The domestic markets inched higher during the initial hours of Tuesday, thanks to positive investor sentiment and good corporate results. Meanwhile, Medicamen Biotech reported stellar Q4 numbers as standalone revenue grew 62% YoY to Rs 37.49 crore as compared to Rs 23.09 crore in March 2022. Also, net profits jumped 47% YoY to Rs 4.04 crore for the quarter ended March 31, 2023, as against Rs 2.75 crore in the same quarter of the previous fiscal year.
Overall, the stats show impressive performance for the financial year 2022-23 as overall revenue stood at Rs 140.34 crore, a robust rise of 20% from Rs 117.16 crore in FY22. The company has also recorded the highest-ever revenue in its history. The diluted EPS rose 44.44% YoY to Rs 3.25 for Q4FY23 as compared to Rs 2.25 in March 2022.
Interestingly, the board of directors have recommended a 10% final dividend on the face value of Rs 10 each, i.e., Re 1 per equity share, subject to the approval of the shareholders in the ensuing Annual General Meet (AGM).
In the past one week, the stock has gained nearly 9% while the YTD performance stands muted at negative 15%. The 52-week high and low of the stock stand at Rs 1,225 and Rs 557.20 levels, respectively. Technically, the stock has been consolidating for the past 17 weeks at crucial support levels. Above-average volumes recorded in recent times show active participation levels in the stock.
Medicamen Biotech is a smallcap pharmaceutical company, dedicated to the research, development, and manufacturing of high-quality healthcare products. With a focus on innovation and customer satisfaction, the company specializes in producing a wide range of pharmaceutical formulations, including tablets, capsules, syrups, and injectables. It aims to provide affordable and accessible healthcare solutions, making a positive impact on the well-being of individuals worldwide.
On Tuesday, the shares of MEDICAMEQ plunged 2% and currently trade near Rs 700 levels on the bourses.