Latest news with #QualifiedInstitutionsPlacement
Time of India
4 days ago
- Business
- Time of India
Biocon reports 95% YoY decline in net profit, operating revenue up 15%
Biocon posted a 95% year-on-year decline in reported net profit in the first quarter ended-June. However, the company claims to have on a like-for-like basis booked a 65% increase in profit after tax, after adjusting for the one-time divestment gains it made in the same quarter a year ago from the sale of metabolic, oncology and critical care portfolio of its Branded Formulations India (BFI) business to Eris Lifesciences . The company's operating revenue for Q1FY26 grew 15% year-on-year to Rs 3,942 crore, while EBITDA for the quarter was at Rs 829 crore, up by 19% with an EBITDA margin of 21% on a like-for-like basis, the company said in a statement. 'The recent QIP has strengthened our balance sheet and enables us to increase our ownership in Biocon Biologics by facilitating the exit of structured equity investors, aligning capital structure with long-term strategic priorities,' said Kiran Mazumdar-Shaw, Chairperson, Biocon Group. 'With execution momentum across all businesses and expanded capacity through acquisitions in the US by Syngene and Biocon Generics, we are well-positioned to drive long-term value creation in FY26 and beyond,' said Shaw. Biocon concluded its first equity fundraise since the 2004 IPO, raising Rs 4,500 crores through a Qualified Institutions Placement (QIP) in June. The funds will be used to increase Biocon's holding in Biocon Biologics and provide an exit to the private equity investors in Biocon Biologics, the company said. The company's API & generic formulations business reported 6% growth in revenue from operations to Rs 697 crore. 'Growth in the quarter was primarily driven by revenues from recent drug product launches, including liraglutide in the EU, and dasatinib and lenalidomide in the US, supported by higher volumes in our API business,' said Siddharth Mittal, CEO & Managing Director, Biocon. 'We remain focused on launching new products, including the commercialisation of liraglutide across key strategic markets,' he added. Biocon Biologics posted 18% year-on-year revenue growth, driven by robust demand across key markets. The company's CRDMO business Syngene's revenue from operations grew 11% year-on-year to Rs 875 crore and EBITDA was at Rs 224 crore, reporting a growth of 19%. 'Growth was driven by continued momentum in research services, as pilot programs transitioned into long-term contracts,' said Peter Bains, CEO & Managing Director, Syngene International .
India.com
21-07-2025
- Business
- India.com
This FMCG stock in action today as board to meet consider fund raising via QIP
1 लाख के निवेश पर 10 लाख का फायदा Elitecon International, a smallcap stock, achieved a significant milestone on Monday, July 21, 2025, by hitting a fresh 52-week high. This remarkable feat was accomplished amidst a highly volatile stock market in the early trade. The stock opened with a gain of 5 per cent today, starting the trading session at Rs 131.25, the upper circuit of the counter. This surge in stock value is a testament to the company's resilience and potential. The market cap of the company is Rs 20.980 crore, and the scrip has been on an upward trajectory for the last 21 days, marking a rise of 165.74 per cent in the period. Technically, it trades higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages, indicating a strong performance. Company Plans To Raise Funds Via QIP The company has informed exchanges about its strategic move to raise capital. The board of directors is set to convene to discuss and approve the raising of capital by issuing equity shares via a Qualified Institutions Placement (QIP) valued at Rs 300 crores on Friday, July 25. This proactive step demonstrates the company's commitment to its growth and development. 'Raising of funds by issue of Equity Shares through Qualified Institutions Placement ('QIP') for an aggregate amount up to Rs.300,00,00,000/- (Rupees Three Hundred Crores) (inclusive of such premium or discount as may be fixed on such Equity Shares) subject to the receipt of approval of the Members of the Company and such other approval(s)/permission(s)/ consent(s)/ sanction(s) of any government/regulatory/ statutory authorities, as may be required,' the company said in an exchange filing. Share Price History According to BSE Analytics, Elitecon International's stock has been a standout performer, delivering a multibagger return of 1165.67 per cent so far this year. In six months, the counter has surged by 881 per cent, and in three months, it has seen a remarkable increase of 246 per cent. This detailed stock price history provides a comprehensive view of the company's stock performance, empowering the audience with valuable insights. Market Remains Volatile Meanwhile, equity benchmark indices Sensex and Nifty dropped in early trade on Monday. However, they rebounded amid buying in the blue-chip stocks ICICI Bank and HDFC Bank. The 30-share BSE Sensex declined 148.68 points to 81,609.05 in early trade despite a positive start. The 50-share NSE Nifty dropped 67.55 points to 24,900.85. Later, both the benchmark indices bounced back and were trading in the green. The BSE benchmark quoted 181.30 points higher at 81,944.67, and the Nifty traded 36.75 points up at 25,009.10.
