Orchid Pharma rises from ashes, expects to make profits in 12 months

Dhanuka Pharmaceuticals that took over the company almost a year ago, nursed it back to health from bankruptcy

Chennai-based Orchid Phar­ma’s stock touched Rs 2,129 on Thursday, up more than 11,700 per cent from Rs 18 in November 2020, bringing cheer to Dhanuka Labora­tories (DLL), which took over the company almost a year ago, under the National Company Law Tribunal (NCLT) resolution process. While the gains have been phenomenal, experts advise caution.
 
Though Orchid was under the Insolvency and Bank­ruptcy Code (IBC) process, the company’s four plants were operational. The new management infused money for the company’s operations and research capabilities.
 
DLL officials say demand for Orchid’s products is growing and given strong client relationships, most