Aarti Drugs Limited has reported consolidated financial results for the period ended December 31, 2023.
Aarti Drugs Limited, a Mumbai based diversified and fully integrated pharmaceutical company, with interests in Active Pharmaceutical Ingredients (API), Formulation, Specialty Chemicals and Intermediates has won Pharmexcil Outstanding Exports Award 2021-2022.
Aarti Drugs Limited, a Mumbai based diversified and fully integrated pharmaceutical company with interests in Active Pharmaceutical Ingredients (API), formulation, specialty chemicals and intermediates, Q2 FY23 revenue stood at Rs. 687.8 crore, a growth of 19% YoY.
Aarti Drugs fell 2.24% to Rs 552.65, extending decline for second day.
During Friday's trading session, Aarti Drugs stock has slumped by nearly 5% after clocking the lower circuit of Rs2781.75 per piece on Sensex. The performance was swayed after the government imposed anti-dumping duty on Ciprofloxacin Hydrochloride imports from China.
Shares of Aarti Drugs surged as much as 13.48 per cent to Rs 2,398.40 on the BSE on Monday after the company announced that its board will meet on August 20 to consider bonus issue proposal.
Company’s stock among those that gained substantially during COVID-19 days. Drug maker planning contract manufacturing of specialty products. Other Indian pharma companies also benefit as buyers, both domestic and global, scout for non-Chinese suppliers of raw materials.
Repeated US FDA actions against leading Indian pharmaceutical companies, price control and adverse foreign exchange rates have started hitting their overall sales and bottom lines. The Pharmabiz study of 30 top Indian pharma companies in the first half of the current year clearly reflects adverse trend. The sales of these 30 companies account for almost 75 per cent of sales of Pharmabiz study of 100 companies during 2015-16.The growth in top line as well as bottom line of several companies remained single digit or negative during first half of 2016-17.
Facilities of Aarti Drugs on USFDA Import Alert List
Aarti Drugs Tanks 17% On Import Alert For Maharashtra Unit