Alkem Laboratories’ equity worth ₹487 Crore change hands

22 Aug 2024 , 11:12 AM

On Thursday, August 22, 8.5 lakh shares, or 0.7% of Alkem Laboratories’ equity, changed hands for ₹5,732 a share in a block deal window worth ₹487 Crore.

On Wednesday, it was reported that a promoter of drug manufacturer Alkem Laboratories Ltd was planning to sell a 0.7% stake in the company, or 8.5 lakh shares, through block agreements.

According to sources, the floor price would be ₹5,616 per share, which is 3% lower than the current market price (CMP).

Alkem Laboratories reported a roughly 90% increase in earnings in the first quarter due to greater domestic sales. The profit attributable for the quarter ended June 30 increased to ₹545.16 Crore from ₹286.73 Crore the previous year. Revenues from operations increased to ₹3,031.82 Crore from ₹2,967.72 Crore last year.

EBITDA was ₹608.6 Crore, with a 20.1% margin compared to 13.1% the previous year. EBITDA increased by 56.4% throughout the period.

In the domestic market, the company’s sales increased by 6.4% year-on-year to ₹2,022.3 Crore. Domestic sales accounted for 67.6% of total company sales in the first quarter of fiscal 2025, up from 65.2% the previous year. International sales were ₹967.7 Crore, 4.6% lower than a year ago.

At around 10.21 AM, Alkem Laboratories was trading 0.20% lower at ₹5,778.45 per piece, against the previous close of ₹5,790 on NSE. The counter touched an intraday high and low of ₹5,864.55, and ₹5,748.50, respectively.

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