Cadila Healthcare to issue 1:2 ratio bonus shares
The Rs 2,900-crore Zydus Group’s listed entity, Cadila Healthcare Ltd (CHL), has announced a bonus issue of one equity share for every two equity shares held.
By ET Bureau |
AHMEDABAD: The Rs 2,900-crore Zydus Group’s listed entity, Cadila Healthcare Ltd (CHL), has announced a bonus issue of one equity share for every two equity shares held.
The company has decided to increase the authorised share capital from existing Rs 70 crore to Rs 110 crore. The bonus equity shares will be issued in the ratio of one equity share of Rs 5 each fully paid-up for every two equity shares of Rs 5 each held by the shareholders. The company will convene an EGM on March 22 to take up the bonus issue.
“We have been focusing on consistent growth in all areas of our business performance and have explored strategic initiatives that create value for our shareholders in the long term. As we accelerate the pace of growth, our aim would be to look at differentiated ideas, new business models and winning solutions that can help us in the next big leap of becoming a $3 billion company by 2015, .” Zydus Cadila CMD Pankaj Patel said.
According to the company, CHL topped the BSE 500 stocks delivering a return of almost 65% to its shareholders.
For the third quarter this year, CHL registered 31% growth and its total Income went to Rs 993 crore, up from Rs. 761 crore in the corresponding period last year, on a consolidated basis. The net profit after tax stood at Rs 130 crore, up by 114% from Rs 61 crore, during the same period last year.
The company has decided to increase the authorised share capital from existing Rs 70 crore to Rs 110 crore. The bonus equity shares will be issued in the ratio of one equity share of Rs 5 each fully paid-up for every two equity shares of Rs 5 each held by the shareholders. The company will convene an EGM on March 22 to take up the bonus issue.
“We have been focusing on consistent growth in all areas of our business performance and have explored strategic initiatives that create value for our shareholders in the long term. As we accelerate the pace of growth, our aim would be to look at differentiated ideas, new business models and winning solutions that can help us in the next big leap of becoming a $3 billion company by 2015, .” Zydus Cadila CMD Pankaj Patel said.
According to the company, CHL topped the BSE 500 stocks delivering a return of almost 65% to its shareholders.
For the third quarter this year, CHL registered 31% growth and its total Income went to Rs 993 crore, up from Rs. 761 crore in the corresponding period last year, on a consolidated basis. The net profit after tax stood at Rs 130 crore, up by 114% from Rs 61 crore, during the same period last year.
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