1:10 Stock Split, Re 1/Share Dividend In 2023: Multibagger Pharma Stock Issues Update On Warrants

Small cap pharmaceuticals sector company Sigachi Industries shares hit 5% lower circuit on March 2, 2023 to settle in red at Rs 81.97 apiece on BSE. The company also issued an update on conversion of warrants and scheduled a meeting of Board of Directors on March 6, 2024.

Sigachi Industries shares gained 58% year-to-date (YTD) and zoomed 125% in last 6-months only. Check details below:

Sigachi Industries Schedules Board Meet On Conversion Of Warrants: As per the regulatory filing of the company dated March 2, 2024, "Sigachi Industries Ltd has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 06/03/2024, inter alia, to consider and approve 1. Allotment of equity shares of Re.1/- each for conversion of warrants 2. Any other item with the permission of the chair."

Sigachi Industries Shares Performance & Return: The 52-week high price of Sigachi Industries shares on BSE is Rs 95.94 apiece and 52-week low price is Rs 22.00 apiece, respectively. The company has a market capitalisation of Rs 2,651.54 crore. Sigachi Industries shares rallied 222% in last 1-year and zoomed 174% in last 2-years.

Sigachi Industries Dividend, Stock Split In 2023: The small cap pharma company split its shares in the ratio of 1:10 in 2023 and the ex-split date was fixed as October 9, 2023. It announced final dividend of Re 1 in 2023 and shares traded ex-dividend on August 31, 2023. Sigachi Industries declared 1 stock split in its history.

Sigachi Industries Financials: Sigachi Industries on January 20, 2024 declared its Q3 results. It announced a surge of 64.05% in its consolidated net profit year-on-year (YoY) to Rs 16.11 crore for the December 2023 quarter as against the net profit of Rs 9.82 crore in the corresponding quarter of last year. It announced a 64% surge in its operating profit at Rs 23 crore.

The pharma stock's consolidated revenue from operations rallied 61.47% YoY to Rs 110.95 crore for the quarter ended December 31, 2023 as compared to Rs 68.85 crore in the similar quarter last year. Its operating profit margins arrived at 20% for quarter under consideration.

Sigachi Industries About: Sigachi was incorporated in the year 1989 and established itself as one of the largest manufacturers of Microcrystalline Cellulose worldwide. With three Multilocational Facilities in Telangana and Gujarat, Sigachi has ensured supply chain reliability for its customers spread across the Globe. Its products have applications in the pharmaceutical industry, in the nutraceutical and supplement industries, the food ingredients industry and the drug formulation sector, according to its official website.

Disclaimer: The stock just highlights conversion of warrants details and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for ay losses. Please consult a professional advisor.