Jagsonpal Pharma net rises 227 per cent
By Our Corporate Bureau | 03 May 2004
Jagsonpal has posted excellent results for the fiscal ended March 2004, with the company announcing its maiden bonus issue.
The company has recommended a bonus of 3:1, and a stock split of 2 shares of Rs. 5 each, for each share of Rs. 10 held.
This will infuse liquidity and affordability of the shares in the market. With the market lot of one share, it is poised to be within reach of even the smallest investor.
The current eps is Rs. 28.32 (annualised), with current trading at a p/e of 6.21.
The financial performance of the company notched an all-time high on all parameters. Sales have gone up by a huge 75 per cent for the quarter ended March 2004 (Rs. 4113.14 lakhs as against Rs. 2351.15 lakhs). The net profit has increased by 227 per cent to Rs. 231.88 lakhs.
This exceedingly good performance is amply endorsed by independent market audit as well, with the ranking of Jagsonpal moving to number 42 for the month of February 2004, up from number 53 in September 2003.
Jagsonpal's foray into the nutraceuticals segment has been significant — with Lycored notching a business of nearly Rs. 100 million in the first year of All-India operations. The product is expected to contribute significantly to the total business in the current fiscal.