Multibagger Update: Do you own this biotech company that made a fresh all-time high on June 15?

An investment of Rs 1 lakh in this company’s shares last year would have turned to Rs 3.8 lakh today.

On Wednesday, the shares of Indrayani Biotech soared to record an all-time high of Rs 42.70 per share on BSE. It touched a 5 per cent upper circuit and also, witnessed a spurt in volume by more than 1.33 times. An investment of Rs 1 lakh in this company’s shares last year would have turned to Rs 3.8 lakh today as its shares soared 283 per cent in just one year. On a six-month basis, the scrip jumped over 55 per cent and furnished returns of nearly 42 per cent since last month.   

Like the majority of the businesses, Indrayani Biotech got affected adversely when the pandemic struck. As the restrictions eased, the company’s business started gaining pace. Looking at the last eight quarters, the company’s sales have grown by over 400 per cent.  

The company has recorded net sales and other operating income of Rs 17.25 crore thereby, surging 140.81 per cent from Rs 7.16 crore registered in Q4FY21. On the other hand, the operating profit was recorded at Rs 2.24 crore in Q4FY22 as compared to an operating loss of Rs 0.42 crore in Q4FY21. Q4FY22 registered a net profit of Rs 1.62 crore in comparison with the net loss of Rs 3.25 crore in the same quarter of the previous year, highlighting a strong profitability position.          

Incorporated in 1992, Indrayani Biotech Limited (IBL) is venturing into three verticals namely, food & hospitality, healthcare, and engineering. Keep a close eye on this scrip for the upcoming sessions.