Earlier, on November 15, 2019, the foreign institutional investor, Nomura Singapore had purchased 950,000 equity shares or 0.69 per cent stake in the company at Rs 410 per share on the BSE, data shows.
had reported 11 per cent year on year (YoY) growth in profit before tax (PBT) at Rs 103 crore in September quarter. Sales grew by 7.8 per cent YoY at Rs 285 crore. Ebitda (earnings before interest, tax, depreciation and amortisation) margin improved 46bps at 38.6 per cent over the previous year quarter.
With its focus on therapies for lifestyle-related disorders, Eris is expected to register 13 per cent/21 per cent revenue/PAT CAGRs over FY19-21. A purely domestic pharma company, it is driven by high-growth chronic therapies and specialty acute therapies (complementing its chronic range), according to analysts at Anand Rathi Share and Stock Brokers.
The brokerage firm believes the strong revenue growth, healthy Ebitda margin and low capex required, together with strong profit growth, would continue to result in healthy free-cash-flow generation.