Promoters hold 66 per cent stake: Pharma penny stock jumps 8.5 per cent; Do You Own It?

The company has a market cap of over Rs 300 crore and the stock is up by 12.4 per cent from its 52-week low of Rs 50.42 per share.

On Monday, one of the Top Gainers on NSE, shares of Balaxi Pharmaceuticals Ltd, jumped 8.50 per cent to Rs 56.69 per share from its previous closing of Rs 52.27 per share. The stock’s 52-week high is Rs 151.45 per share and its 52-week low is Rs 50.42 per share. A total of 1.23 lakh shares changed hands on the NSE.

Balaxi Pharmaceuticals Ltd is an IPR-based pharmaceutical company that focuses on the production, stocking, selling, and supply of both branded and generic medicines. With a substantial portfolio of 610 pharmaceutical product registrations, Balaxi offers a diverse range of products, including tablets, injectables, liquids, and capsules, sourced from WHO-GMP-certified contract manufacturers located in India, China, and Portugal.

According to Quarterly Results, the company reported net sales of Rs 73.29 crore and net profit of Rs 5.36 crore in Q4FY24 while in its annual results (FY24), the company reported net sales of Rs 241 crore and a net loss of Rs 2 crore. The company has a debt of 32 crore, which is 11 per cent of its current market cap.

The shares of the company have a PE of 12x whereas the industry PE is 30x. As per NSE data, 66 per cent stake lies with the promoter and promoter group and the rest, about 34 per cent, is owned by public shareholders which includes FIIs & DIIs. The company has a market cap of over Rs 300 crore and the stock is up by 12.4 per cent from its 52-week low of Rs 50.42 per share.

Disclaimer: The article is for informational purposes only and not investment advice.