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In 10-Days This Stock Has Jumped 48%, What Is Happening In This Pharma Stock?
The shares of Samrat Pharmachem are on a roll. Since the declaration of the results of the company the stock has been jumping.
48% returns in 10-days
The stock has been hitting the upper end of the circuit filter on a consistent basis. On Aug 5, the stock was around Rs 429 and is now trading at Rs 629. Since the start of this week, the shares have been hitting the upper end of the circuit filter of 10% and today, it is stuck with only buyers at 5% upper circuit limit.
Good corporate results
The net profits of the company have surged almost 10 times for the quarter ending June 30, 2022 to Rs 936.65 lakhs from Rs 95 lakhs for the period ending June 30, 2021. Now, if we see the EPS for the quarter ending June 30, 2022 it is a whopping Rs 30. If we annualize and the company does do an EPS of Rs 100 or thereabouts, the stock of undervalued at just 6 times p/e, given the current market price of Rs 629.
Further upside cannot be ruled out
A further upside in the stock is also possible, given that it is still locked at the upper end of the circuit filter. Samrat Pharmachem is a micro cap stock with a small equity of Rs 3 crores. This means a little buying can see the stock flare-up. Investors should also exercise caution when it comes to micro cap because of the huge volatility in these stocks. The shares of the company are listed only on the BSE.
About Samrat Pharmachem
Samrat Pharmachem Limited commenced operations by acquiring factory land in Ankleshwar. The founders of the company Mr. Lalit Mehta and Mr. Rajesh Mehta decided to focus on "IODINE" as the key ingredient for all their products with a vision to become the leaders in Iodine Chemistry.
Diversified play
Through cost effective manufacturing capabilities and loyal customers, the Company also entered new industries like Salt, Animal Feed, Textile & Tyre Cord Manufacturing segment. Today Samrat Pharmachem has evolved into a knowledge driven Company manufacturing pharmaceutical ingredient products. It is R&D focused and has a multi-product portfolio with a state of the art and manufacturing facility in Ankleshwar.
Established clientele
The company has reputed multi-national clientele with multiple facilities approved by leading regulatory agencies such as USFDA, EU GMP, UK MHRA, South Africa-MCC, Health Canada, WHO and Brazil ANVISA, Samrat Pharmachem makes use of in-house R&D along with a team of technical experts in the field of Iodine to offer widest range of derivatives to its customers.
