Procter & Gamble Health Ltd plans to source injections portfolio from contract manufacturer

Procter & Gamble Health Limited plans to source injections portfolio of its products from a contract manufacturer, hence the Company shall discontinue production of injections at its manufacturing plant in Goa effective September 30, 2023.

The injections portfolio, procured from the Company's manufacturing facility at Goa, accounted for revenue of Rs. 102.92 crores during the financial year 2022-23, constituting 8.37% of the Company's total revenue. Discontinuation of production at Company's plant in Goa, shall not have an impact on continuity of sale of injections by the Company, as the products will be sourced from a contract manufacturer.

The Company is outsourcing manufacturing of the injections portfolio, with an intent to achieve cost efficiency and supply optimization.

Shares of Procter & Gamble Health Limited was last trading in BSE at Rs. 4973.15 as compared to the previous close of Rs. 4966.55. The total number of shares traded during the day was 332 in over 191 trades.

The stock hit an intraday high of Rs. 4989.60 and intraday low of 4908.05. The net turnover during the day was Rs. 1642064.00.

Source : Equity Bulls

Keywords

ProcterandGambleHealth INE199A01012 InjectionsPortfolio ContractManufacturer GoaPlant Discontinue