Share of Bafna Pharma has delivered strong returns to investors in last one year. Bafna Pharma share price stood at Rs 5.51 an year ago and closed at Rs 120.50 March 8, translating into gains of 2,086.93% during the period. In comparison, Sensex gained 34.24% during the period.
An investment of Rs 1 lakh in the share a year ago would have grown to Rs 21.86 lakh today. Bafna Pharma stock has outperformed its peers in terms of returns during the last one year. Against 2,086% rise in Bafna Pharma share, share of Venus Remedies could climb 689%.
While share of another pharma firm Gujarat Themis Biosyn gained 83.38%, Ind-Swift Labs share rose 384% during last one year. Lasa Supergenerics stock could manage a gain of 63.9% during the same period.
The micro cap stock closed 1.23% or Rs 1.50 lower at Rs 120.50 today against the previous close of Rs 122 on BSE. The stock has lost 3.6% in the last 2 days. Market cap of the firm fell to Rs 285 crore on BSE. The stock has lost 1.91% in one week. The share stands higher than 100 day and 200 day moving averages but lower than 5 day, 20 day and 50 day moving averages.
The strong returns from the stock can be attributed to robust financial performance of the firm.
Bafna Pharma reported a 104% rise in Q3 net profit at Rs 0.90 crore against Rs 56.55 crore in the corresponding period of the previous fiscal. Sales climbed 59.93% to Rs 17.48 crore in the December quarter of the current fiscal against Rs 10.93 crore sales in Q3 of last fiscal. In fact, net profit rose 87.50% to Rs 0.90 crore in Q3 against Rs 0.48 crore profit in Q2 of current fiscal. Net sales rose 15% to Rs 17.48 crore in Q3 against Rs 15.20 crore in the preceding quarter.
However, on yearly basis, net loss rose 16.52% to Rs 22.99 crore for fiscal ended March 2020 against Rs 19.73 crore loss for fiscal ended March 2019. Sales also fell 2.05% to Rs 42.47 crore in last fiscal against Rs 43.36 crore sales for March 2019 fiscal. For the quarter ended December 2020, promoters' stake in the firm stood at 92.64% unchanged from the September quarter.
It would be important to note that the firm has undergone corporate insolvency resolution process (CIRP). The pharma company offers tablet, capsule, oral forms, and other related pharmaceutical products and serves customers worldwide.