Multibagger small-cap stock: Shares of pharmaceuticals company Panacea Biotec rallied 5 per cent to hit the upper circuit limit on Thursday, December 26 after the company said it won an order from UNICEF worth ₹127 crore. The order is for the supply of 115 million doses of bivalent oral polio vaccine (bOPV).
The small-cap stock in an exchange filing on Tuesday, December 24 said, “We are delighted to inform you that Panacea Biotec Limited has received a Letter of Award from UNICEF for supply of 115 million doses of its bivalent oral polio vaccine (bOPV) worth ~US$ 14.95 million (~Rs.127 crore) in CY2025.”
Panacea Biotec Stock Price Impact
Following the announcement, Panacea Biotec share price jumped 5 per cent to hit its upper circuit limit of ₹456.25. Around 10.45 am, Panacea Biotec share price was trading 4 per cent higher at ₹452 apiece.
The stock hit a 52-week high of ₹489 apiece on December 12 while its 52-week low stands at 112.70, which it touched on June 4. The company has a market capitalization of 2,768.53.
Panacea Biotec has delivered a solid performance in the current financial year, with the stock surging 225 per cent in the last six months and 167 per cent on a year-to-basis, offering multibagger returns to investors.
Panacea Biotec Financial Performance
For the quarter ended September 2024, Panacea Biotec posted a mere 3 per cent on-year growth in revenue from operations to ₹147.35 crore as against ₹143.02 crore posted in the corresponding quarter last year.
However, its profit after tax (PAT) for the said quarter came in at ₹4.80 crore as against a loss of ₹8.37 crore in the September 2023 quarter and ₹15.80 crore in the June 2024 quarter.
Panacea Biotec is a leading biotechnology company involved in research and development, manufacturing, sales, distribution and marketing of pharmaceuticals and vaccines.
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