Aurobindo Pharma Ltd Share Price – NSE  /  BSE

Pharmaceuticals, Small Cap

Aurobindo Pharma Ltd dropped for a fifth straight session today. The stock is quoting at Rs 1190.15, down 0.65% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.46% on the day, quoting at 23977.8. The Sensex is at 79080.79, up 0.52%.Aurobindo Pharma Ltd has eased around 2.53% in last one month.Meanwhile, Nifty Pharma index of which Aurobindo Pharma Ltd is a constituent, has increased around 1.43% in last one month and is currently quoting at 19545.35, down 0.28% on the day. The volume in the stock stood at 9.84 lakh shares today, compared to the daily average of 15.19 lakh shares in last one month.

The benchmark June futures contract for the stock is quoting at Rs 1189.95, down 0.77% on the day. Aurobindo Pharma Ltd jumped 61.1% in last one year as compared to a 26.38% rally in NIFTY and a 43.07% spurt in the Nifty Pharma index.

The PE of the stock is 37.02 based on TTM earnings ending March 24.

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Earlier, on 29 February 2024, the US drug regulator issued 7 observations to the facility. The unit situated at Polepally Village, Jadcherla Mandal, Mahaboobnagar District in Telangana has now received establishment inspection report (EIR) classifying the facility as voluntary action indicated (VAI), the firm added.

Aurobindo Pharma is principally engaged in manufacturing and marketing of active pharmaceutical ingredients, generic pharmaceuticals and related services.

The pharma major reported 79.5% jump in consolidated net profit to Rs 908.75 crore on a 17.1% rise in revenue from operations to Rs 7,580.15 crore in Q4 FY24 over Q4 FY23.

The scrip shed 0.33% to trade at Rs 1,196.50 on the BSE.

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The benchmark indices continued to trade with substantial gains in mid-afternoon trade. The Nifty hovered above the 23,050 mark after hitting the day's low of 22,932 in morning trade. PSU Bank shares gained after declining in the previous trading session.

At 14:28 IST, the barometer index, the S&P BSE Sensex added 409.25 points or 0.54% to 75,811.78. The Nifty 50 index gained 102.50 points or 0.45% to 23,059.85.

The Sensex and Nifty clocked an all-time high of 76,009.68 and 23,110.80 respectively in early afternoon trade.

In the broader market, the S&P BSE Mid-Cap index added 1.02% and the S&P BSE Small-Cap index rose 0.25%.

The market breadth was negative. On the BSE, 1,794 shares rose and 2,113 shares fell. A total of 156 shares were unchanged.

Economy:

India’s forex reserves jumped $4.549 billion to a new all-time high of $648.7 billion for the week ended May 17, the Reserve Bank said on Friday.

Gold reserves increased $1.244 billion to $57.195 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up $113 million to $18.168 billion, the apex bank said.

India’s reserve position with the IMF was down $168 million to $4.327 billion in the reporting week, the apex bank data showed.

Buzzing Index:

The Nifty PSU Bank index added 1.53% to 7,471.85. The index shed 0.08% in the past consecutive trading session.

Indian Overseas Bank (up 9.82%), UCO Bank (up 6.76%), Punjab & Sind Bank (up 5.03%), Central Bank of India (up 4.33%), Bank of Maharashtra (up 4.18%), Punjab National Bank (up 2.53%), Union Bank of India (up 2.3%), Bank of India (up 1.69%), Indian Bank (up 1.66%) and State Bank of India (up 0.98%) edged higher.

Numbers to Track:

The yield on India's 10-year benchmark federal fell 0.34% to 6.974 as compared with previous close 6.973.

In the foreign exchange market, the rupee is edged higher against the dollar. The partially convertible rupee was hovering at 83.0825, compared with its close of 83.1000 during the previous trading session.

MCX Gold futures for 5 June 2024 settlement rose 0.42% to Rs 72,245.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.02% to 104.70.

