The shares of the pharmaceutical company gained up to 12 percent after the company received announced the successful renewal, of its European Good Manufacturing Practices (GMP) certification.
With a market capitalization of Rs 419.66 crore, the shares of Venus Remedies Limited were trading at Rs 313.95 per share, increasing around 6.32 percent as compared to the previous closing price of Rs 295.30 apiece.
Reason for rise
The company shares have seen positive movement after Venus Remedies Limited successfully renewed its European GMP certification by Infarmed, Portugal, for its Cephalosporin, Carbapenem, and Oncology injectable manufacturing facility, reaffirming its commitment to delivering world-class pharmaceutical products to Europe. This milestone strengthens its position in the European pharmaceutical market.
Moreover, Venus Remedies, a leading exporter of Meropenem and oncology products, has maintained a strong European presence since earning its first EU GMP certification in 2007. The renewal reinforces its commitment to delivering high-quality, reliable antibiotics and healthcare solutions to providers and patients across Europe.
Financial Performance
Looking forward to the company’s financial performance, revenue dipped slightly from Rs 167.72 crore in Q2FY24 to Rs 167.45 crore in Q2Y25. During the same period, net profit plummeted by 68 percent, from Rs 9.94 crore to Rs 3.51 crore.
Recent development
Recently, the company received approval for Pemetrexed 500mg, a chemotherapeutic drug often used in the treatment of lung cancer and rnesothelioma, in the Philippines. This permission is a significant step forward in the company’s efforts to increase its footprint in the fast-growing Southeast Asian pharmaceutical sector.
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Market expansion
Venus Remedies plans to increase its presence in government institutions across India, capitalizing on the demand for antimicrobial products. Additionally, the company aims to expand its global reach, targeting a presence in 100 countries by 2025.
New Development
Venus Remedies focuses on developing innovative therapies targeting Antimicrobial Resistance (AMR) due to its global health impact. Additionally, the company plans to enter the consumer healthcare market, launching disruptive products in pain management, gastroenterology, and vitamins over the next five years.
Ratio analysis
The company’s critical ratios show that the return on equity increased from 5.77 percent in FY22-23 to 5.84 percent in FY23-24, while the return on capital employed increased from 7.37 percent to 8.17 percent. The net profit margin (NPM) for fiscal year 23-24 is 4.73 percent.
Shareholding pattern
In the company’s recent shareholding pattern, the Promoters of the company own 41.76 percent while Retail shareholders own a 57.06 percent stake in the company and domestic Institutional Investors own a 1.18 percent stake.
Company Profile
VSR is a leading manufacturer of meropenem antibiotics and an emerging player in AMR drugs in India. The company provides a diverse range of pharmaceutical products for various therapeutic areas, including anti-infectives, antimicrobial resistance, oncology, neurology, pain management, skin and wound care.
Written by:- Abhishek Singh
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The post Pharma stock jumps 12% after announcing renewal of its European GMP certification appeared first on Trade Brains.
The shares of the pharmaceutical company gained up to 12 percent after the company received announced the successful renewal, of its European Good Manufacturing Practices (GMP) certification. With a market capitalization of Rs 419.66 crore, the shares of Venus Remedies Limited were trading at Rs 313.95 per share, increasing around 6.32 percent as compared to
The post Pharma stock jumps 12% after announcing renewal of its European GMP certification appeared first on Trade Brains. Read MoreNews, Stocks, GMP certification, market news, Pharma stock, stock market, Stock market news, stock news, Venus Remedies Limited, Venus Remedies Limited latest news, Venus Remedies Limited news, Venus Remedies Limited share price, Venus Remedies Limited stock price Trade Brains
