Hi Raghav.
I am still following the company.
- Company had a good FY21 in terms of profitability. This has helped improve company’s Balance Sheet. They have reduced loan substantially and also have good cash in hand (Rs. 16cr).
- Despite being the best of times for the pharma sector, company has not been able to increase sales in the past two years. They have done very little on introducing any new products, they did launch one new API product Teneligliptin (anti – diabetes) in December 2020 quarter.
- Company has issued bonus shares to increase the capital base above Rs. 10 cr so that they can come out of PCAS (Periodic Call Auction Session) mechanism on BSE. It’s a good thing as it will increase liquidity and ease of trade.
Company has had a good runup in the past 2 years and the mcap has increased from 60-70 cr to 290 cr now. A lot of small pharma companies are giving good sales growth and doing good things on product and capacity front. Company has good Balance Sheet and looking forward to what they do in the future.
Regards
Harshit Goel