Share price of this multibagger pharma stock hit a 2 percent upper circuit at Rs. 307.3 on BSE in the trading session of Monday, compared to its previous close of Rs. 301.3, after the company board approved the issuance of Bonus Shares.
With a market capitalisation of Rs. 336.4 crores, the company has delivered multibagger returns of about 479.8 percent in the last one year and nearly 125.3 percent in the last six months. So far in 2024, it has given multibagger returns of around 153.4 percent.
According to recent regulatory filings with the BSE, the Board of Shukra Pharmaceuticals Limited approved the issuance of Bonus shares at a board meeting on 29th February, and the company’s shareholders also approved the issuance of bonus shares via postal ballot on 3rd April.
As per the filings of 29th February, the Board considered and approved the issue of bonus shares in the proportion of 3:1.
This means that, 3 fully paid-up bonus equity shares of Rs. 10 each for every 1 fully paid-up equity share of Rs. 10 each held by the Members of the Company as on the Record Date, subject to approval of Members of the Company via Postal Ballot.
The Board of Directors has fixed Saturday, that is, April 20, 2024, as the record date, for determining the eligibility of shareholders entitled to the issue of Bonus Shares.
Once allotted, the Bonus Shares will rank equally with the existing equity shares and have the same rights. They will also be eligible to fully participate in any suggested and declared dividends and other corporate actions after the allocation of the new equity shares.
In terms of financials, the revenue from operations of Shukra Pharma increased by 721.3 percent YoY from Rs. 2.3 crore in Q3 FY22-23 to Rs. 18.89 crore in Q3 FY23-24, accompanied by an increase in net profit by 31,300 percent to Rs. 9.42 crore in Q3 FY23-24 from Rs. 0.03 crore in Q3 FY22-23.
Shukra Pharmaceuticals Limited is engaged primarily in the business of manufacturing and marketing of pharmaceutical products along with doing laboratory testing.
Written by Shivani Singh
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