The partnership aims to develop and manufacture this innovative product, with company and HHL acquiring shares in the new entity at a ratio of 60:40, while no initial consideration is exchanged.

Talking about the financials, the company has a market cap of over Rs 1,000 crore. The company reported excellent numbers in its both half-yearly results and annual results. The net sales increased by 50.69 per cent and net profit increased by 57.57 per cent in H2FY23 over H2FY22. The net sales increased by 40.99 per cent and the net profit increased by 40.24 per cent in FY23 over FY22.

Shares of the company have gained about 80 per cent in the last six months.