Pharma stock Dipna Pharmachem to declare bonus shares, stock split this month. Details here

Bonus shares, stock split: the board of directors of the pharma company Dipna Pharmachem Ltd is going to consider and approve the proposal for the issuance of bonus shares and stock subdivision in its meeting scheduled on 26th April 2024. The BSE-listed micro-cap pharma company informed Indian stock market exchanges bout the proposal in an exchange filing on Monday. After the spread of this stock market news today, the penny stock witnessed strong buying interest in the Tuesday morning deals. Dipna Pharmachem share price today opened upside and went on to touch an intraday high of ₹10.10 apiece on BSE, logging a nearly 7 percent intraday rise against its Monday's close of ₹9.45 apiece.

Stock split, bonus share details

The small-cap stock under ₹10 informed Indian stock market exchanges about the proposal saying, “We hereby inform you that a meeting of the Board of Directors of the Company will be held on Friday, 26th April 2024 at 2:00 P.M., at the Registered Office of the Company situated at A/211, Siddhi Vinayak Complex, Near D.A.V. School, Makarba, Ahmedabad, Gujarat, India, 380055, to discuss and consider, inter-alia: 1] The proposal of issue of Bonus equity shares to the existing equity shareholders of the Company. 2] The proposal of sub-division of equity shares of the Company.”

Dipna Pharmachem financials

The pharma company has registered revenue growth to the tune of nearly 50 percent in the last three years (as claimed by the company in its press release), which is higher than the sectoral revenue growth at this time. The micro-cap pharma company's annual revenue surged by 37.34% in the last fiscal year, reaching a notable ₹99.93 crores. This robust growth far outstripped the sector's average revenue growth of 8.87%, reaffirming Dipna Pharmachem's status as a frontrunner in the industry. The company has maintained a healthy Return on Equity (ROE) of 37.44% over the past three years, indicating efficient utilization of shareholders' equity to generate profits. With a Debt-to- debt-to-equity ratio of 0.65, Dipna Pharmachem showcases a prudent capital structure, predominantly financing its assets through equity, thus minimizing financial risk.

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.