SMS Lifesciences India Ltd provides status update on Ranitidine HCL

Post USFDA statement to recall and review the said molecule, various Regulatory Authorities globally are reviewing the information and few have halted the procurement; customers in some countries are taking trial with improved processes and will decide further course of action.

The company is currently providing the molecule within prescribed NDMA impurity Limits at release and is constantly working on quality improvement. Even though some production and supply is going on but there will be reduction in sales contribution of Ranitidine for the financial year 2020-21.

Financial Impact: Ranitidine being a high volume and low margin business; coupled with some good sales figures of other existing products; we do not foresee any significant impact on the profitability and we are confident of maintaining a sustainable revenue stream.

Shares of SMS Lifesciences India Ltd was last trading in BSE at Rs.432.25 as compared to the previous close of Rs. 436.1. The total number of shares traded during the day was 2242 in over 251 trades.

The stock hit an intraday high of Rs. 436.15 and intraday low of 420. The net turnover during the day was Rs. 962559.

Source : Equity Bulls

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