This small-cap company jumped by more than 6 per cent despite a 72 per cent fall in its Q4 net profit!
The company offers a portfolio of differentiated products and services through end-to-end manufacturing capabilities across 15 global facilities and a global distribution network in over 100 countries.
Comparing the current quarter's net profit, on a standalone basis, to the same quarter a year ago, the company reported a 72.46 per cent drop, coming in at Rs 41.70 crore as opposed to Rs 151.44 crore. Comparing the same quarter of the previous year to the current quarter, the company's total revenue dropped by 7.06 per cent to Rs 1,117.46 crore (Q4FY23) from Rs 1,202.38 crore.
On a consolidated basis, the company recorded a 75.44 per cent fall in net profit for the fourth quarter ended March 31, 2023, from Rs 204.06 crore for the same quarter the year prior, to Rs 50.11 crore. In Q4FY23, the company's total revenue was Rs 2,188.08 crore, down 0.97 per cent from Rs 2,209.50 crore in the similar quarter the year prior.
The scrip opened today at Rs 76.80 and touched its day high and low of Rs 83.90 and Rs 76.80, respectively. Its 52-week high stood at Rs 201.80, whereas its 52-week low was Rs 63.13. The current market cap of the company is Rs 9,427.22 crore. Promoters hold 34.78 per cent, whereas Institutional and non-institutional holdings are 44.26 per cent and 20.96 per cent respectively.
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The Piramal group of companies includes Piramal Pharma Limited (PPL). The business operates in three main segments: Complex hospital generics (critical care), consumer healthcare (OTC), and contract development and manufacturing organisations (CDMO). With the purchase of Nicholas Laboratories in 1988, the company entered the pharmaceutical industry. It then expanded through a series of mergers and acquisitions and numerous organic efforts. For USD 3.7 billion, Abbott purchased the domestic formulations business in 2010, while Super Religare Laboratories (SRL) acquired the diagnostic services company.