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May 11, 2023

530 per cent returns: Multibagger micro

On Friday, shares of Shree Ganesh Remedies surged more than 3 per cent to trade

On Friday, shares of Shree Ganesh Remedies surged more than 3 per cent to trade at an intraday high of Rs 369.60 apiece on BSE. The scrip witnessed some profit booking and closed 0.11 per cent down at Rs 357 per share on BSE.

In Q4FY23, the company's revenue from operations surged by 42.7 per cent from last year's same quarter to Rs 29.3 crore. The EBITDA level stood at Rs 7.77 crore, witnessing a growth of 67.1 per cent from March 2022 quarter. The net profit of the company zoomed more than 52 per cent from corresponding quarter last year to Rs 5.86 crore.

Commenting on the company's performance, Gunjan Kothia, the Executive Director of the company, expresses his excitement about the unveiling of the expansion of three manufacturing blocks and the establishment of a state-of-the-art R&D Centre. This strategic investment represents a significant advancement in their growth trajectory and underscores their dedication to achieving excellence in API Intermediates and specialty chemical manufacturing.

The company remains steadfast in its commitment to delivering ground-breaking solutions and reducing the industry's dependence on China by providing dependable supply, manufacturing expertise, and research capabilities. The newly established R&D centre will serve as a focal point for innovation, enabling them to support their esteemed customers' vision and foster expansion in the global market.

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Shree Ganesh Remedies is engaged in the business of pharma intermediate. The company is focused on value added products, in order to mitigate any threats to margins due to increased supply and raw material cost inflation.

The stock has witnessed significant buying activity as it has given multibagger returns of more than 530 per cent in just 3 years. Keep a close eye on this trending stock.