The flagship company of the Torrent Group, Torrent Pharma, is among the Top 5 in the therapeutics segments of Cardiovascular (CV), Gastro Intestinal (GI), Central Nervous System (CNS), Vitamins Minerals Nutritionals (VMN), and Cosmo-Dermatology and is ranked 6th in the Indian pharmaceuticals industry.
The Board of Directors “Recommended to the members a final dividend of ₹8/- (160%) per equity share of ₹5 each. The final dividend amount, if declared by the Shareholders, is proposed to be paid / dispatched on or around 14th August, 2023. Earlier an interim dividend of ₹14/- (280%) per equity share was paid during the last quarter,” said Torrent Pharma in a stock exchange filing.
The Board of Directors also “Recommended to the members to obtain enabling approval for issuance of Equity Shares including Convertible Bonds / Debentures through Qualified Institutional Placement (QIP) and / or Depository Receipts or any other modes for an amount not exceeding ₹5,000 crores in the upcoming Annual General Meeting of the Company,” informed Torrent Pharma to stock exchanges.
During Q4FY23, the company recorded a net revenue of ₹2,491 Cr up by 17% YoY from ₹2,131 Cr in Q4FY22. The company said its gross profit stood at ₹1,787 Cr during the quarter ended March 2023 up by 18% YoY from ₹1,509 Cr during the quarter ended March 2022. Its EBITDA reached ₹727 Cr during the quarter under review up by 30% YoY from ₹561 Cr during the corresponding quarter of the previous fiscal. Torrent Pharma said its net profit stood at ₹287 Cr during Q4FY23 as against a net loss of ₹118 Cr in Q4FY22.
During the full financial year FY23, its revenue stood at ₹9,620 Cr up by 13% YoY from ₹8,508 Cr recorded in the previous financial year. Its EBITDA reached ₹2,842 Cr up by 17% from ₹2,431 Cr and its net profit reached ₹1,245 Cr in 12MFY23 up by 60% YoY from ₹777 Cr in 12MFY22.
On Tuesday, the shares of Torrent Pharma closed on the BSE at ₹1717.15 apiece up by 0.69% from the previous close of ₹1705.40.
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Updated: 30 May 2023, 06:32 PM IST