Nectar Lifesciences CEO Dinesh Dua says the company has been successfully inspected by the USFDA and is awaiting written approval. According to him, this is the time to get returns on investments spread over almost the last 5 years.
We are all set to reap the dividends of hard work and deep routed investments
Dinesh Dua
CEO
Nectar Lifesciences
There have rumours that the promoters of Nectar Lifesciences are looking to offload 44 percent stake in the company. But CEO Dinesh Dua says there is no truth in this. "I have categorically cleared up with Sanjiv Goyal and there is nothing of this nature, I can clearly state that," he adds.
He says the company has been successfully inspected by the USFDA and is awaiting written approval. According to him, this is the time to get returns on the investments spread over the last 5 years.
"Now Nectar Lifesciences will get to the next level of performance and increased EBITDA from current 18 percent to 25-30 percent in the next 4-5 years. Now, we are all set to reap the dividends of hard work and deep routed investments," he explains and hence there is no question of the promoters (Sanjiv Goyal) selling stake.
Private equity firm New Silk Route holds 32 percent in the company, of which equity is 11 percent, rest is GDR. For them also it is time to reap the dividends, he believes. New Silk Route had invested in the company in 2010 and has stayed invested since then.
Nectar Life stock price
On June 09, 2014, at 14:15 hrs Nectar Lifesciences was quoting at Rs 33.00, up Rs 3.80, or 13.01 percent. The 52-week high of the share was Rs 35.00 and the 52-week low was Rs 9.65.
The company's trailing 12-month (TTM) EPS was at Rs 2.77 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 11.91. The latest book value of the company is Rs 41.46 per share. At current value, the price-to-book value of the company is 0.80.
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