Unichem Laboratories is the latest investment of Porinju Veliyath

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Pee Vee
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Unichem Laboratories is the latest investment of Porinju Veliyath

Post by Pee Vee » Sun Jan 16, 2022 12:08 pm

Porinju Veliyath's Equity Intelligence India has added a Pharma stock to the portfolio, namely, Unichem Labs. The PMS Fund acquired 54,850 equity shares in the company via open market transactions.

Unichem Laboratories is a fundamentally strong stock. Last month, the Company received Abbreviated New Drug Application (ANDA) approval from the US Food and Drug Administration (USFDA) for Aripiprazole tablets USP.

Aripiprazole tablets are indicated for Schizophrenia and Irritability associated with Autistic Disorder. The product will be commercialized from Unichem’s Ghaziabad Plant.

Unichem reported standalone net sales for July-September at Rs 216.97 crores, down 30.22 per cent year-on-year. Consolidated net sales were at Rs 290.66 crores in the quarter under review, registering a decline of 8.46 per cent from a year ago.

It reported a consolidated net loss of Rs 11.48 crore for the quarter ended on June 30, 2021. The company had posted a net profit of Rs 2.43 crore for the corresponding period of the previous fiscal.

Consolidated total income of the company stood at Rs 313.70 crore in April-June as against Rs 333.93 crore for the same period a year ago.

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