Lot Size for investing in shares revised to 500 from current 2000 w.e.f 30 Oct
Gujarat (India), October 31: Infinium Pharmachem Ltd, engaged in the manufacturing of Pharma Intermediates and APIs, Iodine derivatives has reported a standalone net profit of Rs. 6.13 crore for H1FY24 ended September 2023 with Y-o-Y growth of 22.7% as compared to the net profit of Rs. 4.99 crore in H1FY23. The reduction in the raw material costs and operational efficiency have contributed to the profit growth. Revenue from Operations in H1FY24 was reported at Rs. 50.85 crore. Profit Before Tax during H1FY24 grew 22.3% to Rs. 8.17 crore as against Profit before Tax of Rs. 6.68 crore in H1FY23. EPS for H1FY24 was reported at Rs. 4.41 per share.
Standalone Financial Highlights:
(Rs. in cr)
From 30 October 2023, lot size for investing in the company’ share is revised to 500 from 2,000 currently. The move will results in more and better investor participation in the company.
Company has approved 1:1 bonus issue. Company approved allotment of 69.58 lakh equity shares of Rs. 10 face value each as fully paid up bonus equity shares to members on the record date of 13 September 2023. Consequently the paid-up equity share capital of the company stands increased to Rs. 13.91 crore comprising 1.39 crore equity share capital of Rs. 10 each. The Board also considered and approved increase in authorised capital from Rs. 10 crore to Rs. 25 crore.
Established in the year 2003, Infinium Pharmachem Ltd manufactures & supply wide range of superior quality Iodine derivatives & APIs. In 2015, Infinium obtained FDA approval for APIs manufacturing. The company works as CRAMS for Pharmaceutical, Agrochemical, Nutraceutical, Specialty Chemical etc. from R&D to commercial sale. Infinium is in top 5 companies in India providing the widest range of Iodine derivatives in the market, with more than 200+ intermediates and 7+ APIs. All its products are developed to meet challenging demands, superior quality, performance and various other commercial requirements across industries.
Company has a vision to increase its production capacity to 3,400 MT per annum by FY 2029-30 and is open for organic as well as inorganic growth opportunities. Further to expand production capacities, company is investing around Rs. 10 crore in setting up 637.2 MT capacity at GIDC Sojitra. The expansion of the phase 2 is expected to be completed by June 2026. It will be a state-of-the-art production facility for Iodine derivatives & APIs to the standards of WHO-GMP. Company also started construction 4,400 sq ft warehousing keeping in mind the future requirements.
In the month of March 2023, company successfully completed its Rs. 25.25 crore SME IPO on NSE Emerge. The public issue is for 18.75 lakh shares of face value of Rs 10 per equity share for a cash price of Rs. 135 per equity share.
The company has its manufacturing plant at GIDC Sojitra, Anand Gujarat, India. It was formed with a vision to be a globally integrated and trusted pharmaceutical & healthcare company. The Company got certified as ISO 9001-2015 in the year 2017. The Company undertakes Contract Research and Manufacturing Services (CRAMS) to provide customised and fully confidential solutions to its clients. The Company has developed and maintained long – term healthy relationships with all its clients, including Pharmaceutical, Biotech and Fine Chemical companies and its products reach out to over 250+ clients globally like Syngene International, Dr Reddy’s Lab., Glenmark, Sun Pharma, Sai Life sciences, etc. It is exporting to 20+ countries like US, UK, China, Italy, Japan, etc.
If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.
