Re 1/Share Dividend, 1:10 Sub-Division: Pharma Co Allots Equity Shares To Warrant Holders

Small cap company operating in pharmaceuticals sector, Sigachi Industries shares declined 3.74% to settle at Rs 70.17 apiece on Wednesday, March 6, 2024. Sigachi Industries shares tanked 16.72% in last 1-week and 9.88% in last 1-month. However, the scrip rallied 94% in last 6-months. The company's market capitalisation is Rs 2269.84 crore. Check details below:

Sigachi Industries Allots Equity Shares To Warrant Holders: As per the regulatory filing of the company dated March 6, 2024, "Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform the Exchanges that the Board of Directors of Sigachi Industries Limited at its meeting held today, i.e. Wednesday, 06.03.2024 at 10:00 AM has considered and approved inter alia the following: 1. Allotment of 47,18,080 equity shares of Re. 1/- each to non-promoters of 47,18,080 (pre split - 4,71,808) warrants at an issue price of Rs. 26.1/- per share."

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. Sigachi Industries shares gained 36% year-to-date, soared 178% in last 1-year and zoomed 140% 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.

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