Marksans Pharma Share Buyback: Marksans Pharma shares rallied more than 17 per cent to Rs 50 apiece on the BSE in Tuesday’s trading session after the company informed about its buyback offer. A meeting of the board of directors of Marksans Pharma is scheduled to be held on Friday, July 8, 2022 to consider the proposal for the buyback of fully paid up equity shares of the company up to such amount of the aggregate of the company’s paid up equity share capital and free reserves as the board may decide, company said in its press release.
“We wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Friday, July 8, 2022, to consider the proposal for buyback of fully paid up equity shares of the Company up to such amount of the aggregate of Company’s paid up equity share capital and free reserves,” Marksans Pharma said in an exchange filing.
It is further informed that the trading window for dealing in the shares of the company for the designated person(s) is already closed w.e.f. July 01, 2022 and will remain closed till 48 hours after the declaration of unaudited financial results for the quarter ended June 30, 2022, the company added.
Marksans Pharma Ltd. is an Indian pharmaceutical company having a global footprint in the research, manufacturing, and marketing of finished dosage pharmaceutical formulations. Marksans Pharma shares have declined more than 45 per cent in a year’s period, whereas the pharma stock is down about 18 per cent in 2022 (YTD) so far. The share touched a 52-week high of Rs 93.50 and a 52-week low of Rs 38.70 on 06 July, 2021, and 20 June, 2022, respectively. Currently, it is trading 48.72 per cent below its 52-week high and 23.9 per cent above its 52-week low.
The stock has given a 3-year return of 125 per cent as compared to a 35 per cent return given by Nifty Smallcap 100 and 49 per cent by Nifty Pharma in the same period.
For the latest quarter ended March 2022, its revenue increased by 26.6 per cent YoY to Rs 418 crore. PBIDT excluding other income was reported at Rs 63.64 crore, down by 33.3 per cent YoY. PAT was reported at Rs 29.65 crore, down by 62.70 per cent YoY.
Last month, the company informed that its board at its meeting held on May 30, 2022, in Mumbai, recommended a final dividend @ Re. 0.25 (Rupee Zero and Paise Twenty Five) i.e. 25 per cent per equity share of Re. 1/- each face value for the financial year ended March 31, 2022, subject to the approval of the shareholders in the ensuing Annual General Meeting (AGM). The Book Closure/ Record Date for the Final dividend will be intimated in due course.
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