During Thursday’s trading session, the shares of a company engaged in manufacturing a wide range of oncology (anti-cancer) drugs in India surged nearly 7.2 percent to Rs. 2,088.95 on NSE, after the company announced to migrate from the SME platform of NSE to the main board.
With a market cap of Rs. 1,913.2 crores, at 12:12 p.m., the shares of Beta Drugs Limited were trading in the green at Rs. 1,990 on NSE, up by 2.11 percent, as against its previous closing price of Rs. 1,948.85.
What’s the News:
Beta Drugs Limited (BDL), according to the latest regulatory filings with the NSE, announced its plan to migrate from the SME Platform of the NSE to the Main Board of both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
This strategic move aligns with the company’s long-term growth objectives, focusing on increasing liquidity, improving visibility, and expanding its investor base in the institutional market.
BDL aims to complete the migration process by the end of FY25, subject to regulatory approvals and compliance requirements. The decision to move to the Main Board reflects the company’s commitment to further strengthen its position in the industry.
BDL is confident that this transition will create greater opportunities for investors and enable the company to achieve its business objectives more effectively.
Financials:
Beta Drugs reported a significant growth in revenue from operations, experiencing a year-on-year increase of nearly 28 percent, rising from Rs. 141.3 crores in H1 FY24 to Rs. 180.3 crores in H1 FY25.
Similarly, the company’s net profit increased from Rs. 19.87 crores to Rs. 24.44 crores over the same period, representing a slight growth of around 30 percent YoY.
EBITDA for H1 FY25 also increased by about 30 percent YoY to Rs. 40.3 crores, up from Rs. 33.4 crores in H1 FY24.
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Management Guidance:
The management anticipates an improved financial performance in the second half and expects revenues for FY25 to be in the range of Rs. 370-380 crores, with the EBITDA margins expected to be in the range of 22-23 percent.
Beta Drugs Limited expects its Own Brand sales both Domestic and International to continue to grow at a higher pace.
A COFEPRIS and EU audit for the company’s plant has been scheduled for Q4 FY25. Additionally, Beta’s strong product pipeline, API capacity expansion, and entry into new export markets are expected to drive sustained growth over the coming years.
About the Company:
Beta Drugs Limited, a part of the Adley group, is engaged in the business of manufacturing a wide range of anti-cancer drugs in India. The company have three Manufacturing facilities, two formulations and one API manufacturing facility.
Written by Shivani Singh
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