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Elder Pharma trades jubilantly on plan to sell its factories in Maharashtra, Uttarakhand

11 Sep 2015 Evaluate

Elder Pharmaceuticals is currently trading at Rs. 96.55, up by 12.55 points or 14.94% from its previous closing of Rs. 84.00 on the BSE.

The scrip opened at Rs. 86.00 and has touched a high and low of Rs. 99.70 and Rs. 86.00 respectively. So far 96432 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 215.55 on 15-Sep-2014 and a 52 week low of Rs. 66.65 on 10-Jun-2015.

Last one week high and low of the scrip stood at Rs. 99.70 and Rs. 76.25 respectively. The current market cap of the company is Rs. 198.28 crore.

The promoters holding in the company stood at 25.33% while Institutions and Non-Institutions held 25.63% and 49.04% respectively.

In a bid to clear its debt, Elder Pharmaceuticals is reportedly planning to sell its factories in Maharashtra and Uttarakhand, as well as some real estate. The drug maker is facing a “severe financial crunch” and several executives have quit the firm and its audited financial results for the three months ended 30 June will be delayed.

The firm posted a loss of Rs 46 crore in the March quarter, compared with a loss of Rs 74 crore in the year-ago period. It had a debt of Rs 848 on crore on June 2014, down from the Rs 1,344 crore reported in June 2013.

Elder Pharmaceuticals has around six manufacturing units in India, all as per international standards. Post increasing its stake in Elder Biomeda AD and Neutrahealth PLC, EPL also has access to the manufacturing units of these companies in Bulgaria and Birmingham, UK respectively coupled with distribution network and brands of the same.

 

Peers
Company Name CMP
Sun Pharma Inds. 1696.65
Dr. Reddys Lab 1218.30
Cipla 1226.65
Zydus Lifesciences 936.00
Lupin 2339.20
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