Dividend Alert: Torrent Pharma Offers Rs 26 Payout, Record Date Set; Worth Adding To Portfolio?

The cornerstone division of the Torrent Group is Torrent Pharma. In the therapeutics categories of Cardiovascular (CV), Gastrointestinal (GI), Central Nervous System (CNS), Vitamins Minerals Nutritionals (VMN), and Cosmo Dermatology, it ranks in the top five and ranks seventh in the Indian pharmaceuticals market. About 75% of the company's revenue in India comes from chronic and sub-chronic medicines, making it a specialty-focused business. It is the top Indian pharmaceutical company in Brazil and Germany and is present in more than 50 countries. Five of Torrent's eight production locations have received USFDA approval. It has made large investments in R&D capabilities, with state-of-the-art R&D facilities employing over 750+ scientists, as R&D is the foundation of its success in both the domestic and international markets.

Torrent Pharmaceuticals Dividend

The Board of Directors approved "An interim dividend of Rs 26/- (520 %) per equity share of Rs 5/- fully paid up. The dividend is expected to be paid / dispatched on or around 17th February, 2025," said the pharma company in a stock exchange filing. For the purpose of the above-said dividend, Torrent Pharmaceuticals have fixed 1 February as the record date.

Torrent Pharmaceuticals Financials

The business recorded net sales of Rs 2,377.00 crore for the December 2024 quarter, rising 11.96% from Rs 2,123.00 crore for the December 2023 quarter. In Q3FY25, its net profit was Rs. 485.00 crore, growing 63.3% from Q3FY24's Rs. 297.00 crore. EBITDA climbed by 28.99% from Rs. 690.00 crore in the December 2023 quarter to Rs. 890.00 crore in the December 2024 quarter.

Torrent Pharma Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking commented, "TORNTPHARM Limited is currently trading at 3337.75 levels, indicating a sharp reversal from recent lows, driven by renewed buying momentum and robust volumes. The stock has strong support at Rs 3100 (near the 200-day Exponential Moving Average or EMA), and resistance around Rs 3400. The stock's positive momentum is further confirmed by its positioning above the short-term (20 Day), medium-term (50 Day), and long-term (200 Day) EMA levels."

"The stock's higher high and higher low formation further emphasizes the underlying bullish trend. A significant breakthrough above the resistance at 3400, supported by robust volumes, underscores the stock's strength which also marks its all-time high. A breakout above this crucial resistance could set the stage for a rally towards the target of Rs 3600 in the short term. Traders and investors who entered at lower levels are advised to safeguard their positions by trailing stop losses near 3200, aiming for the target of 3600 and beyond," the analyst said.

"The momentum indicator, Relative Strength Index (RSI), is currently at 56.19 levels, indicating positive momentum in the stock. For those considering fresh investments, purchasing at the current market price (CMP) is a viable option, targeting 3600, with a stringent stop loss set at 3200 levels to manage risk effectively," Mandar Bhojane further added.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.