IOL Chemicals stock split: Pharma firm’s board to consider division of shares on Dec 27 – CNBC TV18
| Company | Value | Change | %Change |
|---|
“IOL CHEMICALS & PHARMACEUTICALS LTD. has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 27/12/2024, inter alia, to consider and approve the alteration in the share capital of the Company by sub-division / split of existing equity shares having face value of Rs. 10/- each, fully paid up, as may be determined by the Board of Directors,” the company stated in a BSE filing on Wednesday, December 18.
A stock split is generally aimed at making shares more affordable and increasing liquidity in the market.
IOL Chemicals share price performance
Shares of IOL Chemicals and Pharmaceuticals closed 3.17% lower at ₹405.95 apiece on the NSE. Despite this, the stock has surged over 16% in the last month, outperforming the broader Nifty50 index, which has risen just over 3% during the same period. However, the one-year return on the stock remains negative, down nearly 12%.
IOL Chemicals financial results
The company reported consolidated net sales of ₹525.75 crore for the September 2024 quarter, a decline of 3.59% from ₹545.30 crore in the corresponding period of 2023. IOLCP’s quarterly net profit dropped 49.43% to ₹19.15 crore from ₹37.87 crore in September 2023, while EBITDA stood at ₹48.00 crore for the September 2024 quarter, down 32.69% from ₹71.31 crore in the same quarter last year.
IOL Chemicals and Pharmaceuticals has a diverse portfolio, with a presence in therapeutic areas such as pain management, anti-diabetes, antihypertensive, and anticonvulsants.
