1:10 Stock Split: Record Date In 4 Days On November 23; Right Time To Buy?

Based in Mumbai, India, Sudarshan Pharma Industries is a well-known pharmaceutical manufacturer and company. The company has diverse businesses in the pharmaceutical sector and specialised chemicals in the chemical industry. The company has established itself in both foreign and Indian markets including the export of products made in UK, Australia, Uzbekistan, Syria, Oman, Taiwan, & MENA Regions. The company also engages in contract manufacturing, outsourcing, and the delivery of generic pharmaceutical formulations and medications to hospitals, government agencies, non-governmental organisations, and healthcare institutions.

Sudarshan Pharma Industries Stock Split

"In supersession of our earlier communication dated November 7, 2024, informing the fixation of Record Date i.e. Monday, November 18, 2024, which due to administrative issues, resulted in shorter than the stipulated period, we wish to revise the RECORD DATE, in terms of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 to Saturday, November 23, 2024 for the purpose of sub-division of face value of Equity Shares (all the Authorized, Issued, Subscribed and Paid-up Equity Shares of nominal value of Rs.10/- (Rupees Ten Only) each shall stand sub-divided into 10 (Ten) Equity Shares of nominal value of Re.1/~ (Rupee One only) each fully: paid-up," said the company in a stock exchange filing.

"Vide postal ballot results announced on 3rd November 2024, the shareholders of the Company had approved the sub-division of equity shares/ split in face value of equity shares, from Rs.10/- each to Re. 1/- resulting into 10 Equity Shares of Re. 1/- each for existing 1 Equity Share of Rs.10/- each. Accordingly, conversion ratio for warrants so allotted shall stand changed to 1 (one) Warrant convertible into 10 (Ten) Equity Shares of Rs.1/- (Rupee One Only), subject to the warrant-holder paying the remaining 75% consideration within the time limit prescribed under the provisions of the SEBI (Issue of Capital And Disclosure Requirements) Regulations, 2018," Sudarshan Pharma Industries informed stock exchanges.

Sudarshan Pharma Industries Financials

In FY24, the company's net sales were Rs 4,6354 million, up from Rs 4,613.3 million in FY23. In FY24, its net expenses were Rs 4,407.3 million, compared to Rs 4,466.4 million in FY23. According to Sudarshan Pharma Industries, its EBITDA increased from Rs 146.9 million in FY23 to Rs 228.1 million in FY24. In FY24, the company reported a net profit of Rs 114.5 million, up from Rs 70.4 million in FY23.

Sudarshan Pharma Share Price Target

"Sudarshan Pharma stock price is bearish on the Daily charts with strong resistance at 427.5. A Daily close below support of 379 could lead to a target of 325 in the near term," said A R Ramachandran, Independent Research Analyst.

Disclaimer

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