Sequent slips 17%

Sequent Scientific, an animal health (API and formulations) company, has been stuck on the top loser slot on the BSE since the morning.  The stock opened over 8% lower at Rs.112 and went down to almost 17% to hit an intraday low at Rs.101.45.

The stock tumbled down on the back of its weak Q4FY22 earnings. The company’s consolidated net profit fell 57% (YoY) to Rs.9 crore and this was despite a 6% rise in revenue at Rs.384 crore.

EBITDA was down 20% at Rs.39 crore and margins fell from 13.7% to 10.1%. Total operating costs rose 10.5% of which raw material cost was up over 15%.