LIC Backed Bluechip Pharma Stock Finalizes Record Date For Dividend of Rs 4

During Friday's closing session, Sun Pharmaceutical Industries, a blue-chip pharmaceutical company, registered a market worth of Rs 2,48,049.43 Cr. With operations in more than 100 countries, Sun Pharma is the fourth-largest specialised generic pharmaceutical firm in the world. With a presence in more than 80 nations, it is the largest Indian corporation in emerging markets such as Brazil, Mexico, Russia, Romania, South Africa, and all of the primary markets in Western Europe, Canada, Australia, New Zealand, Japan, and China.

"The Company has fixed Friday, July 28, 2023, as the Record Date for the purpose of determining the Members eligible to receive final dividend of Rs. 4.00/- per equity share for FY 2022-23. The final dividend, if approved at the 31st Annual General Meeting, shall be paid on or before Friday, September 8, 2023," said Sun Pharmaceutical Industries in a stock exchange filing on July 7, 2023. The 31st AGM of the members of Sun Pharmaceutical Industries Limited will be held on Monday, August 28, 2023.

As an important notice to its shareholders, Sun Pharmaceutical Industries said informed stock exchanges on Friday that "Shareholders are requested to get their details updated with the depository for the shares held in demat form and with Link Intime India Private Limited (Registrar and Share Transfer Agent of the Company) for the shares held in physical form, so as to receive the copy of Annual Report and the Notice of 31st Annual General Meeting by email and the final dividend for FY 2022-23, directly through electronic credit."

Sun Pharmaceutical Industries has announced an equity dividend of Rs 11.5 per share, for the financial year ended March 2023. This generates a dividend yield at the current share price of Rs 1038 of 1.11%. It has a solid track record of dividend declarations during the past five years. Sun Pharmaceutical Industries Ltd. has issued 27 dividends since July 17, 2001, according to data from Trendlyne.
In comparison to a net loss of Rs 2,277 crore during the same period previous year, the company posted a consolidated net profit of Rs 1,984 crore in March 2023 quarter. The company's revenue from operations for the January through March quarter were Rs 10,930.6 crore, up 15.7% from Rs 9,446.8 crore recorded in the same quarter of FY22. The company's EBITDA during Q4FY23 stood at Rs 2,803 crore up by 19.7 per cent, compared to Rs 2,340.4 crore in Q4FY22.

On Friday, the shares of Sun Pharmaceutical Industries closed on the NSE at Rs 1,038 apiece down by 0.43% from the previous close of Rs 1,042.50. The stock made a 52-week-high of Rs 1,072.15 on (30-Jan-2023) and a 52-week-low of Rs 831.25 on (06-Jul-2022). During Q4FY23, the company reported promoter shareholding of 54.48%, FIIs stake of 16.88%, DIIs stake of 19.18%, Govt stake of 0.06% and public stake of 9.38%. As per the shareholding pattern of Sun Pharmaceutical Industries for January to March 2023 quarter, insurance giant Life Insurance Corporation Of India held fully paid up equity shares of 7,86,98,556 or 3.28% stake in the company.