Multibagger Specialty Chemical Stock To Mull 1st Ever Stock Split On September 30; Scrip Zooms 400% YTD

Based in Mumbai, India, Sudarshan Pharma Industries is a well-known pharmaceutical manufacturer and company. The corporation operates in two different industries: the chemical sector (speciality chemicals) and the pharmaceutical industry. There are several uses for specialty chemicals and intermediates in the adhesive, paint, food, and pharmaceutical industries. The company has made a name for itself in foreign and Indian markets. The UK, Australia, Uzbekistan, Syria, Oman, Taiwan, and the MENA region have all received the products it exports.

On Wednesday, the shares of Sudarshan Pharma Industries were trading 4.63% higher at Rs 422.85 apiece during the morning deals after the company declared that the Board of Directors will meet on 30th September to discuss the stock split proposal.

"In terms of Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the meeting of the Board of Directors of the Company is scheduled to be held on Monday, September 30, 2024, inter-alia to transact following businesses: 1. the proposal for sub-division / split of Equity Shares of the Company presently having a face value of Rs. 10/- each in such manner as the Board may determine; 2. Alteration in the Capital clause of Memorandum of Association of the Company subsequent to above decision; and 3. seek members' approval for the aforesaid items In addition to the items listed herein above, the Board may consider any other matter with the permission of the Chairman," said Sudarshan Pharma Industries in a stock exchange filing.

"The proposed Board Meeting is scheduled at the closure of the current quarter, and window closure associated with this meeting overlaps with the stipulated half-yearly results related window closure, the Trading Window for dealing in securities of the Company is being closed with immediate effect and shall remain closed till 48 hours after the declaration of Un-audited Financial Results for the six months ended 30" September, 2024 for all Promoters / Promoter Group, Directors, KMPs, Designated Person(s), Connected Person(s) / Insiders and their immediate relatives as covered under the Code," the company further informed stock exchanges.

The company's business showed consistent development, with total revenue for the 2023-24 fiscal year coming in at Rs. 46,614.68 lakh. In comparison to Rs. 703.67 Lakhs in the Financial Year 2022-2023 and at Rs. 1,145.53 Lakhs for the Financial Year 2023-2024, the company declared the net profit.

"The remote e-voting period begins on Friday, 27th September, 2024 at 9:00 a.m. and ends on Sunday, 29th September, 2024 at 5:00 p.m. The remote e-voting module shall be disabled by NSDL for voting thereafter. The Members, whose names appear in the Register of Members / Beneficial Owners as on the record date (cut-off date) i.e. Monday, 23rd September, 2024 may cast their vote electronically. The voting right of shareholders shall be in proportion to their share in the paid-up equity share capital of the Company as on the cut-off date, being Monday, 23rd September 2024," the company said in a statement.

Sudarshan Pharma Industries' share price has jumped from Rs 84.81 to the current market price of Rs 418 in 1 year resulting in a multibagger return of 392.87% and on a YTD basis the scrip has gained 419.71% so far in 2024.