Small Cap Debt Free Pharma Stock Fixes Record Date For Rs 12/Share Dividend

During Friday's closing session, RPG Life Sciences, a small-cap pharmaceutical company, registered a market cap of Rs 1,517.70 Cr. A subsidiary of RPG Enterprises, RPG Life Sciences is an integrated pharmaceutical company that operates on domestic as well as international markets. The corporation has announced a dividend of Rs 12 per equity share for the fiscal year that ended March 31, 2023. The record date has been made public in order to establish the shareholders' eligibility for the same.

The Board of Directors have "Recommended equity dividend of Rs. 12 per share of Rs. 8/- each (150%) for the financial year ended March 31, 2023, which will be paid to the shareholders within 30 days of declaration of the same at the ensuing Annual General Meeting," said RPG Life Sciences in a stock exchange filing.

While announcing the record date, RPG Life Sciences informed stock exchanges on Friday that "Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Friday, July 21, 2023, as the Record Date for determining entitlement of Members to final dividend, if approved by the Members at the AGM. The dividend, if approved at the ensuing AGM, will be paid within 30 days to those Members whose name appear in the Register of Members of the Company and / or the Register of Beneficial Owners maintained by the Depositories as on Record Date."

During Q4FY23, the net income of the company reached Rs 120.33 Cr, up by 14.53% YoY from Rs 105.06 Cr in Q4FY22. Its net profit reached Rs 10.35 Cr during the quarter ended March 2023 up by 37.63% YoY from Rs 7.52 Cr reported in March 2022 quarter. During the year ended FY2023 its net income was Rs 517.61 Cr up by 16.80% YoY from Rs 443.15 Cr in the year ended FY2022. RPG Life Sciences said its net profit in 12MFY23 was Rs 67.64 Cr up by 31.39% YoY from Rs 51.48 Cr in 12MFY22.

RPG Life Sciences has announced an equity dividend of 150.00% at a face value of Rs 8 or Rs 12 per share, for the financial year ended March 2023. This generates a dividend yield of 1.31% at the current share price of Rs 914.60. The company has a solid track record of dividend declarations during the past five years. RPG Life Sciences Ltd. has issued 16 dividends since August 11, 2008, according to Trendlyne statistics.

On Friday, the shares of RPG Life Sciences closed on the BSE at Rs 914.60 apiece down by 1.81% from the previous close of Rs 931.50. The stock made a 52-week-high of Rs 1,012.45 on (15/11/2022) and a 52-week-low of Rs 557.20 on (19/07/2022). During Q4FY23, the company recorded promoter shareholding of 72.82%, FIIs stake of 0.38%, DIIs stake of 0.11% and public stake of 26.70%. As per the data of Trendlyne, RPG Life Sciences is a debt-free company which holds a price-to-earning (PE) ratio of 22.3, lower than its sector PE ratio of 41.9.