Sequent Scientific tanks 17% on weak Q4; stock down 70% from 52-wk high

Shares of Sequent Scientific tanked 17 per cent to hit a recent 52-week low of Rs 101.45 on the BSE in Thursday’s commerce on the again of heavy volumes after the corporate’s consolidated revenue after tax (PAT) more-than-halved to Rs 9 crore within the March quarter (Q4FY22).

At 11:19 am; the stock was buying and selling 13 per cent decrease at Rs 106.15, as in comparison with a 0.38 per cent decline within the Sensex. The buying and selling volumes on the counter had doubled with a mixed 4.8 million fairness shares having modified arms on the NSE and BSE. Moreover, the scrip has corrected 70 per cent from its 52-week high degree of Rs 336.40 touched on June 29, 2021.

The decline within the firm’s internet revenue was because of greater operational price. The firm, which is engaged in companies throughout animal well being (Alivira) & analytical companies, had posted a revenue of Rs 20.6 crore within the yr in the past quarter.

Its consolidated income grew 6 per cent yr on yr to Rs 383.7 crore from Rs 361.8 crore within the corresponding quarter of earlier fiscal. Earnings earlier than curiosity, taxes, depreciation, and amortization (EBITDA) margin contracted 360 bps YoY at 10.1 per cent.

On a full year-basis, the corporate’s consolidated internet revenue declined 49 per cent YoY to Rs 109 crore in FY22 in opposition to Rs 216 crore in FY21. EBITDA margin declined to 7.7 per cent from 15.9 per cent within the earlier yr.

“The macro atmosphere continues to be difficult because of volatility in prices and disruptions throughout provide chains. India enterprise achieved a key milestone crossing the landmark of Rs 100 crore revenues for the yr. The Europe enterprise’ weak spot was owing to produce chain pressures and slowdown in demand. Surprises in foreign money volatility impaced Turkey development, and uncertainty is prone to proceed within the close to future,” the administration stated.

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