855 Per Cent Multibagger Returns: Penny Stock Under Rs 2 Hit Upper Circuit As Board Is Likely To Announce Rights Issue On April 07
From Re 0.20 to Rs 1.91 per share, the stock gave multibagger returns of 855 per cent in 5 years.
Remedium Lifecare Limited informed the meeting of the Board of Directors of the Company will be held on Monday, April 07, 2025, at its registered office situated at Office No.9, K Raheja Prime, Marol Industrial Estate, Behind Ravi Vihar Hotel, Sagbaug Road, Marol, Andheri East, Marol Naka, Mumbai, inter alia to transact the following matters: -
- To consider and approve the number of shares to be issued on a rights basis, the issue price, rights entitlement ratio for the proposed rights issue.
- To fix the record date to ascertain the eligible shareholders for the proposed right issue and other matters and terms and conditions incidental or connected therewith.
- Any other item with the permission of the chair and the majority of directors.
Earlier, the company had entered into a significant three-year supply agreement with Aster Biotech Limited, a UK-based pharmaceutical distributor, for the provision of various Active Pharmaceutical Ingredients (APIs), Intermediates, and Specialty Chemicals, extending until January 2028. The initial year of this contract, spanning from February 2025 to January 2026, is projected to generate approximately Rs 182,70,00,000, representing substantial revenue for the company and highlighting the company's expanding international presence in the pharmaceutical supply chain.
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About the Company
Remedium Lifecare Ltd., founded in 1988, is a pharmaceutical intermediary connecting drug manufacturers with essential raw materials. They specialize in procuring and distributing active pharmaceutical ingredients (APIs) and intermediates for API synthesis. Remedium serves both innovative and generic drug companies, supplying ingredients for cholesterol, depression, asthma, and allergy treatments. Their global sourcing network enables them to acquire and supply these materials internationally.
Remedium Lifecare Ltd has a market cap of Rs 77 crore. According to Quarterly Results, the company reported net sales of Rs 38.15 crore and a net profit of Rs 0.76 crore in Q3FY25 while in its half-yearly results, the company reported net sales of Rs 140.93 crore and a net profit of Rs 4.18 crore in 9MFY25. In its annual results, the company reported total income increased by 698 per cent to Rs 4,062.80 crore and net profit increased by 504 per cent to Rs 32.72 crore in FY24 compared to FY23.
According to the shareholding pattern, the company's promoters own only a 1.11 per cent stake in the company and the maximum stake is owned by the public shareholders i.e. 98.89 per cent stake. The company's shares have an ROE of 123 per cent and an ROCE of 100 per cent. From Re 0.20 to Rs 1.91 per share, the stock gave multibagger returns of 855 per cent in 5 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.