Diversified Torrent Group crossed USD 20 billion (Rs 1.68 lakh crore) in market capitalisation on Friday, nearly doubling the market value on the back of robust growth across businesses spanning from pharma to energy.
Torrent Group had an m-cap of USD 10.8 billion (Rs 90,230 crore) on June 6, 2023.
On Friday, two listed companies of the group, Torrent Pharmaceuticals Limited and Torrent Power Limited gained 2.22 per cent and 2.59 per cent, respectively, setting a new milestone for the group’s market capitalisation at USD 20.2 billion at the close of market hours, according to stock exchange data.
Torrent Pharma has been an early mover into acquisitions when it acquired Elder Pharma in 2013, followed by a spree of acquisitions with latest being Curatio in 2022 to foray into the dermatology segment. The company’s large and bold bets are paying off a decade later.
Recently, the company inked a pact with Takeda Pharmaceuticals to commercialise its novel gastrointestinal drug Vonoprazan in India under the Torrent brand name of Kabvie for treatment of acid related disorders – Gastroesophageal Reflux Disease (GERD).
Torrent Pharma reported a 33 per cent jump in the net profit at Rs 1,656 crore for the fiscal 2023-24 with a revenue growth of over 12 per cent at Rs 10,728 crore.
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