 "pharmaceutical sector, pharma sector, medicines, meds")
Shares of small-cap pharmaceutical companies were on a roll on Thursdyay, zooming up to 20 per cent on the BSE amid heavy volumes. The gains came after the companies displayed strong earnings performance for the September quarter (Q2FY24).
Bliss GVS Pharma, Lincoln Pharmaceuticals and Solara Active Pharma Sciences surged between 18 per cent and 20 per cent on the BSE.
Bliss GVS Pharma was up 20 per cent at Rs 100.90 after the company reported a 169 per cent year-on-year (YoY) jump in its consolidated profit after tax at Rs 43.04 crore.
Revenue from operations grew 22.8 per cent YoY at Rs 211.87 crore.
The average trading volumes on the counter jumped over 80-times today. A combined 7.86 million equity shares, representing 7.5 per cent of total equity of the company, changed hands on the NSE and BSE till 01:55 PM.
Meanwhile, Bliss GVS’s board has approved investment of nearly Rs 30 crore for capacity addition/inclusion of semi-solids finished formulation at its Palghar Vevoor Unit.
The total capacity expected is about 200 million units in semi-solids dosage and that is expected to be completed and available for commercial production by end of FY 2025-26.
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This expansion shall be funded by a combination of debt and internal accrual, the company said.
Bliss GVS Pharma is engaged in manufacturing, marketing, trading and export of pharmaceutical products and product development services.
The company is one of among the world leaders in suppositories and pessaries dosage forms with one of the largest portfolios in this segment.
Shares of Lincoln Pharma hit a record high of Rs 580, surging 18 per cent after the management said the company continued to experience robust growth across all business verticals in Q2 and HI FY24, all while maintaining a net debt-free status.
The management expects better growth in Q3 and Q4 of the financial year, driven by new product launches in both the domestic and export markets, as well as improvements in operational efficiency and higher-margin products.
With the robust growth initiatives, product and geographical expansion, and operational efficiency, the company expects to achieve revenue of Rs 750 crore in FY26.
"In FY24, Lincoln will continue to build a strong portfolio in lifestyle and chronic segment especially women healthcare, dermatology to complement its strong presence in the acute segment. Furthermore, the company is in the process of registering the product for export to many countries. The Cephalosporin plant at Mehsana, Gujarat is expected to contribute sales of around Rs 150 crore in next 3 years", the management said.
In Q2FY24, Lincoln Pharma reported a 16.6 per cent YoY growth in net profit at Rs 27.65 crore, operational income grew 12.6 per cent YoY at Rs 164.68 crore.
