Even in the past, Unichem Laboratories divested certain parts of its business. In 2017, the company divested the formulation business with 120 brands in India and Nepal to Torrent Pharma in a Rs 3,600 crore deal.
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A major European multinational pharma company is eyeing quite a significant chunk of Unichem Laboratories as far as the entire promoter shareholding is concerned, sources have told CNBC-TV18. The sources said that the talks between this particular pharma major and the promoters are at an advanced stage.
The promoter and the promoter group own a 50.93 percent stake in the Mumbai-headquartered company, while the rest is held by public shareholders.
Even in the past, Unichem Laboratories divested certain parts of its business. In 2017, the company divested the formulation business with 120 brands in India and Nepal to Torrent Pharma
in a Rs 3,600 crore deal. At the time, news of promoters trying to sell stakes in the company had been doing the rounds for years.
management has told CNBC-TV18 that the news of a European multinational pharma company eyeing a significant chunk
is market speculation, and the firm does not want to comment on them.
Unichem shares were down 1.59 percent at Rs 425.90 from their previous close on BSE on Tuesday, November 22. The stock is trading near its 52-week high of Rs 467.00.
Unichem Laboratories’ FY22 revenues are close to Rs 1,270 crore, profitability is around Rs 33 crore, and the US is a significant market for the company as almost 55 percent of the revenues come from there.
In the July-September quarter, the net loss for the company widened despite reporting a 13 percent year-on-year growth in its topline to Rs 329 crore. Net loss for the quarter stood at Rs 70.6 crore, compared to a loss of Rs 12.6 crore during the same period last year due to a rise in total expenses. The company reported a loss of Rs 23.3 crore during the June quarter.
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First Published: Nov 22, 2022 6:42 PM IST