Nureca Ltd, a player in the home healthcare and wellness sector, has signed a Distribution Agreement with Zepto, the Indian quick-commerce platform known for delivering groceries and other essentials within 10 minutes. This partnership will make Nureca's products available on Zepto's platform, expanding its reach to a larger consumer base across India.
While the volume of orders from this partnership currently does not meet the materiality threshold set by the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Nureca anticipates that sales on Zepto may exceed this threshold in the coming quarters as business discussions continue.
Nureca has not disclosed the financial details of the agreement due to business confidentiality.
Also Read | Zepto's cash burn zooms to Rs 250 crore a month on rising capex, closes Rs 2,500 crore funding round
Nureca recently reported a net sales figure of Rs 31.2 crore for the quarter ending September 2024, down 0.5 percent from Rs 31.4 crore in September 2023. The company also reported a quarterly net loss of Rs 48 lakh for the same period, a significant improvement from Rs 2.89 crore in September 2023.
Nureca's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) stood at Rs 80 crore in September 2024 down 82.4 percent from Rs 4.59 crore in September 2023.
On November 14, shares of Nureca closed nearly 4 percent higher at Rs 278. However, the stock has declined 34 percent year-to-date, underperforming the Nifty 50, which gained over 8 percent during the same period. The stock had delivered positive returns from June to September, but saw a 19 percent decline in October. So far, in November, it is down by another 8 percent.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
