Ajanta Pharma on Tuesday announced that its Board of Directors in its meeting held today has approved issuance of Bonus Equity Shares in the ratio of 1:2, subject to the approval of the shareholders of the company. Shares of Ajanta Pharma were trading with a decline of 4% 1,653 each on the BSE in afternoon deals.
“We have informed that the Board of Directors of the Company in its meeting held today, inter alia, considered and approved the issue of Bonus Equity Shares in the ratio of 1 (one) equity share of Rs. 2/- each for 2 (two) equity shares of Rs. 2/- each held, subject to the approval of the shareholders,” the pharma company informed in an exchange filing.
The company said issue of bonus shares Will run out of free reserves of the company on March 31, 2022. Bonus shares are fully paid-up additional shares issued by the company to its existing shareholders.
Meanwhile, Ajanta Pharma’s revenue from operations for the fourth quarter (Q4FY22) came in 870 cr, as against 15% up 757 crore in the same quarter last year. However, its net profit fell slightly to 151 crore 159 crore year-on-year (YoY).
Established in 1973 and headquartered in Mumbai-India, Ajanta Pharma is a specialized pharmaceutical company engaged in the development, manufacturing and marketing of ready-made supplements in the domestic and international markets. The pharma stock is down more than 17% in a one-year period, while it has fallen more than 25% so far in 2022 (YTD).