5:1 Stock Split: After Ex-Split, Pharma Share Froze At 10% Upper Circuit, Plans Acquisition Ahead

Remedium Lifecare share price traded strongly on its ex-split day, frozing at its 10% upper circuits. Not just that the company also announced its plan to acquire a manufacturing facility for producing intermediates. On February 23, Remedium adjusted its share price in the ratio of 5-to-1.

Remedium Lifecare Share Price:

Remedium Lifecare's share ended at Rs 142.05 apiece on its ex-split day which is February 23. This was the stock's 10% upper circuit. It also meant that Remedium on its ex-split day, did not see sellers but only buyers.

After adjusting to the stock split, Remedium's 52-week high and low are at Rs 179.66 apiece and Rs 8.38 respectively.

From its 1-year low, Remedium is currently trading higher by 1,595.10%.

Remedium Lifecare Stock Split:

Remedium had fixed February 23, 2024, as the record date for shares sub-division having face value of Rs 5 each to Rs 1 each. On the record date, the company determined eligible shareholders for the latest stock split.

This is the second stock split in less than six months by Remedium. Earlier, last year, Remedium shares turned ex-split on September 1, 2023, for a shares sub-division to the tune of 1:2. The company's stock split in the ratio of 1:2 meant that --- one existing equity share having a face value of Rs 10 each -- was sub-divided into two equity shares having a face value of Rs 5 each.

The purpose of the split is to enhance the liquidity in the capital market, to widen the shareholder base and to make shares affordable/accessible to retail investors in the stock market.

Following this, Remedium has received NEW ISIN from CDSL and NSDL pursuant to Subdivision/ Stock Split of Face Value of the Equity shares from Rs. 5/- each to Re. 11- each. The New ISIN of the Company is INE549S01036 and Subdivision/ Stock Split of Equity Shares will take effect under the New ISIN.

Remedium Lifecare Board Meeting:

On Friday, Remedium also announced that the meeting of the Board of Directors of the Company is scheduled to be held on Thursday, March 07, 2024, inter alia to consider the acquisition of a manufacturing facility, Near Hyderabad, producing intermediates for the Pharmaceutical Industry.

Remedium Lifecare Bonus Share:

Remedium has also rewarded investors with bonus shares in the ratio of 9:5 in September last year. Accordingly, the Company issued the company nine bonus equity shares having a face value of Rs 10 each against every existing five equity shares having a face value of Rs 5 per share.

Remedium has not declared any dividends.

Remedium Lifecare Earnings:

In the nine-month period of FY24, the company's net profit of Rs 86.45 crore versus Rs 10.21 crore in the corresponding period of the previous year. Q3 net profit was at Rs 68.77 crore, rising by multi-fold from Rs 1.52 crore in Q3FY23 and Rs 6.52 crore in Q2FY24.

Revenue in 9MFY24 stood at Rs 2,633.21 crore, surging by multi-fold from Rs 434.25 crore in 9MFY23. Q3FY24 revenue also skyrocketed to Rs 1,834.17 crore compared to Rs 176.47 crore in Q3FY23 and Rs 468.56 crore in Q2FY24.

Remedium Lifecare is engaged in the trading of pharmaceutical products and various raw materials used in the pharmaceutical industry. With the Remedium Lifecare entered the Bombay Stock Exchange (BSE). The stock trades under the small-cap basket.