In Friday’s trading session, the shares of a company engaged in manufacturing pharmaceutical products surged by 5 percent to reach a new 52-week high of Rs. 68.4. This increase followed the company’s Board approval of a 2:1 bonus issue and a Rs. 50 crore fundraise.
With a market capitalisation of Rs. 74.02 crores, at 12:53 p.m., the shares of JFL Life Sciences Limited were trading in the green at Rs. 67.3, up by 3.3 percent, from the previous closing price of Rs. 65.15.
What’s the News:
According to the latest regulatory filings with the NSE, the meeting of the Board of Directors of JFL Life Sciences held on 2nd August approved the proposal of raising of funds and issue of Bonus shares.
The Board has approved the proposal of fundraising through a Rights issue, Further issue, Preferential issue of equity shares, or a combination of these methods, for an amount not exceeding Rs. 50 crore.
Additionally, the Board has recommended the issue of Bonus Shares in a 2:1 ratio, meaning shareholders will receive 2 new bonus equity shares of the face value of Rs. 10, for every 1 equity share held. The record date for this issuance will be declared in due course.
The Board also recommended a final dividend of Rs. 0.25 per equity share for the financial year ended March 31, 2024, subject to the approval of the shareholders.
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Previous News:
On July 8th, JFL Life Sciences launched 16 new products to serve the domestic market for the first time under the “Make In India” campaign. These products, carrying the tagline “Just for Life,” include tablets, capsules, gels, syrups, creams, and injections.
Financials:
The company experienced significant growth in its revenue from operations, showing a year-on-year rise of 8.7 percent from Rs. 42.83 crores in FY22-23 to Rs. 46.55 crores in FY23-24.
Similarly, its net profit increased during the same period from Rs. 2.8 crores to Rs. 3.3 crores, indicating a growth of around 17.8 percent YoY.
About the Company:
Incorporated in 2010, JFL Life Sciences Limited is engaged in the business of producing and marketing a wide range of pharmaceutical products and has manufacturing facilities with trading and related activities extending to the global market.
The product portfolio of the company consists of dry powder injections (B-Lactam), tablets & capsules (B-Lactam) solid oral dosage forms tablets and capsules (general) solid oral dosage forms, and oral rehydration solutions (ORS).
Written by Shivani Singh
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