Large Cap Pharma Stock Sets Record Date For Stock Split: Do You Own?

JB Chemicals & Pharmaceuticals Ltd is a large-cap pharma company and is among the top 3 manufacturers of lozenges globally. The stock opened higher today on the BSE at Rs 2884.15 after the company announced record date for stock split.

"Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed September 18, 2023 as record date, to ascertain eligibility of the beneficial owners/shareholders of the Company for the purpose of Split/ SubDivision of 1 equity share of Rs. 2/- each into 2 equity shares of Re. 1/- each," said JB Chemicals in a stock exchange filing.
The firm reported a net profit of Rs 142 crore for the first quarter that ended June 30, 2023, up 35% year on year (YoY), from Rs 105 crore in the same quarter of FY23. During Q1FY24, total revenue was Rs 896 crore, up 14% from Rs 785 crore during the same period in the previous year. In Q1FY24, EBITDA grew by 28% to Rs 243 crore from Rs 190 crore in Q1FY23. In the reporting quarter, EBITDA margin was 27.1 percent, up from 24.2 percent in the same period of the prior fiscal year.

On Wednesday, the shares of JB Chemicals Pharmaceuticals opened on the BSE at Rs 2884.15 apiece and while writing this copy the scrip was trading at Rs 2855.55 with an upside gap of 0.15%. The stock made a 52-week-high of Rs 2,935.00 on (28/08/2023) and a 52-week-low of Rs 1,758.60 on (30/08/2022). During Q1FY24, the company reported promoters shareholding of 53.91%, FIIs stake of 9.53%, DIIs stake of 18.65%, and public stake of 17.90%.