Don’t miss action in this small-cap stock that is likely to announce stock split!
The stock is up by 24.15 per cent in just 1 month.
Sigachi Industries Ltd inform that a meeting of the Board of Directors of the company is scheduled to be held on Wednesday, August 2, 2023 at 12:00 Noon through Video Conferencing to inter alia consider and approve the following:
1. Standalone and consolidated unaudited financial results for the first quarter ended June 30, 2023.
2. Sub-division of equity shares of the company of face value of Rs 10 each pursuant to the provisions of Section 61 (1) (d) of the Companies Act, 2013.
3. Any other business with the permission of the chair.
Sigachi Industries was incorporated in 1989. It is engaged in the manufacturing of Microcrystalline Cellulose (MCC) which is widely used as an excipient for finished dosages in the pharmaceutical industry. The shares of the company have a PE of 20x, a ROE of 18 per cent and a ROCE of 21 per cent.
The company reported positive numbers in its Quarterly Results & annual results and has delivered good profit growth of 44.50 per cent CAGR over the last 5 years. The net sales increased by 20.80 per cent to Rs 302 crore and net profit increased by 10 per cent to Rs 44 crore in FY23 over FY22.
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On Tuesday, shares of Sigachi Industries surged 4.75 per cent to Rs 307.95 per share from its previous closing of Rs 294 per share. The stock is up by 24.15 per cent in just 1 month and over 30 per cent in 3 months. Investors should keep an eye on this Small-Cap pharma stock.
Disclaimer: The article is for informational purposes only and not investment advice.