Shares of Panacea Biotec, a leading pharmaceuticals company, surged 5% to hit the upper circuit limit on Thursday, December 26, following the announcement of a major order from UNICEF. The company secured an order worth ₹127 crore for the supply of 115 million doses of the bivalent oral polio vaccine (bOPV) in 2025.
Panacea Biotec’s Big Win with UNICEF
In an exchange filing on Tuesday, December 24, Panacea Biotec revealed that it had received a Letter of Award from UNICEF for the supply of bOPV worth approximately $14.95 million (₹127 crore). This significant order bolstered investor confidence and led to a sharp rise in the stock price.
Impact on Stock Price
Following the news, Panacea Biotec’s stock price jumped by 5% to hit ₹456.25, its upper circuit limit. At 10:45 am, the stock was trading 4% higher at ₹452. The stock had previously hit a 52-week high of ₹489 on December 12, while its 52-week low of ₹112.70 was recorded on June 4.
The company’s market capitalization currently stands at ₹2,768.53 crore, reflecting its strong growth prospects.
Multibagger Returns for Investors
Panacea Biotec has been a multibagger stock in 2024, delivering stellar returns to its investors. In the last six months, the stock has surged by 225%, and on a year-to-date basis, it has risen by 167%, making it a strong performer in the small-cap segment.
Financial Performance
For the quarter ended September 2024, Panacea Biotec reported a modest 3% growth in revenue, reaching ₹147.35 crore compared to ₹143.02 crore in the same quarter last year. However, the company significantly improved its profitability, posting a profit after tax (PAT) of ₹4.80 crore, a sharp turnaround from a loss of ₹8.37 crore in the September 2023 quarter and ₹15.80 crore in the June 2024 quarter.
About Panacea Biotec
Panacea Biotec is a prominent biotechnology company engaged in research, development, manufacturing, sales, and marketing of pharmaceuticals and vaccines. With its latest contract win from UNICEF, the company is poised for further growth in the global vaccine market.
