Orchid Chemicals scales 52-week high on healthy Q3 numbers

Orchid Chemicals & Pharmaceuticals rose 2.79% to Rs 316.30 at 12:09 IST on BSE after posting 91.06% rise in net profit to Rs 54.11 crore in Q3 December 2007 over Q3 December 2006.

The company announced the results during market hours today, 17 January 2008.

Meanwhile, BSE Sensex was up 13.75 points or 0.07% to 19,884.84.

On BSE, 12.48 lakh shares were traded in the counter. The stock had an average daily volume of 4.26 lakh shares in the past one quarter.

The stock hit a high of Rs 328. It is also a 52 week high for the scrip. It hit a low of Rs 304.25 so far during the day. The stock had hit a 52 week low of Rs 176 on 22 August 2007.

The mid-cap scrip had outperformed the market over the past one month till 16 January 2008, rising 25.26% as compared to the Sensex's return of 4.13%. It also outperformed the market in the past one quarter, rising 38.63% as compared to the Sensex's rise of 10.39%.

The company's current equity is Rs 65.84 crore. Face value per share is Rs 10.

The current market price of Rs 316.30 discounts its Q2 September 2007 annualised EPS of Rs 38.44 by a PE multiple of 8.22.

Orchid Chemicals & Pharmaceuticals' total income rose 39.32% to Rs 332.99 crore in Q3 December 2007 over Q3 December 2006.

The company is engaged in manufacturing and selling pharmaceuticals ingredients and finished dosage forms. It has two divisions, namely bulk drugs and formulations. It focuses on the cephalosporin range of antibiotics. The company exports to Asia Pacific, Europe, Middle East, South and Central America, North America and Commonwealth of Independent States (CIS) Countries.