10:1 Stock Split: Heavy buying witnessed in this multibagger pharma stock under Rs 75; FIIs bought a 1.97 per cent stake!

From Rs 23.16 per share (52-week low) to Rs 70.39 per share, the stock gave multibagger returns of over 200 per cent.

Sigachi Industries Limited, publicly listed in NSE and BSE, is a globally recognized pharmaceutical company known for its unwavering commitment to delivering high-quality excipients, vitamin mineral nutrient blends, APIs, and O&M services. With over 33 years of industry experience, Sigachi has emerged as a trusted partner for pharmaceutical and nutraceutical companies spread across 62 countries. The company's diverse product portfolio is manufactured in 5 multilocational facilities present in Telangana, Gujarat and Karnataka which hold global standard certifications. Being headquartered in Hyderabad, Sigachi Industries Limited has subsidiaries in the US and UAE.

Earlier, Sigachi Industries Limited joined forces with iMass Investments through a new venture, Sigachi Global, targeting the UAE's food and pharma markets. Sigachi Global will hold a controlling stake for Sigachi, managing its separate business units in pharmaceuticals, food & nutrition, and operations & management, to reach USDS 54 million in revenue by 2029. This collaboration leverages each company's strengths, combining iMass/iConsult's market knowledge with Sigachi's technology to deliver superior offerings to customers across the Gulf Cooperation Council (GCC).

Today, shares of Sigachi Industries gained 12.4 per cent to an intraday high of Rs 70.39 per share from its previous closing of Rs 62.63. At the closing bell, shares of the company were trading at Rs 69.2 per share, up 10.49 per cent with a spurt in volume by more than 3.2 times on BSE. The company has a market cap of over Rs 2,200 crore and has delivered good profit growth of 45 per cent CAGR over the last 5 years.  

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The company announced stellar Quarterly Results (Q3FY24) and nine-month results (9MFY24) for the financial year 2024. According to quarterly results, revenue increased by 61.2 per cent to Rs 110.9 crore, EBITDA increased by 61.4 per cent to Rs 22.6 crore, PBT increased by 60.2 per cent to Rs 19.7 crore and PAT increased by 65.3 per cent to Rs 16.2 crore in Q3FY24 compared to Q3FY24. According to nine-month results, revenue increased by 28.4 per cent to Rs 294.8 crore, EBITDA increased by 29.7 per cent to Rs 60.3 crore, PBT increased by 19 per cent to Rs 52.5 crore and PAT increased by 16 per cent to Rs 42 crore in 9MFY24 compared to 9MFY24.

As of March 2024, Foreign Institutional Investors (FIIs) increased their stake to 2.06 per cent from 0.09 per cent in March 2023. The company ex-traded the stock split of equity shares from Rs 10 to Rs 1 on October 09, 2023. From Rs 23.16 per share (52-week low) to Rs 70.39 per share, the stock gave multibagger returns of over 200 per cent. Investors should keep an eye on this Small-Cap pharma stock.

Disclaimer: The article is for informational purposes only and not investment advice.