The Hindu Business Line : Albert David jumps 90 pc in a week

ALBERT David Ltd (ADL), a company engaged in the business of bulk drugs, stock price has almost doubled in the last one week in line with interest in pharmaceutical stocks.

The stock increased from Rs 84 on December 7 to Tuesday's closing price of Rs 159.80 on the BSE, a rise of 90 per cent. In today's trading, the stock gained 9.79 per cent.

The rise in the stock price is along with a jump in trading volumes.

Brokers said the interest in the stock has come due to the consolidation of ADL's operations and strengthen its marketing to meet challenges from domestic and global players. Moreover, steady growth in the company's financials over the last few years has also brought interest in the stock.

In the first half of current fiscal, the company reported a net profit of Rs 4.71 crore on sales of Rs 61.89 crore. EPS for the six months was Rs 8.28.

For the financial year 2003-04, its net profit was Rs 7.25 crore on sales of Rs 115.7 crore while the EPS stood at Rs 12.71.

An analyst with a domestic broking firm said for the current financial year the company is expected to substantially better the last fiscal performance.

He said this is due to the company's focus on formulations to maintain an edge over its competitors.

The management is contemplating a new production unit with multi-utility facilities with investment of Rs 30-35 crore.

ADL also plans to establish overseas outfits and it is looking at countries such as Vietnam, Myanmar and some of the African nations. However, he said this is in very preliminary stage.

The company is also considering new formulations in areas such as gynaecology, gastroenterology, anti-diabetics, cardio-vascular, vitamins, anti-ulcer, anti-inflammatory and haematinics.

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