10:1 Stock Split: Company Intent To Acquire 100 Per Cent Of Its Singapore Subsidiary & Century India Opportunity Fund Pc Bought 16 Lakh Shares
The stock gave multibagger returns of 616.5 per cent from its 52-week low of Rs 5.82 per share.
On Monday, shares of Sudarshan Pharma Industries Ltd plunged 2 per cent to Rs 41.70 per share from its previous closing of Rs 42.55 per share. The stock’s 52-week high is Rs 46 per share while its 52-week low is Rs 5.82 per share.
Sudarshan Pharma Industries Limited has announced its intent to acquire 100 per cent of Sudarshan Pharma Industries Private Limited, a Singapore-based company engaged in the wholesale trade of various goods, including industrial chemicals. This acquisition, valued at SGD 10,000, is aimed at expanding the company's operations in Singapore and neighbouring regions. As the target entity is a wholly-owned subsidiary of Mr Amar Ashok Vyas, the acquisition does not fall under related party transactions. No significant regulatory approvals are required, and the consideration will be paid in cash.
Recently, Century India Opportunity Fund pc bought 16,00,000 shares of Sudarshan Pharma Industries Ltd at Rs 41.97 per share aggregating to Rs 6,71,52,000 via the open market.
On November 22, 2023, the shares of the company ex-traded sub-division /stock split of the company’s 1 (one) equity share having a face value of R 10 each fully paid-up, into 10 equity shares of the company having a face value of Re 1 each fully paid-up.
Furthermore, the company successfully acquired a majority stake in Ishwari Healthcare Private Limited, acquiring 2,09,100 equity shares, which constitutes 51% of the company's total paid-up equity share capital. This acquisition has resulted in Ishwari Healthcare becoming a subsidiary of the company. Ishwari Healthcare, a private limited company, is primarily involved in the manufacturing, processing, and distribution of a wide range of medical and surgical instruments, equipment, and devices. Their operations encompass various aspects of the healthcare industry, including research, development, manufacturing, marketing, and distribution.
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Sudarshan Pharma Industries Limited (SPIL), established in 2008 and headquartered in Mumbai, is a prominent contract manufacturer of generic formulations. Operating across diverse segments, including speciality chemicals, intermediates, APIs, pharmaceutical and formulation generics, and bulk supply, SPIL caters to a wide range of institutions and healthcare organizations. Beyond its contract manufacturing services, SPIL has ventured into branded products through its Vimac Healthcare division. A significant portion of its product portfolio, consisting of 56 out of 96 items, is registered under the "R" trademark. Furthermore, SPIL collaborates with renowned Indian companies and institutional clients, offering contract manufacturing services for pharmaceutical formulations and medicines.
The company has a market cap of Rs 1,003.55 crore and has delivered good profit growth of 37 per cent CAGR over the last 5 years. The stock gave multibagger returns of 616.5 per cent from its 52-week low of Rs 5.82 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.