Are You Eligible For Rs 5/Share Dividend From Zero Promoter Pledge Pharma Stock?

A small-cap company in the pharmaceutical industry is IOL Chemicals and Pharmaceuticals Ltd. One of the leading producers of speciality and pharma API chemicals worldwide is IOL Chemicals and Pharmaceuticals Limited (IOLCP). Along with an interim dividend, the firm has released its financial results for the quarter that ended on December 31, 2023. Let's examine whether you qualify for this Zero promoter pledge pharma stock's dividend distribution.

IOL Chemicals and Pharmaceuticals Dividend

The Board of Directors have "Declared an Interim Dividend of Rs. 5/- (50%) per Equity Share of Face Value Rs.10/- each for the Financial Year 2023-24. Fixed 16" February 2024 as the Record Date to determine the names of the equity shareholders, who shall be entitled to receive the above said Interim Dividend. The payment of the Interim Dividend shall be made to the eligible shareholders within 30 days of declaration of dividend," said the company in a stock exchange filing.

IOL Chemicals and Pharmaceuticals Financials

For the third quarter that ended on December 31, 2023, pharmaceutical giant IOL Chemicals and Pharmaceuticals Ltd. recorded a 4.1% year-on-year (YoY) drop in net profit at Rs 23.2 crore. IOL Chemicals and Pharmaceuticals reported a net profit of Rs 24.2 crore for the same period of the previous fiscal, according to a regulatory filing from the company. Compared to the same time in the previous fiscal year, when it was also Rs 528.8 crore, the business's revenue from operations was unchanged in the quarter under review. In comparison to Rs 49.7 crore during Q3FY23, EBITDA climbed 6.4% to Rs 52.9 crore in Q3FY24. EBITDA margin reached 10.0% in the third quarter of the current fiscal as compared to 9.4% in the year-ago quarter.

IOL Chemicals and Pharmaceuticals Share Price Target

IOL Chemicals is bearish but also oversold on the Daily charts with strong support at 396. A Daily close above resistance of 432 could lead to a target of 470 in the near term, said AR Ramachandran from Tips2trades.