Unichem Lab off 8.6% in 2 days after muted growth in Q1 top line

Unichem Laboratories lost 3.18% to Rs 161.30 at 10:58 IST on BSE, with the stock extending Friday's 5.61% slide triggered by the company reporting muted top line growth in Q1 June 2013.

Meanwhile, the S&P BSE Sensex was up 34.94 points or 0.17% at 20,184.79.

On BSE, 16,000 shares were traded in the counter as against average daily volume of 16,659 shares in the past one quarter.

The stock hit a high of Rs 166.95 and a low of Rs 160.25 so far during the day. The stock had hit a 52-week low of Rs 132.55 on 19 July 2012. The stock had hit a 52-week high of Rs 216.80 on 10 January 2013.

The stock had underperformed the market over the past one month till 19 July 2013, sliding 0.09% compared with the Sensex's 4.7% rise. The scrip had also underperformed the market in past one quarter, declining 2.74% as against Sensex's 5.96% rise.

The small-cap pharmaceutical company has equity capital of Rs 18.11 crore. Face value per share is Rs 2.

Shares of Unichem Laboratories have declined 8.61% in two trading sessions from Rs 176.50 on 18 July 2013, after the company during trading hours on Friday, 19 July 2013, reported muted top line growth in Q1 June 2013. The stock had fallen 5.61% to settle at Rs 166.60 on Friday, 19 July 2013.

Unichem Laboratories' net profit rose 8.9% to Rs 36.09 crore on 0.26% growth in total income to Rs 265.57 crore in Q1 June 2013 over Q1 June 2012.

At the company's Annual General Meeting (AGM) held on Friday, 19 July 2013, the company's CMD Mr. Prakash Mody said that some of the products of Unichem will come under the Drug Price Control Order (DPCO) lists and have some effect on the margin of the company. However, costs rationalization, staff and product restructurings etc would offset any negative impact in margins due to the above reason, he said.

Unichem Laboratories is an international, integrated, specialty pharmaceutical company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in India and several other markets across the world.

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