10:1 stock split in FY24: Multibagger pharma stock under Rs 70 zooms over 9 per cent in just 1 day with 8 times spurt in volume; Keep under the radar!
From Rs 29.32 per share (52-week low) to Rs 65.85 per share, the stock gave multibagger returns of 124.6 per cent.
Today, shares of Sigachi Industries gained 9.84 per cent to an intraday high of Rs 65.85 per share from its previous closing of Rs 59.95 with a spurt in volume by more than 8 times on BSE. The company has a market cap of over Rs 2,100 crore and has delivered good profit growth of 45 per cent CAGR over the last 5 years. The company has not made any significant announcements of late. Hence, the rally in the share price could be driven purely by the market forces.
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.
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The company announced stellar Quarterly Results (Q4FY24) and annual results (FY24) for the financial year 2024. According to quarterly results, revenue increased by 43.8 per cent to Rs 104.13 crore PBT increased by 66.6 per cent to Rs 17.21 crore and PAT increased by 114.6 per cent to Rs 15.17 crore in Q4FY24 compared to Q4FY23. In its annual results, revenue increased by 32.1 per cent to Rs 398.96 crore PBT increased by 28.1 per cent to Rs 69.77 crore and PAT increased by 31.5 per cent to Rs 57.27 crore in FY24 compared to FY23. The Board also announced Rs 0.10 per share as a dividend for FY24.
The company ex-traded the stock split of equity shares from Rs 10 to Rs 1 on October 09, 2023. From Rs 29.32 per share (52-week low) to Rs 65.85 per share, the stock gave multibagger returns of 124.6 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.
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