Drugs both branded and generic are produced by Torrent. Tablets, capsules, and formulations with prolonged release are among the dosage forms. Brazil, Germany, India, and the US are a few of its main markets.
Over the last year, the stock of Torrent Pharma has increased by 53 percent, surpassing the gains of the benchmark Nifty 50, which has increased by 25 percent.
By selling equity shares and convertible bonds via a qualified institutional placement (QIP), Torrent Pharmaceuticals intends to raise Rs 5,000 crore. On May 24, the fundraiser was authorized by the drugmaker's board.
After receiving board approval at the next annual general meeting (AGM), the corporation will proceed with the QIP.
"Recommended to the members to obtain enabling permission for issuance of equity shares including convertible bonds or debentures through authorized Institutional Placement (QIP) and or any other modes for a total amount that does not exceed Rs 5,000 crore in the upcoming Annual General Meeting (AGM)," the business stated in its regulatory filing.
On May 24, Torrent Pharmaceuticals announced an increase in its overall net profit of Rs 449 crore, or 57%, for the March quarter. Its sales increased to Rs 2,745 crore, or 10% YoY.
In the reviewed quarter, the pharmaceutical company's profits before interest, tax, depreciation, and amortization (EBITDA) rose by 21% year over year to Rs 883 crore.
Additionally, the members were advised by the company's board to receive a final dividend of Rs 6 (120 percent) for each equity share valued at Rs 5. Prior to this, during the most recent quarter, an interim dividend of Rs 22 (440 percent) per equity share was paid.
Drugs both branded and generic are produced by Torrent. Tablets, capsules, and formulations with prolonged release are among the dosage forms. Brazil, Germany, India, and the US are a few of its main markets.
In the previous session, shares of Torrent Pharma closed 3.2 percent down at Rs 2,606.05 on the National Stock Exchange (NSE). The stock has increased 53 percent over the last year, outpacing the benchmark Nifty 50's 25 percent gain in the same time frame.
No comments:
Post a Comment