The step, seen as an indicator of growth prospects by investors, send the company’s scrip shooting up to a high of Rs 2,599.90 on the National Stock Exchange as against the previous close of Rs 2,338.55.
The pharma firm said that the plot measures 50,399.16 square metres. Tatva Chintan Pharma reported an 811% on-year jump in consolidated net profit to Rs 32.4 crore in July-September, driven by a 105.8% rise in revenue from operations to Rs 123.6 crore.
Tatva Chintan Pharma Chem is a specialty chemicals manufacturing company engaged in the manufacturing of a diverse portfolio of structure directing agents (SDAs), phase transfer catalysts (PTCs), electrolyte salts for super capacitor batteries and pharmaceutical and agrochemical intermediates and other specialty chemicals (PASC). It is the largest and only commercial manufacturer of SDAs for zeolites in India.
For the second quarter, Tatva Chintan’s consolidated net profit jumped over nine-fold to Rs 32.41 crore as against Rs 3.56 crore a year ago.
Revenue from operations in July-September more than doubled to Rs 123.62 crore from Rs 60.04 crore in the corresponding quarter of previous fiscal. The company’s, earnings before interest, tax, depreciation and amortization (EBITDA) margin rose to 31.3 per cent from 13.85 per cent.
The company had made an impressive debut on stock exchanges in July, with a massive 95 per cent premium on listing over the issue price of Rs 1,083 per share on the BSE.