Economic Times
19-07-2025
- Business
- Economic Times
Reliance Power Q1 Results: Swings to net profit of Rs 45 crore; revenue dips 5% YoY
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Anil Ambani-led Reliance Power on Saturday reported a consolidated net profit of Rs 44.68 crore for the first quarter ended June 2025, a turnaround from a loss of Rs 97.85 crore in the corresponding quarter of last Power said its revenue from operations fell 5.3% year-on-year to Rs 1,885.58 crore, down from Rs 1,992.23 crore in the first quarter of FY25. On a sequential basis, revenue declined 4.7% from Rs 1,978.01 crore reported in the March 2025 income in Q1 FY26 stood at Rs 2,025 crore, reflecting a 2% decline from Rs 2,069 crore a year the year-on-year profit recovery, net profit dropped 64% quarter-on-quarter, compared to a profit of Rs 125.57 crore in the March company reported EBITDA of Rs 565 crore for the quarter, while total debt servicing stood at Rs 584 crore. Reliance Power highlighted that its debt-to-equity ratio remains among the lowest in the week, the company's board approved a fundraising plan worth Rs 6,000 crore through Qualified Institutions Placement (QIP) and other modes. It also cleared the issuance of secured or unsecured, redeemable, non-convertible debentures of up to Rs 3,000 crore, in one or more tranches, via private placement or other of Reliance Power have gained 43.4% so far in 2025. The stock is up 129.5% over the past 12 months and has rallied 52.3% in the last six months. However, it is down 4% over the past one month.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
19-07-2025
- Business
- Time of India
Reliance Power Q1 Results: Swings to net profit of Rs 45 crore; revenue dips 5% YoY
Anil Ambani-led Reliance Power on Saturday reported a consolidated net profit of Rs 44.68 crore for the first quarter ended June 2025, a turnaround from a loss of Rs 97.85 crore in the corresponding quarter of last year. Reliance Power said its revenue from operations fell 5.3% year-on-year to Rs 1,885.58 crore, down from Rs 1,992.23 crore in the first quarter of FY25. On a sequential basis, revenue declined 4.7% from Rs 1,978.01 crore reported in the March 2025 quarter. Explore courses from Top Institutes in Select a Course Category Management Product Management Others Data Science Digital Marketing Design Thinking PGDM Finance healthcare Leadership Technology MCA CXO Healthcare Data Analytics Operations Management Data Science MBA others Project Management Cybersecurity Degree Public Policy Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK GMPBE India Starts on undefined Get Details Skills you'll gain: Duration: 9 Months IIM Calcutta CERT-IIMC APSPM India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIM Kozhikode CERT-IIMK General Management Programme India Starts on undefined Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Simple Morning Habit for a Flatter Belly After 50! Lulutox Undo Total income in Q1 FY26 stood at Rs 2,025 crore, reflecting a 2% decline from Rs 2,069 crore a year earlier. Despite the year-on-year profit recovery, net profit dropped 64% quarter-on-quarter, compared to a profit of Rs 125.57 crore in the March quarter. The company reported EBITDA of Rs 565 crore for the quarter, while total debt servicing stood at Rs 584 crore. Reliance Power highlighted that its debt-to-equity ratio remains among the lowest in the industry. Live Events Last week, the company's board approved a fundraising plan worth Rs 6,000 crore through Qualified Institutions Placement (QIP) and other modes. It also cleared the issuance of secured or unsecured, redeemable, non-convertible debentures of up to Rs 3,000 crore, in one or more tranches, via private placement or other means. Also read | RBL Bank Q1 Results: Net profit falls 46% YoY to Rs 200 crore; NII down 13% Shares of Reliance Power have gained 43.4% so far in 2025. The stock is up 129.5% over the past 12 months and has rallied 52.3% in the last six months. However, it is down 4% over the past one month.
Mint
19-07-2025
- Business
- Mint
1105% rally in YTD! Small-cap multibagger stock to be in focus on Monday; here's why
Small-cap multibagger stock: Shares of Elitecon International will be in focus on Monday, July 21, as the company in its filing said that board of directors is set to convene to discuss and approve the raising of capital by issuing equity shares via a Qualified Institutions Placement (QIP) valued at ₹ 300 crores on Friday, July 25. 'Raising of funds by issue of equity shares through QIP for an aggregate amount up to ₹ 300,00,00,000 subject to the receipt of approval of the members of the company and such other approval(s)/ permission(s)/ consent(s)/ sanction(s) of any government/regulatory/ statutory authorities, as may be required,' said the firm. Over the last month, Elitecon International has demonstrated exceptional performance, registering an impressive rise of 128.44%, greatly surpassing the Sensex, which has only increased by 0.38% during this time. Year-to-date, the stock has skyrocketed by an incredible 1105.40%, while the Sensex has only seen a rise of 4.14%. On Friday, July 18, Elitecon International share price closed 4.95% higher at ₹ 125 apiece on the BSE. Recently, the company announced that the board reviewed the current status of the proposed acquisition of 100% equity shares of Prime Place Spices Trading LLC from its sole shareholder, Mr. Santosh Sharma, as previously authorized. Based on insights from the ongoing legal and financial due diligence conducted by both internal and external teams, the Board has pinpointed several significant gaps and outstanding issues that substantially affect the transaction's viability. The board has set a deadline of August 16, 2025, for the target entity to address and present the required explanations/documents to the board's satisfaction in order to continue discussions about the acquisition of the target company. If this is not accomplished, the proposed transaction will be considered closed. Elitecon Intl. specialises in the production and sale of various tobacco products, including cigarettes and smoking supplies, as well as any other goods typically offered by tobacconists. At present, the Company operates in international markets including the UAE, Singapore, Hong Kong, and various European nations such as the UK, with intentions to expand its product line to include chewing tobacco, snuff grinders, lighting matches, match boxes, pipes, and other related items. The Company has introduced brands like Inhale in the cigarette sector, Al Noor in the sheesha category, and Gurh Gurh in the smoking mixture range. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
