Symbiotec Pharmalab hit a day high of Rs 1,472.70, up about 16%, after the firm signed a 10-year protein deal and posted higher Q2 profit.

Symbiotec Pharmalab Limited told exchanges on 6 November that it has signed a 10-year agreement with a European alternative-protein company.

It is a take-or-pay deal, which means the buyer commits to paying for the reserved capacity whether it uses it or not.

The partner is not named. Symbiotec has set aside dedicated space at its Ujjain campus in Madhya Pradesh for the full term.

The process works a bit like brewing. Engineered microbes grow in large tanks and make proteins that usually come from animals.

Production will start at the existing Ujjain plant, which has four fermentation tanks of 100,000 litres each.

A dedicated plant with several hundred thousand litres of capacity is meant to follow, and contract options could push the programme into millions of litres.

Symbiotec did not disclose the contract value, citing confidentiality. The filing says it is not a related-party deal.

The company posted its September quarter numbers a day earlier.

Consolidated revenue rose 43% to Rs 280 crore and profit after tax jumped 169% to Rs 52 crore compared with the same quarter last year, helped by milestone income from its injectables business.

The profit figure leaves out about Rs 3 crore of one-time IPO costs.

Management has said initial manufacturing for the European programme should begin in the fourth quarter of FY27, which runs from January to March 2027.

Symbiotec already holds a 10-year take-or-pay agreement with a US-based alternative-protein player and a five-year one for insulin drug substance.

At 10:29 am, it’s trading at Rs 1,463.00 on NSE, up by 191.50 points or 15.06% from the previous close of Rs 1,271.50.

The day high of Rs 1,472.70 is its highest since the 1 September listing. Over the past month, the stock has gained 27.46%.

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