120% Dividend, Rs 5,000 Cr Fundraise: Torrent Pharma Q4 Net Zooms 57%, Rs 6 Dividend

Large cap company operating in pharmaceuticals sector Torrent Pharmaceuticals today declared a jump of 57% in its consolidated net profit for the quarter ended March 2024 to Rs 449 crore as against Rs 287 crore net profit announced in the year ago period. The Board of Directors of the pharma giant recommended a final dividend of Rs 6/- (120%) per equity share of Rs 5 each. The Board fixed June 21, 2024 as the record date.

Last trading price of Torrent Pharmaceuticals share on BSE is Rs 2612.05 per share with intraday fall of 2.96%. The company has a market capitalisation of Rs 88,399.67 crore. Torrent Pharmaceuticals shares gave return of 55% in last 1-year. More details below:

Torrent Pharmaceuticals Recommends Final Dividend: As per the BSE filing of Torrent Pharmaceuticals dated May 24, 2024, "recommended to the members a final dividend of Rs 6/- (120%) per equity share of Rs 5 each. The final dividend amount, if declared by the Shareholders, is proposed to be paid / dispatched on or around 31st July, 2024. Earlier an interim dividend of Rs 22/- (440%) per equity share was paid during the last quarter."

Torrent Pharmaceuticals Sets Record Date For Dividend: The BSE filing added, "the Company has fixed Friday, 21st June, 2024 as the Record Date for the said purpose. The dividend, if declared, shall be payable to those shareholders whose name appears on the Register of Members or on records of National Securities Depositories Limited or Central Depositories Services (India) Limited as beneficial owners as on said Record Date."

Fundraise Recommended: The board also recommended to the members to obtain enabling approval for issuance of Equity Shares including Convertible Bonds / Debentures through Qualified Institutional Placement (QIP) and or any other modes for an amount not exceeding Rs 5,000 crores in the upcoming Annual General Meeting of the Company.

Torrent Pharmaceuticals Q4: Torrent Pharmaceuticals declared a surge of 10% in the revenue to Rs 2745 crore for the quarter ended March 2024 as against Rs 2452 crore declared in the similar quarter of last year. The company's EBITDA surged 21% to Rs 883 crore for the quarter under review. The company announced that India's revenues came at Rs 1,380 crores, up 10% YoY. As per AIOCD secondary market data, IPM growth for the quarter declared at 9%. The pharma company's chronic business surged 14% vs IPM growth of 12%.

Torrent Pharmaceuticals Stock Performance & Return: The 52-week high price of Torrent Pharmaceuticals shares on BSE is Rs 2782.00 apiece (as on 03/05/2024) and 52-week low price is Rs 1684.50 apiece (as on 25/05/2023). Torrent Pharmaceuticals shares gave return of 14% year-to-date, soared 25% in last 6-months, and surged 102% in last 2-years, and gave return of 242% in last 5-years.

Disclaimer: The stock highlights the dividend, Q4 and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.