated technology, meticulously following international specifications.
The company has earned its spurs as a successful and reliable partner within the pharmaceutical industry. Buyers within the country and from across the borders count on its fast track integrated process development and finely-honed expertise of its skilled and experienced personnel. The company is already exporting to the USA, Canada, Australia, Japan, and European countries viz., Germany, Switzerland, Netherlands, Belgium, Spain, Greece, Cyprus, Italy, United Kingdom, etc., South American countries including Mexico, Brazil, Columbia, etc along with African countries like Kenya, Nigeria and West Indies, etc. It also includes Asian countries like Singapore, Taiwan, China, Malaysia, Thailand, and closer to home to Iran, Egypt, Pakistan & Bangladesh.
The board of the company also has recommended a dividend of Rs 1.10 per equity share for the financial year ended March 31, 2022.