The United States 10-year bond yield declined 0.11% to 4.468.

In the commodities market, Brent crude for July 2024 settlement shed 0.03 cents or 0.04% to $82.09 a barrel.

Stocks in Spotlight:

Aurobindo Pharma declined 2.44%. The company reported 79.5% jump in consolidated net profit to Rs 908.75 crore on a 17.1% rise in revenue from operations to Rs 7,580.15 crore in Q4 FY24 over Q4 FY23.

Astra Microwave Products rallied 9.87% after the company reported a consolidated net profit of Rs 54.40 crore in Q4 FY24, steeply higher than Rs 13.52 crore posted in Q4 FY23. Revenue from operations jumped 36.96% year on year to Rs 353.96 crore in Q4 FY24 as compared to Rs 258.44 crore recorded in Q4 FY23.

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Profit before exceptional items and tax for fourth quarter of FY24 stood at Rs 1,352.01 crore, up by 85.19% from Rs 730.06 crore in Q4 FY23. The company recorded an exceptional item of Rs 122.11 crore during the period under review.

Total expenses increased by 8.16% YoY to Rs 6,351.10 crore in March 2024 quarter. Cost of materials consumed was at Rs 2,634.88 crore (down 1.34% YoY) while employee benefits expenses stood at Rs 1,026.32 crore (up 20.47% YoY) during the period under review.

EBITDA jumped 68.3% to Rs 1,687 crore in Q4 of FY24 from Rs 1,002 crore in same quarter last year. EBITDA margin improved 677 bps on YoY basis to 22.3% in the quarter ended March 2024.

In the fourth quarter, US formulation revenue increased by 21.6% YoY to Rs 3,588 crore and accounted for 47.3% of consolidated revenue. Europe formulation revenue increased by 10.4% YoY to Rs 1,832 crore and accounted for 24.2% of consolidated revenue.

Growth Markets formulations revenue grew by 49.5% YoY to Rs 852 crore and accounted for 11.2% of consolidated revenue, mainly driven by expansion into new growth markets.

Further, ARV revenue increased 31.5% YoY to Rs 238 crore in Q4FY24 and accounted for 3.1% of consolidated revenue. API business revenue remained flat YoY at Rs 1,019 crore and accounted for 13.4% of consolidated revenue.

Research & Development (R&D) spend during the quarter was Rs 392 crore, representing 5.2% of revenues. It represented 5.4% of revenues in Q3 FY24.

During the quarter, the pharma major received final approval for 17 ANDAs including 4 specialty & injectable products from the USFDA.

On full year basis, the pharma company recorded 64.62% surge in consolidated net profit to Rs 3,172.97 crore on a 16.68% increase in revenue from operations to Rs 29,001.87 crore in FY24 as compared with FY23.

K. Nithyananda Reddy, vice-chairman and managing director of the company, said, “We are extremely delighted to report a strong performance for the quarter and the year, supported by the expansion into the new markets, product launches and stable pricing. Our improved capacity utilization has led to higher operating efficiencies. We are confident of continuing our growth in the upcoming year, while stabilizing the operations of the recently commercialized facilities.”

Meanwhile, the board re-appointed K. Nithyananda Reddy as vice chairman & managing director (MD) of the company for a period of three years with effect from 1 June 2024.

Further, the company informed that the United States Food and Drug Administration (USFDA) had conducted an inspection at Unit III, a manufacturing facility, of Eugia Pharma Specialities, a wholly owned subsidiary of the company, situated at Sangareddy District, Telangana from 22 January 2024 to 2 February 2024.

Subsequently, the USFDA has determined the inspection classification status of this facility as ‘official action indicated’ (OAI).

Aurobindo Pharma is principally engaged in manufacturing and marketing of active pharmaceutical ingredients, generic pharmaceuticals and related services.

The scrip fell 2.40% to trade at Rs 1,205.40 on the BSE.

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