NATCO Pharma to sell stake in Nativita and assets of Pharma division

5 Sep 2022 , 09:19 AM

The Board of Directors of NATCO Pharma Limited at their meeting have considered and approved the proposal to sell the investment of 15% of shareholding in Joint Limited Liability Company (JLLC) “Nativita”, a Company which is registered under the Companies Law of the Republic of Belarus for an amount of 3,45,000 (three lakh forty five thousand only) Euros to “Pharmasyntez-Nord” Joint Stock Company, a legal firm under the laws of the Russian Federation.

Further, the board approved the proposal to assign the leasehold land wherein the Company’s Pharma Division is situated i.e., Plot No. 19 and Plot No. 18-A situated at Pharma City, SIIDCUL, Selaqui, Tehsil – Vikasnagar, Dehradun located at Uttarakhand, India and sell the buildings, plant, machinery and fixtures constructed in Plot No. 19 to Odon Lifesciences Private Limited for an amount of Rs15.73 crore (Rupees Fifteen Crores Seventy Three Lakhs only) which is subject to the approval of State Infrastructure and Industrial Development Corporation of Uttarakhand Limited (“SIIDCUL”), other Statutory and Regulatory Authorities.

Notably, the Unit was setup in 2005 contributed Rs.66.05 Crores (Rupees Sixty-Six Crores Five Lakhs only) in turnover comprising 3.55% Standalone Turnover and Rs11.84 crore (Rupees Eleven Crores Eighty-Four Lakhs only) net-worth comprising of 0.28% to the net-worth of the Company during the financial year 2021-22.

There will be no impact on turnover and profitability, as these products are moved to the other Units of the Company.

At around 9:19 AM, Natco Pharma Ltd is currently trading at Rs614.70 per share up by Rs5.5 or 0.9% from its previous closing of Rs609.20 per share on the BSE.

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