Concord Biotech among gainers

Concord Biotech is among the top five gainers on the BSE today morning; the stock opened almost status quo but soon jumped up to an intraday high at Rs.1993, up 5%. Its 52-week high is at Rs.2658.

The stock is up on its optimistic earnings call held on the 19th  post which it is on the radar of many fund houses and analysts. For Q2FY25, the company posted a revenue of Rs.310 crore on which PAT came in at Rs.99 crore, a 18% YoY growth in both revenue and PAT.

The company said that growth is driven by its immunosuppressant segment and is optimistic of achieving similar growth and market share in its other segments. Its formulation business, started in 2016 is doing good and accounted for approximately 26% of its total business and it is now expanding this segment by adding an injectable facility by the end of this financial year.

The management said that it has a pipeline of 8-10new products which it plans to commercialize over the next 3 to 4 years. The company said that it remains in line with its long-term CAGR guidance of the 25% growth.