 "IOL Chemicals & Pharmaceutical's stock more than doubles from March lows")
Shares of IOL Chemicals & Pharmaceuticals rallied 8 per cent to hit a record high of Rs 322 on the BSE on Wednesday after the company said it has been recognized as a 'Three Star Export House' by the Ministry of Commerce & Industry, Government of India. This will facilitate the company to expand its product portfolio in the foreign market.
“A Three Star Export House recognition certificate has been issued to the Company in accordance with the provisions of the Foreign Trade Policy 2015‐2020 by upgrading its Two Star Export House status. The certificate shall be valid for a period of five years,” IOL Chemicals said in exchange filing.
The stock surpassed its previous high of Rs 316.80, touched on February 27, 2020. It has zoomed 118 per cent from its low of Rs 147.35, hit intra-day on the BSE on March 25.
IOL is one of the leading APIs/ bulk drugs company and is a significant player in the specialty chemicals space with world class facilities. IOL has wide presence across major therapeutic categories like, pain management, anti-convulsants, anti-diabetes, anti- cholesterol and anti-platelets.
The company has posted remarkable operational and financial performance for the first nine months (April-December) of financial year 2019-20 (9MFY20).
IOL reported a healthy operational performance with 72 per cent year-on-year (YoY) growth in earnings before interest, tax, depreciation, and amortisation (Ebitda) at Rs 448 crore for 9MFY20. Ebitda margin expanded 1,000 basis points to 30.6 per cent from 20.5 per cent in the same period of previous fiscal. The company’s income from operations increased by 15 per cent to Rs 1,464 crore from Rs 1,271 crore in 9MFY19.
The company's management remains optimistic about growth in the demand of the Ibuprofen and recently launched new products in the medium to long term.
At 10:55 am, IOL was trading 5 per cent higher at Rs 313 on the BSE, as compared to 1 per cent rise in the S&P BSE Sensex. The trading volumes on the counter nearly doubled with a combined 1.7 million shares changing hands on the NSE and BSE so far.
“A Three Star Export House recognition certificate has been issued to the Company in accordance with the provisions of the Foreign Trade Policy 2015‐2020 by upgrading its Two Star Export House status. The certificate shall be valid for a period of five years,” IOL Chemicals said in exchange filing.
The stock surpassed its previous high of Rs 316.80, touched on February 27, 2020. It has zoomed 118 per cent from its low of Rs 147.35, hit intra-day on the BSE on March 25.
IOL is one of the leading APIs/ bulk drugs company and is a significant player in the specialty chemicals space with world class facilities. IOL has wide presence across major therapeutic categories like, pain management, anti-convulsants, anti-diabetes, anti- cholesterol and anti-platelets.
The company has posted remarkable operational and financial performance for the first nine months (April-December) of financial year 2019-20 (9MFY20).
IOL reported a healthy operational performance with 72 per cent year-on-year (YoY) growth in earnings before interest, tax, depreciation, and amortisation (Ebitda) at Rs 448 crore for 9MFY20. Ebitda margin expanded 1,000 basis points to 30.6 per cent from 20.5 per cent in the same period of previous fiscal. The company’s income from operations increased by 15 per cent to Rs 1,464 crore from Rs 1,271 crore in 9MFY19.
The company's management remains optimistic about growth in the demand of the Ibuprofen and recently launched new products in the medium to long term.
At 10:55 am, IOL was trading 5 per cent higher at Rs 313 on the BSE, as compared to 1 per cent rise in the S&P BSE Sensex. The trading volumes on the counter nearly doubled with a combined 1.7 million shares changing hands on the NSE and BSE so far.
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