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Medico Remedies Fixes Record Date For Bonus Issue; Shares Hit 52-Week High


Medico Remedies Ltd has announced that the Company has set Wednesday, November 17, 2021 as the record date for determining whether stockholders are eligible to receive bonus shares.


Shares of Medico Remedies rose on Monday to hit a 52-week high at Rs 510 on NSE at 10.37 am IST. Medico Remedies Ltd., founded in 1994, is a Small Cap business in the Pharmaceuticals sector with a market capitalization of Rs 209.91 crore.

Medico Remedies Fixes Record Date For Bonus Issue; Shares Hit 52-Week High

A bonus issue is an offer to existing shareholders of free additional shares. As an alternative to paying dividends, a company may decide to distribute additional shares. For every two shares held, a firm may offer one bonus share.

The company's yearly sales growth of 36.02 percent surpassed its three-year compound annual growth rate (CAGR) of 25.55 percent.

In the fiscal year ending March 31, 2021, the company spent less than 1% of its operating revenues on interest charges and 3.68 percent on staff costs.

The record date for determining shareholders' eligibility for bonus shares in the proportion of 3 (three) fully paid-up equity shares for every 1 (one) fully paid-up equity share owned, subject to shareholder approval via postal ballot.


Furthermore, according to regulatory filings, postal ballot voting will close on Tuesday, November 9, 2021, and the voting results will be announced by Thursday, November 11, 2021, at the latest.

In October, the board of directors approved an increase in the Company's authorised share capital from Rs 4,500,000 to Rs 4,500,000. 10/- each equity share to a total of 17,00,00,000 divided into 17,00,000. By creating an additional 12,50,000 equity shares at a price of ten rupees each, the company will be able to issue equity shares worth ten rupees apiece. Equity Shares of Rs 10/- each and every future change to the Company's Memorandum of Association, subject to the approval of the Company's shareholders.

Market Cap (Rs. in Cr.)209.91
Earning Per Share (EPS TTM) (Rs.)6.24
Price To Earnings (P/E) Ratio81.01
Book Value Per Share (Rs.)71.98
Price/Book (MRQ)7.03
Price/Earning (TTM)49.47
ROCE (%)7.66
PAT Margin1.84

Read more about: bonus stocks to buy
Story first published: Monday, November 8, 2021, 10:50 [IST]
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