Wanbury Limited's Stock Price Rises After Successful USFDA Inspection at Patalganga Site

Wanbury Limited's Stock Price Rises After Successful USFDA Inspection at Patalganga Site

Wanbury Limited, a Mumbai-based company, saw a 2.25% increase in its stock price to Rs 163.95 per share after the United States Food & Drug Administration (USFDA) issued zero observations following an inspection at its Patalganga site. This marked the sixth successful USFDA inspection for Wanbury at the Patalganga site, reinforcing the company's dedication to maintaining high standards of quality and compliance with regulatory standards.

The USFDA inspection at Wanbury's Patalganga site, which took place between June 10, 2024, and June 14, 2024, did not result in any 483 observations. The company expressed its satisfaction with the outcome, stating that it remains committed to upholding quality and compliance at both its API manufacturing sites in Maharashtra and Andhra Pradesh, both of which are USFDA approved. Additionally, Wanbury, formerly known as Pearl Organics Limited, is engaged in the manufacturing and distribution of formulations and active pharmaceutical ingredients (API) across various therapeutic areas such as gynaecology, orthopaedics, hematinics, antidiabetic treatments, nutraceuticals, and more.

In the financial quarter ending in March 2024, Wanbury reported a significant improvement in its financial performance, with a profit of Rs 8.3 crore compared to Rs 1 crore in the same quarter a year ago. The company's revenue from operations also increased by 4.8% annually to Rs 139.4 crore. Furthermore, Wanbury's operating profit rose by 60% on a year-on-year basis to Rs 19.1 crore, leading to a 460 basis points increase in operating profit margin to 13.7%. With a 52-week high of Rs 177.40 and a low of Rs 46.56 per share, Wanbury Limited's market capitalization stands at Rs 533.42 crore according to the Bombay Stock Exchange (BSE).