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The drug maker stated that since no business operations are carried out on the said land and building being sold, the sale will not have any impact on the business operations of the company.
Further, the sale of the said property does not constitute an undertaking or substantially the whole of the undertaking for the company in terms of Section 180(1)(a) of the Companies Act, 2013.
Natco Pharma is engaged in the business of pharmaceuticals which comprises research and development, manufacturing and selling of bulk drugs and finished dosage formulations. The company has manufacturing facilities in India, which cater to both domestic and international markets, including regulated markets like the United States of America and Europe.
The company’s consolidated net profit surged 83.55% to Rs 677.30 crore on a 32.93% increase in revenue from operations to Rs 1,371.1 crore in Q2 FY25 over Q2 FY24.
The scrip rose 0.11% to currently trade at Rs 1,362.65 on the BSE.
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