PNN

Mumbai (Maharashtra) [India], October 4: The board of directors of Mumbai-based Vaishali Pharma Ltd (NSE-VAISHALI) has fixed the "Record Date" as Tuesday, 15th October 2024. The Company will Split its Equity Shares, having a nominal/face value of Rs 10 each (Rupees Ten only), into 5 (Five) equity shares of Rs 2 each (Rupee Two only) of the Shareholders holding shares as of the Record Date, i.e., Tuesday, 15th October 2024.

Further, the Bonus Shares will be issued to the Shareholders of the Company in the ratio of 1:1, i.e., 1 (One) new fully paid-up Equity Share of Rs 2/- (Rupees Two Only) each for every 1 (One) existing fully paid-up Equity Share of Rs 2/- (Rupees Two Only) each held by the eligible Shareholders of the Company as on the Record Date i.e Tuesday, 15th October 2024.

Catering to semi-regulated and non-regulated markets across the world, the company had recently obtained 19 registrations across Southern Africa, West Africa, the Gulf region, Latin America and the ASEAN region. These registrations are poised to contribute around Rs 100 million to the company's annual revenue.

Highlights

* Bonus issue is aimed at rewarding existing shareholders, enhancing liquidity, and expanding the shareholder base

* Company had recently obtained 19 registrations across Southern Africa, West Africa, the Gulf region, Latin America etc, expected to contribute around Rs. 100 million to the company's annual revenue

* Mumbai-based pharma company has over 250 + formulation brands marketed in multiple countries and a robust pipeline of around 250 Dossiers.

* Company has fixed the "Record Date" as Tuesday, 15th October, 2024

* The Company will Split its Equity Shares of Rs 10 each into 5 equity shares of Rs 2 each.

* The Bonus Shares will be issued to the Shareholders of the Company in a ratio of 1:1

Backed by strong product portfolio and distribution network, the Company had reported robust financial performance for Q1FY25. For the quarter ended on June 30, 2024, the Company's sales increased by 34.70% to Rs 18.08 crore in Q1FY25 compared to Rs 13.42 crore during Q1FY24. Net Profit of the company rose 7.13% to Rs 1.70 crore as against Rs 1.59 crore during the previous quarter ended June 2023.

Commenting on the development, Atul Vasani, Chairman and Managing Director, Vaishali Pharma Ltd said, "We are proud to inform our stakeholders that the company is making significant strides in its long-term growth strategy, delivering excellent operational and financial results. Consideration of stock split and bonus shares are in line with the company's vision to reward the shareholders and earn their long-lasting trust and confidence. This move will not only reward our existing shareholders for their continued support but also increase the company's equity base, thereby enhancing liquidity. With a focus on growth and innovation, the company is making its mark through strategic initiatives, promising to become a significant presence in the evolving pharmaceutical sector."

Established in 1989, Vaishali Pharma Limited specializes in the production and marketing of a diverse range of pharmaceutical products, including APIs, formulations, surgical products, veterinary supplements, herbal items, nutraceuticals, and oncology products. Their portfolio serves both human and animal healthcare needs. The company has over 250 + formulation brands marketed in multiple countries and a robust pipeline of around 250 Dossiers. The company's synergistic collaboration with WHO-GMP manufacturing facilities is backed by an excellent rapport with clients. Company is one of the fastest growing and most versatile company in the pharmaceutical industry. It has a strong presence in both the domestic and export markets and is currently supplying to all leading Indian and international companies.

With a vision "To be a well-recognised Indian MNC in the pharmaceuticals and healthcare industry", the company continue to work on its mission to contribute substantially towards well-being and health of the society by providing high quality products and service.

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