Infinium Pharmachem Ltd approves 1:1 Bonus Issue

PNN
Gandhinagar (Gujarat) [India], August 2:
, engaged in the manufacturing of Pharma Intermediates and APIs, Iodine derivatives has approved 1:1 bonus issue at its board meeting held on 02 August 2023. Company has fixed 13th September, 2023 as the record date for the purpose of bonus issue. Annual General meeting of the company will be held on 28th August, 2023.
The board approved a bonus issue in the ratio of 1:1 i.e. One new bonus equity share of Rs. 10 each for every one fully paid equity shares of Rs. 10 each, subject to approval by the members and any other applicable statutory and regulatory approvals. The Board also considered and approved increase in authorised capital from Rs. 10 crore to Rs. 25 crore.
Company has reported net profit of Rs. 9.49 crore for FY23, with Y-o-Y growth of 55.4% as compared to the net profit of Rs. 6.10 crore in FY22. Revenue from Operations grew 15.24% to Rs. 114.22 crore in FY23 as against revenue of Rs. 99.12 crore reported in FY22.
Established in the year 2003, Infinium Pharmachem Ltd manufactures & supply wide range of superior quality Iodine derivatives & APIs. In 2015, Infinium obtained FDA approval for APIs manufacturing. The company works as CRAMS for Pharmaceutical, Agrochemical, Nutraceutical, Specialty Chemical etc. from R&D to commercial sale. Infinium is in top 5 companies in India providing the widest range of Iodine derivatives in the market, with more than 200+ intermediates and 7+ APIs. All its products are developed to meet challenging demands, superior quality, performance and various other commercial requirements across industries.
Mr. Sanjaykumar Patel, Managing Director, Infinium Pharmachem Ltd said, “We feel proud to inform all our stakeholders that the company is progressing well on its long-term growth roadmap. Company is growing strength to strength, delivering robust operational and financial performance maintaining healthy growth in revenue, margins and profitability. We expect the growth momentum to continue and expect to get further boost in coming years.”
The company has its manufacturing plant at GIDC Sojitra, Anand Gujarat, India. It was formed with a vision to be a globally integrated and trusted pharmaceutical & healthcare company. The Company got certified as ISO 9001-2015 in the year 2017. The Company undertakes Contract Research and Manufacturing Services (CRAMS) to provide customised and fully confidential solutions to its clients. The Company has developed and maintained long - term healthy relationships with all its clients, including Pharmaceutical, Biotech and Fine Chemical companies and its products reach out to over 250+ clients globally like Syngene International, Dr Reddy's Lab., Glenmark, Sun Pharma, Sai Life sciences, etc. It is exporting to 20+ countries like US, UK, China, Italy, Japan, etc.
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