High ROE & high ROCE multibagger stock; Board likely to announce bonus shares!

The stock gave multibagger returns of 102 per cent in just 3 months.

Infinium Pharmachem Ltd informed that the meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, August 02, 2023 at the Registered Office of the Company to consider, inter alia, the following items:

1. To consider and recommend the Statement of Profit & Loss for the Financial Year ended March 31, 2023 and the balance sheet as of that date and the reports of the Directors and Auditors thereon.

 Z. To fix the date, time and venue for conducting the AGM of the company for the financial year ended on March 31, 2023.

3. To consider and approve the draft notice of the annual general meeting (AGM) for the financial year ended on March 31, 2023.

4. To consider an increase in the authorized share capital of the company.

5. To consider and approve the issue of bonus shares to the shareholders of the company.

6. Any other agenda with the permission of the chair.

Infinium Pharmachem Limited manufactures & supplies Iodine derivatives, APIs, and Iodination reaction-based bulk drugs. The company has a market cap of Rs 205 crore. According to the annual results, the net sales increased by 15.15 per cent to Rs 114 crore and net profit increased by 42.86 per cent to Rs 10 crore in FY23 over FY22.

The shares of the company have a ROE of 72.40 per cent and a ROCE of 45 per cent. The stock gave multibagger returns of 102 per cent in just 3 months. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.