Morepen Laboratories has appointed Sharad Jain (DIN: 06423452) as an Independent Director, for a term of 5 consecutive years, effective from 27 August 2024. Powered by Capital Market - Live

Net revenue increased by 14% year-over-year (YoY) to Rs 458.64 crore during the period under review. The company holds a strong position in the Blood Glucometers and Blood Pressure (BP) Monitors markets. In Q1 FY25, the medical devices business recorded revenue of Rs 138 crore, marking a 20% growth year-on-year. Pharma segment Q1 FY25 revenue at Rs 320 crore registered a growth of 11% year-on-year, and it represents 70% of consolidated Q1 FY25 quarterly revenues. EBIDTA improved by 93% to Rs 55.05 crore in Q1 FY25 from Rs 28.51 crore in Q1 FY24. Profit before tax in Q1 FY25 stood at Rs 48.17 crore, up by 135% from Rs 20.51 crore in Q1 FY24. Morepen Laboratories said that the company's Blood Glucometer meter capacity would be doubled to 5.0 million meter pa from the current 2.5 million meter, while strip manufacturing capacity will increase from 500 million strips to 700 million strips per annum within the next 18 months. The company has successfully completed the subscription of a QIP for Rs. 200 crores on 5 August 2024. The issue was oversubscribed by 1.68 times, demonstrating strong confidence from institutional investors. Marquee global investors like Bank of America Securities Europe (BOFA), Samsung India, Citigroup, Societe Generale, Nomura, BNP Paribas, Morgan Stanley and Eminence are some of the select names that have partnered with Morepen, paving the way for a promising future. Sushil Suri, chairman and managing director of Morepen Laboratories, commented on the QIP, stating, 'This strategic fundraise marks a pivotal point in the company's growth journey. With the influx of this new capital, we will accelerate our capacity expansion plans and broaden our market reach.' Morepen Laboratories is an established player in domestic and international Active Pharmaceutical Ingredients ('API') markets. It is also planning to enter the anti-cancer segment by considering development of various potential candidates from list of top 100 synthetic molecules. The company also engaged in home diagnostics products, formulations and grooming products under the brand name GUBB. Powered by Capital Market - Live

Net profit of Morepen Laboratories rose 147.23% to Rs 36.17 crore in the quarter ended June 2024 as against Rs 14.63 crore during the previous quarter ended June 2023. Sales rose 13.51% to Rs 455.22 crore in the quarter ended June 2024 as against Rs 401.04 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales455.22401.04 14 OPM %11.346.51 - PBDT53.8928.23 91 PBT48.1720.51 135 NP36.1714.63 147 Powered by Capital Market - Live

Morepen Laboratories will hold a meeting of the Board of Directors of the Company on 12 August 2024.Powered by Capital Market - Live

Morepen Laboratories announced the successful subscription of a Qualified Institutional Placement (QIP) for Rs. 200 crore. The issue was subscribed 1.68 times with bids of Rs. 335 crore against the Rs. 200 crore offering, demonstrating strong confidence reposed by institutional investors. Marquee global investors like Bank of America Securities Europe (BOFA), Samsung India, Citigroup, Societe Generale, Nomura, BNP Paribas, Morgan Stanley and Eminence are some of the select names that have partnered with Morepen, paving the way for a promising future. Motilal Oswal Investment Advisors was the book running lead manager (BRLM) for the issue. Powered by Capital Market - Live