Penny Stock Below Rs 2 To Consider Buyback, Dividend, Stock Split & Bonus Shares

Earum Pharmaceuticals is a micro cap company that recorded a market cap of Rs 36.82 Cr during Friday closing session. The company involves the marketing, selling, and distribution of a wide range of pharmaceutical formulation products. The Board of Directors of the company is going to consider 4 corporate actions next week covering share buyback, dividend, stock split and bonus shares.

"The meeting of the Board of Directors of the Company is rescheduled and will be held on Friday, 21st July, 2023 at 11:00 A.M. at the Registered Office of the Company situated at A-1106, Empire Business Hub, Near AUDA Water Tank, Science City Road, Sola, Ahmedabad - 380060, to discuss and consider inter alia:

• The proposal for Buyback of Equity Shares of the Company.

• The proposal to recommend the declaration of Final Dividend for the F.Y. 2022-23.

• The proposal of Issue of Bonus Equity Shares to the existing equity Shareholders of the Company.

• The proposal of sub-division of equity shares of the Company.

• To finalize the date, day, time and venue of Annual General Meeting of shareholders for the F.Y. 2022-23," said Earum Pharmaceuticals in a stock exchange filing on Friday.

The company reported a revenue of Rs 1.53 Cr in March 2023 quarter and a net profit of Rs 0.26 Cr. Its EPS stood at Rs 0.04 in Q4FY23. Its revenue stood at Rs 14.09 Cr in the year ended FY23 while net profit was Rs 1.98 Cr in 12MFY23.
On Friday the shares of Earum Pharmaceuticals closed on the BSE at Rs 1.49 apiece down by 3.87% from the previous close of Rs 1.55.

The penny stock made a 52-week-high of Rs 3.64 on (19/07/2022) and a 52-week-low of Rs 1.45 on (07/07/2023), indicating that at the current market price the stock is trading 59.06% below the 1 year high and 2.75% above the 1 year low. During Q1FY24, the company recorded a public shareholding of 100%. The stock has a price to earning ratio of 18.1, lower than its sector PE ratio of 42.6 as per the data of Trendlyne.