Multibagger Pharma Stock Fixes Record Date For 350% Dividend, Buy Stock?

Multibagger pharma company Ajanta Pharma is set to offer an interim dividend of 350% to its shareholders, as announced on Thursday, after the board meeting. The board has fixed November 14 as the record date. Specialty pharma has stated that the payment of the dividend will be done on or after November 24, 2022.

The share price of the company closed at Rs. 1,351, on NSE today, gained by 5.26% in intra day trade yesterday. However, the stock opened lower today, and fell by around 6% on NSE in the early trading hour on November 4 due to a low earnings report. Along with announcing the dividend, yesterday Ajanta Pharma also declared its financial performance for Q2 FY23.

The company's net sales stood at Rs. 837.23 crore in Q2 FY 23, gained by 1.64% from Rs. 823.71 crore in Q2 FY22. Quarterly Net Profit stood at Rs. 167.18 crore in Q2 FY23, fell by 15.07% from Rs. 196.85 crore in Q2 FY22. EBITDA was quoted at Rs. 239.10 crore in Q2 FY23, fell by 16.18% from Rs. 285.26 crore in Q2 FY22. Additionally, the stock's EPS has fallen to Rs. 13.05 in Q2 FY23 from Rs. 22.75 in Q2 FY22.

Stock performance

In the last 1 month its share price fell by 1.13%, the past 6 months its share price gained by 8.21%, and in the last 1 year its share price has fallen by 13.02%. The 52-week high level of this stock is Rs. 1,569.33, and the 52-week low level of this stock is Rs. 1,061.77. This small-cap company has a market capitalization of Rs. 4,416 crore.

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