Venus Remedies shines on registering 9.22% increase in annual sales in FY22
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Venus Remedies is currently trading at Rs. 209.55, up by 6.65 points or 3.28% from its previous closing of Rs. 202.90 on the BSE.
The scrip opened at Rs. 206.55 and has touched a high and low of Rs. 214.80 and Rs. 206.55 respectively. So far 5537 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 638.50 on 09-Aug-2021 and a 52 week low of Rs. 178.65 on 30-May-2022.
Last one week high and low of the scrip stood at Rs. 228.10 and Rs. 178.65 respectively. The current market cap of the company is Rs. 284.38 crore.
The promoters holding in the company stood at 40.81%, while Institutions and Non-Institutions held 0.33% and 58.86% respectively.
Venus Remedies has registered a 9.22 per cent increase in annual sales in 2021-22 in comparison to sales in 2020-21. Aided by concerted efforts to build on its export orders, supply chain, distribution network and product portfolio, the annual sales of Venus Remedies grew from Rs 548.12 crore in FY2020-21 to Rs 598.65 crore this fiscal (2021-22).
The company also reported a 16.81 per cent increase in operating profit, which went up from Rs 53.78 crore last fiscal to Rs 62.82 crore in 2021-22.
Venus Remedies is one of the handful player in pharmaceutical sector to launch world global injectable manufacturers. It has world-class manufacturing facilities in Panchkula and Baddi (in India) and Werne (in Germany) and research and development center in Venus Medicine Research Centre (in India).
