Elder Pharma get "calcium" dose!

Elder Pharma has been pretty volatile for the past few days, hitting new lows while breaching upper circuits and showing heavy volumes. The stock is currently up almost 4.5% at Rs.83 with an intra day high at Rs.85.80. Volumes are at 45,000 shares getting traded today compared to 2W average of 43,000 shares. Market cap is at Rs.175 crore and its 52-week high stands at Rs.226.85.

The stock is up as the market is enthused with the company’s growth plans it spelt out in an interview with PTI. The company stated that it is looking at Rs.100 crore from global sales of its calcium supplement, Shelcal by FY18. This projection is based on its increasing export base in Europe, Asia and Africa. Elder had sold Shelcal's domestic market rights and 30 other brands to Torrent Pharma last year for Rs.2,000 crore but had retained the rights for the international markets.

The company plans to aggressively market Shelcal and its European thrust will be lead by Neutra Health, its wholly owned subsidiary in the UK which will market it across the EU. For current fiscal, the company hopes to garner more than Rs.25 crore revenue from Shelcal alone, driven by demand from countries such as Cambodia, Myanmar, Sri Lanka, Mauritius, Maldives, Zambia, Uganda.