Suven Life Sciences hits record high after robust earnings

Suven Life Sciences surged 15.69% to Rs 76.70 at 14:41 IST on BSE after net profit surged 602% to Rs 45.50 crore on 202% spurt in revenues to Rs 151.50 crore in Q2 September 2013 over Q2 September 2012.

The result was announced during trading hours today, 11 November 2013.

Meanwhile, the BSE Sensex was down 107.70 points, or 0.52%, to 20,558.45.

On BSE, 32.48 lakh shares were traded in the counter compared with average volume of 2.79 lakh shares in the past one quarter.

The stock hit a high of Rs 78.20 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 62.25 so far during the day. The stock hit a 52-week low of Rs 22 on 4 March 2013.

The stock had outperformed the market over the past one month till 8 November 2013, rising 45.87% compared with the Sensex's 3.42% rise. The scrip had also outperformed the market in past one quarter, rising 146.01% as against Sensex's 9.99% rise.

The small-cap company has an equity capital of Rs 11.68 crore. Face value per share is Re 1.

EBITDA (earnings before interest, taxes, depreciation and amortization) surged 550% to Rs 71.50 crore in Q2 September 2013 over Q2 September 2012.

Suven Life Sciences said the growth in profit was a result of one new product, in addition to 2 products already commercialised during the first quarter, totaling 3 products under CRAMS (contract research and manufacturing services).

Suven Life Sciences is in the business of design, manufacture and supply of bulk actives, drug intermediates & fine chemicals.

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