230% Return In 1 Yr, Multibagger Pharma Stock Sets Record Date For 1:1 Bonus Shares

Veerhealth Care is a micro-cap pharma company having a market cap of Rs 40.50 Cr. The multibagger stock has announced record date for 1:1 bonus shares which market watchers can take into consideration.

"We wish to inform you that pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed 22nd September, 2023 as the Record Date for the purpose of ascertaining the eligibility of shareholders entitled for issuance of Bonus Equity Shares of the Company in the proportion of 1 (One) Equity Share of Rs. 10/- each for every 1 (One) Equity Share held of Rs. 10/- each," said Veerhealth Care in a stock exchange filing.

The board also authorised modifying the company's memorandum of association and raising the permissible share capital from Rs. 21 crore to Rs. 31 crore. For expansion plans, new product launches and installation of new manufacturing lines, the company concluded a preferential offering of 30.65 lakh equity shares worth Rs. 10 each in March 2023 at a price of Rs. 19.25 per share as per PTI report.

On a standalone basis, the company recorded revenue from operations of Rs 3.58 crore in the June 2023 quarter up 25.38% from Rs. 2.86 crore in the June 2022 quarter. Its net profit was Rs. 0.34 crore in the first quarter of FY24, up 269.55% from Rs. 0.09 crore in the same quarter of FY23, and its EBITDA is Rs. 0.58 crore, up 123.08% from Rs. 0.26 crore. Veerhealth Care's earnings per share (EPS) rose from Rs. 0.12 in June 2022 to Rs. 0.33 in June 2023.

On Wednesday, the shares of Veerhealth Care Limited opened on the BSE at Rs 42.40 apiece and dipped to Rs 40.50 during the morning deals logging a fall of 4.48% on an intraday basis. The stock made a 52-week-high of Rs 44.00 (11/09/2023) and a 52-week-low of Rs 11.65 (14/09/2022), indicating that at the current market price, the stock is trading 247.63% above the 1-year low and 7.95% below the recent 1 year high. In the last 5 years, the stock has generated a multibagger return of 315.38% and in the last 3 years, the stock has given a multibagger return of 407%. In the last 1 year, the stock has given a multibagger return of 230.61% and on a YTD basis, it has gained 69.46% so far in 2023. In Q1FY24, the company recorded promoters shareholding of 30.76% and public stake of 69.24%.