Cancer Drug Manufacturing Hit by Platinum Price Surge Affecting Key Medicines 11 hrs ago Today
Cancer drug manufacturing has become economically unviable due to surging platinum prices, affecting production of essential medicines like carboplatin, oxaliplatin, and cisplatin. Major pharmaceutical companies including Dr. Reddy's Laboratories, Sun Pharmaceutical Industries, and Aurobindo Pharma are impacted by this challenge. The price surge of platinum, a critical component in these cancer treatment compounds, is forcing companies to reassess the viability of manufacturing these life-saving medications.
Platinum Industries Reports Strong Q1 Results with 19.8% Revenue Growth
Platinum Industries Limited announced robust Q1 financial results with consolidated revenue up 19.8% YoY to Rs. 1,153.82 million and PAT rising to Rs. 130.76 million. The company appointed Anand Shankar Mahadware as Strategy Business Director for Innovation and New Product Development. A fire incident at the subsidiary's Palghar plant has temporarily halted operations. The company has utilized Rs. 932.68 million of its IPO proceeds for various expansion and working capital purposes.
08Aug 25
Platinum Industries Launches Commercial Production at New Palghar Facility
Platinum Industries Limited has started commercial production at its new manufacturing facility in Palghar, Maharashtra. The facility, which began operations on August 8, 2025, is currently in Phase 1, focusing on CPVC Additives with an annual production capacity of 12,000 units. This expansion fulfills a key objective from the company's IPO. Additional phases are expected to be completed by December 31, 2025. The company has also scheduled a board meeting for August 14, 2025, to approve Q1 financial results.
Platinum Industries reported Q4 FY results with revenue growth of 20.11% YoY to ₹965.10 crore. However, profitability declined significantly with EBITDA falling 45.84% to ₹81.83 crore and net profit decreasing 40.07% to ₹63.65 crore. EBITDA margin contracted to 8.48% from 18.80% last year. Sequential performance also showed a 45.36% drop in net profit compared to the previous quarter.