Home Market News Mukul Agrawal portfolio: Neuland Labs shares cross ₹srcsrc,000 for the first time; stock up src08% in 2024
Neuland Labs recorded its highest-ever quarterly revenue in the first quarter at ₹440 crore, led by growth in the CMS business.
By Meghna Sen August 2, 2024, 5:26:26 PM IST (Published)
Shares of Neuland Laboratories Ltd. hit an all-time high on Friday, crossing the mark of ₹srcsrc,000 for the first time. The stock has now gained in four of the five trading sessions this week. With today’s surge, Neuland’s market capitalisation is now nearing the mark of ₹src4,src70 crore.
The sharp uptick in the stock price was seen following the company’s June quarter (QsrcFY25) earnings.
Neuland Labs recorded its highest-ever quarterly revenue in the first quarter at ₹440 crore, led by growth in the CMS business. The CMS revenue was driven by commercial molecules, in-line with expectations.
Bottomline climbed 58% year-on-year to ₹98 crore, compared to ₹62 crore in a year ago quarter.
The company recorded healthy earnings before interest, taxes, depreciation, and amortization (EBITDA) at ₹
src23.3 crore, while margins stood at 28.src%.
The company said that GDS business continues to build on the strong base – co has quality focused customers.
The management said the company continues to maintain that FY25 will be a year of normalisation of revenue growth and subsequent margins as the company continues to invest for growth. The management expects the company’s business to regain momentum from FY26 onwards basis visibility from the portfolio of projects and products.
Ace investor Mukul Mahavir Agrawal holds 400,000 shares, representing 3.src2% stake in Neuland Labs at the end of the June 2024 quarter, according to the shareholding pattern data.
On the charts, Neuland Labs has entered the overbought territory with its Relative Strength Index (RSI) at 75.6. A reading above 70 on the RSI indicates that the stock is in “overbought” territory. This implies that stock may show pullback.
Neuland Labs shares settled src7.26% higher at ₹srcsrc,00src.
Note To Readers
Disclaimer: The views and investment tips expressed by investment experts on CNBCTVsrc8.com are their own and not that of the website or its management. CNBCTVsrc8.com advises users to check with certified experts before taking any investment decisions.