Today, Remedium Lifecare Limited shares are in focus due to a significant decline of over 7%, reaching an intraday low of Rs 59.
The company held its 35th Annual General Meeting (AGM) on Wednesday, June 26, where it approved the quarterly results for the last financial year and appointed a new board member.
Notably, shareholders will receive a bonus of three shares for every one share held, approved in a ratio of 3:1 at the AGM.
Performance Overview
Remedium Life Care Limited has shown remarkable growth, delivering a staggering 14,136% return to investors since its low of 45 paise on May 25, 2018.
Despite this, the stock closed at Rs 64.06 on Wednesday, with a 52-week high of Rs 180 and a low of Rs 63.80.
Financial Insights and Recent Developments
Over the past five years, the stock has yielded a remarkable 8,557% return, starting from 74 paise.
However, in the last year alone, investors have seen a significant decline of 55% from a peak of Rs 142.72 on June 27.
The company primarily operates in the micro-cap pharma sector, with a market cap around Rs 646 crore.
Business Outlook and Recent Performance
Remedium Life Care Limited has faced challenges recently, with its stock declining by 36%. The company specializes in supplying active pharmaceutical ingredients (APIs), intermediates,
and special chemicals. It has secured contracts worth Rs 175 crore scheduled between July 2024 and June 2025.
Despite a rise in sales to Rs 1408.49 crore in Q4 FY24 from Rs 75.58 crore in Q4 FY23, the company reported a net loss of Rs 53.72 crore in the quarter ended March 2024, compared to a net loss of Rs 4.78 crore in the same period last year.
