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Shares of Neuland Laboratories soared 18 per cent to hit all-time high of Rs 3,040.25 in Monday’s intra-day trade. In the past three days, the stock of this pharmaceutical company has zoomed 44 per cent after the company reported robust March quarter results (Q4FY23) as profit after tax (PAT) more-than-doubled to Rs 84.50 crore.
At 01:17 pm; it quoted 15 per cent higher at Rs 2,980, as compared to 0.70 per cent rise in the S&P BSE Sensex. Since February 2, 2023, the stock price of Neuland Labs more-than-doubled or zoomed 116 per cent from level of Rs 1,409.75.
Total income, meanwhile, grew 61.8 per cent year-on-year (YoY) to Rs 415.1 crore, led by growth in specialty and custom manufacturing solutions (CMS) segment. That apart, the company reported Ebitda (earnings before interest, taxes, depreciation, and amortisation) margin to 30.8 per cent, up 1550 basis points YoY, due to better business mix and operational leverage.
Neuland Laboratories is a pharmaceutical manufacturer that provides active pharmaceutical ingredients (APIs), complex intermediates, and custom manufacturing solutions services to customers located around 80 countries.
The management said that the company executed a number of CMS projects during the year resulting in business recording significant growth and contributing close to half the Q4 revenues.
Going ahead, the management expects this momentum to continue in future as well on account of new customers increasingly accepting Neuland as an established CDMO.
