The shares of this pharma firm gained 2.5% to ₹7,743.85 per share on Friday after the company board fixed a record date for a bonus issue.
At 12:55 p.m., Remus Pharmaceuticals Ltd shares were trading at ₹7,678 apiece, up 1.71% from the previous close price on the national stock exchange. The company has a market capitalization of ₹1,125 crore.
According to the company’s exchange filing, the Company board fixed Thursday, June 06, 2024 as ‘Record Date’ for the purpose of determining the eligibility of Shareholders for the entitlement of issue of shares in the ratio of 3:1 which means the company would issue three bonus shares for every share owned by existing shareholders before the record date.
Remus Pharmaceuticals Limited is engaged in the marketing and distribution of active pharmaceutical ingredients (API) and finished formulations of pharmaceutical drugs, it also provides technical consulting services to various distributors for the preparation of reports on the dossiers of the products.
Remus Pharmaceuticals Ltd has demonstrated remarkable performance in the market, with its shares soaring by 38% in the past 6 months and an impressive 320% in the last 12 months.
The company boasts a diverse clientele spanning over 20 countries, ranging from Generic distributors to Multinational distributors, along with serving Hospitals and Clinics.
In terms of financial growth, the company has experienced a substantial increase, with revenue skyrocketing by 531% from ₹29 crores in Q2 FY24 to ₹183 crores in Q4 FY24. Similarly, net profit surged by 233%, jumping from ₹6 crore to ₹20 crore during the same period.
Furthermore, the company has reported robust returns, with a return on equity (ROE) of 66.1% and a return on capital employed (ROCE) of 68.8%.
Written by Omkar Chitnis
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