3:1 Bonus Shares Approved: Pharma Company Below Rs 100; Check Stock Name

Remedium Lifecare Limited has informed the stock market that the 35th AGM of the company was held on Wednesday, June 26, in which the quarterly results of the last financial year have been approved. Along with this, a new member has been approved as the director of the company. In the 35th AGM, three bonus shares in the ratio of 3:1 have also been approved for the investors of Remedium Life Care Limited. At present, investors who have one equity share of Remedium Life Care Limited will get three equity shares as a bonus. With this, the authorized share capital of the company has increased from Rs 30 crore to Rs 42 crore.

Shares of Remedium Life Care Limited, which has given a return of 14136 per cent to the stock market investors from the low of 45 paise on 25 May 2018, closed at Rs 64.06 on Wednesday. The 52-week high of the shares of Remedium Life Care Limited, a micro-cap pharma company with a market cap of about Rs 646 crore, is Rs 180 while the 52-week low is Rs 63.80. In the AGM, three bonus shares of Remedium Life Care Limited in the ratio of one have also been approved.

The stock of Remedium Life Care Limited has given a bumper return of 8557 per cent to the investors from the level of 74 paise in the last 5 years. However, this stock has been weak for the last 1 year and from the lowest level of Rs 142.72 on June 27, till now the investors' capital has decreased by 55 per cent. The stock of Remedium Life Care Limited has fallen by 36 per cent.

Earlier this week, Remedium Lifecare said that it has received a multi-year supply contract from Aster Biotech, a pharmaceutical distribution company based in the United Kingdom. The contract involves the supply of various active pharmaceutical ingredients (APIs), intermediates, and speciality chemicals. The supplies scheduled between July 2024 and June 2025 alone are valued at Rs 175 crore.

Recently, the company reported a net loss of Rs 53.72 crore in the quarter ended March 2024 as against a net loss of Rs 4.78 crore during the previous quarter ended March 2023. Sales surged to Rs 1408.49 crore in Q4 FY24 from Rs 75.58 crore in Q4 FY23.

Remedium Life Care Limited is a company established in the year 1988 which acts as a middleman for drug manufacturing. Remedium Lifecare, formerly known as Roxy Exports, is engaged in trading in API intermediates- KSMs & CRMs- and various other raw materials used in API trading. It is a contract trader and a brand owner of advanced intermediates & APIs.