1:10 Sub-Division of Specialty Chemical Stock: Record Date To Be Declared; BUY/SELL?

Leading pharmaceutical manufacturer Sudarshan Pharma is headquartered in Mumbai. In 2016, the company changed its name to "Sudarshan Pharma Industries Limited" (SPIL) and became public. Speciality chemicals and the pharmaceutical sector are two areas in which SPIL has broadened its operations. In addition to these operations, the company also engages in contract manufacturing, outsourcing, and the delivery of generic pharmaceutical formulations and medications to hospitals, government agencies, non-profit organisations, and healthcare facilities.

Sudarshan Pharma Industries Stock Split

The Board of Directors considered and approved "Sub-division / split of company's 1 (one) equity share having face value of Rs.10/- (Rupees Ten only) each fully paid-up, into 10 (Ten) equity shares of the Company having face value of Re.1/- (Rupee One only) each fully paid-up, subject to the approval of shareholders and such other approvals as may be required," said the company in a stock exchange filing.

In order to enhance the liquidity of the company's shares and to make it more affordable for small investors and also to broaden the company's investor base, the above stock split has been declared, said Sudarshan Pharma Industries in a stock exchange filing.

Sudarshan Pharma Industries Financials

The company reported a net sales of Rs 4,6354 mn in FY24 which was Rs 4,613.3 mn in FY23. Its net expenses were Rs 4,407.3 mn in FY24 as against Rs 4,466.4 mn in FY23. Sudarshan Pharma Industries said in FY24 its EBITDA reached Rs 228.1 mn as compared to Rs 146.9 mn in FY23. The company posted a net profit of Rs 114.5 mn in FY24 as against Rs 70.4 mn in FY23.

Sudarshan Pharma Industries Share Price Target

"Sudarshan Pharma stock price is overbought and bearish on the Daily charts with next resistance at 427. Investors should be booking profits at current levels as a Daily close below support of 398 could lead to a target of 351 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

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