Torrent Pharma shares were trading almost flat Ahead of its record date for bonus shares, the stock traded with ex-dividend at Rs 1,417 epic on BSE in Friday afternoon session.
With Q4FY22 results, torrent pharma said that its board has recommended the issue of bonus share In the ratio of 1:1 i.e. one equity share for every fully paid-up equity share held on the record date fixed for the purpose. The Board of Directors of Torrent Pharma Company has fixed the record date for issue of its Bonus Shares as next week, Monday, July 11, 2022.
Bonus shares once allotted shall be of equal status in all respects and shall have the same rights as existing equity shares and shall be entitled to participate fully in any dividend and other corporate action recommended and declared after the issue and allotment of such bonus. would be entitled. shares, the company had said.
As a result of the bonus issue, the total paid-up share capital is Rs. 169.22 crore from the current Rs. 84.62 crore, Torrent Pharma had reported.
Besides this, along with its earnings, the board had also recommended to the members a final dividend of Rs. 23/- (460%) per equity share Rs. 5/- each with a special dividend of Rs. 15/~ per equity share, the pharma company informed in an exchange filing. It added that the final dividend amount, if declared by the shareholders, is proposed to be paid/remitted on or around August 4, 2022.
Torrent Pharma consolidated losses 118 crore for the fourth quarter ended March 2022 on account of loss provision of Rs. 425 crores related to the closure of liquids business in the US. The company had recorded a net profit of 324 crore in the January-March period of the financial year 2020-21.
In May, Torrent Pharmaceuticals entered into an agreement with Dr Reddy’s Laboratories to acquire four brands, which are Stiptovit-E, Finst, Finst-T and Dynapress. As per the terms of the definitive agreement, Torrent Pharma will acquire the manufacturing, marketing and distribution of these brands in India.