Pharma Stock Sets Record Date For Final Dividend, LIC Held Stake In Q1

Strides Pharma Science Ltd is a small cap pharma company which recorded a market cap of Rs 3,975.13 Cr during Friday's closing session. The company develops and produces IP-driven, specialised dosage formulations. It is one of the largest manufacturers of soft gelatin capsules in the world.

"As informed by the Company on May 25, 2023, Board of Directors have recommended a Dividend of Rs. 1.50/- per equity share of Rs. 10/- each (at the rate of 15%) for FY23. Record Date for the purpose of said Dividend is Friday, August 4, 2023. Dividend once approved by Shareholders in the ensuing AGM, shall be paid within 30 days from the date of such approval," said Strides Pharma Science in a stock exchange filing.

The company has a solid track record of dividend declarations during the past five years. According to Trendlyne's statistics, Strides Pharma Science Ltd. has issued 18 dividends since June 13, 2005.

In the quarter that ended on March 31, 2023, the company's loss dropped from Rs 82 crore in the same quarter of FY22 to Rs 14 crore. Revenue from operations quarterly sales grew by 14% YoY to Rs. 986 crore in Q4FY23 from Rs. 866.02 crore in Q4FY22. In the fourth quarter of FY23, EBITDA jumped to Rs 160 crore and EBITDA margin stood at 16.1%.

On Friday, the shares of Strides Pharma Science closed on the BSE at Rs 440.20 apiece up by 0.57% from the previous close of Rs 437.70. The stock made a 52-week-high of Rs 486.80 on (04/07/2023) and a 52-week-low of Rs 268.40 on (21/03/2023). During Q1FY24, the company recorded promoter shareholding of 28.08%, FIIs stake of 16.72%, DIIs stake of 19.60%, Govt stake of 0.40% and public stake of 35.22%. As per the shareholding pattern of Strides Pharma Science for Q1FY24, insurance giant LIC held fully paid up equity shares of 38,09,806 or 4.22% stake in the company.