"BAL PHARMA" got approval to supply to Australia.

Bal Pharma slipped 0.75% to Rs 26.45 at 14:20 IST on BSE even as the company got approval to supply gliclazide, an anti-diabetic bulk active pharma ingredient, to pharma manufacturers in Australia.

The stock hit a high of Rs 27.75 and a low of Rs 25 so far during the day. The stock had a 52-week high of Rs 55.50 on 1 January 2008 and a 52-week low of Rs 24.20 on 28 March 2007.

The company’s current equity is Rs 10.45 crore. Face value per share is Rs 10.

The current price of Rs 26.45 discounts its Q3 December 2007 annualized EPS of Rs 4.40, by a PE multiple of 6.01.

Bal Pharma’s net profit rose 35.3% to Rs 1.15 crore on 27.7% growth in net sales to Rs 23.49 crore in Q3 December 2007 over Q3 December 2006.

Australian regulatory body Therapeutic Goods Administration has approved Bal Pharma’s active pharma ingredient (API) facility in Bangalore. With this approval, the company gets direct access to all Australian and New Zealand pharmaceutical manufacturers as an API supplier.

The company's principal activity is to manufacture pharmaceutical products. The group also manufactures fluids, bulk drugs, intermediates, tablets, capsules and liquid orals/externals, ointments, bulk drugs and ophthalmic products.