Micro-cap pharma stock announces 1:1 bonus share for the first time ever; don’t miss out on the record date!
Company ranks among the top 5 companies in India for providing the most extensive range of Iodine derivatives in the market
Amidst the turbulence that rocked the NSE benchmark Nifty50 index on Wednesday, one stock managed to shine bright and capture the attention of investors: Infinium Pharmachem Ltd. This micro-cap gem, listed on the NSE Emerge platform, experienced an impressive surge of over 5 per cent in its stock price, settling at Rs 357.60.
Infinium Pharmachem Ltd, a dynamic player engaged in the manufacturing of Pharma Intermediates and APIs, particularly Iodine derivatives, made a significant announcement during its recent board meeting on August 2, 2023. The company approved a remarkable 1:1 bonus issue, signaling its commitment to rewarding its shareholders. On September 13, 2023, the record date for the bonus issue will be set, and shareholders can eagerly anticipate the additional benefits. To add to the excitement, the company's Annual General Meeting is scheduled for August 28, 2023.
The bonus issue, approved by the board in the ratio of 1:1, will grant shareholders one new bonus equity share of Rs. 10 each for every one fully paid equity share of Rs. 10 each, pending approval by the members and other statutory and regulatory bodies. Additionally, the board has also given the green light to an increase in authorized capital, raising it from Rs. 10 crore to Rs. 25 crore, paving the way for further growth and expansion.
The financial performance of Infinium Pharmachem Ltd has been nothing short of impressive. The company reported a net profit of Rs. 9.49 crore for FY23, exhibiting a remarkable year-on-year growth of 55.4 per cent when compared to the net profit of Rs. 6.10 crore achieved in FY22. The revenue from operations also witnessed a healthy increase of 15.24 per cent, reaching Rs. 114.22 crore in FY23 from Rs. 99.12 crore in FY22.
Established in 2003, Infinium Pharmachem Ltd has successfully carved a niche for itself by manufacturing and supplying a wide range of superior quality Iodine derivatives & APIs. Their achievements include obtaining FDA approval for APIs manufacturing in 2015, and they have built a reputation as a premier Contract Research and Manufacturing Services (CRAMS) provider for the Pharmaceutical, Agrochemical, Nutraceutical, and Specialty Chemical industries. Infinium ranks among the top 5 companies in India for providing the most extensive range of Iodine derivatives in the market, boasting an impressive portfolio of 200+ intermediates and 7+ APIs, all designed to meet diverse industry demands and rigorous quality standards.
Mr. Sanjaykumar Patel, the visionary Managing Director of Infinium Pharmachem Ltd, expressed pride in the company's progress on its long-term growth roadmap. He highlighted the company's robust operational and financial performance, with steady growth in revenue, margins, and profitability. Sanjaykumar Patel confidently affirmed his expectations for continued growth momentum and further boosts in the coming years.
With its manufacturing plant based in GIDC Sojitra, Anand Gujarat, India, Infinium Pharmachem Ltd has earned global recognition and trust as a pharmaceutical and healthcare leader. The company's ISO 9001-2015 certification in 2017 further attests to its commitment to quality and excellence. Their strong reputation and dedication to client satisfaction have led to enduring relationships with prestigious clients, including major names like Syngene International, Dr. Reddy's Lab., Glenmark, Sun Pharma, and Sai Life sciences. The company's products are exported to over 20 countries, including the US, UK, China, Italy, and Japan, cementing their position as a global player in the industry.
Disclaimer: The following information is for informational purposes only and should not be considered as a recommendation to invest in any particular stock or security.