Kilitch Drug India Ltd's subsidiary wins tender in Ethiopia

Kilitch Drug (India) Limited, (BSE CODE:524500, NSE CODE: KILITCH), a multinational pharmaceutical company based in Mumbai, has announced that its subsidiary, Kilitch Estro Biotech PLC, has secured a significant tender issued by the Ethiopian Pharmaceutical Supply Service of the Federal Democratic Republic of Ethiopia having value of approx. USD 9.13 million. This tender win marks a notable achievement for the company not only because of this tender but also it will definitely repeat as the Ethiopian Pharmaceutical Supply Service has planned to purchase injectable from local manufacturer.

The contract awarded to Kilitch Estro Biotech PLC entails the supply of pharmaceuticals with an order size amounting to USD 9.13 million. The contract is executable within a timeline of six months from the receipt of the order, highlighting the efficiency and capability of Kilitch Drug (India) Limited's subsidiary in fulfilling such large-scale contracts.

This accomplishment further solidifies Kilitch Drug's position in the pharmaceutical industry, showcasing its ability to secure substantial contracts and expand its presence in international markets.

Commenting on the receipt of the order Mr. Mukund Mehta, Managing Director of Kilitch Drug (India) Limited said, "It is a significant achievement for the company. Securing an order from a government entity in Ethiopia represents a milestone moment, opening doors for Kilitch Drug to engage in government contracts, which speaks volumes about the quality and reliability of our products and supply chain. We anticipates recurring orders from The Federal Democratic Republic of Ethiopia.

Receipt of this order strengthens Kilitch Drug's presence in Ethiopia and positioning the company to capture a larger share of the Ethiopian market."

Shares of Kilitch Drugs (India) Limited was last trading in BSE at Rs. 423.45 as compared to the previous close of Rs. 406.40. The total number of shares traded during the day was 13736 in over 769 trades.

The stock hit an intraday high of Rs. 426.70 and intraday low of 408.50. The net turnover during the day was Rs. 5775234.00.

Source : Equity Bulls

Keywords

KilitchDrugsIndia INE729D01010 KilitchEstroBiotechPLC Tender Ethiopia