Sudarshan Pharma Guarantees Configuration For Bioplastics And Declares Its Strategic Acquisitions

Sudarshan Pharma Guarantees Configuration For Bioplastics And Declares Its Strategic Acquisitions

In a major business milestone, Sudarshan Pharma Industries Limited (SPIL) of Mumbai has achieved significant expansion in innovation and growth of its international presence.

SPIL signed a five-year Technology Transfer Agreement with Uttaranchal University on January 24, 2025. The agreement provides for the exclusive use and ownership of Indian Patent No 202111029005 in the process of making bioplastics from rice stubble, aloe vera waste, PVA, and glycerol plasticizer. This expenditure is indicative of SPIL’s innovative sustainable solutions.

Equally important, SPIL entered into a five-year Rent Agreement with Daundi Biological Private Limited for the construction of a modern R&D formulation center in Dehradun. The center is expected to come into operation in March 2025 and will enhance SPIL’s research activities.

Moreover, SPIL has received approval from its Board of Directors for the acquisition of Cibachem General Trading L.L.C., a general trading company based in Dubai for Rs 25 lakh. Once approved by the RBI, the acquisition is expected to be finalized by March 31, 2025. This acquisition is a major step towards increasing SPIL’s customer base in the Middle East.

The company has also carried out a stock split in order to improve liquidity and encourage retail participation. As of November 22, 2023, SPIL issued equity shares having a face value of Rs 10 each, which were converted into 10 shares of Re 1 each.

With the stock price falling by Rs 0.88 or 2% to Rs 43.16 on Monday, the SPIL stock price performance remains good even with recent developments in the market. The stock has appreciated by an impressive 662% from the 52-week low price of Rs 5.82 per equity share, demonstrating strong investor sentiment. With a market capitalization greater than Rs 1000 crores, the company has experienced stellar profit CAGR growth of 37% over the previous five financial years.

SPIL began operations in 2008 and is one of the major contract manufacturers of generic formulations. The company is involved in several lines of business – specialty chemicals, intermediates, APIs, pharmaceutical generics and their bulk supply. SPIL has also entered into branded product marketing through its Vimac Healthcare division and has 56 out of 96 items registered under the “R” trademark.

SPIL maintains itself as a prominent player in India’s pharmaceutical industry due to its impeccable partnerships with key Indian businesses and healthcare institutions along with its distinguishable product portfolio. Recent innovations like technology transfer, setting up an R&D center, and incorporating Cibachem into SPIL’s business further establish their need for global expansion.

To attain the company’s core mission of innovation along with expansion, SPIL plans to properly engage the opportunities present in the current emerging markets of specialty chemicals and pharmaceuticals.

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Original news source Credit: www.goodreturns.in

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