19,000 per cent returns & PAT zooms over 4,400 per cent: Multibagger micro-cap stock hit 20 per cent upper circuit as it announces stock split – know the record date inside
The shares of the company have an ROE of 71 per cent and a ROCE of 103 per cent.
Today, shares of Remedium Lifecare Ltd hit 20 per cent upper circuit to Rs 561.10 per share from its previous closing of Rs 467.60. The stock’s 52-week high is Rs 898.30 and its 52-week low is Rs 35.31. At the closing bell, shares of the company were trading at Rs 539.55 per share, up 15.39 per cent with a spurt in volume by more than 1.17 times on BSE.
The sudden rise in the stock price was due to the company announcing stellar Quarterly Results (Q3FY24), nine-month results (9MFY24) and a stock split. Details below: -
Results: The net sales increased by 939 per cent to Rs 1,834.18 crore and net profit skyrocketed by 4,425 per cent to Rs 68.78 crore in Q3FY24 over Q3FY23 while the net sales increased by 506 per cent to Rs 2,633.21 crore and net profit skyrocketed by 747 per cent to Rs 86.45 crore in 9MFY24 over 9MFY23. According to annual results, the net sales increased by 1 per cent to Rs 510 crore and net profit increased by 400 per cent to Rs 5 crore in FY23 compared to FY22.
Additionally, the Board of Directors of the company has approved and recommended for sub-division of the company's 1 (one) equity share of face value of Rs 5 each into 5 (five) equity shares of face value of Rs 1 each held as of the Record date which shall be decided for this purpose. The company fixed the record date for the stock split as Friday, February 23, 2024.
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Remedium Lifecare Ltd is in the business of trading in advanced pharmaceutical intermediates and other pharma products. The company has a market cap of over Rs 1,000 crore with a 3-year stock price CAGR of 290 per cent.
The shares of the company have an ROE of 71 per cent and a ROCE of 103 per cent. The stock has delivered mind-boggling returns for investors, generating multibagger returns of 1,270 per cent in just 1 year, 7,100 per cent in 3 years, and a whopping 19,000 per cent in 5 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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