The stock of a pharma company has defied gravity and has delivered unmatched returns of over 6,000 per cent in just four months. The stock of Orchid Pharma has outperformed not only equities and commodities like gold, but also most popular cryptocurrency, Bitcoin. Share of Orchid Pharma has rallied 6,488 per cent in just 4 months from Rs 18 on November 3, 2020, to record high of Rs 1,186 as of March 8, 2021. In contrast, the BSE benchmark SENSEX has gained 26.63 per cent during the same period, while Bitcoin price surged 203 per cent. The returned delivered by Orchid Pharma shares outperformed the combined gains of Sensex (27 per cent) and Bitcoin (203 per cent) by a factor of 28.
On Monday, Orchid Pharma share price opened at 52-week high of Rs 1,186 against previous closing price of Rs 1,129.55. The stock was locked in upper circuit of 5 per cent today. It is worth noting that the stock has hit an upper circuit every day since it got relisted on the stock exchange on November 3, after Dhanuka Labs acquired Orchid Pharma under an NCLT resolution. The market cap of the Chennai-based pharmaceutical company surged to Rs 4,840.83 crore. On the volume front, there was a surge in buying as 3,494 shares changed hand over the counter as compared to two-week average volume of 1,788 shares.
For the quarter ended December 31, 2020, the pharma company reported net loss at Rs 45.33 crore as compared to loss of Rs 34.75 crore in December 2019. Net sales were down 20.18 per cent to Rs 102.63 crore, from Rs. 128.58 crore in December 2019. On operating front, EBITDA was negative at Rs 3.81 crore as against Rs 2.02 crore in December 2019.
As per the latest shareholding pattern, Dhanuka Labs hold a 99.96 per cent stake in Orchid Pharma and financial institutions hold a 0.04 per cent stake.