Turned ‘sick’, Zenotech Laboratories goes to BIFR, stock slips 5%

The company said that it has been registered a sick industrial unit with BIFR.

Sep 23, 2015 02:09 IST India Infoline News Service

Zenotech Laboratories has declared itself as a sick industrial company to the Board for Industrial and Financial Reconstruction (BIFR). The stock plunged by 5% to Rs. 37.40.

In a filing to the BSE, the company said that it has been registered a sick industrial unit with BIFR.

On BSE, the stock opened lower at Rs. 37.40 as against its previous close of Rs. 39.35. It hit a high of Rs. 39.70 during the session.

For the Q1 of current fiscal, the company reported loss of Rs. 5.12 crore as against a loss of Rs. 10.20 crore in March-15 quarter (Q-o-Q basis). For the FY15, the company reported net profit of -30.41 crore.

As per the share holding pattern of the company, Sun Pharmaceutical Industries Ltd and Daiichi Sankyo Company Ltd hold 46.84% and 20% shares respectively in the company.

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