Everest Organics hit an upper circuit of 5% at Rs 257.15 after the company announced that it has received approval for its Rabeprazole Sodium API from the Korea Drug Master File (KDMF).
The Rabeprazole Sodium API is primarily used to treat conditions related to excessive stomach acid production, including gastroesophageal reflux disease (GERD), peptic ulcers, and Zollinger-Ellison syndrome, as it acts as a proton pump inhibitor (PPI) by significantly reducing the amount of acid produced in the stomach, essentially helping to heal ulcers and alleviate symptoms like heartburn and acid reflux.According to the regulatory filing, the company revealed that the approval, granted in February 2025, allows it to export its Rabeprazole Sodium API to the South Korean market.
Everest Organics is engaged in the manufacturing of active pharmaceutical ingredients and bulk drugs.
The company's standalone net profit surged to Rs 1.14 crore in Q3 FY25 as against Rs 0.02 crore posted in Q3 FY24. However, revenue from operations fell 19.9% YoY to Rs 42.05 crore in the quarter ended 31 December 2024.
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