Ajanta Pharma shares fell nearly 2% Thursday’s trading session is the record date for issue of bonus shares worth Rs 1,197 on BSE. Pharma stock started trading ex-bonus on Wednesday, June 22.
The Board approved issuance of Bonus Equity Shares in the ratio of 1:2 on 10th May, 2022 i.e. in the ratio of 1 share. 2 each for 2 shares of 2 each and set Thursday, June 23, as the record date for the issuance of its bonus shares.
The company said bonus share The issue will exit the company’s free reserves on March 31, 2022. Bonus shares are fully paid-up additional shares issued by the company to its existing shareholders.
“We have informed that the Board of Directors of the Company in its meeting held today, inter alia, considered and approved the issue of Bonus Equity Shares in the ratio of 1 (one) equity share of Rs. 2/- each for 2 (two) equity shares of Rs. 2/- each held, subject to the approval of the shareholders,” the company had informed in an exchange filing.
Meanwhile, Ajanta Pharma’s revenue from operations for the fourth quarter (Q4FY22) came in 870 cr, as against 15% up 757 crore in the same quarter last year. However, its net profit fell slightly to 151 crore 159 crore year-on-year (YoY).
For the year ended 31st March, 2022, the company earned profit after tax of from 713 crore 654 crore in FY 2011 while its revenue from operations increased to 3,341 crore as compared to the previous financial year 2,890 crore in 2020-21.
Established in 1973 and headquartered in Mumbai-India, Ajanta Pharma is a specialized pharmaceutical company engaged in the development, manufacturing and marketing of ready-made supplements in the domestic and international markets. The pharma stock is down over 7% in a one-year period, while it has fallen over 19% in 2022 (YTD) so far.